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Banks may increase variable mortgage rates to recoup pandemic-induced losses despite a stagnant cash rate, according to surveyed experts.
In this month's Finder RBA Cash Rate Survey, while all the experts surveyed expect a cash rate hold in September (40/40), more than half of those who weighed in (57%, 16) believe that banks will raise their variable mortgage rates despite the Reserve Bank indicating that the cash rate will remain motionless for some time.
When asked about the expected time frame for this movement, half of the respondents (50%, 8) said banks are likely to announce out-of-cycle rate hikes during the first half of 2021.
Graham Cooke, insights manager at Finder, said that prospective variable rate increases mean future homebuyers should tread cautiously.
“Banking profits have nosedived off the back of billions of dollars worth of loan deferrals, a shrinking pool of first-time buyers, low-interest rates and minimal credit growth."
“This may send banks scrambling to recoup lost funds by pushing up home loan rates to absorb some of these costs, which will come at a detriment to mortgage customers."
“A flat cash rate does not mean homeowners are in the clear. We learned this during the most recent period of cash rate stagnation. While the rate held at 1.25% for 34 months starting in 2016, banks increased their variable rates 7 times."
“This means that homebuyers considering a variable mortgage should still factor in a potential repayment increase of 2-3% to their budget to prevent rate shock,” Cooke concluded.
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Banks raise variable mortgage rates independent of the RBA: Finder RBA Survey

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Deputy Premier John Barilaro and Minister for Agriculture Adam Marshall have today called for the removal of restrictions on agricultural workers crossing the NSW/Victoria border.
The call comes ahead of a meeting of National Cabinet on Friday, where an Agricultural Workers Code will be presented and considered. 
Mr Barilaro said agriculture was an essential industry and that it was imperative restrictions were lifted to ensure farmers had an adequate workforce for the fast-approaching harvest. 
“The situation is now at the 11th hour for many producers across the State. We cannot stand by and watch farmers, crops and businesses face ruin due to the border closure with Victoria,” Mr Barilaro said.
“Agriculture is an essential industry. Our farmers feed and clothe the nation and we must do everything to ensure they can continue to operate as smoothly as possible."
Mr Marshall said he would be taking forward a proposal to a meeting of Agriculture Ministers tomorrow,  which would see sensible safety requirements imposed in exchange for the removal of all other restrictions on the movement of agricultural workers across all borders.
“Our farmers are suffering because the current cumbersome permit system restricts the free movement of agricultural workers across the NSW/Victoria border, beyond 100 kilometres,” Mr Marshall said. 
“As part of that proposal, new requirements would be introduced to ensure the safety of primary producers and rural communities, including having a mandatory COVID Safe Plan in place, the use of PPE by workers as well as robust records keeping to allow contact tracing.
“Our farmers have had a gutful of these senseless border restrictions and so have I.”
The Minister for Agriculture is proposing an Agricultural Workers Code that would allow for the free movement of agriculture so long as COVID-19 safe strategies are in place including individual record keeping, COVID-safe plans, the use of PPE and regular voluntary testing.
 
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Ministerial call for the removal of restrictions on agricultural workers crossing the NSW/Victoria border

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The Australian property market has managed to hold its value, according to PRD Real Estate’s recent market research report.
Despite the ill-effects of the COVID-19 shutdown, PRD reveals on average, median house prices grew in capital city, metropolitan and regional markets in the 12 months to the first half of 2020.
Capital city markets grew by 1.0 per cent on average, led by Melbourne, Sydney and Hobart. Regional markets performed best; up by 3.4 per cent.
PRD Real Estate Chief Economist, Diaswati Mardiasmo believes the market has shown great resilience.
“Whilst COVID-19 hit us swiftly this year and threw Australian economy and property markets into turmoil, things settled down within the property market quicker than initially thought”, she commented.
Australia has created a market balance thanks to the unprecedented release of multiple fiscal and monetary policy assistance, the report reveals.
Consumer confidence has returned to pre-COVID-19 levels with confidence up by
23.9 per cent in June 2020 after a plummet in April.
“Uncertainty about the health situation and the future strength of the economy is making many households and businesses cautious. However, despite the curveballs the property market has been remarkably resilient, and demand has been stronger than many people anticipated”, Dr Mardiasmo said.
Notably, new home sales increased by 77.6 per cent at the end of this financial year, from a record low result in May.
The HomeBuilder scheme is balancing the downturn in residential construction due to COVID-19 with upgraders accounting for 42 per cent of loans in June.
“The key going forward will be increasing levels of employment, public and private investment and consumer confidence based on the ongoing impact of COVID-19.” Dr Mardiasmo said.
“There is no doubt we are seeing signs of gradual improvement”.
 
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The Australian property market sees gradual improvement: PRD 

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<div class="column">Laing+Simmons has struck a new partnership with Making Meditation Mainstream, a local initiative with a national footprint and a global vision, to bring the supportive practice of mediation to local people and help tackle the challenges of mental health in the community. The offices at Laing+Simmons Narrabeen, Laing+Simmons Dee Why and the new Northern beaches team at Laing+Simmons Young Property have joined forces with Laing+Simmons head office to help Making Meditation Mainstream grow its movement to new suburban locations in Sydney, as well as other Australian cities and internationally locations as well.
Each Saturday at sunrise, Making Mediation Mainstream takes members of the community through a peaceful mediation experience to help them connect with nature and each other. Free to all and open to everybody, the movement has 14 locations in Australia and is growing, with the first international location soon to begin in Switzerland and Hawaii on the cards soon thereafter.
Laing+Simmons is known for its people-first culture which emphasises the need for its people to care for each other like they would a member of their family. The company has an Employee Assistance Program in place which makes confidential counselling services available free for team members who might be experiencing difficulties either in their work or personal lives.
The new partnership is a natural fit with the company’s family culture, said Laing+Simmons Managing Director Leanne Pilkington.
“Improving mental health outcomes for people in the Laing+Simmons family, including our team members, our customers and the communities in which we operate, is something we’re emotionally invested in. it makes sense for us to formalise a partnership with an organisation which shares the same values and, importantly, offers a solution,” Ms Pilkington said.
“Our head office staff as well as people from our Northern Beaches teams actively participate in the initiative. Societal mental health challenges have been exacerbated by the pandemic to lead many people to experience feelings of anxiety, stress, isolation, depression and more.
“By supporting Making Mediation Mainstream, which in turn supports Lifeline, we can make a tangible effort to provide a solution which some people will be able to derive real, transformative benefits from,” she said.
Making Meditation Mainstream was born on Sydney’s Northern Beaches in 2018 – a bad year for the area with 33 recorded suicides – with the objective of tackling mental health challenges through meditation as a supportive practice that can nurture a person’s connection to self, to nature and to each other.
It’s a registered charity which directly supports Lifeline on the Northern Beaches.
The partnership with Laing+Simmons comes at a time when Making Meditation Mainstream is gearing up for a major ‘Big Beach Sit’ event to coincide with Mental Health Month in October, in collaboration with Lifeline. Watch this space for more information on this world-first event.
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New partnership to tackle mental health on Sydney's northern beaches: Laing+Simmons

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Pre-listing activity was up in early August, according to CoreLogic's Early Market Indicators report.
The report found in contrast that listings and mortgage activity was down.
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Pre-listing activity is down 12.71% when compared YTD year on year.
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Newly advertised properties for sale have seen numbers drop this week down 1%. Their month on month changes saw a similar drop.
Newly advertised properties for rent have seen a much larger drop of 5%, however their month on month changes were not impacted as harshly.
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Mortgage activity is up year on year however did fall slightly this week down 0.24%
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There has been a notable increase in loans of every category barring MIP which fell significantly.
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Pre-listing activity is up while listings and mortgaging are down: CoreLogic

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McGrath Estate Agents have announced the opening of a new office in Cooma NSW. 
This will be the third new regional office in the past two months, following opening in Albury/Wondonga and Mansfield in Victoria.
Founder John McGrath believes that affordability provides a huge incentive for regional migration as families reassess their lifestyle options.
Mr McGrath said, “COVID has definitely accelerated the ability to work remotely and areas within a two hour radius of large towns and cities I believe will be very much sought after, particularly as a commute has never been easier with new infrastructure that connects the modern worker more readily and easily.”
The Snowy Monaro Shire’s roots are rich in history dating back to the 1800’s, however Cooma’s name and reputation has been highlighted as it is at the centre of Australia’s largest engineering project, the Snowy Mountains Hydro Electricity Scheme. The Shire itself is the main gateway to the Snowy Mountains, Kosciuszko National Park and within close proximity to Canberra and Queanbeyan, and just 1.5 hours to the south coast beaches.
Christopher Mourd, Head of Franchise Network for McGrath Estate Agents said, “We see real growth and opportunity in these key regional areas as they have outperformed their capital city counterparts through COVID.” (source: CoreLogic July 2020)
He adds, “The Snowy Mountains of NSW are a key lifestyle market for our ACT and NSW client base, who are increasingly attracted by its relaxed way of life, affordable housing, and sense of community. Cooma is central to this market, serviced by a local airport, excellent infrastructure and connectivity, the Goulburn Bombala Rail line as well as good health and educational facilities.
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“The region traditionally is a mixed grazing area, however it has benefitted greatly from the Snowy Hydro Scheme, and the ski resorts within an hour of Cooma. However, 2020 has seen the full approval of the nation’s largest renewable energy project, Snowy 2.0 which is expected to create more than 2,000 jobs during the construction peak with thousands of jobs generated indirectly. With its added employment opportunities, we believe it offers excellent opportunity for growth in the next few years as a major regional hub for treechangers and young families.”  
McGrath Cooma will service the area from Michelago in the north to Delgate in the south; and Bemboka in the east to Thredbo in the west. Key suburbs will include Cooma, Bredbo, Berridale, Jindabyne and Thredbo.
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McGrath Cooma will be led by Principal Shannon Fergusson previously operating his own agency Fergusson Real Estate and Property with his wife, Rachel since 2010. Shannon has been in the industry for more than 20 years, and living in Cooma since 2005. 
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The average median house price for Cooma is $320,000 with Shannon Fergusson achieving recent sales results in the last six months including:
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44 Kiah Avenue Cooma – A street record for a four-bedroom home sold for $615,000
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6 Stratos Place Cooma – A street record for a four-bedroom home sold for $597,000
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9 Tulong Avenue Cooma – A street record for a five-bedroom home sold for $499,000
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McGrath pushes further into regional lifestyle areas with a new office in Cooma, NSW

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CPlusC Architectural Workshop Pty Ltd has snapped up a vacant, freehold mixed-use building in Sydney’s East from a private investor for under $2.5 million, reflecting a significant building rate for vacant City Fringe assets. 
Located at <a href="https://www.realcommercial.com.au/sold/property-466-cleveland-street-surry-hills-nsw-2010-503554690" target="_blank">466 Cleveland Street, Surry Hills</a>, the two storey property offers a net lettable area of 182sqm (including 36sqm outdoor terrace) on a 147sqm site and is fitted with a commercial kitchen, grease trap, cool room and exhaust. 
There is a current DA in place for a dental practice and the building will benefit from the new Light Rail being constructed along Devonshire Street, connecting the East to Central Station and the CBD. The proposed stop will be a 100m walk to the corner or Bourke Street and Devonshire Street. This will be in conjunction with the current extensive bus network just moments away. 
The property sold through Ollie Ridley, Nick Lower and Selin Ince of Savills Australia who said there was a lot of interest from local investors, developers and owner occupiers looking for a trophy asset in an enviable location.
According to Ollie Ridley, Executive, Metropolitan &amp; Regional Sales at Savills Australia, “The repositioning potential and DA approval was especially appealing to those within the dentistry/healthcare world, along with other affiliated fields looking for high exposure locations within prime Inner-City locations”.
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Surry Hills dental practice space sells to architects

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A freestanding commercial investment with development upside has sold for $8,500,000 under the hammer at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=S0FkYXRBL0pXU1R3ak9mT011UE1ZUkJvb2ZNQnUxdERqcHp0UUpKT1cvUVFxbmdxZFhzTGJQSEpGTHVVWW95QnJVNmoyc0RySkhYc1cxd053aG1UOWZhcXFwcUpzaFBKam9MK0grZlBvd2ljZi9COW5LaGZ1K3RVSWw2TmQxdndNWDYyUTU0cGgrREh5cURWRU1JTVlMdmlXdmhNeG90QjNzd01mc09iNjJSY0VYVm5KaGVhZVhiVWgwenBaTXNY&amp;rh=ff0065c7450d709ea5552ae9a04bacc4ff82fe1a" target="_blank">2-4 Palmer Street</a> in Parramatta.   The property, that came with a 685sqm building area and 600sqm land area, was sold at auction on a 2.9 per cent yield.   The asset was marketed and sold by Ray White agents Samuel Hadgelias and Jeff Moxham, in conjunction with Anthony Khoury and Jon Race of Khoury Partners. “Freehold commercial opportunities with upside are a rare commodity in the Parramatta CBD and that’s why this asset attracted seven registered bidders,” Mr Moxham said.
“The sale being in excess of the reserve price is further evidence the commercial market remains strong despite the negative speculation regarding Australian property markets in the wake of rising cases of COVID-19,” Mr Hadgelias said.    “The low yield is consistent with other freehold buildings that have traded nearby and evidences the continued strong demand for 'value add' assets with future development potential,” Mr Khoury said.
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Parramatta commercial investment sells for $8.5 million at auction

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Liverpool’s innovation credentials have been recognised on the world stage as it joins a select group of 20 global innovation precincts through the Global Institute on Innovation Districts.  
“The Liverpool Innovation Precinct was established in partnership between Council and local health, education and research institutions to harness the city’s strengths,” Liverpool Mayor Wendy Waller said.  
“By accepting an invitation to join this global network, Liverpool is now among fantastic company. Member cities include Toronto and Pittsburgh, known for their cutting-edge technology and creative industries.” 
The news comes off the back of the NSW Government’s announcement that up to 450 of CSIRO’s Sydney-based staff will relocate to a state-of-the-art facility at the Western Sydney Aerotropolis by 2026, in-line with the opening of Western Sydney International (Nancy-Bird Walton) Airport.  
“What we’re seeing through continued collaboration and investment from other levels of government and the tertiary education and private sectors is global recognition of Liverpool and the nearby Aerotropolis as cities of the future,” Mayor Waller said.  
“Global companies including Northrop Grumman, Hitachi and Amazon, top-ranking Australian universities and now the national science research agency want to call the Liverpool area home. 
“There’s a bright future ahead for Sydney’s third CBD, with all this investment in commercial operations, transport, freight and education infrastructure bringing new job opportunities for our growing city.” 
Alongside the $740 million upgrade of Liverpool Hospital, many Council-led initiatives demonstrate the power of innovation and collaboration to improve services and the city’s liveability.  
“Council’s latest example of innovation and collaboration is our support of the Maxar Spatial Challenge alongside other partners such as Amazon Web Services and the Australian Space Agency,” Mayor Waller said.  
“The national challenge, which launches this month, encourages participants to make use of satellite data to address key challenges such as mapping population density or an area’s tree canopy which could help reduce the urban heat island effect.  
“Other innovative Council initiatives include a project to track the movements of people in the Liverpool CBD to better inform planning decisions and our Fifteenth Avenue Smart Transit (FAST) Corridor vision for a rapid transit corridor which could be future-proofed for new technologies such as driverless electric buses and trackless trams.”
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Liverpool recognised globally as city of innovation  

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Queensland Premier Annastacia Palaszczuk placed tighter restrictions on auction gatherings in Gold Coast homes from 8am, on Saturday, 29 August. 
“Coming into effect from 8:00am Saturday, we are going to extend those limits of people inside your homes to 10 people, and those gatherings outside to 10,” Ms Palaszczuk said.
“I think everyone would agree, we acted very swiftly when it came to those earlier cases with the Brisbane Youth Detention Centre and we know people travel a lot from the Gold Coast to Brisbane, and it makes sense to extend that.”
The Real Estate Institute of Queensland (REIQ) issued guidelines:
“Owners, tenants and agents must continue to take reasonable steps to encourage visitors to any premises to practise physical distancing and hygiene practices as required and that open home inspections, rental inspections and auctions be limited as required by the new directive.
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Gold Coast gets tightened auction restrictions amid COVID-19 concerns

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

Joel Robinson

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

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Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

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According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

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Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

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Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

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Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

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Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

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Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

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SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

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<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

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Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

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According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

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The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

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Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

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While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

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"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

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Staff reporter

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