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20 person COVID-19 cap on attending Spring Sydney home auctions 

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<p>Sylvia Myers, wife of high net wealth adviser Lawrence Myers, has bought at Cottage Point.</p>
<p>The five-bedroom weekender on deep water frontage sold for $4.25 million.</p>
<p>It comes with a private jetty.</p>
<p>It last sold at $1.35 million in 2002.</p>
<p>Domain reported it was sold by a<span>rtist </span><span>Tracy Greenstone.</span><span><br></span></p>
<p><span>It is one of 52 homes in the neighbourhood.</span></p>
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$4.25 million Cottage Point sale

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<p>The NSW Government has announced building industry reform, introducing protection for consumers during the building certification process.</p>
<p>Minister for Better Regulation Kevin Anderson said the <em>Building and Development Certifiers Act 2018</em>, effective on 1 July, will tighten the NSW Government’s regulation of building certifiers, restoring consumer confidence in the industry.</p>
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<p>“We have now strengthened the regulation of building certifiers, improving their accountability and independence and providing greater protections for consumers,” Mr Anderson said.<br><br>Certifiers will be required to attain a higher level of ongoing education in order to achieve registration, ensuring that only those with the requisite competence, skills and knowledge are authorised to carry out certification work.</p>
<p>The Act also outlines minimum limits for insurance that certifiers are required to hold.<br><br>“Many building owners might not have known that they have the right to choose a building certifier, so we’ve embedded this protection in building and certification contracts to make it crystal clear.”<br><br>Strengthened contract requirements for certification work will ensure that there is no conflict of interest between the certifier and the builder.<br><br>The Government has also moved to strengthen compliance and oversight of certifiers in four key areas. This includes:</p>
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<li>increased auditing;</li>
<li>increased penalties for corruption and negligence;</li>
<li>a certifier code of conduct with restrictions on a certifier’s ability to practice in the event of a breach in the previous 12 months; and</li>
<li>the provision of more information to homeowners, ensuring they have the transparency they need on a certifier’s compliance history.</li>
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<p>These reforms are accompanied by the Government’s historic building reform package, the <em>Residential Apartment Buildings (Compliance and Enforcement Powers) Act 2020</em> and <em>Design and Building Practitioners Act 2020</em>, which passed in early June.</p>
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NSW home building certification reform for greater consumer protection

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<p>The NSW Government has established an expert panel of building and construction specialists to help support the removal of unsafe cladding across the state.</p>
<p>Minister for Better Regulation and Innovation, Kevin Anderson, said the Cladding Product Safety Panel has been tasked with assisting the NSW Building Commissioner, building owners, councils and other regulators by identifying, and where necessary testing, the safest ways to remove and replace high-risk cladding.</p>
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<p>“The Panel will provide expert advice on how to undertake rectification work where unsafe cladding has been identified,” Mr Anderson said.<br><br>“It will also, for the first time, provide consistent and clear advice on what products can safely be used when replacing combustible cladding.<br><br>“We know it can be confusing for owners and insurers who are sourcing products to replacing unsafe cladding. The panel will provide details of which products and installation systems can be used safely and comply with the Building Code of Australia, relevant Australian Standards and insurance requirements.”<br><br>The eight-member panel will be chaired by Professor Mark Hoffman, who led the investigation into building failures at Mascot and Opal towers. It consists of members with expertise in building and construction, product testing, building surveying, certification and fire safety engineering.<br><br>NSW Building Commissioner, David Chandler OAM, said the Panel will be available to advise councils and industry when they are scoping rectification work on the suitability of building products being proposed to replace unsafe cladding.<br><br>“The panel will help building owners and occupants to be more confident that remediation and certification work will be compliant and safe,” Mr Chandler said.<br><br>“We also need to ensure that work will be accepted by insurers without conditionality. The Panel will work closely with the insurance industry to make sure this occurs.</p>
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New government panel for cladding removal oversite for NSW apartments 

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<p>The NSW Government is revamping how it regulates shared accommodation to improve the rights and responsibilities of occupants, Minister for Better Regulation, Kevin Anderson, announced today.</p>
<p>Mr Anderson said the new package of reforms will increase protections for some of the state’s most vulnerable residents and implement recommendations made in the Boarding Houses Act 2012 Statutory Review Report, including rewriting the Act to become the Shared Accommodation Act.</p>
<p>“The Boarding Houses Act was a landmark piece of legislation when introduced in 2012. Our reforms will build on it to ensure the protections introduced for boarding house are improved and expanded to apply to the wider range of people who now live in shared accommodation,” Mr Anderson said.</p>
<p>“Whether it’s a student or someone getting back on their feet, thousands of people stay and live in shared accommodation each week, and it’s time the legislation caught up to reflect the reality of 2020.</p>
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<p>“The changes will ensure stronger protections are in place for occupants in shared accommodation such as prescribing standard form agreements, minimum notice periods and requiring a property to be ‘fit for habitation’.”<br><br>The new legislation will cover all shared arrangements where someone rents a space as their principal place of residence and shares a kitchen, bathroom or bedroom with others. This is likely to include arrangements where people live in boarding houses as well as some co-living premises, student accommodation and private lodging arrangements.<br><br>Minister for Families, Communities and Disability Services Gareth Ward said the review also provided an opportunity to better support people with disability living in boarding houses.<br><br>“Consultation with people with disability, providers and advocates highlighted the need to ensure supports delivered in assisted boarding houses are consistent with those offered under the National Disability Insurance Scheme,” Mr Ward said.<br><br>“We will continue to work closely with residents, proprietors and the sector to enable people to with disability to exercise choice and control over the supports they receive.”<br><br>Drafting of the new Act has commenced, with targeted sector consultation planned for the second half of 2020. The <a class="is-external" href="https://www.parliament.nsw.gov.au/tp/files/77910/Report%20on%20the%20Statutory%20Review%20of%20the%20Boarding%20Houses%20Act%202012.pdf" target="_blank">Boarding Houses Act 2012 Statutory Review Report</a> is available.</p>
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NSW boarding house shared accommodation occupant rights under review

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<p>Amendments to the Plumbers Licensing and Plumbing Standards Regulations 2000 are being drafted in Western Australia to include new plumbing standards for subdivision plumbing work in relation to survey strata schemes.</p>
<p>The changes are outlined in Industry Bulletin 125 – New requirements for plumbing services to survey strata lot developments.</p>
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<p>The new standards for plumbing services in relation to survey strata schemes commenced operation on 15 August 2020.</p>
<p><span>Plumbing services to individual survey strata lots consist of sanitary drainage service lines and connection points, and water supply service lines and connection points. </span></p>
<p><span>The requirements apply to survey strata developments consisting of two or more survey strata lots.</span></p>
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<p><span>Prior to 2015 the Water Corporation provided guidance and direction to land developers in the form of ‘Plumbers advice kits’ for the provision of sanitary drainage service lines and connection points and </span><span>to;</span><span>water supply services to individual survey strata lots.</span></p>
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<p><span>The developer would then engage an LPC to install the services where necessary as part of the process towards obtaining titles for the lots. This generally ensured that survey strata lots were provided with suitable plumbing services prior to the lots being sold and building commencing.</span></p>
<p><span>In 2015 the Water Corporation came to a decision that it was not in their remit to enforce requirements for plumbing services to individual survey strata lots beyond providing a connection point at the main lot boundary. Since then there have been consistent issues regarding the provision of plumbing services to individual survey strata lots including:</span></p>
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<p><span>• new strata lots not being provided with services at all;</span></p>
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<p>• services to lots being inappropriately located, e.g. installed diagonally across other lots where they are susceptible to damage during site-works;</p>
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<p><span>• lots that are not serviced being ‘built out’ when a house is built on another lot that is between them and the main sewer connection point; and</span></p>
<p><span>• difficulty locating connection points due to no drainage plumbing diagram being available.</span></p>
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<p><span>Where sanitary drainage services are required a developer must engage an LPC to install a suitable sanitary drainage service line(s) and connection point(s) to each lot. </span></p>
<p><span>Where water services are required the developer must enter into an agreement with a water services provider (in most instances the Water Corporation) to either install infrastructure, or provide direct services </span><span>or </span><span>multi-metering to each lot on the survey strata scheme, or alternatively engage an LPC to install water supply services to each lot on the scheme.</span></p>
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Plumbing standards regulations being drafted for strata subdivision plumbing work

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<p>Just as COVID-19 hit, inspectors from Consumer Affairs Victoria indicated will be checking more estate agent trust accounts, more often, for discrepancies.  </p>
<p>Victorian estate agents held 5,188 trust accounts worth $2.43 billion at the end of 2019. </p>
<p>Inspectors were conducting random desktop inspections of estate agents’ trust accounts, searching for inconsistencies that may point to misuse of trust money, in addition to their usual on-site inspections.  </p>
<p>These desktop checks will significantly increase the amount of trust account inspections undertaken each year.  </p>
<p>During 2018-19, Consumer Affairs Victoria conducted 425 trust account inspections for compliance with relevant laws and processed more than 4,300 trust account audits.  </p>
<p>Increasing the number of trust account inspections will allow Consumer Affairs Victoria to act faster to identify estate agents who have broken the law.  </p>
<p>Estate agents will be required to produce documents to prove trust money is being handled appropriately, with inspections conducted on top of the yearly trust account audits. </p>
<p>There are strict laws surrounding how estate agents should keep and file money they receive.  </p>
<p>Advance funds must be deposited into an estate agent’s trust account, and records must be kept showing details of each trust money transaction.  </p>
<p>Acting Director of Consumer Affairs Victoria Michelle Osborne said failing to handle trust account money appropriately may result in the delay or failure of property purchases, causing emotional and financial stress for those involved.  </p>
<p>“Consumer Affairs Victoria takes the misuse of trust account money seriously and has zero tolerance for estate agents who do so,” said Ms Osborne.  </p>
<p>“Good agents who have done nothing wrong have nothing to fear from the new approach.”  </p>
<p>Failing to appropriately manage trust money is a significant offence, with estate agents facing fines of up to $82,000, or 10 years’ imprisonment. </p>
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Consumer Affairs Victoria increasing the number of trust account inspections

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<p>Australian home prices are being protected at present by income support measures and bank payment holidays, according to AMP Capital chief economist Shane Oliver.</p>
<p>But higher unemployment, a stop to immigration and rent holidays will push prices lower into next year.</p>
<p>"Home prices are expected to fall by around 10 percent to 15 percent from their April high," he advised this week.</p>
<p>"Melbourne is particularly at risk on this front as its Stage 4 lockdown pushes more businesses and households to the brink," he added.</p>
<p>Notwithstanding this Oliver expects the RBA to leave monetary policy on hold for the sixth month in a row.</p>
<p>"Having provided massive monetary stimulus back in March the RBA is still in “watch and wait” mode, and the policy focus remains largely on fiscal policy.</p>
<p>"Given the uncertainty around the pace of recovery and the risks flowing from Melbourne’s lockdown, the RBA is likely to reiterate its dovish forward guidance on rates and note that it stands ready to do more if needed."</p>
<p>Oliver thinks it will ease further sometime in the next six months as its own forecasts have the attainment of full employment and the sustainable achievement of the inflation target as being more than two years away.</p>
<p>"In terms what it might do if it eases further it has all but ruled out negative interest rates, foreign exchange intervention and the direct monetary financing of government spending, but sees still lower but positive interest rates and the purchase of more government bonds as possible options.</p>
<p>"A rate cut to 0.1% would hardly be worth the effort which leaves more bond buying and more cheap bank funding as the main tools for any further easing.</p>
<p>" The RBA should also move more explicitly to inflation average targeting like the Fed.</p>
<p>"This would mean tweaking its forward guidance to commit to not increasing the cash rate until full employment is reached (as opposed to when “progress is being made towards full employment”) and inflation is sustainably within the 2-3% target band (as opposed to when its “confident inflation will be sustainably” in the band)."</p>
<p>Rate hikes are three years away, he concluded.</p>
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Australian home prices to fall by up to 15 percent: Shane Oliver

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<p>Consumer Affairs Victoria has commenced criminal action against Thomas Aloysius, 47, of Hallam, for alleged breaches of the <em>Estate Agents Act 1980</em> (the Act) and its Regulations. </p>
<p>It is alleged that, while working as an estate agent’s representative between May and June 2017, Mr Aloysius: </p>
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<li>advised a vendor that he had received an offer of $600,000 to purchase the vendor’s property, when the offer made by the purchaser was $620,000, and</li>
<li>accepted a $20,000 partial deposit from the purchaser into his personal bank account, instead of the required trust account. </li>
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<p>Mr Aloysius faces six charges: </p>
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<li>Three relate to his alleged misuse of the $20,000, in breach of the Act. </li>
<li>Three relate to alleged breaches of the Estate Agents (Professional Conduct) Regulations 2008; these include that Mr Aloysius:
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<li>did not act in his principal’s best interests; and </li>
<li>engaged in conduct detrimental to the industry’s interests and reputation. </li>
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<p>The matter was brought to our attention through a consumer complaint. </p>
<p>Estate agents or agent’s representatives who misuse trust funds can face penalties including fines, or jail for more serious breaches under the Act. </p>
<p>The matter will be heard in the Dandenong Magistrates’ Court.</p>
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Consumer Affairs Victoria commences criminal action against Thomas Aloysius over alleged missing $20,000 partial deposit

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<div>Consumer Affairs Victoria has launched a disciplinary inquiry at VCAT into estate agent Tsun Ngai Lee.</div>
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<div>Mr Lee, 60, of Caroline Springs, trades under the business name Ably Realtor Worldwide Agency.  </div>
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<div>CAV allege that Mr Lee breached his duties under Victoria’s estate agent laws by:  </div>
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<li>not complying with an existing condition on his estate agent’s licence </li>
<li>not always acting fairly and honestly in his work as an estate agent, and </li>
<li>engaging in conduct detrimental to the estate agent industry’s reputation or interests. </li>
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<div>It is also alleged that Mr Lee:  </div>
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<li>did not meet his trust account audit obligations for the 2018-19 financial year, and  </li>
<li>is not a fit and proper person to hold an estate agent’s licence.  </li>
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<div>The action against Mr Lee follows an investigation as part of our estate agent compliance monitoring program.<br> </div>
<div>VCAT will hear the matter at a date to be set.  </div>
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<div>CAV have previously taken action against Mr Lee in 2019.</div>
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<p>The estate agent trading as Ably Realtor Worldwide Agency was reprimanded, and had a condition placed on his licence, after breaching his duties under the <em>Estate Agents Act 1980</em> and its regulations. </p>
<p>Tsun Ngai Lee, then 59, of Caroline Springs, agreed that, among other things, he did not: </p>
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<li>record required information in:
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<li>a register of trust cheques</li>
<li>a trust account cash receipts journal; and </li>
<li>trust ledger accounts </li>
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</li>
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<li>have his trust accounts audited within the required timeframe </li>
<li>keep money in the trust account until it was paid to the person entitled to it </li>
<li>at all times act fairly and honestly in his capacity as an estate agent.</li>
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<p>Mr Lee also agreed that he had engaged in conduct detrimental to the estate agent industry.</p>
<p>Our staff identified the breaches during inspections at Ably Realtor Worldwide Agency. </p>
<p>The matter was heard at the Victorian Civil and Administrative Tribunal.  </p>
<p>The tribunal ordered that a condition be placed on Mr Lee’s licence prohibiting him from handling trust monies or operating an estate agency trust account until he: </p>
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<li>completes two Real Estate Institute of Victoria training courses, and </li>
<li>arranges for a qualified professional to develop a compliance program, to ensure he understands and complies with his legal obligations.</li>
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Consumer Affairs Victoria launch disciplinary inquiry into estate agent Tsun Ngai Lee

<p>Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.</p>

<p>The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.</p>

<p><img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" /></p>

<p><a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.</p>

<p>"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.</p>

<p>"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.</p>

<p>"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."</p>

<p><img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" /></p>

<p>Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.</p>

<p>The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.</p>

<p>"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.</p>

<p>"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."</p>

<p>Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.</p>

<p>"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.</p>

<p>"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."</p>

<p>Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.</p>

<p>[smartcode_project_cta:default project_id=113271]</p>


Joel Robinson

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

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


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

<p>The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD</p>

<p>The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;</p>

<p>The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;</p>

<p><a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.</p>

<p>The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.</p>

<p>A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.</p>

<p>“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.</p>

<p>"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."</p>

<p>Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.</p>

<p>[smartcode_project:default project_id=134477 project_image_fid=374401]</p>

<p>Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;</p>

<p>Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.</p>

<p>Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.</p>

<p>With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.</p>

<p>It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.</p>

<p>Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.</p>

<p>"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”</p>

<p>Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.</p>

<p>[smartcode_project:default project_id=134477 project_image_fid=374402]</p>

<p>Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.</p>

<p>The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.</p>

<p>&nbsp;</p>

<p>According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.</p>

<p>"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.</p>

<p>"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.</p>

<p>“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”</p>

<p>Demolition and early construction works have commenced onsite at Castlereagh Place.</p>

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Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

<p>International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.</p>

<p>The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.</p>

<p>According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.</p>

<p>&nbsp;</p>

<p>Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=185853]</p>

<p>Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.</p>

<p>The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.</p>

<p>"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.</p>

<p>"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.</p>

<p>"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."</p>

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<p>Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.</p>

<p>McMahon said the pricing strategy was a deliberate response to the current market.</p>

<p>"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=362498]</p>

<p>Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.</p>

<p>Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.</p>

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SPG Land launches $1.5 billion Paradiso Place at attractive price point

<p>Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.</p>

<p>The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366473]</p>

<p><a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.</p>

<p>"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.</p>

<p>"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366474]</p>

<p>Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.</p>

<p>Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.</p>

<p>"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.</p>

<p>"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.</p>

<p>"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=374378]</p>

<p>According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.</p>

<p>Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.</p>

<p>"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.</p>

<p>"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.</p>

<p>"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.</p>

<p>"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366480]</p>

<p>The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.</p>

<p>A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.</p>

<p>The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.</p>

<p>"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.</p>

<p>"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."</p>

<p>The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.</p>

<p>Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.</p>

<p>Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.</p>

<p>Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.</p>

<p>&nbsp;</p>

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