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A four-bedroom, three-bathroom coastal home in Bronte sold for $5.85 million through Snowden Jones estate agents Louise Snowden and Rick Daniel on June 30, 2020.
Designed by Mary Ellen Hudson, the 53 Palmerston Avenue property is defined by its wave-like architecture.
Located at the end of a cul-de-sac with dual street access, the home is privately walled and gated with intercom entry, a security system and CCTV. 
The house showcases oak flooring, high ceilings, margarine wall finishes, spacious living and dining with Jetmaster gas fireplace, a sculptural central staircase, Artedomus Elba marble bathrooms, Antonio Lupi baths, and Aritcolo Bocci and Serge Mouille designer lighting.
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The designer kitchen with Artedomus Quartzite White Fantasy bench top has premium gas Wolf &amp; Sub Zero appliances, warming drawer and steamers, butler's pantry, custom cabinetry, and a bespoke bar with a  wine fridge. 
All four large bedrooms do not share a common wall, and the master bedroom with a retractable wall features a bespoke walk-in robe and ensuite. 
Situated on 387 sqm of land, the home also features walls of glass which open out to a north-facing courtyard and self-watering gardens, a covered terrace with built-in Wolf barbecue, an outdoor shower and 'Rock' outdoor speakers. 
According to Domain, 23 other four-bedroom houses in Bronte have recently been sold. 
A similar four-bedroom, two-bathroom home on Dickson Street sold for $3.45 million on July 2, 2020 and another four-bedroom, two-bathroom home on Tipper Avenue sold for $4.9 million on March 16, 2020, according to Realestate.com.au.  
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j.ballantyne1990-6AQqhLzZaK

Coastal designer home in Bronte sold for $5.85 million

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A seven-bedroom, six-bathroom family estate in Arcadia sold for $3.725 million through Manor Real Estate agent Antonio Jimenez. 
The <a href="https://www.realestate.com.au/sold/property-house-nsw-arcadia-133062042" target="_blank">1A Henstock Road </a>property boasts an impressive front with a tree-lined driveway complemented with manicured gardens and a lake behind the electric gate. 
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The home showcases an open plan living area with stacker doors which flows to the outdoor entertaining area with electric blinds and barbecue kitchen. 
Fitted with luxury resort-style amenities, there is an oversized salt water pool, spa, a floodlit championship size tennis and basketball court, surrounded with sandstone landscaped gardens and bush outlook. 
The master suite with a parents retreat has a custom built dressing room, ensuite, and private courtyard with a free-standing bath. 
The manor includes a theatre room, home office, guest room, a gym and two self-contained accommodations, serviced with their own kitchen and ensuite. 
The ultra-modern designer kitchen has a large stone island bench top and premium European kitchen appliances, including a complete butler's kitchen. 
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Family estate in Arcadia sold for $3.725 million

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A seven-bedroom, five-bathroom house in Riverstone sold through Laing+Simmons estate agent, Nathan Chapman for $3.65 million on July 17, 2020. 
The <a href="https://www.realestate.com.au/sold/property-house-nsw-riverstone-132980546" target="_blank">79 Brighton Street property</a> features a wide frontage, six bedrooms all with built-in or walk-in robes, master suite with walk-in robe and ensuite, and a fully equipped classical kitchen with gas cooking, stone bench and quality stainless steel appliances. 
The approximately 6600 sqm parcel of level land also features an automatic triple lock up garage, oversize workshop with bathroom, and a separate fully self-contained studio with bathroom, guest bedroom, wet bar and large open plan games room.
Laing+Simmons advertised the property's potential for redevelopment. The site has been a potential 3036 sqm childcare centre and a DA has been lodge mid-2018. 
The property was last sold for $2.8 million in 2017 and $185,000 in 1996. 
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Grand residence in Riverstone sold for $3.65 million

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A six-bedroom, three-bathroom Ocean Grove sea-side home has sold through Fletchers for $3.6 million on July 16, 2020. 
Situated on a 1,704 sqm block, the <a href="https://www.realestate.com.au/sold/property-house-vic-ocean+grove-132520978" target="_blank">148 Orton Street</a> property is tucked behind the sand dunes, some 100m from the beach. 
Built with Mount Gambier limestone, the luxury home features a swimming pool in the central courtyard.
It comes with a roofed terrace, complete with kitchen, pizza oven, lounging area with an LCD TV. 
The master bedroom showcases a ensuite with spa bath, twin vanities, large walk-in dressing room and a private courtyard garden. 
The property was last sold for $807,500 in 2007. 
A six-bedroom, four-bedroom home a few doors down was sold for $2.65 million last November. 
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Ocean Grove trophy home sold for $3.6 million

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Two houses in one 654 sqm corner block in Strathfield South has changed hands via a mortgagee sale.
Ray White estate agents Peter Tsekenis and Elia Economou held the listing.
It sold for $1.8 million on July 7, 2020. 
The <a href="https://www.realestate.com.au/sold/property-house-nsw-strathfield+south-133706610" target="_blank">2 William Street </a>site has two brick homes in a cul-de-sac with an access gate between the two, one in neat original condition, the other thoroughly renovated. 
Both offer three bedrooms, two bathrooms, open-plan living and a large entertainment deck. 
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Two mortgagee homes on one title in Strathfield South sold for $1.8 million

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Over the March quarter, Adelaide saw an increase in the portion of loss-making resales, with 10 per cent of properties seeing a nominal decline in the sale price, according to CoreLogic's Pain and Gain March Quarter 2020 report. 
This is a reversal of the trend seen in the December quarter, where loss- making sales had seen a consistent decline since September 2019.
Despite the increase in loss making sales, there were still pockets of the Greater Adelaide region where over 90.0 per cent of properties yielded a nominal gain. These include Tea Tree Gully, where 95.1 per cent of properties saw a profit, based on a typical hold period of 11.2 years. The median gain in the area was about $116,000.
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Source: CoreLogic Pain and Gain March Quarter 2020 report.
The lowest portion of profit making sales across Adelaide was in the City of Adelaide. 22.8 per cent of sales in the quarter saw a decline in the resale price, based on a median hold period of 9.0 years, and typical losses were $30,000.
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The Adelaide dwelling market faces some headwinds in terms of persistently high levels of unemployment, which has only been worsened by the onset of social distancing measures in response to COVID-19. As of May 2020, South Australia continued to see the highest rate of unemployment of the states and territories, at 7.2 per cent.
Low interest rates and strong rental yields across the Adelaide dwelling market have continued to support growth in the Adelaide property market, which was up 0.7 per cent in the June quarter, but momentum in the growth rate has been slowing over time. The incidence of profitability in resales is likely to slip further over the coming months, until the lifting of social distancing measures sees a material improvement in the labour market.
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Source: CoreLogic Pain and Gain March Quarter 2020 report.
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Adelaide saw an increase in loss-making resales: CoreLogic Pain & Gain

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A mammoth construction project in Sydney’s west is set to create 2500 local jobs during its $525 million construction, with essential workers set to benefit once the homes are built. 
Developers behind the proposed Crescent Parklands near Parramatta are promising to give ambulance and other frontline workers first dibs on at least 87 new affordable housing homes provided as part of the $525 million development. 
They are also pledging to ensure western Sydney tradies are first in line for lucrative demolition and construction contracts over the course of the proposed 10-year redevelopment of the former WesTrac industrial site in Holroyd alongside the M4.
Australian Capital Equity CEO Ryan Stokes told The Sunday Telegraph the residential and commercial project will create 2500 jobs during construction.
“At its peak the WesTrac site would have had about 450 people working here,” Mr Stokes, son of media mogul Kerry Stokes, said.
This area is going through tremendous change and a really progressive evolution. 
“The site is really close to Parramatta, Granville and Merrylands.”
Plans for the site’s high density rezoning, being considered by the Sydney Central City Planning Panel, go on public exhibition in the coming days. 
They reveal it will have 1255 apartments, with seven per cent of dwellings dedicated for affordable homes rented out for a 20 per cent discount on market rates in perpetuity.
15,000sq m of commercial and retail space, including a supermarket, other retailers, cafes and restaurants, childcare, a medical centre and 6255sq m of office space.
The project has the backing of Skills Minister and Parramatta Liberal MP Geoff Lee and Western Sydney Business Chamber executive director David Borger. 
Cumberland Council remains opposed because of traffic, density and amenity concerns. 
Mr Borger pointed toward the project’s 7714 sqm public park, which is bigger than a soccer field, with a playground and BBQ facilities as evidence of its importance to the area.
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Public space will comprise 43 per cent of the 3.79ha site.
“People are sick of high-rise projects that don’t have adequate space and this project has got more open space than any other high-rise project in Sydney at the moment,” Mr Borger, a former Parramatta mayor and state Labor government minister, said. 
“It is creating new public and private parks so you can come here with a child and they can have a place to kick the football muck around with their mates. 
“It has got all those great urban design principles that you want that we often don’t get in Sydney.”
Mr Lee said there are 50,000 jobs in the Parramatta CBD at the moment and “we are going to grow back to 100,000 over the next 10 years”. 
The majority of the site’s dwellings and retail spaces will be contained in four towers that are 28, 23, 17 and 22 storeys. 
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In response to criticisms the project would create traffic problems for nearby Woodville Rd, Mr Stokes will add an extra lane along Crescent St.
Cumberland Council has resolved not to meet with the developers and remain opposed to the project, which if approved would be the most dense part of the local government area outside of Merrylands town centre. 
“They are packing in residents like sardines into an already congested area that has a lack of infrastructure,” Cumberland Mayor Steve Christou said.
“The M4 and Woodville Rd are packed enough as it is.” 
Developers are estimated to pay at least $31.3m in local and state government infrastructure levies.
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Western Sydney construction project to create 2500 jobs 

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Over the March quarter, the portion of loss making resales across Melbourne was 6.8 per cent, according to CoreLogic's Pain and Gain March Quarter 2020 report. 
This is up from 6.3 per cent in the December quarter, and down 20 basis points from 7.0 per cent in the March 2019 quarter. The portion of loss making sales among units was higher than houses, at 15.5 per cent. The portion of loss making sales in the house segment was just 2.7 per cent.
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Source: CoreLogic Pain and Gain March Quarter 2020 report.
The highest incidence of loss making sales, as has been a trend for the past few quarters, were concentrated across the Melbourne LGA region. 33.6 per cent of resales saw a loss, and the median value of losses in the region was approximately $44,500. There were approximately 120 loss making sales observed across the Melbourne council region. All of these were units, and 68.6 per cent of these were owned by investors.
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For Melbourne and parts of Victoria, the recent rise in coronavirus cases presents ongoing risk to housing market demand. Government lockdowns have been a key determinant of economic performance since the onset of the pandemic. With dwelling value declines already being led by the Melbourne market, which saw dwelling value declines of 2.3 per cent in the June quarter, it is highly likely that there will be an increase in the portion of loss making sales in the metropolitan area over the coming months.
But despite the increase in the rate of loss making resales in Melbourne, 716 loss making sales were observed over the March quarter, compared with 904 observations over the December quarter. This reinforces a sense of stability that has been maintained in the housing market at a high level, as a result of lower transaction activity. Maintaining this stability will be dependent on the banking sector and government to extend relief of mortgage repayments, and income support, until the virus curve is once again flattened across the state.
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Source: CoreLogic Pain and Gain March Quarter 2020 report.
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6.8% of Melbourne resales made a loss: CoreLogic Pain & Gain

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Some 7.6 per cent of resales saw a nominal loss across Sydney, according to CoreLogic's Pain and Gain Report March Quarter 2020. 
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Alongside Hobart, Sydney was the only capital city to see a decline in 95 per cent the portion of loss making sales, down from 7.9 per cent in the previous quarter.  
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Source: CoreLogic Pain and Gain March Quarter 2020 report.
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Across the council regions of Sydney, the highest portion of loss making sales were across Burwood (22.4 per cent), Parramatta (15.9 per cent), and Ryde and Strathfield (13.5 per cent). The Burwood council region had a high portion of loss marking sales off a 75 per cent relatively low base. There were about 18 loss making sales observed across the region, most of them units with a relatively low hold period.
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Higher levels of profitability tended to concentrate in higher socio-economic areas of Sydney, such as North Sydney, where profit making transactions made up 98.0 per cent of resales in the quarter.
The Blue Mountains also proved to be the second most profitable region for property sales in the March quarter, with 96.9 per cent of sales seeing an increase in the nominal sale price. However, the gain in the region was relatively low, at $287,250.
Increased profitability in resales was aided by a strong uplift in dwelling values over the quarter. March saw Sydney dwelling values increase 3.9 per cent. Importantly, the decline in demand resulting from responses to the pandemic has since seen values fall - 0.8 per cent over June, which will likely manifest in more loss making sales in the coming months.
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Source: CoreLogic Pain and Gain March Quarter 2020 report.
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7.6% of Sydney resales saw a loss: CoreLogic Pain & Gain

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An increase in listings across the western Darling Downs, Maranoa and northern New South Wales regions has been observed over the past two months, according to the June Herron Todd White (HTW) residential report. 
The valuation firm looked at the influence of trade wars, pandemic outcomes and commodity prices on the rural sector, and provided an update of how rural real estate is performing across locations and industries. 
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The report notes agents are reporting that sellers are looking to capitalise on the good bodies of feed now on the ground following years of drought.
Strong re-stocker demand continues to support high cattle prices, which are underpinning grazing land values.
"The cattle market remains strong despite the country now haying-off in most areas and should the good rain forecast over the winter fail to eventuate, the body of feed currently available runs the risk of spoiling," the valuation firm said. 
In the Darling Downs region, many farming operators are holding off planting until receiving beneficial rain to provide a full moisture profile.
As supply increases, there is strong potential for a softening in market sentiment as the pool of potential buyers is absorbed, the report noted. 
The impacts of the barley tariffs and Australian meat export restrictions by the Chinese government may reduce buyer confidence, however these effects may take some time to play out.
Some recent listings in south-east and south- west Queensland include:
◗ Telco, Roma (pictured below) -939.5 hectares-to be auctioned 18 June
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◗ Dunkery, Condamine-2944 hectares-to be auctioned 11 June
◗ Spring Grove, Roma-2496 hectares-to be auctioned 2 July
◗ Wattlevale, Moonie-3138 hectares-EOI
◗ Lesdale, Charleville-14,827 hectares-EOI ◗ Murilla, Meandarra-7655 hectares-EOI
◗  Nungil, Charleville-14,524 hectares–to be auctioned 17 June
◗  Tomoo, Mungallala-18,215 hectares-private treaty after being removed from auction terms
◗  Mundibulanga, Drillham-2678 hectares-EOI
◗  New Cashmere, St George-4458 hectares-EOI
◗  Greenoaks, Mitchell-5100 hectares–auction held 22 May
◗  Yambutta, Quilpie-41,083 hectares–to be auctioned 13 July
◗  Whyenbirra, Bollon (pictured below)-14,358 hectares-to be auctioned 18 June
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◗  Terrica aggregation, Texas-15,990 hectares-EOI
◗  Kilto, Wandoan-4042 hectares-EOI
Recent sales include:
◗  Cooraki, Surat-2128 hectares-sold $3.85 million ($1809 per hectare)
◗  Glen Lindon, Injune (pictured below)-2627 hectares-sold $3.4 million ($1294 per hectare)
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◗  Oban, Jimbour Plains-377 hectares-sold at auction $4.705 million ($12,599 per hectare)
In summary, the market may be approaching a tipping point where the strong increase in listings may see values stabilise following a period of strong growth, the report noted. 
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Darling Downs rural market approaching the tipping point: HTW rural 

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.

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<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."

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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.

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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.

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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.

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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."

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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."

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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."

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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.

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