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<div>Moves by banks and their regulators to curb investor lending, combined with a drop in overseas buyers, has seen national capital city house prices decrease 2.9 per cent over the year to $781,787, according to the latest Domain Home Price Report.</div>
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<div>The report found unit prices have fallen by 1.4 per cent over the year to $549,163.</div>
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<div>Over the quarter, houses in Hobart and units in Adelaide have been the only market segments to buck the national downward trend.<br><br>Domain senior research analyst, Dr Nicola Powell said "it’s a development that will no doubt be welcomed by Australia’s first-home buyers - property prices across almost all capitals continue to fall.</div>
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<div>"In many markets throughout Australia, gaining entry has become a greater possibility."</div>
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<div>Key findings concerning houses were that Sydney house prices are now at late-2016 levels, while Melbourne house prices haven't fallen as far and are now at 2017 levels.</div>
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<div>Canberra house prices increased over the year but were flat over the quarter, similarly Brisbane and Adelaide were also up over the year, but down slightly over the quarter.</div>
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<div>Hobart was the standout and continued to grow strongly, recording double-digit annual growth.</div>
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<div>Key findings concerning units were that units in Sydney and Melbourne continued to outperform houses, while in all other capital cities houses outperformed units.</div>
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<div>Unit prices fell over the September quarter and year across all capital cities, apart from a minor quarterly improvement in Adelaide, and annual growth in Melbourne and Hobart. As a result all capital cities are now under performing relative to last year, except for Perth and Darwin.</div>
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<div>National unit prices have continued to weaken, with annual growth declining for two consecutive quarters.</div>
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<div>“There are opportunities for buyers in all property cycles — the key is to be ready when opportunities arise,” Dr Nicola Powell concluded.</div>
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j.ballantyne1990-6AQqhLzZaK

Sydney house prices down 6.5 percent, double Melbourne's drop: Domain

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<p class="property-info-address"><span class="property-info-address__street">A three bedroom Clarkson home in Western Australia has been sold by mortgagees for $280,000.<br></span></p>
<p class="property-info-address"><span class="property-info-address__street">Located at </span><a href="https://www.realestate.com.au/sold/property-house-wa-clarkson-129182346" target="_blank"><span class="property-info-address__street">12 Pitchford Glade,</span> </a><span class="property-info-address__suburb"><a href="https://www.realestate.com.au/sold/property-house-wa-clarkson-129182346" target="_blank">Clarkson</a> the home is moments from Ocean Keys Shopping Centre, medical centre, Clarkson Train Station and various schools.</span></p>
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<p><span class="property-info__property-type">The three bedroom one bathroom house has two garage spaces.</span></p>
<p><span class="property-info__property-type">Set on 722 sqm the property features air ducting throughout and a fully fenced backyard.</span></p>
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<span class="tell-me-more__text"><span class="tell-me-more__text"><span class="property-description__content">The home last sold in 2003 for $165,000.</span></span></span><span class="tell-me-more__text"><span class="property-description__content"><br><br></span></span>
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<div class="tell-me-more tell-me-more--expanded"><span class="tell-me-more__text"><span class="tell-me-more__text"><span class="property-description__content">The median home price in Clarkson is $375,000.<br></span></span></span></div>
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Three bedroom Clarkson home sold by mortgagees

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<p>A South Australian beachside house has been sold by mortgagees for $297,000. </p>
<p>It was sold by Brenton Brind and Ian Macaskill from LJ Hooker. </p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-house-sa-north+beach-127777946">4 Meander Way, North Beach</a>, the brick veneer home comprises of four bedrooms, formal dining room, open plan kitchen/living/dining and double garage.</p>
<p>Other features include ducted reverse cycle air-conditioning, separate shower and vanity, and laundry with benchtop. </p>
<p>The home last sold in October of 2017 for $399,500.</p>
<p>The median price for a home in North Beach, SA is $314,750.</p>
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Four bedroom North Beach home sold by mortgagees

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<p><span>Brisbane has seen 894 houses and 99 units taken to auction so far this spring, according to CoreLogic. </span></p>
<p><span>CoreLogic found Brisbane was returning a clearance rate over the period of 40.8% and 34.1% respectively, which is lower than over the same period last year.</span></p>
<p><span>Last year 1,055 houses across Brisbane went under the hammer and 46.2% cleared, and 43.3% of the 121 units that went to auction sold.</span></p>
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Brisbane saw a lower clearance rate than last year: CoreLogic

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<p>Investment in residential alternatives of all types is rising, global residential investment volumes exceeding all retail or industrial investment in the past year, according to new research from Savills. </p>
<p>The latest Global Living report reveals that student housing investment volumes have risen 87 per cent in the past five years, with the provision of Purpose-Built Student Accommodation (PBSA) highest in the UK and lowest in southern Europe.</p>
<p>Savills Australia’s director for Student Accommodation, Conal Newland, said that the supply of new PBSA in Australia was growing in many of the major cities, underpinned by a lack of existing accommodation and strong student population growth.</p>
<p>“As the 20- to 39-year-old age bracket becomes more prevalent in the rental market, the increasing influence of Gen Y’s demand for higher-quality rental accommodation is creating opportunities for developers to provide hybrid co-living developments,” he said.</p>
<p> <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/25/student%20accomodation%20.jpg" alt=""></p>
<p>“The recently completed UKO Stanmore is an example of a communal accommodation option available in Sydney, which has been delivered under the new generation boarding house planning designation.”</p>
<p>UKO is Australia’s first co-living residential series emulating similar concepts in Europe, the UK and the US, with its Stanmore offering comprising 33 units. Developments in Newton and Paddington are set to follow.</p>
<p>In Melbourne, there is Urban Coup, which comprises 30 households ranging from first-home buyers to young families.</p>
<p>Mr Newland went on to say he expected “a steady increase” in PBSA transactions in the short term, which he believed would be the catalyst for a surge of investment into other residential-based asset classes.</p>
<p>“Increasing transaction volumes will, in our opinion, drive down PBSA yields in Australia, which currently sit much higher than other more mature markets, such as the UK and many European countries,” he said.</p>
<p>The report outlines the growing popularity of co-living across the globe, which is a more luxurious form of share-housing and extends the convenience and amenity of PBSA to non-student markets. Targeted at graduates and young professionals, as well as students, co-living accommodation offers fully furnished units, extensive amenities, community events, all-inclusive bills and pro-active management.</p>
<p>“Given the increasing global capital flows attracted to a growing range of residential investment opportunities, Australian lawmakers should be mindful of passing legislation that may reduce the attractiveness of investments, or this country may run the risk of becoming less attractive to millennials and Gen Zs looking to study, live and work here,” Mr Newland concluded.</p>
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Student accommodation and co-living drive residential investment in Australia

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<p><span>Across Australia’s largest auction market of Melbourne the </span><span>performance across the individual property types is quite interesting, according to the latest CoreLogic Property Pulse.<br></span></p>
<p><span>Clearances rates have been tracking higher for houses compared to units for most of 2017, while this year has seen results in contrast of this with units the better performer</span></p>
<p><span>It suggests there were 4,588 houses taken to auction over the past 8 weeks with just over half selling (50.5%), while units show a higher 58.7% success rate across 2,230 auctions so far this spring. </span></p>
<p><span>Over the corresponding period last year, a significantly higher 72.4% of Melbourne houses sold at auction and units saw a clearance rate of 69.3%, which happened to be over the period just prior to the peak in Melbourne dwelling values.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2018/10/25/melbourne%20auction%20.jpg" target="_blank">Click here</a> to enlarge:</p>
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Melbourne apartments selling at auction better than houses: CoreLogic

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<p><span>EXPERT OBSERVATION</span></p>
<p><span>China’s response to growing trade tensions with the United States has been multi- faceted. China’s central government has proposed loosening policy restrictions on infrastructure investment – developments that are typically managed and funded at the local government level. </span></p>
<p><span>The latter could be problematic, as China’s local government debt could be much larger than widely thought – an echo of earlier fears from early 2014.</span></p>
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<p><strong>COMPLEXITY OF LOCAL GOVERNMENT DEBT MAKES IT HARD TO ASSESS</strong></p>
<p><span>China’s local government debt levels are at best opaque. According to official data, the total debt of local governments – which comprise a broad range of authorities at provincial, city, county and village/town level – was RMB 18.3 trillion in September 2018, equivalent to around 21% of GDP. </span></p>
<p><span>However, it is likely that this figure does not present the full picture of their debts – which are larger, more complex and risky.</span></p>
<p><strong>CHINA’S BUDGET IMBALANCE</strong></p>
<p><span>Local governments struggle to fund their spending.</span></p>
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<p><span>Following the 1994 Budget Law, which shifted much of the revenue generation from local governments to Beijing, local governments were forced to generate alternative sources of funding to meet their expenditure requirements. The local government share of fiscal revenue fell from 78% in 1993 to 44% in 1994. Prohibited by this law from issuing bonds or borrowing directly from financial institutions, they established local government financing vehicles </span>(LGFVs) – which secured debt from banks, shadow banks and other sources.</p>
<p>The scale of this debt expanded rapidly in the post-GFC period, as China’s infrastructure program spared the country from the worst of the crisis.</p>
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<p><span>At the end of 2013, China’s National Audit Office released a detailed review of local government debt – highlighting the broader scale of these liabilities. In addition to the debts that local governments had direct obligations to repay (around RMB 10.9 trillion in mid-2013) – which matched the official debt statistics above – these authorities also had hidden debts (including those debts they guaranteed for LGFVs or public-private partnerships) – which totalled an additional RMB 7.0 trillion. However, this broader estimate of local government debt has not been updated since late 2014.</span></p>
<p><span>Fears around this debt largely dissipated since this period, in part because Beijing permitted provincial, municipal and some city governments the authority to issue bonds from mid-2014 (subject to annual caps). Ministry of Finance data suggests that bonds accounted for almost 90% of the reported total debt at the end of 2017. </span></p>
<p><span>However, the bulk of bond purchasers have been banks – at the behest of the central government and regulators – with the returns on these bonds usually unattractive to other investors. Overall, the lower level of concern appears due to hidden debt being overlooked, rather than it being effectively addressed.</span></p>
<p><span>In late March 2018, the Chinese Academy of Social Sciences estimated that the total off-balance sheet liabilities of LGFVs was in the order of RMB 30 trillion, while a further RMB 10 trillion could be hidden within so-called public-private partnerships (where the “private” partner has often been a state-owned enterprise). </span></p>
<p><span>A recent report by Standard and Poor’s </span>produced a similar range for off-balance sheet debts. These estimates are relatively uncertain, since the sheer number and complexity of LGFV arrangements makes them difficult to track.</p>
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<p><strong>OFF-BALANCE SHEET DEBT</strong></p>
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<p><span>Growth largely overlooked since 2014</span></p>
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<p><span>Combining these estimates of off-balance sheet debts to the officially reported sums suggests that China’s local government debt could be in the range of 55% to 66% of GDP in September 2018. With another 16% of GDP in central government debt, this suggests that China’s total government debt is well above the 60% benchmark that is seen as a prudent limit in advanced economies. It is also above the IMF’s estimate of China’s total government debt – which was around 47% of GDP in 2017.</span></p>
<p><strong>DEBT RISKS RISING IN CURRENT CLIMATE</strong></p>
<p><span>A critical problem related to China’s local government debt is the capacity of these authorities to service these liabilities. The total fiscal revenue of local governments was just RMB 9.1 trillion in 2017 (less than one-fifth of the lower bound estimate of total debt).</span></p>
<p><span> With limited ability to collect tax revenue (following the 1994 law change), many local governments have relied on land sales as a key source of income – averaging around 32% of the total in 2017 (behind central government transfers) – albeit the share differs widely across the country.</span></p>
<p><span>Land sales are not considered a sustainable long term of revenue, and a fall in sales could result in local governments defaulting on their debts or failing to support distressed LGFVs. This could flow into greater instability in China’s financial sector, particularly if central authorities follow through on public statements and do not provide a bail out.</span></p>
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<p><strong>LOCAL GOVERNMENT REVENUE (2017)</strong></p>
<p><span>Land sales contribute too much to funding</span></p>
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<p><span>Similarly, increasing infrastructure investment in the short term could mean a large expansion in local government debt, leading to higher interest payments even if revenue levels can be maintained. The mismatch between the short term maturity of many sources of local government debt – such as bank loans and shadow banking products – and longer term return on infrastructure investment leads to greater risk.</span></p>
<p><strong>CONCLUSIONS</strong></p>
<p><span>The greater scale of local government debt than is widely acknowledged in official figures highlights the risks associated with infrastructure led stimulus to China’s economy. It also highlights the need to continue reforms to the broader economy – where progress has been disappointing. A key reform that would boost the sustainability of local government revenues would be the implementation of property taxes – proposed for over a decade, but repeatedly delayed. A nationwide tax had been scheduled for introduction in 2019, however this proposal has been delayed with an uncertain start date.</span></p>
<p><em>GERARD BURG is senior economist - Asia Group Economics at National Australia Bank.</em></p>
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Chinese local government debt fears are returning: NAB's Gerard Burg

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<p>ASIC will cancel the Australian financial services (AFS) licence of Austplan Pty Ltd (Austplan) effective from 25 November 2018 by agreement with the licensee. </p>
<p>ASIC was concerned about Austplan’s ability to do all things necessary to ensure the advice provided by its representatives was compliant.</p>
<p>Its surveillance found deficiencies in the financial services provided by a number of Austplan representatives, including their failure to act in the best interest of their clients in relation to establishing self-managed superannuation funds (SMSF). </p>
<p>Austplan also received client referrals from GM Homes (Australia) Pty Ltd, a building and mortgage business, which is not licensed to provide financial advice or any other financial service.  </p>
<p>As part of the cancellation Austplan is required to comply with conditions such as maintaining its current Professional Indemnity insurance policy until the cancellation takes effect (25 November 2018) and its membership of Australian Financial Complaints Authority (AFCA) until all consumer complaints have been resolved.</p>
<p>Austplan will also have to submit the required financial statements with ASIC and retain all materials relating to personal advice provided by its representatives.</p>
<p>ASIC is continuing to make enquiries in relation to the advice provided.</p>
<p>ASIC’s Deputy Chair Peter Kell said AFS licensees have an obligation to ensure that their representatives are adequately trained and competent to provide financial services that are in their clients’ best interest. </p>
<p>"ASIC will take action where we see licensees not properly supervising their representatives," he said.</p>
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ASIC to terminate Austplan’s AFS licence

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<p>Nottingham Station, one of Australia's largest sawn hardwood timber stockpiles in Wee Jasper, NSW, has been listed for expression of interest. </p>
<p>It has been offered by Jim Guilfoyle and Tim Corcoran from CBRE.</p>
<p>Located at <span>1456 NoTtingham Road, Wee Jasper, t</span>he 5,500 <span>sqm of predominantly Mountain Gum lumber is ideal for <span>furniture, flooring, architraves and numerous other internal and external uses.</span></span></p>
<p><span><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/21/wee%20jasper%203.jpg" alt=""></span></span></p>
<p><span><span>There are <span>2,863 ha of grazing land, located in a high rainfall district underpinning a sustainable carrying capacity of 3,000 DSE.</span></span></span></p>
<p>The water sources include <span>several permanent springs, nine dams and three semi-permanent creeks.</span></p>
<p><span>Other features include total 19 lots with subdivision potential via four 40 ha lots, cattle yards, machinery shed as well as an abandoned homestead with power and phone connected. <br></span></p>
<p><span><span>Land and lumber are being offered in one line or as separate assets on a contingent basis.</span></span></p>
<p><span><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/9/21/wee%20jasper%202.jpg" alt=""></span></span></p>
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Nottingham station in Wee Jasper for sale 

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<p>The combined national capital cities returned a final auction clearance rate of just 46 percent over the last week.</p>
<p>It was weighed down by a particularly weak performance from Sydney of 44 percent.</p>
<p>The initial clearance rate advisory from CoreLogic last weekend was 52 percent.</p>
<p>It marked the fourth consecutive week where the combined capital city auction clearance rate fell below 50 per cent.</p>
<p>In Sydney, the final auction clearance rate fell slightly to 44.6 per cent last week, down from 45.1 per cent the previous week.</p>
<p><img src="https://www.urban.com.au/images/2018/10/25/CL%2021%20OCT%20Clearanct%20Rates%202.JPG" alt=""></p>
<p>There were 675 Sydney auctions held last week, increasing from the 647 the previous week, however lower than the 823 last year when a higher 61.3 per cent sold.</p>
<p>Geelong was the best performing non-capital city region last week, with 48.2 per cent of the 34 auctions successful. However, the Hunter region was host to the highest number of auctions (59).</p>
<p>There were 2,139 total homes taken to auction, having increased on the 1,851 auctions held over the week prior when a higher 47 per cent cleared. This week last year, 2,519 homes were taken to auction across the combined capitals returning a final auction clearance rate of 64.7 per cent.</p>
<p><img src="https://www.urban.com.au/images/2018/10/25/CL%2021%20OCT%20Clearanct%20Rates%201.JPG" alt=""></p>
<p>The region with the lowest clearance rate was also in Sydney, it was Sutherland.</p>
<p>Sutherland had a clearance rate of just 29.2 percent on 24 homes.</p>
<p>Indicative of Sutherland's low clearance rate is <a href="https://www.realestate.com.au/property-house-nsw-gymea+bay-129415314" target="_blank">222 Ellesmere Road, Gymea Bay </a> (pictured above).</p>
<p>With an asking price of $1,250,000 the three bedroom one bathroom home was passed in.</p>
<p>The home is set on 556 sqm and features a one car garage.</p>
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Sydney at 44% in updated weekend auction clearance rates

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p>Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=150499 project_image_fid=370898]</p>

<p>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.</p>

<p>Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;</p>

<p>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.</p>

<p>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.</p>

<p>"It's a place to choose your pace and live gracefully, seaside'," Sander says.</p>

<p>[smartcode_project:default project_id=150499 project_image_fid=370900]</p>

<p>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;</p>

<p>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.</p>

<p>"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;</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=150499 project_image_fid=370897]</p>

<p>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;</p>

<p>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.</p>

<p>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;</p>

<p>"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;</p>

<p>Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.</p>

<p>[smartcode_project:default project_id=150499 project_image_fid=370899]</p>

<p>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.</p>

<p>Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.</p>

<p>[smartcode_project_cta:default project_id=150499]</p>


Joel Robinson

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

<p>Investors may soon find themselves with fewer reasons to buy established property and more incentives to look towards the new apartment market.</p>

<p>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.</p>

<p>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.</p>

<p>The challenge for investors is that suitable product is becoming harder to find.</p>

<p>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.</p>

<p>Today, the development pipeline looks very different.</p>

<p>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.</p>

<p>That shift has created a shortage of investor-friendly stock, particularly in well-located projects close to transport, employment hubs and lifestyle amenity.</p>

<p>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.</p>

<p>We've rounded up four new apartment developments where investors can still secure a foothold in the market for around $1 million or less.</p>

<h2 data-end="1140" data-start="844">Flourish Soleira</h2>

<h2>Priced from: $1.07 million</h2>

<p data-end="1140" data-start="844">Popular Palm Beach developer Sherpa is soon to officially launch its newest local apartment development, Flourish Soleira.</p>

<p data-end="1140" data-start="844">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.</p>

<p data-end="1140" data-start="844">&nbsp;</p>

<p data-end="1140" data-start="844">[smartcode_project:default project_id=150017 project_image_fid=370964]</p>

<p data-end="1140" data-start="844">Flourish Soliera will comprise 153 apartments across two buildings, connected by a skybridge, the first ever delivered in the suburb.</p>

<p data-end="1140" data-start="844">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.</p>

<h2><strong>Corallo, Palm Beach</strong></h2>

<p><strong>Priced from: $841,500</strong></p>

<p>Nearby Flourish Soleira is Changfa Group's beachfront-inspired Corallo development. They still have some one-bedroom apartments remaining, priced from $841,500.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=112194 project_image_fid=808]</p>

<p>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.</p>

<h2><strong>Corner House, Stones Corner</strong></h2>

<h2><b>Priced from: $880,000</b></h2>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=149098 project_image_fid=330594]</p>

<p>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.</p>

<p>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.</p>

<p><strong>Parkdrive Apartments, Chermside</strong></p>

<p><strong>Priced from: $749,000</strong></p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=152125 project_image_fid=363782]</p>

<p>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.</p>

<p>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.</p>


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

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=150454 project_image_fid=364156]</p>

<p>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.</p>

<p>“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.</p>

<p>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.</p>

<p>The absence of holiday letting within the building has also resonated strongly with purchasers.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=150454 project_image_fid=366491]</p>

<p>The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.</p>

<p>“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=150454 project_image_fid=366486]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=150454]</p>


Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=139552 project_image_fid=371009]</p>

<p>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.</p>

<p>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.</p>

<p>Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.</p>

<p>[smartcode_project:default project_id=139552 project_image_fid=371016]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=139552 project_image_fid=371017]</p>

<p>Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=139552 project_image_fid=371025]</p>

<p>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.</p>

<p>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.</p>

<p><sup>*Conditions apply in relation to the deposit match offer.</sup></p>

<p>[smartcode_project_cta:default project_id=139552]</p>


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

<p data-end="181" data-start="0">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.</p>

<p data-end="484" data-start="183">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.</p>

<p data-end="657" data-start="486">Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.</p>

<p data-end="806" data-start="659">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.</p>

<p data-end="871" data-start="808">“We know the buyer profile exceptionally well,” Abolakian says.</p>

<p data-end="1097" data-start="873">“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.”</p>

<p data-end="1169" data-start="1099">That buyer has historically been overwhelmingly owner-occupier driven.</p>

<p data-end="1434" data-start="1171">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.</p>

<p data-end="1533" data-start="1436">“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.</p>

<p data-end="1665" data-start="1535">“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”</p>

<p data-end="1721" data-start="1667">That philosophy extends well beyond apartment layouts.</p>

<p data-end="1966" data-start="1723">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.</p>

<p data-end="2051" data-start="1968">“There was probably a period where having an approved project in market was enough,” he says.</p>

<p data-end="2154" data-start="2053">“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”</p>

<p data-end="2386" data-start="2156">“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.”</p>

<p data-end="2386" data-start="2156">[smartcode_project:default project_id=110379 project_image_fid=311393]</p>

<p data-end="2549" data-start="2388">The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.</p>

<p data-end="2678" data-start="2551">For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.</p>

<p data-end="2757" data-start="2680">“People buying now often aren’t moving in for several years,” Abolakian says.</p>

<p data-end="2949" data-start="2759">“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.”</p>

<p data-end="3219" data-start="3163">That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.</p>

<p data-end="3219" data-start="3163">[smartcode_project:default project_id=149594 project_image_fid=362634]</p>

<p data-end="3454" data-start="3221">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.</p>

<p data-end="3546" data-start="3456">“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.”</p>

<p data-end="3919" data-start="3669">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.</p>

<p data-end="4005" data-start="3921">“It’s about creating something that feels special without being excessive,” he says.</p>

<p data-end="4112" data-start="4007">“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”</p>

<p data-end="4112" data-start="4007"><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" /></p>

<p data-end="4243" data-start="4114">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.</p>

<p data-end="5230" data-start="5149">“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.</p>

<p data-end="5392" data-start="5232">“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.”</p>

<p data-end="5674" data-start="5394">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.</p>

<p data-end="5723" data-start="5676">“There are definitely people waiting,” he says.</p>

<p data-end="5902" data-start="5725">“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.”</p>

<p style="text-align:start">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.</p>

<p style="text-align:start">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.</p>


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