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A mortgagee property in Morphett Vale has sold at a loss for $235,000, after spending 142 days on the market.
Located at , the home has three bedrooms, one bathroom, and a brick carport.
<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/2020/7/29/MORPHETT%20VALE%203.jpg" alt="">
The total block comprises 361 square metres, and there is 120 square metres of internal house floorspace.
Built in 1973, the home previously sold in 2011 for $269,000.
<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/2020/7/29/MORPHETT%20VALE%202.jpg" alt="">
Morphett Vale's median house price is $312,250.
Rick Pittard, from Harcourts Morphett Vale, had the listing.
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j.ballantyne1990-6AQqhLzZaK

Morphett Vale mortgagee home sells for minor loss

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Savings rates continue to tumble, despite no move to the cash rate, with NAB the latest of the big four banks to cut its rates on Thursday by up to 0.10 per cent.
Australia’s fifth largest bank, ING, also dropped the maximum rate on its Savings Maximiser account today, while CBA cut the bonus rate on its GoalSaver earlier in the week for balances over $50,000.
Recent cuts:
NAB iSaver: introductory rate cut by 0.10% to 0.95% (first 4 mths). Ongoing rate unchanged at 0.05%.
NAB Reward Saver: bonus rate cut by 0.10%. Max rate is now 0.90%.
ING Savings Maximiser: max rate cut by 0.15%. Max rate is now 1.65%.
CBA GoalSaver: max rate cut by 0.05% for balances over $50K.
<img src="https://www.urban.com.au/images/2020/7/30/Savings%20RateCity.JPG" alt="">
Analysis of the RateCity.com.au database shows that 64 per cent of banks have cut at least one savings rate in the last two months, despite no move to the cash rate since March.
RateCity.com.au research director Sally Tindall said banks will continue to chip away at deposit rates to help balance their books.
“Banks are feeling the heat at the other end of the equation where there is immense pressure to put competitive home loan rates on the table,” she said.
“There’s little competition between the banks for deposits right now. As a result, banks can chip away at these rates, often without too much blowback.
“The exception here is Westpac. It’s offering 3 per cent on balances of up to $30,000 for anyone aged between 18 and 29.
“This is a remarkable offer from Westpac given the current environment. There’s daylight between this rate of 3 per cent and what’s on offer from its big four competitors,” she said.
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Savings rates keep falling with NAB & ING the latest to cut

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There are 1,206 capital city auctions being tracked by CoreLogic this week, down from 1,326 auctions last week, but higher than this time last year when 1,108 homes were taken to auction.
In Melbourne, 357 auctions are scheduled across the city this week, lower than the 540 auctions scheduled last week, which saw 217 withdrawn from the market according to final figures; a trend that is likely to continue throughout the lockdown period.
There are 611 Sydney homes scheduled for auction this week, up from 594 last week, and higher than the 386 held one year ago.
Across the smaller auction markets, Brisbane is set to hold the most auctions this week (114), followed by Canberra (61), Adelaide (51) and Perth (11). While Tasmania has 1 auction scheduled.
<img src="https://www.urban.com.au/images/2020/7/30/CL%20JULY%2030.JPG" alt="">
On the back of a 60.6 per cent nationwide auction day clearance rate last week, Ray White is preparing itself for another strong weekend of auction action.
A return to online auctions in Victoria has done little to stem buyer confidence and the number of registered bidders for New South Wales properties remain near record highs.
Australasia’s biggest auction house has 183 auctions scheduled to take place this Saturday, a strong 18 per cent increase in the number of auctions scheduled at the same time last year.
One of the highlights is set to be in Waterloo where Ray White Surry Hills Sales Executive Jack McGhee is sending 110 Morehead Street (pictured in title) under the hammer onsite at 10:30am.
“This deceased estate is being offered to the market for the first time in over 50 years and has a buyer’s guide price of $850,000,” Mr McGhee said.
“We’ve had 93 visits to the property during the campaign, we have 28 contracts out, and we’re expecting 12-15 registered bidders to compete on the day."
<img src="https://f.datasrvr.com/f1/420/45463/340_Belmont_Street,_Alexandria,_NSW.JPG" width="640" data-imagetype="External">
Next up, Directors Ercan Ersan and Shaun Stoker send Alexandria’s <a href="https://ecomms.raywhite.com/collect/click.aspx?u=U2F2YWpGbUpkNHhrZVh3aTdtVlVoNUdTNGphaGtvcXNiTWQ2NzRiNkVYeVNpWXNJMWttR0NtY3FITU5rb0xtcnJ1cmYrOGhCVXpUTzlvcDVtZTE4bitqZG1MR2NIMTJvNnRreUJoanVVZ3JMY3g5eXFVeGh0K21XV09KS0Z6enNzZnlFeHYyUUlISnE0cExqdFIyTEpvcGU4RHJMOWJzb05hMm5zNGFtamRvPQ==&amp;rh=ff006618d7c20a7a367488a8aa4888e10176f876" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">340 Belmont Street</a> (above) under the hammer.
 Mr Ersan said, "the property has generated a huge amount of interest with more than 100 groups through the open homes with the home appealing primarily to young couples and families." “From those massive open home numbers we’ve issued nine contracts and we’re expecting to have four bidders registered to compete on the day.” The auction will be called onsite at 9:30am by Ray White Auctioneer James Keenan.
<img src="https://f.datasrvr.com/f1/220/91764/114_The_Avenue,_Canley_Vale,_NSW.JPG" width="640" data-imagetype="External">
The hat-trick is a second builder’s dream, this time in Canley Vale, as Ray White Cabramatta Selling Principal Julie Dang and Sales Agent Binh Huyhn take 114 The Avenue (above) to auction.
“The four-week campaign has been extremely active with more than 55 people through the open homes and even more enquiries for what is essentially land value,” Mr Huyhn said.
“We’ve sent out 18 contracts and we’re expecting 10 registered bidders on the day for a property that’s on one of the best streets in Canley Vale.
“It’s been a 50/50 split of interest between builders and people who want to knock the property down and rebuild with a granny flat on the site as they have one eye on the future,” he concluded.
The auction will take place onsite at 10:30am.
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Sydney auction market remains strong while Melbourne flounders in lockdown

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Prices fell sharply on CPI data in the June quarter for a number of reasons including rents, which were down 1.3%.
That fall is the first and greatest quarterly quarterly fall in rents on record.
Rental yields have also slipped to record lows, CommSec's Craig James took a look at the overall state of the latest CPI data.
The ABS said, “Rents recorded the first quarterly fall since the series commenced in 1972."
"Weak rental market conditions as a result of COVID-19 lockdown restrictions and rising vacancy rates saw rents fall in most capital cities in the June quarter.”
However rental searches on realestate.com.au are up 39 per cent over the June quarter. Data from those searches reveals that tenants and prospective tenants are looking more often and looking for longer.
The volume of ‘high-intent’ search activity on the site is up an incredible 75 per cent over the same period.
“The results are a clear indicator of how COVID-19 has changed the property market dynamic,” REA Group Director of Economic Research, Cameron Kusher said.
“Rental rates are coming under pressure from multiple sources. We have virtually no migration, there is new stimulus encouraging purchasing from first home buyers who otherwise may have been renters, and then there’s the fact that unemployment is rising, and younger people are most affected."
“With a moratorium on rental evictions in place until September, the next quarter is unlikely to see rental CPI fall as severely. Thereafter it is likely rental rates will fall further and will take quite some time to recover to previous highs.
“The high demand on realestate.com.au is likely due to the possibility of finding cheaper and or better rentals, as evidenced by the CPI data,” he concluded.
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Rents saw their first quarterly fall in 50 years

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A land tax discount for new build-to-rent housing projects will be introduced by the NSW government.
A new Housing Diversity State Environmental Planning Policy (SEPP) will also be introduced.
NSW Treasurer Dominic Perrottet and Planning and Public Spaces Minister Rob Stokes said the tax cut would encourage build-to-rent developments by ensuring they were subject to similar overall amounts of State tax as comparable build-to-sell developments.
"Build-to-rent is popular overseas but still in its infancy in Australia, and we want to remove barriers and allow this segment of the market to grow," Mr Perrottet said.
"Renters benefit through greater choice and because the focus is placed on them, rather than just geared towards property owners, it has an added benefit of encouraging better quality rental properties and much longer-term leases."
The discount will reportedly be equivalent to at least a 50 per cent reduction in land tax, dependent on the unimproved land value.
It will be applicable until 2040.
To be eligible for the discount, a build‑to‑rent development in metropolitan areas must be at least 50 units, with a different threshold for regional areas to be considered.
Construction must have commenced on or after 1 July 2020 and the projects must provide purpose built rental units, be managed under unified ownership, and include options for longer leases.
An exemption from foreign investor surcharges will also be provided until 2040 for Build‑to‑Rent developers, and integrity measures will be included to ensure that these discounts are not used for tax avoidance.
The new SEPP includes proposed development standards for build-to-rent housing across the state and design guidance on built form, context and character, sustainability and amenity to ensure good outcomes for surrounding communities and future residents.
Planning and Public Spaces Minister Rob Stokes said the proposed changes will simplify planning controls to support investment in diverse and affordable housing types including built-to-rent, co-living, social housing, and student housing.
"Not only do we need different types of housing – such as detached, high-rise and missing-middle types, we need different tenures of housing – such as affordable and social housing, short and long-term rentals and owner-occupiers," Mr Stokes said.
"These proposed changes will help support the State's future housing needs while contributing to NSW's economic recovery from COVID-19 by boosting residential construction and supporting jobs."
The new SEPP also includes new statewide definitions and provisions to support co-living developments and student housing, and new measures to assist the NSW Land and Housing Corporation to deliver more social housing on government owned land.
Full eligibility criteria for build-to-rent project tax cuts will be set-out in guidelines for the industry in coming weeks.
The Housing Diversity SEPP is on exhibition for feedback until 9 September 2020.
 
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Land tax discount announced by NSW government

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The Consumer Price Index (CPI) fell 1.9 per cent in the June 2020 quarter, according to the Australian Bureau of Statistics.
"This was the largest quarterly fall in the 72 year history of the CPI,” chief economist for the ABS Bruce Hockman said. 
The annual inflation rate was -0.3 per cent in the year to the June 2020 quarter.
"Since 1949, this was only the third time annual inflation has been negative. The previous times were in 1962 and 1997-98,” Hockman added.
<a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/6401.0Media%20Release1June%202020/%24File/CPI_July_2020.svg" target="_blank"><img src="https://www.urban.com.au/images/2020/7/29/CPI%20image.png" alt=""></a>
The June quarter fall was mainly the result of free child care (-95 per cent), a significant fall in the price of automotive fuel (-19.3 per cent) and a fall in pre-school and primary education (-16.2 per cent), with free pre-school being provided in NSW, Victoria and Queensland.
"Excluding these three components, the CPI would have risen 0.1 per cent in the June quarter", Hockman said.
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Consumer Price Index falls 1.9% in June: Australian Bureau of Statistics

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Nationally, rent values declined 0.3% in the month of June and 0.5% over the quarter, according to the latest findings from CoreLogic.
This was the largest quarterly fall in rents since September 2018, and the CoreLogic June 2020 quarterly rental review predicts a further downturn in the coming months.
Eliza Owen, head of CoreLogic’s research in Australia, said that the decline in rent values over the quarter came at a time when the rental market was already relatively weak.
“Annualised growth in national rent values was just 1.1% in the five years to June 2020, compared with annualised growth in the selected living cost index of 1.4% in the 5 years to March for employee households", Owen says.
"In other words, rents have generally seen softer growth than the growth in general cost of living for most households.
“Prior to the fall in rent values over the June quarter, growth in rents had seen some momentum building, with the national CoreLogic rental index recording consecutive increases between September 2019 and March 2020.
"These signs of rebounding rent values came as investor participation in the market was falling from 2017, and subsequently, the rate of new supply additions in rental properties had been falling.”
Capital city rental yields have been more profoundly and immediately impacted by the negative economic shock resulting from COVID-19.
Capital city rents fell 0.7% in the June quarter, compared with a 0.2% rise in rents across regional Australia.
<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/2020/7/29/CL%20quarterly%20change%20in%20rents.jpg" alt="">
COVID-19 has pivoted the trajectory of rental market performance, with six of the capital city dwelling markets seeing a quarterly decline in rental values.
The Hobart rent market had the largest value falls in the June quarter at 2.3%, followed by Sydney at 1.3%.
Four of the eight capital cities saw no growth or falls in rent values over the year to June.
Perth and Adelaide still saw growth in rent values over the year, at 2.2%.
The narrow differential between Sydney and Canberra rents continue, despite the COVID-19 downturn.
<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/2020/7/29/CL%20median%20rents.jpg" alt="">
Estimated median asking rents in Sydney fell 1.6% in the June quarter, against a 1.7% decline in Canberra rents.
Sydney remained the more expensive in terms of median asking rents, at $568 per week.
This was just $2 higher than the estimated median asking rent in Canberra.
Gross rental yields were 3.73% nationally in the June quarter, down 3 basis points over the March quarter and 41 basis points over the year.
In the 12 months to June, rental yields fell across seven of the eight capital city markets. Perth was the only exception, where yields increased a modest 3 basis points over the year.
In the June quarter of 2020, regional rental yields slipped 3 basis points to 4.93%.
The combined capital cities regions fell 2 basis points in the quarter to 3.44%.
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Capital cities hit hard as rental yields fall in June quarter: CoreLogic 2020 quarterly rental review

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GUEST OBSERVATION
The coronavirus pandemic has wreaked havoc on the Australian economy, and the financial effects for many are deeply personal.
Sadly, there’s no shortage of terrible advice online when it comes to personal finance. And as September 30 looms - the date by which JobKeeper, the increased JobSeeker and many negotiated rent and mortgage deferrals end - it’s important to be fully informed before you make potentially life-changing financial decisions.
As a former financial counsellor and former consumer credit educator for the Australian Securities and Investments Commission (ASIC), here’s what I think you need to know if you’re considering mortgage deferral, rent relief or bankruptcy.
Mortgage deferral
Residential mortgages are covered by <a href="https://asic.gov.au/regulatory-resources/find-a-document/regulatory-guides/rg-209-credit-licensing-responsible-lending-conduct/" target="_blank">federal legislation</a>, under which lenders can assist when borrowers can’t afford their usual repayments due to changed circumstances — such as losing hours or employment.
For example, you can ask your lender put on hold payments from June to September. It’s up to you and the creditor to establish clearly what happens to those payments. Are they pushed to the end of the contract, thereby extending the life of your loan? Or will you repay extra when you can afford repayments again?
Make sure you understand how much more it will cost you in additional interest if you extend the life of your loan by deferring these payments to the end of the contract. Depending on the details of your loan, you could be adding thousands of dollars to the amount you need to repay.
Most mortgage lenders don’t really want to repossess your house. It’s costly, time-consuming and stressful. But before asking for mortgage relief, you need to have a plan for the post-deferral period.
What happens if you still can’t make your usual repayments? Any licensed financial professional should be able to help negotiate a deferral on your mortgage or other consumer debts such as credit cards, but you should first consider seeing a free financial counsellor who is independent of any lenders. They can be contacted on 1800 007 007 or through the <a href="https://ndh.org.au/" target="_blank">National Debt Helpline</a>.
Rent relief
If you can’t pay your rent due to changed circumstances, you can ask your landlord to reduce or defer your rent. They can, of course, say no.
Unlike mortgage deferral, the implementation and process is inconsistent across states and territories. It can be difficult to navigate.
There are <a href="https://www.sbs.com.au/news/regulator-to-crack-down-on-real-estate-agents-pressuring-tenants-to-use-super" target="_blank">reports</a> of some landlords asking for comprehensive financial statements to support claims, or for their tenants to access the early release of up to <a href="https://www.ato.gov.au/individuals/super/withdrawing-and-using-your-super/Early-access-to-your-super/#Compassionategrounds" target="_blank">A$10,000 in superannuation</a> to pay the rent.
Ausralia’s corporate watchdog, the Australian Securities and Investments Commission (ASIC), has <a href="https://download.asic.gov.au/media/5546344/asic-letter-response-to-early-release-of-super-state-rei-3-april-2020.pdf" target="_blank">warned real estate agents</a> that advising tenants to take money from their superannuation may constitute giving unlicensed financial advice and/or be against people’s best interests, attracting possible fines and jail time.
If you’re talking with your landlord about rent relief, be clear on whether you’re talking about rent payments being reduced, deferred or permanently waived, and whether these payments would need to be made up by a certain date. Renters can seek help from <a href="https://ndh.org.au/" target="_blank">free financial counsellors</a> or a <a href="https://www.tenants.org.au/covid19/guide" target="_blank">tenants’ union</a>.
State and territory governments have established various schemes to help renters work out agreements with their landlord (see this <a href="https://www.commerce.wa.gov.au/consumer-protection/covid-19-residential-tenancies-mandatory-conciliation-service" target="_blank">Western Australian</a> scheme as an example).
Bankruptcy
Bankruptcy should be a last resort. Many creditors have shown they’re willing to provide short-term delays (for about 90 days, for example) if people need more time to pay a debt.
Consumer credit contracts are written on the basis that life has its ups and downs and if a debtor genuinely can’t pay, the creditor can help by reducing payments, stopping interest charges, deferring payments and/or restructuring loans.
In almost all consumer bankruptcies, there is no return to creditors so they generally don’t want debtors to go bankrupt. It’s in their interest to help debtors through a difficult period so they can return to making payments.
Of great concern to consumer advocates is that searching “bankruptcy” or “help with debts” on the internet will often generate results for companies with a vested interest in placing you in what’s called a “debt agreement”. These should be approached with caution. It basically means you pay for a company to help you declare bankruptcy - but this is unnecessary.
A debt agreement is an act of bankruptcy that directs fees to those companies and quite often places consumers in unmanageable and unsustainable long-term repayment plans.
Instead, try to find free financial counsellors, some of whom work for charities. They are professional, unbiased and expert at informing people of their options when in debt. They can be found via the government’s <a href="https://moneysmart.gov.au/managing-debt/financial-counselling" target="_blank">MoneySmart</a> site.
If you can’t pay your debts, there are many <a href="https://www.afsa.gov.au/debtrelief" target="_blank">options available</a>. The key is contacting the right person or organisation - and knowing whatever comes up first in a Google search is not necessarily the best or most impartial place to get help in a financial crisis.<img src="https://counter.theconversation.com/content/141274/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/gregory-mowle-296811" target="_blank">Gregory Mowle</a>, Lecturer in Finance, <a href="https://theconversation.com/institutions/university-of-canberra-865" target="_blank">University of Canberra</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/mortgage-deferral-rent-relief-and-bankruptcy-what-you-need-to-know-if-you-have-coronavirus-money-problems-141274" target="_blank">original article</a>.
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What do you need to know if you have coronavirus money problems?

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A mortgagee townhouse in Pacific Pines has sold for $295,000 at auction.
Located at <a href="https://www.realestate.com.au/property-townhouse-qld-pacific+pines-133538114">17/2 Sangster Crescent</a>, 'Parkview on Sangster' offers open plan living and dining with beautiful views. 
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-05-14%20at%202.38.51%20pm.png" alt="">
The three-bedroom, two-bathroom home features a private courtyard and central park area with BBQ and swimming pool. 
The home was listed by PRD’s Andrew Turner.  
The median unit price for Pacific Pines is $326,000, according to data from CoreLogic. 
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Pacific Pines mortgagee townhouse sold

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Pier, the fifth level penthouse in Brisbane's Newstead, with water front and rear has been sold for $7.35 million. 
The penthouse at <a href="https://www.realestate.com.au/sold/property-apartment-qld-newstead-133755842" target="_blank">351/1 Newstead Terrace</a> offers a floorpan of 527sqm, with northeasterly views across river to Moreton Bay.
It comprises four bedrooms, multiple living areas, entertainer terrace, balconies with city views and four car space plus ample storage. 
<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/2020/7/28/newstead%202.jpg" alt="">
The building Pier South features pools, gyms and resident's lounge. 
Brett Greensill and Andrea Crossan of McGrath Estate Agents New Farm sold the property. 
It was last sold in 2013 for $5.5 million. 
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Newstead penthouse with river views sold for $7.35 million

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.

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.

<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" />

<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.

"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.

"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.

"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."

<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" />

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.

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.

"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.

"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."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"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.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Joel Robinson

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

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

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

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

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

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

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