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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Home ownership levels have continued to rise over the past two decades and may be at record levels, the industry has tipped after the Australian Bureau of Statistics released new data showing the percentage of income put towards a home loan has stayed steady since 1994.

The figures show that although house prices have actually increased by more than 114%, the average household with a mortgage is still paying 42% of their income, roughly in line with the same figures from 1994.
Moreover, the figures show 36% of Australians had mortgages in 2009-10, up from 30% in 1994. APM economist Andrew Wilson says it is likely that since then, the percentage has continued to rise.
"Home owner occupancy levels have continued to hold up, and I'd suggest those numbers would rise once we get census data because of the great surge we had in first home buyers."
The data does indeed show of the 1.07 million households that purchased their home in the three years to 2009-10, 40% were first home buyers. Most first home buyers had a reference person aged under 35, while less than 10% had a reference person aged 45 years or over.
"I'd actually expect us to see record levels of home ownership when that data comes through. Of course, we're suffering from having much lower levels of first home owner stimulus, but I expect that data to still be high," Wilson says.
And although the data shows housing costs have remained in proportion to income, there are some caveats. Between the two surveys, private renters have seen a 45% increase in weekly housing costs after inflation. For public renters, the proportion of income needed for housing has risen from 17% to 19%.
The figures also show that the number of Australians who own a house with no mortgage has fallen to 33% from 42%, while 24% of Australians are now renting, compared with 18% in 1994.
"The decline in outright home ownership may, in part, reflect increasing uptake of flexible low-cost financing options which allow households to extend their existing home mortgages for purposes other than the original home purchase," the report states.
However, the figures also show a clear gap between professional singles, young couples without children and dual income families, and then families with single parents.
Younger persons in a couple were more likely to buy than younger singles. But for couples with dependent children, the eldest under five years, 64% owned their home, although this rose to 75% with the eldest aged between five and 14.
But one parent households with dependent children were more likely to rent, 58%, than to own their own home, only 40%. "And they were the life cycle group most likely to be renting through a state or territory housing authority (13%)."
The figures also show a clear trend towards larger homes, with the number of people per house also growing as well.
Households that owned their home with a mortgage had one or more rooms to spare, at 89%, with 68% of couples living with children having at least one spare bedroom.
"On average, dwellings for couples with dependent and non-dependent children contained the highest number of bedrooms (3.9) and housed an average of 4.7 people."
Experts say this could indicate why construction has not increased and there is a deficiency in dwellings, as more homeowners are using their spare rooms instead of those people moving out into other dwellings.
This article originally appeared on <a href="https://www.smartcompany.com.au/property/20111117-home-ownership-still-affordable-on-the-rise-abs-figures-show" target="_blank">SmartCompany</a>.
 
 
 
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cknowlton-QnEa6ntUYP

Home ownership still affordable and on the rise: ABS

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Financial market failures were a major cause of the world’s economic crisis, but housing markets played a leading part, according to research by OECD research.
From the subprime debacle in the US to the bursting of unprecedented real estate bubbles in Ireland, Spain and Greece, among others, the overheating and collapse of property markets not only hurt savings and investments, but was felt throughout entire economies, affecting construction, employment, lending and spending, a report in the OECD Observer magazine notes.
“Generally speaking, real house prices had started to peak in the vast majority of OECD countries prior to the financial crisis,” say researchers Linda Rousová and Paul van den Noord in Predicting Peaks and Troughs in Real House Prices.
“But a striking development has been the rebound in real house prices in some (but not all) OECD countries since then.
“In Canada and Australia, for instance, as well as in Belgium, Finland, France, Norway, Sweden and Switzerland, prices have firmed up, in part thanks to substantial easing of monetary policies (with record low interest rates).”
The article notes prices had risen dramatically within some prime city markets such as Paris and London as investors fled less attractive property markets, and as stock markets became more volatile.
However the situation was far from positive elsewhere.
“Outside London, the UK market has barely seen any recovery at all, while in Denmark, Korea and New Zealand, property prices remain modest at best.
“The slide in real house prices continues unabated in Greece, Ireland, Italy, the Netherlands, Spain and the United States.
“Germany and Japan are the outliers, as they are still working off their housing bubbles from the early 1990s,” the article says.
“However, there are signs of bottoming out in Germany, while in Japan real house prices may finally trough in 2011 or 2012.”
The commentary suggests spotting such turning points in property markets is important to policymakers.
“OECD economists use what are called probit models, which compute the probability of peaks and troughs.
“The predictions are based on developments in basic indicators such as interest rates, the supply of new housing and the business cycle, not to mention the pace of house price changes observed in recent quarters.
It notes these probit exercises sketch a rather bleak near-term future for real house prices generally.
“For the countries where real house prices have seen an upswing, peaks are predicted to occur before the end of 2012,” the article says.
“This does not necessarily point to a ‘bubble’ in these countries, but it does spell a likely turning point.”
It concludes property markets in most of the countries where house prices have been falling –Denmark, Italy, Korea, the Netherlands, New Zealand and the UK – will remain volatile.
“However, the US, Greece, Ireland and Spain could see troughs in 2011 or 2012, though for the latter three this assumes a resolution is found to the current sovereign debt crisis, resulting in a narrowing of interest rate spreads with Germany.”
<img src="/images/stories/oecd.gif">
It notes among the 20 countries for which the OECD maintains a quarterly database for real house prices it is possible to distinguish four groups of countries in terms of their response to the financial crisis.
Australia was in the first with a relatively sharp rebound, in the range of 5% to 15%, being observed in eight countries (Australia, Belgium, Canada, Finland, France, Norway, Sweden and Switzerland).
“In three cases (Australia, Canada, Sweden), however, the rebound seems to have run out of steam, possibly in response to monetary policy tightening.”
The second, weaker and already faltering rebounds were observed in four countries (Denmark, Korea, New Zealand and the United Kingdom). In all these cases, the rebound in real house prices seems to have been akin to a “false start” in response to monetary policy easing, possibly masking a continued underlying downturn.
Third, an outright slide in real house prices is observed in six countries (Greece, Ireland, Italy, Netherlands, Spain and the United States). Among these, the by far sharpest downturns are observed in Greece, Ireland, Spain and the United States, with more moderate downturns in Italy and the Netherlands.
The fourth group showing long-term declines in real house prices were Germany and Japan when the financial crisis hit, as these were still working off their housing bubbles of the early 1990s. In the case of Germany real house prices seem to be gradually picking up since 2008.
The caveat is that, as with any market, making predictions about house prices was always surrounded by uncertainty.
“Even so, it seems likely that most countries now showing upswings in real house prices will see their housing cycle turn downwards in 2012, while declining property markets in most countries that are currently experiencing downturns are not expected to bottom out.”
 
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jchancellor-FAypfDUnLy

Property market played a leading role in global financial crisis: OECD

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Only a third of 1,100 enclosed regional shopping malls in the US are currently viable, according to The International Council of Shopping Centres.
Developers in the US have been moving away from the enclosed-mall format in favour of big-box centres anchored by free-standing giants such as WalMart.
A shift in online spending as well as large big box retailers like Costco entering the market may see Australia follow suit, says Lisa Scharoun, assistant professor of graphic design at UC.
“The recent bankruptcies of the Colorado Group and the RED group may signal a potential downturn in the viability of the enclosed shopping mall environment in Australia.”
Scharoun says big-box centres have replaced enclosed shopping malls in many areas across the US and pose a threat to public space in urban and social areas with their lack of seating, community spaces and food courts.
“The shopping mall – it’s an essential part of American culture – the quintessential US shopping experience. And Australia isn’t far behind. More and more of us are ditching local stores for the convenience of the one-stop shop.”
“In the newly created American suburbs of the early 1950s, a problem emerged about how to make shopping more convenient when cars were the dominant form of transport.”
“Designer Victor Gruen envisioned a fully enclosed shopping centre that would be ‘the nucleus of a utopian experiment’,” she wrote on <a href="https://theconversation.edu.au/dawn-of-the-dead-mall-will-we-follow-the-us-and-dump-the-shopping-centre-3507?utm_source=The+Conversation+Daily+updates&amp;utm_campaign=a97078fa21-DailyNewsletter&amp;utm_medium=email">The Conversation website.</a>
“He wanted to create a space that would be something more than simply a place to buy essentials.”
“His goal was to design an enclosed interior pedestrian city surrounded by ample parking that would encourage the consumer to linger longer, thus extending the possibilities of socialisation and community.”
“The first fully enclosed mall, Southdale Mall in Edina Minnesota, opened in 1952. Free from the perils of car traffic, Gruen’s dream of an internal pedestrian city was realised,” Scharoun writes
“Gruen’s design called for expansive, windowless cement exteriors, punctuated by ‘big blocks of color and inviting entrance arcades’. The mute exterior of the mall offered nothing to the sidewalks and parking areas and created a distinct divide between the private shop and the cityscape.”
“Instead, the entire streetscape was brought indoors, into the more easily managed interior mall space.”
“The Southdale shopping mall design was so successful that it became the standard for retail construction in America for over 50 years.”
“The impact of the mass reproduction of this centrally controlled, privatised marketplace has been vast," she says.
“The success of Southdale was a catalyst for retail change. Hundreds of shopping malls copied its model across the country. It contributed to the decline of Main Street America and many inner cities across the country.”
“The enclosed shopping mall has proved to re-define the concept of a ‘town centre’ by stripping away the sense of authentic community and freedom that existed in the traditional town centres of rural and urban areas across America.”
“Despite the negative connotations associated with the shopping mall, however, it has been referred to as a “temple of consumerism” and is discussed as offering a replacement for traditional temples of worship in an increasingly secular population.”
“Although the privatised and controlled nature of a shopping mall has led to the homogenisation of public space, the mall has engendered a sense of community amongst specific demographic groups, such as adolescents and the elderly, who use the space as a primary site for identity creation, companionship and social interaction.”
“The enclosed shopping mall has also become a symbol of American culture, and is frequently used as a backdrop for films and popular media depicting the American condition. And the model has been replicated in suburban and urban environments throughout the world.”
“Australia adapted this model very early on, building the first suburban shopping centre, Chermside, in Brisbane in 1957.”
“Myers completed the design for the Chadstone shopping centre in the suburbs of Melbourne around the same period, and so the die was cast: suburban enclosed shopping malls started popping up across the country.”
“According to the Shopping Centre Council of Australia, currently there are 1,338 shopping centres in this country.”
“And, it says, ‘some of the larger centres attract well over 15 million shopper visits per year. Across Australia, there are 1.75 billion shopper visits each year. That means, on average, each Australian visits a shopping centre twice a week’.”
“Shopping trends in Australia are often directly tied to the United States. Research by Morgan Stanley relays that Australia lags behind the US by about five years in their adoption of shopping trends.”
 
 
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Online retailing and big-box centres killing shopping centres: Academic

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One of Manly’s historic retail properties, the 1918 Manly Emporium, has been sold by Raine &amp; Horne Commercial Northern Beaches for $9 million plus.
It’s been purchased by the International College of Management Sydney (ICMS).
The deal included the rear-adjoining property 50 East Esplanade.
According to selling agent Vincent West, the sales manager at Raine &amp; Horne Commercial Northern Beaches, the sale had been long sought by the college.
The college recently made an offer that was accepted by the trustee Wadian Nominee, which has looked after the property for many years.
It builds on their current St Patrick’s Estate hospitality operations, where they have been located since 1995.
The International College of Management, Sydney offer business degrees in sports management, hospitality, event management, property management, international tourism and business management.
"It represents one of Manly’s most important commercial sites, with its sought-after position fronting the southern side of the famous Corso, where daily foot traffic in the thousands strolls between Manly Wharf and Manly Beach,” says West.
“Some older Manly residents may also know the site as the location of the iconic Manly Pool Halls, which previously occupied the upper levels of the building,” he adds.
The two properties are home to ground floor retail premises occupied by major tenant Harrison’s Pharmacy, as well as a souvenir store.
 
 
 
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Manly emporium sells to International College of Management Sydney

chrisjoye-JYhJsTrNRC

Economists and traders fighting a false forecasting war: Christopher Joye

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A three-level Darlinghurst building that suited retail, office, restaurant, artistic or residential uses has been sold for $4.39 million.
The 900-square-metre Crown Street property with historic façade was sold with vacant possession having been most recently tenanted and renovated by contemporary office design company Zenith Interiors.
<a href="https://www.propertyobserver.com.au/commercial/philip-mason-to-discard-his-darlo-property-plaything/2011091551550" target="_blank">It was Australian Playboy’s headquarters from 1982 to around 1990</a> given the owner and vendor is Philip Mason, who was the publisher of Australian Playboy for 16 years, and his wife, Alexandra Joel. Both attended the auction.
It sold through Cushman &amp; Wakefield agents Tony Anderson and Lindsay Sturrock.
Set between Liverpool and Stanley streets, it attracted strong interest from owner-occupiers, residential converters and investors, seemingly selling to a syndicate headed by Oscar Done.
It last traded for $375,000 in 1981.
Cushman &amp; Wakefield has earlier success last year when the 500-square-metre Luxe Studios property around the corner, at 279-283 Liverpool Street, for $4.93 million.
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Philip Mason discards his Darlo property in a Done deal

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CBD hotels recorded a total return of 18% for the year ending September 2011, according to the Property Council of Australia/IPD Hotel Property Index, which provides a measure of investment market performance for the hotel sector. 
The total CBD hotels return comprised a positive 8.5% income return and positive 8.8% capital growth. 
Returns for investors in hotels outside of the CBD were less stellar, delivering a total return of 14.9% and underperforming the broader hotel market, which rose 17% for the year on the back of strong capital growth of 7.5%.
<img src="/images/stories/cbrenov16.jpg">
The stronger returns generated by CBD hotels was the result of them benefiting from higher occupancy rates than hotels in non-CBD locations. 
The high demand for CBD hotels reflected strong business from corporate travellers and an undersupply of quality hotels rooms in major CBD markets, the report says. 
Commenting on the report, Tony Ryan, principal of Ryan Lawyers, says that despite the high Aussie dollar and uncertainty in the traditional source market of US and Europe, CBD hotels, in particular, have enjoyed very strong total returns of 18% based equally on income and capital growth. 
“With domestic corporate demand still robust, CBD hotels are hard to beat,” he says. 
Anthony De Francesco, managing director of IPD in Australia and New Zealand, says the hotel sector has shown strong investment performance over the year to September 2011. 
“This is in stark comparison to other asset markets which are suffering from soft returns due to adverse capital market conditions and an unfavourable economic climate.”
“Growth in occupancy rates has placed upward pressure on room rates and has resulted in strong investment returns.”
“We expect the hotel property sector to outperform the other competing core property sectors over the next few quarters.”
 
 
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lschlesinger-FZcF9M3vE6

CBD hotels deliver return of 18%: Report

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They’re low-maintenance, affordable and concentrated in the hippest parts of town. No wonder studio apartments are proving hard to resist for buyers and tenants alike.
For investors, studios are a more affordable and safer option than bigger properties and can provide a higher rental return.
Andrew Donnelly, CEO of property marketing firm Whiterock Capital Partners, says studios can command rental yields of 1% to 1.5% higher than one-bedroom and two-bedroom apartments.
“That means from an investment perspective, studios are affordable to buy but the yields are much better than bigger properties,” he says.
“Studios offer yields closer to 6%, whereas a one-bedroom apartment will provide a yield of 5% and a two-bedroom a yield of 4.5%. And when it comes to renting out studios, there’s a queue halfway down the street with people wanting to rent these properties.”
<img src="/images/stories/studio.jpg">
Real estate agent Eileen Carroll of Ray White Glebe in Sydney recently sold a studio apartment on Ward Avenue, Potts Point for $253,000. The property was rented at $380 a week on a casual basis but is more likely to secure a weekly rent of $350 on a longer lease. A $350 weekly rent would still deliver an impressive rental yield of 7.2%.
By way of comparison, Carroll sold a two-bedroom apartment on Cook Street, Glebe for $505,000. With a potential weekly rent of $500, the two-bedder would return a 5.1% rental yield. “Studios definitely offer a better rental return for investors,” Carroll says.
Luke McDonnell, an agent with Richardson &amp; Wrench Elizabeth Bay, says studios in Sydney’s inner east can command rental yields of 5.5% versus a rental yield of 4.8% for two-bedroom apartments.
However, he says investors after quick capital gains should steer clear of studios. “It depends on why they’re investing,” McDonnell says. “If it’s for short-term capital gains, I wouldn’t advise them to buy a studio as capital growth isn’t as strong in the short term as it is for bigger apartments.
“But if you’re looking for strong rental return and an investment you don’t have to think about, then go for a studio.”
<img src="/images/stories/studio4.jpg">
Melbourne agent Nay Baeck, of Little Residential South Yarra, agrees strong rental return is the most attractive feature of studios for investors. “You can’t expect as much in capital growth, but the rental income is very good,” she says. “Studios are popular with tenants because they are cheaper and easier to manage.”
A concentration of studios in Melbourne’s CBD attracts overseas students who pay high rents, according to Baeck. In this case, furnished apartments tend to fare better in attracting tenants.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/stylish-studios-finding-new-buyers-new-marketing-and-a-new-name/2011111552371?source=flicker2">Yesterday we looked at the increasing numbers of owner-occupiers and investors who are buying studios</a>, which have sometimes been renamed suites. 
 
 
 
 

 
 
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Yields of up to 6% draw investors to studio apartments

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Medium-density living in Canberra is rising in popularity amid a shift in ACT government direction towards urban densification, according to a report by Colliers International.
The report shows that units now represent 44% of the Canberra real estate market, up from 31% in 2001.
<img src="/images/stories/colliersnov11.gif">
“Traditionally detached houses have been the main type of dwelling in Canberra,” Colliers International state chief executive Paul Powderly says.
“However, according to our latest research on the apartment market in the ACT, this trend has started to shift, with medium-density dwellings gaining in popularity. In 2010 the number of medium-density dwellings approved exceeded the detached dwelling market.”
Powderly explains that a significant number of new apartment projects have come onto the market in the past 12 months, and all have sold well.
The ACT government’s recent draft planning strategy was launched by Minister for Environment and Sustainable Development Simon Corbell in October.
The strategy is set to guide to development of Canberra over the next 30 years and aims to make Canberra a compact and efficient city. One of the key targets of the strategy is to build 50% of new housing within the established urban area of Canberra and to facilitate a 25% increase in non-detached houses in each district.
“It was pleasing to see the ACT government’s draft planning strategy has recognised this shift and looks at expanding the volume and type of accommodation options available around town centres and along transport route,” Powderly says.
“We know that in major cities overseas people have embraced apartment living as a way to reside close to work and amenities and Canberra looks to be following suit. This will have significant environmental benefits as it reduces commuter traffic and helps protect the capital’s bush setting against urban sprawl.”
 
 
 
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Canberrans moving in closer together as medium-density living on the rise

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Sydney’s Double Bay is closer a $110 million redevelopment of Kiaora Lands, with joint-venture partners Woolworths and Woollahra Council agreeing on commercial plans.
The plans, which were first discussed in 2008, include shops, a Woolworth’s supermarket, a library and a car park built.
The agreement comes after stalls in talks between the two parties in council meetings where three councillors voted to prolong discussions.
The Wentworth Courier reports that the deal includes two loans totalling more than $75 million from Woolworths, with $25 million to be funded through the council’s property reserve.
The Double Day project does not include the neighbouring Sheaf Hotel, which has been a long mooted addition to the project.
The Solotel hotel group is currently trying to <a href="https://www.propertyobserver.com.au/news/new-south-wales/double-bay-s-sheaf-comes-with-golden-expectations/2011071350797" target="_blank">sell the neighbouring heritage-listed 1936 Sheaf Hotel</a> with $80 million hopes through John Musca of Jones Lang LaSalle.
 
 
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