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An Elsternwick retail investment with potential development opportunity has been listed.
It’s the first time in 50 years the property has been offered for sale.
The 614 square metre property at 1-3 Horne Street has 20 metres of frontage to Glen Huntly Road.
The listing is being handled by CBRE’s Rorey James, Julian White, Nic Hage and JJ Heng.
James said the offering was an attractive proposition fro investors looking for a development prospect.
“This is an exciting opportunity given the asset has been held by the same family for 50 years,” James said.
“The property is well-connected via public transport and is near substantial retail amenity, including the proposed Woolworths development.
“These investment fundamentals should be a very attractive prospect for all buyers.”
Mr White, State Director of CBRE Victorian Development Sites, noted: “We expect solid interest from investors who see value in the three retail shops, together with occupiers wanting to capitalise on this substantial landholding.
“The flexibility of the existing improvements and income allows the site to be land-banked, and we anticipate this will appeal to developers who are taking a long-term position on the market.” 
The site will go to auction onsite on Wednesday December 12 at 12.30pm.
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j.ballantyne1990-6AQqhLzZaK

Elsternwick retail investment hits the market for the first time in 50 years

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EXPERT OBSERVATION
Labour market data provided two contrasting perspectives on Australia’s economy. Meanwhile, consumer sentiment strengthened, and business conditions remained above average.
Following last month’s 5.0% unemployment rate, a level historically regarded as consistent with full employment, the <a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2018/November/Labour-FI_chart_packOct18.pdf" target="_blank">Australian labour force survey for October</a> was keenly awaited. It certainly did not disappoint, with the unemployment rate remaining at 5.0% despite a partial reversal of the 0.2ppt decline in participation seen in September. On a multi-month basis, it is employment not participation that is driving the unemployment downtrend. At October, annual employment growth stood at 2.5%yr, nearly a percentage point above population growth. Furthermore, those gains have largely been full-time in nature.
The above trend is favourable for household income growth, increasing aggregate hours worked across the economy and reducing slack. However, this tightening of the labour market is yet to stoke wages growth. In the September quarter, <a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2018/November/WPI_Q32018.pdf" target="_blank">the wage price index</a> rose just 0.6% (2.3%yr) and was weaker still for the private sector at 0.5% (2.1%yr). Arguably this disconnect between wages and employment growth is in part due to considerable underemployment (those working less hours than they would like to). That said, the current level of underutilisation is historically consistent with wages growth around 2.5%yr, not the 2.1%yr currently being seen in the private sector. Herein is evidence of other factors being at play, principally globalisation; technology; and a focus on efficiency amongst large corporates.
In terms of the outlook for wages, it is troublesome that the states of NSW and Vic, who have seen a more aggressive downtrend in unemployment and underemployment, are also yet to see a substantial lift in wages growth, respectively 2.2%yr and 2.5%yr at September.
The enduring disconnect between wages and employment arguably is a key reason why <a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2018/November/er20181114BullConsumerSentiment.pdf" target="_blank">family finance perceptions</a> continue to lag households’ economic and labour market expectations; and now, even as family finance views are shifting to above long-run average levels, why ‘time to buy a major household item’ is at 18 month lows and spending intentions for Christmas are the weakest they have been since 2014. House price expectations, which are now on par with their lowest ever level back to mid-2009, are decidedly unfavorable for spending, as is the pressing cash-flow reality of high household debt. Weakness in consumer spending was also evident in the <a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2018/November/er20181113BullAustralianBusinessConditionsOct.pdf" target="_blank">NAB business survey</a> for October, particularly in NSW. That said, while confidence is now below average in aggregate, conditions for businesses remain above average overall on the back of robust trading conditions and profitability.
Moving offshore, data released this week for China points to the investment trend having troughed. That said, the acceleration in activity will be slow in coming amid headwinds from ongoing structural change in the finance sector and, to a lesser extent, uncertainty associated with trade policy. On that front, murmurs of the US’ being willing to compromise with China on trade bolstered markets overnight. President Trump will meet President Xi at the end of the month. The hope is that this conversation can turn the tide and stop any further intensification of tensions. This would only be a starting point for negotiations however. Many hurdles must be overcome for a lasting solution to be attained.
For the US, data has been light but broadly supportive of the ongoing robust, non-inflationary uptrend in activity continuing, with the CPI benign in October (annual core inflation at 2.1%yr) as retail sales beat expectations (0.8%). Admittedly retail sales were bolstered by Hurricane season replacement spending in October and higher oil prices in the month, but underlying momentum remained robust. Chair Powell again showed confidence in the US economy and the outlook this week despite weakening residential investment and uncertainty over the lasting benefit of fiscal policy to growth. Recent market volatility is not a material concern, nor are global risks and trade tensions. But all are being watched closely. The move to hold a press conference after every FOMC meeting and to review “strategies, tools and communication practices” highlight a desire by Chair Powell and the Committee to be more nimble as this cycle matures. 
For Europe (and the UK), Brexit has again been the focus. A brief respite from Brexit uncertainty was seen mid-week as the UK Cabinet rubber stamped a transition deal agreed by UK and European negotiators. But multiple ministerial resignations the day after consequently put Prime Minister May’s position and the deal in jeopardy. It is not at all clear if the current deal will remain let alone what a replacement deal might look like. Of course the final deal, whatever its terms, then has to be passed by both the UK and EU parliaments. On the Italian budget, the Government has remained steadfast in not adjusting the proposal in response to disagreement from the European Commission. Whether the European Commission goes through with imposing infringement penalties will be of key interest in the weeks ahead.  
Elliot Clarke is senior economist at Westpac and can be contacted <a href="https://www.westpac.com.au/" target="_blank">here</a>.
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Strong jobs growth yet to spur wages and spending: Elliot Clarke

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Resimax Group has announced a joint venture acquisition with Hyde Property Group over 218 hectares of land in the Eynesbury Township in Melbourne's west.
The partnership deal is set to fast-track delivery of key infrastructure in the area, including the development of Mt Mary Road, which will connect the Eynesbury Township, home to 2,400 residents, to the city of Wyndham.
It will also fast-track the development of the state government primary school and Eynesbury's sporting facilities.
Resimax Group's delivery team will be at the helm of the project.
Resmiax Group managing director Ozzie Kheir said they are thrilled to work alongside Hyde Property Group to deliver on the potential of Eynesbury Township. 
"Eynesbury is one of the most exciting developments in Australia, both in terms of its scale and potential end use – the opportunities are endless," Kheir said.
“When you visit Eynesbury you can’t help but fall in love with the place – from the protected native vegetation that sprawls the estate, the 18-hole professional golf course and the heritage bluestone Homestead with cosy fireplaces, you instantly feel at home.
“In years to come I have no doubt Eynesbury will be known as a premium housing estate with a great community and we look forward to working closely with the existing Eynesbury community to re-invigorate the Township and open up the unique Eynesbury lifestyle to a whole new group of residents,” said Kheir. 
Russell Jackson, CEO of Hyde Property Group, said they chose to partner with Resimax Group over a number of offers as it provides continuity of delivery with the existing Eynesbury Township. 
“The purchase and associated refinancing of the site allows us to ramp up delivery of key infrastructure that will open up the Township to the City of Wyndham and improve the connectivity with the City of Melton," Jackson said.
“We thank our residents and stakeholders for their patience during this process and believe that the deal we have brokered is an incredible outcome for everyone associated with Eynesbury."
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Resimax partners with Hyde Property Group for 218 hectare Eynesbury development

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A Richmond commercial site with development potential has sold under the hammer for $2.61 million.
The rectangular, 222 square metre site at 25 Howard Street has a 215 square metre building which currently includes mix of private offices and open plan work space.
According to selling agents, Teska Caron’s George Takis, Matthew Feld, and Larry Takis, six bidders made a total of 65 bids before the property sold at a land rate of $11.757 a square metre.
The property was sold with vacant possession.
George Takis said the site’s corner location had attracted developer interest, but the property ended up selling to an investor who would initially use it as a rental property.
“This was an outstanding result for a property which offered something for a range of potential purchasers,” he said.
“Ultimately the sale reflected the ongoing strength of the market for sub $5 million properties in the best locations.”
Feld said the property’s location just off Church Street was also a selling point.
“Demand drivers include the close proximity to the CBD, to rail and tram transport, to the Monash Freeway/CityLink, the strong population growth and the strong demand from smaller businesses to locate on the city fringe with cheaper rents and parking,” Feld said. 
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Six bidders push Richmond commercial site auction to $2.61 million

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The NSW Sheriff’s office has cancelled this week's scheduled auction of the Bondi hoarders home.
The solicitors for Waverley Council have received payment from the current occupants in satisfaction of the outstanding amount.
It is the third time the auction has been cancelled during the past three years.
The auction was set to be held on November 22 with $2 million plus hopes, based on previous price guides.
The Bobolas family’s notorious rubbish-ridden Californian bungalow last sold to Mary Bobolas in 1973 for $15,000.
There are currently five writs on title, totalling more than $248,000 worth of council clean-up charges and legal fees.
Ric Serrao, of Raine &amp; Horne Double Bay, had been enlisted again to market the 550 square metre property.
He issued 20 contracts.
The Boonara Avenue property was offered to buyers in 2016, but the auction was cancelled at the last minute when the family produced enough funds to pay off part of their debt to council for their continual clean-ups.
When it was listed in 2015, around 63 contracts were issued, but the Bobolas family again managed to come up with the money just hours before the auction.
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Bondi hoarders home pulled from auction

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Australia continues to lead the world’s green building sector with further growth predicted over the next three years, according to a new global report.
The <a href="https://www.construction.com/toolkit/reports/world-green-building-trends-2018" target="_blank">World Green Building Trends 2018 SmartMarket Report</a>, released by Dodge Data and Analytics today, indicates support for the green building sector is growing globally, with organisations across the construction industry shifting towards more sustainable materials and practices.
It noted third-party certification systems such as the Green Building Council of Australia’s (GBCA) Green Star rating system were being used to make buildings perform more efficiently yielding both commercial and environmental gains.
“The drivers for green building in Australia are noted as market demand, client demand and improving occupant health and wellbeing.” the report states.
“Australia is also notably higher than the global average for each of these factors, demonstrating the sway they have on encouraging the green building market in this country.”
More than 2000 industry stakeholders across 86 countries, including architects, engineers, contractors, owners, consultants and investors, were surveyed for the report, including GBCA members.
It found 94% of Australian respondents are involved in green building projects, and a two-third majority (67%) report at least a moderate level of green activity, with 30% share or more of their work in the sector. Notably, 46% of respondents reported more than 60% of their projects were in the green building space, the highest of any country, and 64% expected by 2021 the majority of their work would be in green building.
GBCA Chief Executive Officer Romilly Madew said the results were a testament to the continued commitment and leadership of the Australian property sector to sustainably transform the built environment.
“Australia’s green building sector is continuing to innovate and is leading the world,” Madew said.
“The GBCA and its Green Star rating system continue to support the industry to set and maintain ambitious sustainability standards and provide guidance in the delivery of better outcomes on the ground for building owners, tenants, users and the broader community. 
“2018 has been monumental for the GBCA and just last month we certified our 2000th Green Star project.
“Understandably, commercial property continues to perform strongly in the adoption of green building in Australia driven by world-leading investor and market demand. Thirty-seven percent of Australia’s office space is now Green Star certified. 
“As green building expands we see huge growth opportunities in social infrastructure, led through government procurement, and in the residential sector.
“Investor demand to effectively manage climate risk and meet ambitious carbon reduction targets continues to be a major driver for green building. Increasingly though, there is a realisation of the wider social and economic benefits from a holistic approach to sustainability, for example improvements in health and well-being, amenity and liveability.
“The GBCA will continue to work with government and industry to ensure Australia continues to realise the benefits of its global leadership as evidenced in this report.”
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Australia leading the way as green building booms globally

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Purplebricks Australia chief executive Ryan Dinsdale has quit the struggling estate agency after just two-and-a-half years.
The departure was reportedly by "mutual agreement," Fairfax Media advised.
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Dinsdale (below) said he was "incredibly proud" of leading the Purplebricks brand over the past two-and-a-half years.
"The business has successfully disrupted the real estate industry in Australia, with over 4000 homes sold and saving sellers more than $45 million in traditional fees," he said.
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<div class="cq-article-content-media section">"I felt the time was right to pursue another venture," he said.</div>
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Earlier this year Purplebricks appointed of Neil Tavender to the role of chief operating officer in its struggling Australian outpost.
It is understood Tavender will replace him as CEO.
Purplebricks have advised agents Dinsdale "will leave the business to pursue new opportunities" but would support a period of transition until next March at the latest.
Other recent departs include chief financial officer Brad Rom who quit earlier this month to join the community healthcare group, Mable. The departures comes after leaked documents showed that <a href="/news/low-commission-model-under-scrutiny-as-purplebricks-defectors-leak-internal-sales-documents">NSW agents were departing after struggling to get vendors to sign up</a> despite the low commission policy.
The constant staff shuffle, and extraordinary media mismanagement, came as Purplebricks' struggled with dreadful headlines generated by aggrieved former staff claiming the startup was like a "sweatshop."
The non-traditional estate agency market is virtually non-existent in Australia, but Ryan Dinsdale said: “We would look to replicate our UK market share success in Australia.”
Dinsdale has hoped to recruit “high quality Australian estate agents with local expertise who may feel disenfranchised or disillusioned”.
Dinsdale did not have an estate agency background, but held various marketing roles, including being marketing director for Virgin Money Australia. He joined the British hybrid agency from CommSec.
“We are changing the way Australians sell real estate, giving them the best experience through incredible service and saving them thousands of dollars along the way.
“Purplebricks has been a huge success in the UK and we believe it is exactly what the Australian public have been waiting for,” he suggested in his early days in the post.
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The vacant role of national sales manager has now been filled by Sean Green who brings 20 years industry experience, most recently with LJ Hooker in its corporate office. Prior to this, Mr Green was with Century 21 and Raine &amp; Horne.
Since October, Purplebricks Australia has hired an additional 55 new agents and expect agent numbers to grow further before the end of the year.
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Neil Tavender in as Purplebricks Australia chief executive Ryan Dinsdale departs low commisery estate agency

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<div>EXPERT OBSERVATION</div>
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<div>Housing is Australia’s single largest asset class, worth more than four times the value of Australian-listed stocks.</div>
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<div>In New Zealand, investment in houses represented around one third of all investor activity in a 12-month period.</div>
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<div>Today’s choices in investment opportunity have reduced as investors are faced with low interest rates, inflation rates, taxes and a stock market that is out of an individual’s control.</div>
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<div>Real estate is more than an asset class; it is a long-term asset wealth growth vehicle too. Real estate protects investment against inflation through the economic cycles and offers growth in response to increasing demand for property.</div>
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<div>Investment concentrations tend to be highest within the capital cities, and we are all very aware of Sydney, Melbourne and Auckland and the machinations in those markets.</div>
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<div>Take Sydney, Melbourne and Auckland out of the picture and look at investment potential in other major cities, mining regions, coastal markets and other markets associated with tourism and lifestyle factors.</div>
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<div>Queensland’s improving economy, housing affordability, a rise in interstate migration and increased optimism in the market are all driving the value of the state’s residential real estate sector, for example.</div>
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<div>Coastal and inland regions of all Australian states have the potential for rental return and capital gain. Cairns, Townsville, Mackay, Gladstone, Wagga Wagga, Dandenong and Mount Gambier are fair examples here.</div>
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<div>In New Zealand, the average national property price climbed 65 to 70 per cent over a decade, putting in a better performance than the share market.</div>
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Almost half the value of New Zealand homes is inside Auckland city but as that market takes a breather, look to the opportunities to in regional New Zealand: in Wellington, Christchurch, Tauranga, Invercargill and others.</div>
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<div>A massive opportunity to buy may exist in every Australian state and New Zealand region so don’t allow two or three markets to taint the scene.</div>
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<div>Even within a single city, there’ll be better investment opportunities than others.</div>
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<div> Look at the $5 million-plus market, which appears very strong in Sydney, a good example of a truly international city with a limit to its land availability.</div>
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<div>Every area that booms has to have a breather, and there will be opportunities to get back into that market.</div>
<div>
 MICHAEL DAVOREN is the Managing Director of RE/MAX Australia &amp; New Zealand
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Where there are markets there are opportunities: Michael Davoren

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A three bedroom two bathroom house in Success, WA has been listed by its mortgagee.
Located at <a href="https://www.realestate.com.au/property-house-wa-success-129901986" target="_blank">24 Prespa Loop, Success</a> the home is set for auction on December 15.
Set on 257 sqm the home features a two car garage.
The home is within walking distance of schools and transport links.
It is a short drive to the beach, featuring an open plan living/dining area and timber look flooring in the living areas.
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<div class="tell-me-more tell-me-more--expanded">The median price for a home in <a href="/developments/success-wa-6164">Success</a> is $511,500, according to CoreLogic data.</div>
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Three bedroom Success, WA house listed by mortgagee

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A three bedroom two bathroom Strathpine, Qld home has been listed by its mortgagee.
Located at <a href="https://www.realestate.com.au/property-house-qld-strathpine-129903390" target="_blank">8 Trafalgar Court, Strathpine</a>, the home is set for a December 15 auction.
Set on 701 sqm the home is minutes from both local bus stops and local shops.
Featuring a double car garage the property is fully fenced.
Last sold in 2008 the property went for $410,000.
The house was unsuccessfully marketed at $480,000 for a year from 2011 to 2012.
The median sale price in <a href="/developments/strathpine-qld-4500">Strathpine</a> is $420,000, according to CoreLogic data.
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Three bedroom Strathpine house listed by its mortgagee

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

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Joel Robinson

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

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.

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.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

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

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

Staff reporter

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