Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

&nbsp;

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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Investment bank Morgan Stanley will pay US$1.1 billion (A$1.05 billion) to purchase the largest shopping centre in St Petersburg.
<img src="/images/stories/galleria.jpg">
The bank’s Morgan Stanley Real Estate Fund VII will purchase the Galleria Mall from Meridian Capital CIS Fund, a private investment fund backed by a group of Kazakh investors.
The transaction is due to be completed later this month.
<img src="/images/stories/galleria2.jpg">
Galleria cost US$380 million to build. It opened in November 2010 and has 250 stores occupying 93,000 square metres over five floors.
<img src="/images/stories/galleria3.jpg">
It includes a multi-screen movie theatre, a 27-lane bowling alley plus underground parking for 1,200 vehicles.
By comparison, Australia’s biggest shopping centre is the Chadstone Mall in south-east Melbourne, which is owned by Colonial First State. It has 126,000 square metres of gross lettable area and is valued at $1.53 billion.
 
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lschlesinger-FZcF9M3vE6

Morgan Stanley pays $1.05 billion for Russian shopping centre

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Australia's population increased by 1.4% – or 320,800 people – to 22.6 million people, for the year to June 2011.
Net overseas migration accounted for 53% of the growth, with the remaining 47% due to natural increase – births minus deaths.
But the preliminary net overseas migration estimate of 170,300 people was 9% lower than the 198,000 estimate for the year ended June 30, 2010.
The ABS says the recent decline in migration was due to both a decrease in arrivals and an increase in departures.
Migration arrivals decreased by 5% (22,900 persons) between the years ended June 30, 2010 (446,800 persons) and June 30 2011 (423,900 persons).
This reflected a continuing decline in arrivals since the peak of 536,000 people recorded for the year ended December 31, 2008.
Migration departures increased by 2% (5,200 persons) between the years ended June 30, 2010 (248,400 persons) and June 30, 2011 (253,600 persons).
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jchancellor-FAypfDUnLy

Australia's population up 1.4% in 2010-11 as migration slows

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Not all business is good business – and not all property managers are the same.
For years now we have seen the decrease in management fees for property managers. When i first started in the industry, the market hadn’t been de-regulated and the fee structure was set, there was no negotiation. Deregulation gave people the opportunity to increase fees, provide additional services and be the professionals that they are – but somehow, everything has gone the other way.
The average management fee in Victoria has decreased, and clients want more access to their property managers. Much more than ever before. We all have smartphones, but really that’s the wrong name for them. They should be called “being on call 24/7” phones. I personally love the calls on a Monday morning that begin with, “I rang you yesterday, but you didn’t answer or you haven’t returned my call.” No, I didn’t answer, I was busy with my children. They too are entitled to have a piece of me.
While I am all for building relationships with clients, because it’s both rewarding and beneficial, sometimes the expectation is a little out of whack!
I remember growing up my parents taught me that you never made a telephone call after 8.30pm or 9, yet now our mobiles continue to ring until late into the night, on weekends and even on Christmas Day. So when is it too late to make a call?  When does it become rude or an invasion of your personal time?
With all that being said, how has the management fee we earn per property decreased when we do so much more work and are more accessible than ever before?
So how can things change?
Property managers and directors need to stand up and say enough is enough. If you want more of me than the average property manager, then you have to pay a little more. This means I will no longer be prepared to agree to low management fees. I will no longer be agreeable to providing my services time and time again and not be paid accordingly.  We are professionals, so if we don’t make a stand, we can never expect to be paid what we deserve.
Now with all that being said, there will always be someone cheaper. And that’s when you have to remember that not all business is good business. Sooner or later clients realise cheap is not always best.
I recently lost some business to a new client who elected to have their property managed by someone else. The other manager offered lower fees than we did. The funny part is, when it came to transferring the management, the new agent asked one of my team, “So what information do I need to obtain from you to take over this property?”. A perfect example of what cheap buys you. Unfortunately for that client, it will probably result in a continual change in property managers (which is an owner’s pet hate) or the rent roll being sold as that agent can no longer afford to be in business. I suppose only time will tell.
Leah Calnan is the director of <a href="https://www.metropm.com.au/" title="Metro Property Management homepage" target="_blank">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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leahcalnan-pwE6GD6KY9

Property managers should not have to be on call 24/7

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Every capital city has both a CBD and suburban office market. And as you can appreciate, keeping tabs on all the various suburban markets is almost an impossible task for most investors.
But generally speaking, the health (or otherwise) of the CBD office market within each capital city will provide you with a fairly good gauge of the overall office scene around Australia.
Accordingly, this graph will provide you with a clear picture of what has occurred over the past four years.
<img src="/images/stories/langjan20.gif">
As a rule of thumb, office markets are said to the "in balance" when their vacancy rate lies between 5% and 7%.
A vacancy rate within this range provides landlords with consistent rental growth and tenants with the ability to relocate or expand, with few constraints.
As a commercial property investor, what you are seeking is solid predictable growth — rather than wildly frustrating fortunes.
So let's take a quick look at how the vacancy rates for each capital city have fluctuated over the past four years.
<img src="/images/stories/langjan201.png">
As you can see from this table and graph, of all the capital cities, Melbourne remained pretty much within the "balanced" range over this period – despite the global turmoil.
Whereas, once the turmoil struck:
The vacancy rate for Brisbane, Perth and Adelaide overshot that balanced range in the opposite direction.
Sydney's vacancy rate remained around 8% because of its high concentration of financial institutions; and
Canberra's high vacancy rate simply reflected some major government relocations.
Throughout this period, the Melbourne market experienced only a 2.7% spread between its lowest and highest vacancy rate.
Whereas Brisbane and Perth experienced spreads of 10.7% and 8.3%, respectively.
Such wild fluctuations can bring untold joy as long as you're lucky enough to get out before the inevitable collapses, which tend to occur in these rather volatile markets.
That way, you can avoid the accompanying financial heartache.
Bottom line: If you're like most investors, you probably prefer being able to sleep peacefully, knowing that your growth is predictable and secure.
Therefore, unless you are an experienced on-the-ground trader in commercial property, you would be well advised to steer clear of the rather volatile markets in both Brisbane and Perth.
Right now, Melbourne offers you the greatest surety of long-term profit for commercial property — with Sydney expected to respond once the financial turmoil subsides.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a target="_blank" title="Chris Lang's blog" href="https://his-best.biz/">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
 
 
 
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chrislang-EQKojcgJPV

What an office vacancy rate means for commercial property investment

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Channel Seven’s Sunrise host David Koch and his wife, Libby, have put the boot into the struggling Gold Coast and Sunshine Coast markets by warning property investors to steer well clear of these two coast locations.
As part of their 2012 outlook the Kochs note “the property catastrophe underway in places like the Sunshine and Gold coasts” and “slowly deflating residential property values”.
“Property is all about demand and supply. Those regions which went through a construction boom in recent years are currently suffering the most,” the Kochs say.
This is by no means the first time the Kochs have warned investors of the perils of buying in Queensland’s tourism heartland.
In October last year, Kochie blogged that on the Gold and Sunshine coasts the oversupply of high-rise apartments was “nothing short of devastating”, with possible flow-on effects for Brisbane.
“Brisbane could turn in to a property nightmare with its declines being accentuated by the crash in nearby Gold and Sunshine coasts, where there is a massive oversupply of stock,” he says.
“In both regions there is four to five years’ worth of stock on the market as massive apartment blocks sold off the plan have failed to settle. Even just across the border at Tweed Heads is suffering. It will be years before there is any sort of recovery.”
<img src="/images/stories/kochiechart.gif">
Chinese buyers clearly disagree with the Kochs at least when it comes to the Gold Coast – according to research by Colliers, they upped their investments in Gold Coast real estate by 128% in the last year, spending around $66 million.
According to research by Lynda Campbell from Colliers, there about 1,2oo new apartments for sale on the Gold Coast – the lowest level since 2004.
 
 
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Kochie to property investors: Avoid ‘catastrophic’ Gold and Sunshine coasts

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House price expectations improved markedly in January led by improvements in the resource-rich states of Western Australia and Queensland, according to the Westpac-Melbourne Institute Consumer House Price Expectations Index.
The index posted a strong rise in January, increasing 16.1 points from 9 in October to a current level 25.1 – the highest reading since April last year and the first gain since January 2010.
Despite this improvement in sentiment, less than half (47.6%) of consumers expect prices to be higher in 12 months, with 30% expecting no change and the remainder (22.5%) expecting further price declines.
<img src="/images/stories/expectations.gif">
Source: Westpac-Melbourne Institute 
On a state-by-state basis, Queensland recorded the biggest improvement in sentiment, with its index rising from -9.8 in October to 27 points in January. Nearly half of respondents expect Queensland house prices to increase in 2012. About 30% of respondents expect house prices to stay the same in Queensland.
The Western Australian index improved strongly from 10.1 points in October to 32.7 points in January.
Western Australians are the most optimistic about house prices rising and the only state where more than 50% of those surveyed expect prices to rise over 2012.
<img src="/images/stories/expectations2.gif">
Commenting on the January index result, Westpac senior economist Matthew Hassan says state trends were “striking”.
“All states recorded a rise in house price expectations, but by far the biggest gains were in the resource states.
“Expectations have swung 180 degrees in Queensland from price pessimists dominating in October to optimists now outnumbering pessimists by two to one in January.
“Expectations also jumped sharply in WA, which was the only state to record an outright majority expecting house price gains in the year ahead.
<img src="/images/stories/expectations3.gif">
Source: Westpac-Melbourne Institute
“Victorian consumers were much more subdued on the house price outlook, with one in four still expecting price declines in the year ahead,” Hassan says.
Hassan says the RBA's interest rate cuts in Nov and December appear to have “driven a significant shift in consumer house price expectations”.
“To date, the trajectory looks similar to that in 2008-09. However, there are some notable differences – the starting point for price expectations is firmer, the interest rate stimulus is less aggressive (mortgage rates fell more sharply and were much lower in 2008-09) and fiscal measures (first-home buyer incentives in particular) are providing less support.
“The improvement is much more lopsided as well with younger age-groups and those in resource states leading the way. This suggests we may also see an uneven improvement in housing markets in 2012.”
First-home buyers are the most optimistic about house prices among buyer types with, investors the least optimistic.
<img src="/images/stories/expectations4.gif"> 
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Queensland and WA lead improvement in house price sentiment in January: Westpac

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Residential land sales remain at low levels, but sales look to be climbing off the mat, which may flow through to improved retail conditions, according to the HIA-RP Data Residential Land Report.
“It’s a long climb back, but at least we have now seen three consecutive quarters in which land sales volumes have increased, although there is no avoiding the fact that overall levels remain low,” says HIA senior economist Andrew Harvey.
The report found the volume of land sales increased by 1.3% in the September 2011 quarter although volumes were 16.8% lower than in the September 2010 quarter and substantially lower than the September 2009 peak.
“Land sales are an early leading indicator so an upturn in trajectory is essential to the prospect for an eventual recovery in new home building activity – although we really do need much higher sales levels to make a material difference,” Harvey says.
“Having land sales still at less than half the September 2009 peak speaks for itself in terms of how far the market has come off and adds to the already strong case for stimulatory policy, both in terms of further rate cuts and fiscal measures to stimulate new home building,” Harvey adds.
“Any improvement in land sales is an encouraging development for the housing construction industry, while there are also positive flow-on affects,” RP Data senior research analyst Cameron Kusher says
“When people build a new home they typically purchase furniture and homewares, buy new electrical goods and spend money on hardware. Should the improvement in land sales continue it is likely to provide a much needed boost for retailers,” Kusher says.
The weighted median land value in Australia grew by 0.5% in the September 2011 quarter to be 1.7% higher than in 2010.
The median value for capital cities land rose by 1% in the September 2011 quarter to $213,718, or 2.5% higher than one year earlier.
The median value for regional land eased 0.7% in the quarter to $154,989, to be up by 0.2% on the same time in 2010.
Kusher says the result is encouraging, but he cautions that the market still has a long way to go.
“Following the low point in sales activity in the December 2010 quarter there has been a noticeable improvement in the number of vacant land transactions.
“It is also important to remember that the improvement commenced at a time when many expected that official interest rates would climb higher.
“With successive 25 basis point cuts to interest rates in November and again in December 2011, we would expect that a steady improvement in sales activity which commenced in the December 2010 quarter is likely to continue and perhaps gather further pace.
“However, we believe the market still has a long way to go to return to healthy levels,” Kusher says.
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Small uptick in residential land sales activity might bouy retail: HIA- RP Data

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HIA and RP Data have released a list of the least expensive regional markets for vacant land.
<table style="width: 470px;" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="54">
Rank
</td>
<td valign="top" width="356">
Region
</td>
<td valign="top" width="205">
Median lot price
</td>
</tr>
<tr>
<td valign="top" width="54">
1
</td>
<td valign="top" width="356">
Northern (SA)
</td>
<td valign="top" width="205">
$60,000
</td>
</tr>
<tr>
<td valign="top" width="54">
2
</td>
<td valign="top" width="356">
South East (SA)
</td>
<td valign="top" width="205">
$75,000
</td>
</tr>
<tr>
<td valign="top" width="54">
3
</td>
<td valign="top" width="356">
Southern (TAS)
</td>
<td valign="top" width="205">
$77,250
</td>
</tr>
<tr>
<td valign="top" width="54">
4
</td>
<td valign="top" width="356">
Mallee (VIC)
</td>
<td valign="top" width="205">
$78,750
</td>
</tr>
<tr>
<td valign="top" width="54">
5
</td>
<td valign="top" width="356">
Northern (NSW)
</td>
<td valign="top" width="205">
$83,000
</td>
</tr>
<tr>
<td valign="top" width="54">
6
</td>
<td valign="top" width="356">
Murray Lands (SA)
</td>
<td valign="top" width="205">
$87,000
</td>
</tr>
<tr>
<td valign="top" width="54">
7
</td>
<td valign="top" width="356">
Murrumbidgee (NSW)
</td>
<td valign="top" width="205">
$90,000
</td>
</tr>
<tr>
<td valign="top" width="54">
8
</td>
<td valign="top" width="356">
Yorke and Lower North (SA)
</td>
<td valign="top" width="205">
$91,500
</td>
</tr>
<tr>
<td valign="top" width="54">
9
</td>
<td valign="top" width="356">
Mersey-Lyell (TAS)
</td>
<td valign="top" width="205">
$95,000
</td>
</tr>
<tr>
<td valign="top" width="54">
10
</td>
<td valign="top" width="356">
Murray (NSW)
</td>
<td valign="top" width="205">
$100,000
</td>
</tr>
</tbody></table>
 
Source: HIA, RP Data
 
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cknowlton-QnEa6ntUYP

Top 10 least expensive regional markets for vacant land: HIA- RP Data

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HIA and RP Data have released a list of the top 10 most expensive regional markets for vacant land.
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="54" valign="top">
Rank
</td>
<td width="356" valign="top">
Region
</td>
<td width="205" valign="top">
Median lot price
</td>
</tr>
<tr>
<td width="54" valign="top">
1
</td>
<td width="356" valign="top">
Richmond-Tweed (NSW)
</td>
<td width="205" valign="top">
$238,250
</td>
</tr>
<tr>
<td width="54" valign="top">
2
</td>
<td width="356" valign="top">
Sunshine Coast (QLD)
</td>
<td width="205" valign="top">
$237,500
</td>
</tr>
<tr>
<td width="54" valign="top">
3
</td>
<td width="356" valign="top">
Gold Coast (QLD)
</td>
<td width="205" valign="top">
$225,000
</td>
</tr>
<tr>
<td width="54" valign="top">
4
</td>
<td width="356" valign="top">
Illawarra (NSW)
</td>
<td width="205" valign="top">
$220,000
</td>
</tr>
<tr>
<td width="54" valign="top">
5
</td>
<td width="356" valign="top">
Barwon (VIC)
</td>
<td width="205" valign="top">
$189,000
</td>
</tr>
<tr>
<td width="54" valign="top">
6
</td>
<td width="356" valign="top">
Fitzroy (QLD)
</td>
<td width="205" valign="top">
$180,000
</td>
</tr>
<tr>
<td width="54" valign="top">
7
</td>
<td width="356" valign="top">
South Eastern (WA)
</td>
<td width="205" valign="top">
$179,000
</td>
</tr>
<tr>
<td width="54" valign="top">
8
</td>
<td width="356" valign="top">
Hunter (NSW)
</td>
<td width="205" valign="top">
$178,000
</td>
</tr>
<tr>
<td width="54" valign="top">
9
</td>
<td width="356" valign="top">
Mackay (QLD)
</td>
<td width="205" valign="top">
$172,000
</td>
</tr>
<tr>
<td width="54" valign="top">
10
</td>
<td width="356" valign="top">
Mid-North Coast (NSW)
</td>
<td width="205" valign="top">
$170,000
</td>
</tr>
</tbody></table>
 
Source: HIA and RP Data
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Top 10 most expensive regional markets for vacant land: HIA- RP Data

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The Sydney unit market remained resilient in 2011, with prices rising 2.16% over the year to a median of $488,000. The New South Wales capital outperformed the national market, which fell 0.3% to a median $398,000, according to the latest Residex data. 
However, the pace of Sydney unit price growth slowed in the last six months of the year – at the end of June 2011, Sydney unit prices were growing at annualised rate of 4.4%. 
As with its <a href="https://www.propertyobserver.com.au/residential/melbourne-leads-nationwide-drop-in-house-prices-in-second-half-of-2011-residex/2012011753062" target="_blank">housing market</a>, the decline in Melbourne’s unit prices accelerated significantly in the last half of 2011. 
According to Residex, Melbourne unit prices declined more than 5% over 2011 to a median price of $434,500 – six months ago, the Victorian capital’s unit prices were still growing, albeit at a very modest 0.26%. 
There was some respite in country Victoria, which recorded a small increase in unit prices, with values rising 0.67% for the 2011 calendar year to a median of $258,000. 
Canberra was the only capital city unit market where values picked up in the second half of 2011, rising 2.4% on annualised basis to a median of $432,000 after recording growth of 1.97% at the end of June 2011. 
The federal capital also bucked a trend of declining sales activity and recorded a 23% increase in unit sales over the year, compared with a drop 6.2% nationally. 
Melbourne was the only other market to record an increase, with sales activity rising by just over 1% over the year. 
 
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="205">
 
</td>
<td valign="top" width="205">
Annual change in unit prices as of December 2011
</td>
<td valign="top" width="205">
Annual change in unit prices as of June 2011
</td>
</tr>
<tr>
<td valign="top" width="205">
Perth
</td>
<td valign="top" width="205">
-5.05%
</td>
<td valign="top" width="205">
-3.54%
</td>
</tr>
<tr>
<td valign="top" width="205">
Melbourne
</td>
<td valign="top" width="205">
-4.28%
</td>
<td valign="top" width="205">
0.26%
</td>
</tr>
<tr>
<td valign="top" width="205">
Brisbane
</td>
<td valign="top" width="205">
-4.18%
</td>
<td valign="top" width="205">
-3.19%
</td>
</tr>
<tr>
<td valign="top" width="205">
Adelaide
</td>
<td valign="top" width="205">
-3.53%
</td>
<td valign="top" width="205">
-0.33%
</td>
</tr>
<tr>
<td valign="top" width="205">
Canberra
</td>
<td valign="top" width="205">
2.39%
</td>
<td valign="top" width="205">
1.97%
</td>
</tr>
<tr>
<td valign="top" width="205">
Sydney
</td>
<td valign="top" width="205">
2.16%
</td>
<td valign="top" width="205">
4.43%
</td>
</tr>
<tr>
<td valign="top" width="205">
Australia
</td>
<td valign="top" width="205">
-0.3%
</td>
<td valign="top" width="205">
0.44%
</td>
</tr>
</tbody></table>
 Source: Residex
Outside of the major capital cities, Darwin unit prices fell by almost 8% over the course of 2011 to a median of $391, 500. Six months ago Darwin unit prices were down 5.61%.
Outside of urban areas, country unit prices tumbled most notably in country Queensland, where prices fell over 10% to a median of $300,000 and in country Tasmania, where prices fell 9% to $206,000.
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td>
Area
</td>
<td>
Median unit value
</td>
<td>
10years % p.a.
</td>
<td>
Year ending Dec 2011
</td>
<td>
Last quarter
</td>
<td>
Last month
</td>
</tr>
<tr>
<td>
ACT
</td>
<td>
$432,000
</td>
<td>
9.22%
</td>
<td>
2.39%
</td>
<td>
0.29%
</td>
<td>
1.99%
</td>
</tr>
<tr>
<td>
Adelaide
</td>
<td>
$307,500
</td>
<td>
9.12%
</td>
<td>
-3.53%
</td>
<td>
-0.92%
</td>
<td>
-0.81%
</td>
</tr>
<tr>
<td>
SA Country
</td>
<td>
$230,500
</td>
<td>
7.20%
</td>
<td>
-1.96%
</td>
<td>
0.89%
</td>
<td>
-0.50%
</td>
</tr>
<tr>
<td>
Brisbane
</td>
<td>
$353,000
</td>
<td>
8.83%
</td>
<td>
-4.18%
</td>
<td>
-0.78%
</td>
<td>
-0.01%
</td>
</tr>
<tr>
<td>
QLD Country
</td>
<td>
$300,000
</td>
<td>
7.32%
</td>
<td>
-10.11%
</td>
<td>
-4.63%
</td>
<td>
-2.47%
</td>
</tr>
<tr>
<td>
Darwin
</td>
<td>
$391,500
</td>
<td>
10.72%
</td>
<td>
-7.73%
</td>
<td>
0.42%
</td>
<td>
1.31%
</td>
</tr>
<tr>
<td>
Northern Territory
</td>
<td>
$377,500
</td>
<td>
10.62%
</td>
<td>
-8.05%
</td>
<td>
-1.10%
</td>
<td>
0.08%
</td>
</tr>
<tr>
<td>
Hobart
</td>
<td>
$274,500
</td>
<td>
10.08%
</td>
<td>
-5.14%
</td>
<td>
2.33%
</td>
<td>
1.47%
</td>
</tr>
<tr>
<td>
TAS Country
</td>
<td>
$206,000
</td>
<td>
9.91%
</td>
<td>
-9.01%
</td>
<td>
-0.98%
</td>
<td>
1.47%
</td>
</tr>
<tr>
<td>
Melbourne
</td>
<td>
$434,500
</td>
<td>
6.99%
</td>
<td>
-4.28%
</td>
<td>
-1.79%
</td>
<td>
0.34%
</td>
</tr>
<tr>
<td>
VIC Country
</td>
<td>
$258,000
</td>
<td>
7.99%
</td>
<td>
0.67%
</td>
<td>
-0.74%
</td>
<td>
0.29%
</td>
</tr>
<tr>
<td>
Perth
</td>
<td>
$378,500
</td>
<td>
9.01%
</td>
<td>
-5.05%
</td>
<td>
-0.96%
</td>
<td>
1.84%
</td>
</tr>
<tr>
<td>
WA Country
</td>
<td>
$301,500
</td>
<td>
7.02%
</td>
<td>
-0.72%
</td>
<td>
-0.43%
</td>
<td>
1.76%
</td>
</tr>
<tr>
<td>
Sydney
</td>
<td>
$488,000
</td>
<td>
4.81%
</td>
<td>
2.16%
</td>
<td>
0.87%
</td>
<td>
0.24%
</td>
</tr>
<tr>
<td>
NSW Country
</td>
<td>
$298,000
</td>
<td>
6.28%
</td>
<td>
-1.14%
</td>
<td>
-1.04%
</td>
<td>
-0.85%
</td>
</tr>
<tr>
<td>
Australia
</td>
<td>
$398,000
</td>
<td>
6.58%
</td>
<td>
-0.30%
</td>
<td>
0.34%
</td>
<td>
0.50%
</td>
</tr>
</tbody></table>
 
 
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