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A resort-style home in Sydney’s northern beaches has been listed for sale. 
It has been offered by Ray White Palm Beach agent Noel Nicholson with a price guide of $8.2 million to $9 million.
Positioned across a 1,517 square metre parcel of land, the 610 square metre home at <a href="https://www.realestate.com.au/property-house-nsw-bayview-129889666" target="_blank">1903-1905 Pittwater Road, Bayview</a> comes with six ensuite bedrooms, stone-topped kitchen, multiple living/dining zones, games/sports room and home theatre.
<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/2018/12/3/bayview%202.jpg" alt="">
Other features include alfresco terrace, lush lawns, wine cellar, mosaic tiled pool, and triple garage.
John and Jenny Bassetto secured the 1,517 square metre parcel of prime land to create their dream home.
The couple recruited architect Paris Spana to design a six-bedroom, six-bathroom double-storey home which takes full advantage of the spectacular Pittwater views.
<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/2018/12/3/bayview%203.jpg" alt=""> 
Nicholson said he’s been blown away by the early level of interest in this extraordinary property.
“Having said all that, this house is designed for raising a family and enjoying the privacy and quiet of just sitting and looking at the view of kayaks, boats and paddle boarders or the stunning outlook down to Lion Island,” he said.
“Architecturally designed to take full advantage of a level double block and spectacular Pittwater views, this is a remarkable residence by every standard.”
The suburb's median house price sits at <a href="/developments/bayview-nsw-2104">$1.9 million</a>, according to CoreLogic. 
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Resort-style Paris Spana-designed Bayview trophy home

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At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent.
The global economic expansion is continuing and unemployment rates in most advanced economies are low. There are, however, some signs of a slowdown in global trade, partly stemming from ongoing trade tensions. Growth in China has slowed a little, with the authorities easing policy while continuing to pay close attention to the risks in the financial sector. Globally, inflation remains low, although it has increased due to the earlier lift in oil prices and faster wages growth. A further pick-up in core inflation is expected given the tight labour markets and, in the United States, the sizeable fiscal stimulus.
Financial conditions in the advanced economies remain expansionary but have tightened somewhat. Equity prices have declined and credit spreads have moved a little higher. There has also been a broad-based appreciation of the US dollar this year. In Australia, money-market interest rates have declined, after increasing earlier in the year. Standard variable mortgage rates are a little higher than a few months ago and the rates charged to new borrowers for housing are generally lower than for outstanding loans.
The Australian economy is performing well. The central scenario is for GDP growth to average around 3½ per cent over this year and next, before slowing in 2020 due to slower growth in exports of resources. Business conditions are positive and non-mining business investment is expected to increase. Higher levels of public infrastructure investment are also supporting the economy, as is growth in resource exports. One continuing source of uncertainty is the outlook for household consumption. Growth in household income remains low, debt levels are high and some asset prices have declined. The drought has led to difficult conditions in parts of the farm sector.
Australia's terms of trade have increased over the past couple of years and have been stronger than earlier expected. This has helped boost national income. Most commodity prices have, however, declined recently, with oil prices falling significantly. The Australian dollar remains within the range that it has been in over the past two years on a trade-weighted basis.
The outlook for the labour market remains positive. The unemployment rate is 5 per cent, the lowest in six years. With the economy expected to continue to grow above trend, a further reduction in the unemployment rate is likely. The vacancy rate is high and there are reports of skills shortages in some areas. The stronger labour market has led to some pick-up in wages growth, which is a welcome development. The improvement in the economy should see some further lift in wages growth over time, although this is still expected to be a gradual process.
Inflation remains low and stable. Over the past year, CPI inflation was 1.9 per cent and in underlying terms inflation was 1¾ per cent. Inflation is expected to pick up over the next couple of years, with the pick-up likely to be gradual. The central scenario is for inflation to be 2¼ per cent in 2019 and a bit higher in the following year.
Conditions in the Sydney and Melbourne housing markets have continued to ease and nationwide measures of rent inflation remain low. Credit conditions for some borrowers are tighter than they have been for some time, with some lenders having a reduced appetite to lend. The demand for credit by investors in the housing market has slowed noticeably as the dynamics of the housing market have changed. Growth in credit extended to owner-occupiers has eased to an annualised pace of 5–6 per cent. Mortgage rates remain low, with competition strongest for borrowers of high credit quality.
The low level of interest rates is continuing to support the Australian economy. Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual. Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.
Source <a href="https://www.rba.gov.au/media-releases/2018/mr-18-31" target="_blank">RBA</a>
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Dynamics of housing market have changed: RBA Governor Philip Lowe

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The December meeting of the RBA has seen the cash rate remain on hold at 1.5 percent.
It has now stayed at record lows for 28 consecutive months, and 26 consecutive meetings.
The August rate hold marked the two year anniversary of the last change to the cash rate by the RBA.  
Australian mortgage holders could "go a decade without experiencing an increase in official interest rates by the Reserve Bank of Australia (RBA), says mortgage broker 1300HomeLoan Managing Director John Kolenda.
"Its last rate rise from 4.5 per cent to 4.75 per cent was way back in November, 2010.
“Since the central bank last lifted official rates there have been 12 rate reductions, with the RBA now staying on the sidelines for more than two years,” Mr Kolenda said.
“With no evidence of a significant improvement in the domestic economy, many forecasters expect the cash rate will remain on hold through 2019 and also the following year.
“That means a whole generation of mortgage holders could go an entire decade without seeing official rates rise, although they will have experienced out of cycle rate movements from lenders.”
CoreLogic's head of research Tim Lawless said its hard to gauge the RBA's view on housing market conditions.
"The longest period of interest rate stability on record has extended out another month, with the RBA keeping the cash rate on hold at 1.5% where it has remained since they cut the cash rate by 25 basis points in May and August of 2016. 
"Considering the diversity of economic conditions, the hold decision comes as no surprise. 
"Labour markets are improving, but wages growth remains sluggish and inflation has softened. 
"It’s a bit harder to gauge the RBA’s view on housing market conditions, with the RBA continuing to call out weakening conditions in Sydney and Melbourne. 
"CoreLogic data to the end of November highlighted that the Sydney market has already recorded a 9.5% decline in values since peaking in July last year and will likely surpass the previous record peak to trough decline of 9.6% which was set during the last recession between 1989 and 1991.
"Despite this weakness in the largest cites, dwelling values in Sydney remain 41% higher than they were five years ago and Melbourne values are still 38% higher both of which show five year growth rates well in excess of most other capital city markets. 
"Additionally, five of the eight capital cities have posted a capital gain over year to date however, from a macro view they have much less of an influence on the national figures than Sydney and Melbourne do.
"To date we haven’t seen the housing downturn impacting on household consumption or saving, however this is likely to be a key factor the RBA will be monitoring.  
Siobhan Hayden, COO of online home loan marketplace HashChing, said Christmas is the best time to hunt around for a new home loan.
“The Christmas and New Year period is an expensive time of year, and one that forces many of us to consider our current financial position. The great thing is that it’s also a highly competitive season in the market – making it the perfect time to hunt around for a new home loan, or even help a loved one find the best rate on theirs.
“It’s fantastic to see an uptick in borrower’s actively taking charge of their financial position and getting ahead of likely interest rate rises in 2019.”
“As anticipated, falling house prices have warmed the market, particularly in the lower end of the market (&gt;$1.3m), however with the cash rate expected to increase next year it will be interesting to see whether this demand continues."
HashChing's broker survey found almost half (48 per cent) of the brokers surveyed agree with Morgan Stanley’s forecast that national house prices could fall by up to 15 per cent in 2019. 
 
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RBA leaves cash rate unchanged through 2018 at 1.5 percent at December meeting

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The private real estate group Markham has bought Sydney's popular King Street Wharf development.
Located next to the Barangaroo precinct, King Street Wharf has been sold for $125.5 million, on a yield of 6.02 per cent.
It was listed in January at $130 million.
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It was a 99-year leasehold of the first project built in the area, opening just before the Sydney Olympic Games in 2000.
LaSalle Investment Management had paid about $90 million in 2016 for about $90 million having bought it from Brookfield Multiplex who developed the property.
Its 14 tenants include the Cargo Bar, the Malaya restaurant, and Bungalow 8.
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Markham spent $90.5 million in May this year on the office space at the northern end of the Piers 8&amp;9, Walsh Bay.
In 2016 Markham and development heavyweight Lend Lease teamed up to buy the Sydney Superyacht Marina.
Markham is headed by James Markham and Cameron Habler.
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Markham adds another wharf to its Sydney portfolio

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Burbank Homes has secured an accolade at the recent 2018 at the Master Builders Association New South Wales Excellence in Housing Awards.
The homebuilder secured the best ‘Exhibition/Project Home’ in the $400,001 - $500,000 price category for its Denman 257 display home in Googong.
Denman 257 offers 256 square metre properties priced from $400,001.
The Burbank Group Managing Director, Jarrod Sanfilippo, said the group was proud to be recognized for its work by its peers.
“We entered the New South Wales homebuilding market in 2016, building on our success in Victoria and Queensland, and have seen a strong response to our innovative home designs, particularly with first and second homebuyers,” said Sanfilippo.
“We are one of the only major homebuilders in NSW with a sloping lot design on display and this has proved to be popular as customers want to see what the design looks like first hand when embarking on challenging home builds.”
The Denman 257 display home is open at the Googong estate, Leon Street, Googong, New South Wales between 12pm – 5pm Monday to Friday and 11am – 5pm on weekends.
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Burbank Homes wins MBA of NSW award for Googong display home 

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Blueprints are being finalised on the redesign of Maasra Apartments in Coorparoo.
Award-winning architectural firm HAL Architects was appointed by Maasra Apartments developer Karam Group to create the ‘house-size’ apartments.
HAL Architects Director Elizabeth Anderson (pictured below) said Maasra Apartments design has been in response to requests for larger spaces.
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“Karam Group has an appreciation of the importance of good design, and they wanted MaasraApartments to go that step further by enhancing Coorparoo’s transformation into a hub for boutique retail and dining,” she said.
Anderson said the group’s brief was to encompass Coorparoo’s history and enhance the village-like atmosphere, using a “maasra” - a Mediterranean olive press - as the theme for the building design.
“To express that in architectural form, we looked at the olive press and thought; this development is about authenticity, it’s about honesty and community,” Anderson added.
"All those ideas are entrenched in the design of Maasra Apartments, in everything from the finishes through to the layouts, from the sense of space to the large over-sized kitchens - the design is very much about liveability.
“And of course, materiality; the materials selected are stylish, honest and robust with a longevity tothem and a quality you can feel - beautiful stone kitchen finishes and timber veneers that express warmth and a sense of home.”
<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/2018/11/26/Maasra%20Apartments%20Type%20C%20Bedroom.jpg" alt="">
Anderson is one of three directors and a part owner of HAL Architects- Hayes Anderson Lynch Architects, established more than four decades ago as Kevin Hayes Architects.
Its other work in Brisbane includes the $65 million mixed-use boutique apartment building The Wellington in East Brisbane and the $37 million Willow residential apartments at Kangaroo Point.
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Construction moves closer on $95 million Maasra Apartments in Coorparoo with new designs

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Vicki Jones, the former Nine Network programming executive, has listed in Palm Beach.
The Sunrise Road weekender was designed by Gerald Nettleton as his own holiday home before he sold it to Jones for $1,326,000 in 1997.
Set on 815 square metres, the three bedroom home with solid timber beams and double height ceilings has full length decks on both levels, one featuring an in-ground spa.
The fully self-contained lower level with its own entrance. 
LJ Hooker Palm Beach agents David Edwards and Danielle Ford have the listing. It comes with approval for a third level and additional guest accommodation.
Jones, who founded online store Hotel Luxury Collection, worked at Nine from 1974 until the late 1980s.
She was briefly made Nine's network star stylist after masterminding the wedding of James and Jodhi Packer in 1999.
Jones has previously been a director at The Sydney Festival.
This article first appeared in The Daily Telegraph. 
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Former Nine executive Vicki Jones lists in Palm Beach

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GUEST OBSERVATION
An increasing number of older Australians are living in share housing. A relatively new group to emerge on the share-housing scene, they are choosing to share for financial reasons, but finding unexpected social benefits.
Share housing has traditionally been associated with student housing and media depictions of the share house as dysfunctional, chaotic, “He Died with a Falafel in His Hand” scenarios. But a growing number of older people are sharing housing.
This trend is part of the growth in share housing across an increasingly broad demographic as professionals aged in their 30s, 40s and onwards continue to share house or return to share housing into later life. Generation Rent is fast becoming “Generation Share”.
The growing trend of share households is attributed to a combination of shifting social norms and a decline in affordable rental properties. This is particularly acute in our capital cities but is also evident in regional centres.
An emerging group of tenants – professionals, couples, young families and students – who cannot afford to buy or rent an entire property of their own are increasingly turning to shared occupancy as a way to afford housing. Home owners are also noted as a group for whom shared occupancy has benefits by generating extra income for mortgage repayments.
Tight budgets affect all ages
My research on share housing across all age groups shows it’s mainly driven by financial constraints. In older age, the experience of this is gendered. Although older men are sharing, women in particular are more vulnerable to significant financial constraints in old age.
Women are the fastest-growing group at risk of homelessness in Australia. Many have limited superannuation to draw upon due to time out of the workforce to raise children or manage the home. This means the ramifications of the gender wage gap are particularly visible in older life – to quote one participant, “a man is not a superannuation”.
A common scenario is people falling out of home ownership after divorce or a relationship breakdown. Without the family home and with limited material assets, share housing is one of a diminishing set of options for living affordably and securely.
Share housing has its challenges
Moving into share housing in later life can be an adjustment. Many older people are in share housing for the first time in their life, having previously owned their own home.
There are obvious social challenges inherent in this situation. These include learning to negotiate domestic spaces in new ways. And certainly many are vulnerable to being exploited by unscrupulous flatmates, head tenants, or landlords.
Similar to share-housing experiences among younger groups, older participants mentioned occasional household conflicts and were aware of the need for personal space.
But there are also social benefits
However, some also reflect positively on the social value of share housing. This has been an unexpected benefit for many of them. At an age when isolation and loneliness increase, this is particularly important.
Older residents value the social aspects and the new friendships that sometimes develop in share houses. Flow-on effects of this include an increase in their sense of safety and security, knowing that they are not alone should anything untoward happen.
Long-term policy challenges loom
Although share housing in older age has social benefits, its rise should prompt us to reflect critically on Australia’s housing market as well as rethinking retirement policy. Share housing is directly correlated to declining housing affordability.
These trends highlight systematic disinvestment in public and social housing for the past 30 years as well as a market that has encouraged housing as a site of investment. The result is a system that has produced housing as a site of profit rather than housing as a site of home.
For older people, the situation is particularly complex. Australia’s retirement policies promote home ownership as the pathway to a financially secure old age. That leaves the growing number of older Australians who don’t own their own home to experience increased financial stress.
The Australian Dream of the owner-occupied home is quickly becoming that – a dream rather than reality for many Australians. The cracks are starting to show. As people fall out of home ownership and the younger generations doubt they’ll ever own a home – they’re not called Generation Rent for nothing – Generation Share will present significant challenges for policy.
Sophia Maalsen, I.B. Fell Postdoctoral Researcher, School of Architecture, Design and Planning, University of Sydney
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/generation-share-why-more-older-australians-are-living-in-share-houses-107183" target="_blank">original article</a>.
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Why more older Australians are living in share houses: Sophia Maalsen

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Film art director Nicholas Dare and his wife, Adobe executive Jadanne Dare, sold their Beaconsfield terrace at weekend auction for $1.33 million.
Dare, whose recent work credits include work on Pacific Rim: Uprising, Hacksaw Ridge and Alien: Covenant, had expected $1.25 million for the three bedroom corner terrace.
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Art director Nicholas Dare sells Beaconsfield terrace at auction

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The Mount Waverley office in the Barry Plant estate agency group have been been found guilty and fined for underquoting.
They have been fined $720,000, plus $30,000 costs, after the Federal Court of Australia found it had engaged in misleading or deceptive conduct and making false representations about property sales.
It is not the heaviest fine as Fletcher and Parker were fined $880,000 for underquoting last year. And <a href="/news/hockingstuart-fined-330-000-for-underquoting">hockingstuart who were also fined $330,000</a>.
The breaches, of the Australian Consumer Law, relate to conduct at the Mount Waverley office which is owned by Melbourne South Eastern Real Estate Pty Ltd.
They also operate Barry Plant offices in Oakleigh and Wheelers Hill.
The fine concerns 25 property sale listings on the realestate.com.au website between September 2014 and August 2015.
The properties were in Ashwood, Burwood, Burwood East, Chadstone, Hughesdale, Mount Waverley and Wheelers Hill.
The company admitted that, when uploading properties for sale, it had set price search parameters that were less than the appraisal price, and estimated selling price written on the sale authority (for some of the properties).
The $720,000 penalty exceeds the $490,923.67 in commissions the agency received for selling those properties.
The Herald Sun reported the case of two Mt Waverley homes, the agency had instructions from the vendors “not to sell them below a certain price, which was … more or substantially more than either the display price or the blind price,” Justice Mortimer said.
The vendors of one, located at 17 Gordon Rd (pictured in title), said they wouldn’t accept an offer of less than $1.2 million. However a blind price was set at $950,000 and the property eventually sold for $1.333 million.
The Federal Court's Justice Mortimer said this example showed “the deliberateness of the strategies employed”, adding house hunters were “entitled not to be misled about the likely selling price of a property”.
As part of the ruling Melbourne South Eastern Real Estate must also issue a public notice acknowledging their contraventions and publish it on all websites the company operates, and on realestate.com.au as well as display it in the Mount Waverley office. 
The company must also implement a compliance program, including training its staff about their legal obligations under the Australian Consumer Law, and appoint a compliance officer to ensure the program is effectively designed, delivered and maintained.
The vigilant department also secured $60,000 after Consumer Affairs Victoria investigated Harcourts Wantirna and its sole director, Achilles Mantsos, after receiving 17 complaints about the company’s conduct between April and July of 2015.
The company acknowledged contraventions relating to four properties under the Australian Consumer Law (Victoria) and 20 properties under the Estate Agents Act 1980 (EAA).
The company routinely set price search parameters when uploading properties for sale on realestate.com.au, which were substantially less than the estimated selling range (ESR) or estimated selling price (ESP) on those properties’ sale authorities.
As a result, potential buyers searching for properties would enter their nominated price range, and find listings from Harcourts Wantirna for homes whose ESR or ESP was much higher.
In one example, a Wantirna property was advertised for $750,000, when the ESR was listed on the sale authority as $900,000 to $990,000. Another was advertised at “$580,000 plus”, when the ESR was $690,000 to $750,000.
On other occasions, the company provided an ESR where the difference between the upper and lower range limits was more than 10 per cent of the range’s lower limit, in contravention of the EAA. 
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Barry Plant cops $720,000 fine for underquoting home prices

Investors may soon find themselves with fewer reasons to buy established property and more incentives to look towards the new apartment market.

Proposed changes to negative gearing and capital gains tax concessions would see new and off-the-plan apartments retain access to the tax benefits, while established properties would miss out, creating a clear advantage for buyers purchasing newly built housing.

The policy direction aligns with what many developers have been saying for several years. Australia needs more housing supply, and governments are increasingly looking for ways to encourage investment into new stock rather than existing homes.

The challenge for investors is that suitable product is becoming harder to find.

For much of the last decade, one-bedroom apartments were the cornerstone of investor demand. They offered a lower entry price, strong rental appeal, and were a common feature across most apartment developments.

Today, the development pipeline looks very different.

Across both New South Wales and South East Queensland, developers are increasingly targeting owner-occupiers and downsizers, delivering larger two, three and four-bedroom apartments in response to changing buyer preferences. While one-bedroom apartments still exist, they now form a much smaller portion of many new projects.

That shift has created a shortage of investor-friendly stock, particularly in well-located projects close to transport, employment hubs and lifestyle amenity.

At the same time, rising apartment prices have pushed many new developments beyond the reach of traditional investors. On the Gold Coast and across South East Queensland, it's becoming increasingly difficult to find new apartments priced around the $1 million mark, particularly those offering strong rental fundamentals and long-term growth prospects.

We've rounded up four new apartment developments where investors can still secure a foothold in the market for around $1 million or less.

<h2 data-end="1140" data-start="844">Flourish Soleira</h2>

<h2>Priced from: $1.07 million</h2>

Popular Palm Beach developer Sherpa is soon to officially launch its newest local apartment development, Flourish Soleira.

The one-bedroom apartments in the building were only offered to first home buyers rather than investors, and all of those have been snapped up. The two-bedroom apartments will start from $1.07 million, and the three-bedrooms, still a good investment given the popularity of Palm Beach for owner-occupiers, starting at $2,045,000.

&nbsp;

[smartcode_project:default project_id=150017 project_image_fid=370964]

Flourish Soliera will comprise 153 apartments across two buildings, connected by a skybridge, the first ever delivered in the suburb.

True to Sherpa's booming Flourish brand of apartment projects, Flourish Soleira will have extensive rooftop amenity across both buildings including a&nbsp;wellness centre with gym, work from home, yoga, pilates, a&nbsp;heated pool, private dining rooms, pizza oven and barbecues, basketball court, and golf simulator.

<h2>Corallo, Palm Beach</h2>

Priced from: $841,500

Nearby Flourish Soleira is Changfa Group's beachfront-inspired Corallo development. They still have some one-bedroom apartments remaining, priced from $841,500.

The 105-apartment project on Palm Beach Avenue is otherwise dominated by larger two and three-bedroom residences, many of which are aimed at owner-occupiers and downsizers.

[smartcode_project:default project_id=112194 project_image_fid=808]

For investors, the appeal lies in Palm Beach's continued transformation from a laid-back beachside suburb into one of the Gold Coast's most sought-after residential markets. Residents at Corallo will be within walking distance of Palm Beach's surf beaches, the recreational amenity of Tallebudgera Creek, and the increasingly popular collection of cafes, restaurants and boutique retailers along the suburb's central dining precinct.

<h2>Corner House, Stones Corner</h2>

<h2>Priced from: $880,000</h2>

One of only two Brisbane apartment developments to make the list with prices under $1 million is DeMartini Fletcher's Corner House development in Stones Corner.

One-bedroom apartments start from $880,000 within the 88-apartment development, providing investors with exposure to one of Brisbane's most established inner-south locations.

[smartcode_project:default project_id=149098 project_image_fid=330594]

Stones Corner has long been supported by strong tenant demand due to its proximity to major employment and education destinations. The suburb sits less than five kilometres from Brisbane's CBD and is within easy reach of the Princess Alexandra Hospital, Greenslopes Private Hospital, Queensland Children's Hospital and several university campuses.

The project's location within a walkable urban village environment, surrounded by retail, dining and public transport infrastructure, continues to attract both professionals and healthcare workers seeking accommodation close to work.

Parkdrive Apartments, Chermside

Priced from: $749,000

The most affordable apartments across Brisbane's new and off the plan market are in Chermside where developer AusDev is selling one-bedroom apartments from $749,000, and two-beds from $929,000, at its recently launched Parkdrive development.

The development is strategically positioned in one of Brisbane's largest employment and retail precincts, placing residents within easy walking distance of Westfield Chermside, The Prince Charles Hospital, St Vincent's Private Hospital Northside and the suburb's major bus interchange.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Already under construction and scheduled for completion in early 2028, Parkdrive benefits from Chermside's ongoing evolution into Brisbane's northern metropolitan centre. The suburb continues to attract significant public and private investment, supporting population growth and underpinning long-term rental demand.

For investors focused on yield and tenant depth, the combination of healthcare, retail and transport infrastructure within close proximity provides a strong foundation for occupancy and rental performance.

Joel Robinson

Investors to turn to new apartments after Federal Government changes spark hunt for Queensland's best $1 million apartments

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]

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.

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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.

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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.

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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.

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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.

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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.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

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

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

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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.

Staff reporter

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