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;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

[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

<html><body>
You’re a $1 million-plus family home buyer. Super Saturday (October 22) has been and gone and you didn’t manage to buy yourself a home from the 150 or so properties that were on offer. What now? With the Melbourne Cup break coming up, it’s time to a) assess your form b) assess your goals c) improve your decision-making processes and/or d) panic.
Let’s start with d) panic. As a home buyer you effectively have a month to find a home or else you probably won’t be settled in a new place until at least Easter 2012. That is six months away, well into the next school year and – oh my god – the footy will have already started again. Six months more of your family unsettled and in limbo. Have you broken into a cold sweat yet?
Well stop it, right now. Take a deep breath and don’t panic. Panic only encourages one thing – poor decisions. Poor buying decisions now will give you and your family weaker long-term outcomes – both financially and emotionally. Poor decisions can lead you to buy the wrong home or miss out on the home you should have bought. Panic leads to weaker negotiating stances.
With four weeks to go and with no obvious target home, the first thing to consider is an alternative home strategy. You could rent, move into a holiday house, move in with family, or buy an interim home. The key to getting temporary family shelter is not perfection but it does have to be comfortable. You want to be in a home that is not going to add stress that will encourage panic and lead to forced decisions – instead of waiting for the right 10-20 year family home.
Assess your form: If you were a racehorse would you back yourself at the next start to win after your last few months of home-buying performances? Have you missed the podium each time the auction race was on?  Was it because you didn’t get the values right, which meant you were shocked by the result every time? Even if you knew how much you needed to pay, did you miss out because you just didn’t perform when it counted? Truthfully assess your skills and your shortcomings and plug the holes either with alternative strategies or some professional assistance – otherwise you will get the same result.
Assess your goals: It’s possible you may not have actually found a home you have wanted to buy yet. You are not alone. We have been in a low-quality stock environment all year and even as professionals we have found it hard sometimes to find good homes to buy. That’s not the case right now, but it has been. However, your goals still may need some tweaking – especially if money seems to be front and centre of almost every family discussion. You may have $3 million tastes with a $2 million budget. You may have bought into what the papers have been saying about the world coming to end, yet the homes you like have three or four bidders and your buy cheap policy is not working. Whatever it is – take a look at what it is you really want. Write down your three Ps – Price, Property and Position – and then get a suburb report of the last 12 months sales and see if there are any homes within your price range. This will give you a clear idea of how realistic your current goals are.
Finally, improve your decision making processes: This can be in the form of DIY improvements or by getting some professional help. A process that will lead to informed and good decisions is 1) clarity of purpose – know what it is you want and match the home to your goals not the other way around. 2) Accurate assessment of a home as to value and whether it meets your needs and 3) planned and professional negotiation to maximise your chance of success within acceptable risk and reward parameters.
You have four weeks after Melbourne Cup to do some things that will make your life better for the next decade. Whatever those actions are base them on good decisions and on clear goals that will result in your family’s best long-term emotional and financial outcomes – and get on with it!
Mal James is principal of<a href="https://www.jamesbuyeradvocates.com.au/" title="James Buyer Advocates" target="_blank"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
</body></html>

maljames-vHwm28JUAa

If you haven't found your dream home yet, don't panic

<html><body>
Gold Coast developer Sunland – which has pretty much returned home from its troubled Dubai foray – has purchased Mariners Cove and Marina at Main Beach at a discounted $13 million.
The purchase follows its <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/leisure/sunland-swaps-palazzo-versace-dubai-for-gold-coast-counterpart/2011101751958" target="_blank">recent move to take complete ownership of the nearby Palazzo Versace</a>.
Industry sources were expecting $20 million for Mariners Cove, which has been in the hands of receivers since late 2009.
SP Marina, a joint-venture of The Raptis Group and City Pacific, had paid $49 million for Mariners Cove in 2007.
"We strongly believe that the location of Mariners Cove and Marina is among one of the premier locations in Australia and we are confident that the redevelopment opportunity will benefit Sunland's future portfolio pipeline,'' Sunland managing director Sahba Abedian says.
Abedian notes that the Mariners Cove and marina centre is a strategic asset and says the group views to own it for the long term.
The group has no immediate plans to develop the centre and believes that there is an opportunity to optimise the income from the existing retail and marina leases in the short to medium term.
The site comprises 1.15 hectares of land lease and 2.8 hectares seabed lease, with 102 marina berths.
Mariners Cove is located in a prime position on the Broadwater of the Gold Coast and is adjacent to the Marina Mirage Retail precinct and Palazzo Versace Hotel.
The site sold through public tender through receivers McGrath Nicol.
Settlement is due on December 24, 2011.
</body></html>

jchancellor-FAypfDUnLy

Sunland cements Gold Coast holdings with neighbouring $13 million Mariners Cove purchase

<html><body>
The Hideaway Resorts portfolio, which includes Dunk Island Resort, Bedarra Island Resort and Bedarra Hideaway in tropical far north Queensland, is close to sale after overwhelming interest in the run-up to bids closing last week.
“Various bids were lodged from a myriad of different investor types, including a number of high-profile, high net worth individuals, to buy the assets either in one line or to acquire the individual resorts,” CBRE hotels senior director Wayne Bunz says.
“We are in the final stage of negotiation and we are confident that we will have unconditional contracts exchanged, if not settled, by Christmas.”
The freehold tenure island offerings – closed since February’s Cyclone Yasi – ranked as the most significant tourism opportunity in the region this year, Bunz notes.
He adds there has been substantial transactional activity in the far north with the recent sale of the <a target="_blank" href="https://www.propertyobserver.com.au/queensland/five-star-facelift-planned-for-sheraton-mirage-port-douglas/2011072250884">Sheraton Mirage in Port Douglas</a> to David Mariner, plus Wyndham Hotel Group’s acquisition of the Treetops Resort and Spa, also in Port Douglas.
“The general perception seems to be that north Queensland offers significant buying opportunities, with the market showing some signs of recovery.
“With over 100 enquires received on the Hideaway Resorts portfolios, investor perceptions indicate this may well be the case,” Bunz says.
<a target="_blank" href="https://www.propertyobserver.com.au/retail/not-so-perfect-islands-for-sale-in-fnq/2011090751465">Melbourne-based Hideaway Resorts acquired the Beddara Island from Voyages in 2009 for $21.5 million, according to RP Data. Dunk cost $20.5 million.</a>
</body></html>

FNQ islands overcrowded with 100-strong buyer interest

<html><body>
All four major banks say the underlying inflation figure of just 0.3% in the third quarter has increased the prospect of the RBA cutting rates on Melbourne Cup Day.
NAB economist Alan Oster says the bank has changed its rate call and is now anticipating a rate cut next week and another one in February.
The bank had previously forecast no rate cut until November 2012.
However Oster says the rate cuts would not be part of a “cutting cycle”.
Headline inflation for the September quarter came out as expected at 0.6%.
ANZ says the underlying inflation data gives the RBA “the green light to cut next Tuesday”.
Westpac points to the underlying measure and the history of the RBA moving rates every November for the past five years as reasons for a possible Melbourne Cup rate cut.
The bank has forecast a December rate cut since July.
“This trend in inflation also provides further support for our view that this cycle will not be a one-off cut. We have held the view that a total of 100bps will eventually be shaved from the cash rate,” says Westpac chief economist Bill Evans.
Westpac expects the next rate cut after November to be in February.
CBA chief economist Michael Blythe said the chances of a rate cut had stepped up significantly, but was more circumspect.
“Clearly the odds on a rate cut next month have gone up a long way.  But the policy decision is more complicated than just assessing one number.  RBA deputy governor [Ric] Battellino stressed yesterday that the bank looks at a range of indicators when determining the policy stance.  And the key question is whether the economy needs some additional support.”
</body></html>

lschlesinger-FZcF9M3vE6

Now all four big banks see stronger case for Melbourne Cup Day rate cut

<html><body>
NAB has withdrawn an action in the Victorian Supreme Court to force the Victorian sheriff to evict tenants in two Ivanhoe East properties it has repossessed without 28 days’ notice.
A spokesperson for the bank says the court action was only aimed at “clarifying the legal process requirements for repossession” but the bank withdrew the action due to concerns over the “unintended consequences” it may have for tenants. The case, first heard on Monday, was set to resume on Thursday, October 27.
“We recognise and respect the rights of tenants and will always give them a minimum of 28 days’ notice. Often it is much more,” the spokesperson adds.
The action by the bank drew national coverage and a media backlash over concerns that a decision in favour of NAB would allow it and other lenders to evict tenants of properties in which the landlord has defaulted without any notice.
Media coverage of the action labelled the bank “cold-hearted” and “ruthless” in its actions, with reports pointing out it was at odds with its media campaign highlighting efforts to build “honest” relationships with its customers.
Toby Archer, a spokesman for the Tenants Union of Victoria, told Property Observer a ruling in favour of the bank would have led to the scenario where a lender did not have to secure a repossession order from VCAT to evict a tenant.
Archer says the ruling would have meant the bank could literally knock on the door and tell the tenant to get out.
“It’s a horrible proposition for a tenant who is paying rent and is blissfully unaware that the landlord has defaulted and has had their property repossessed,” he says.
</body></html>

NAB withdraws court action to evict tenants of repossessed property

<html><body>
The much-anticipated headline inflation figure for the September quarter has met economists' expectations at 0.6%, but it is the underlying inflation figure of 0.3% whch has made the prospect of a Melbourne Cup Day rate cut more likely. 
The September figure equates to 3.5% through the year to the September quarter 2011, compared with a rise of 3.6% through the year to the June quarter 2011.
Ben Jarman, economist at JP Morgan, says the inflation number is not enough to get the RBA over the line for a rate cut, though it gives the central bank scope to act if things worsen offshore.
But Shane Oliver at AMP Capital suggests the benign September quarter underlying inflation result is consistent with his expectations for a cut in interest rates.
"Today’s CPI figures came in on the low side of expectations which has opened the door for an RBA rate cut next week. The trimmed mean data showed an easing of inflation pressures which now gives the RBA room to move to the downside on Monetary Policy settings, now that they don’t need to be battling inflation like in days gone by," says Tim Waterer, senior FX Dealer at CMC Markets.
ANZ head of Australian economics Ivan Colhoun says the inflation figure suggests the RBA has room to reduce interest rates with the bank expecting to see a 25-basis-point cut in rates on Melbourne Cup day.
HIA senior economist Andrew Harvey says the inflation figure "leaves the RBA with plenty of space to cut rates by the end of this year".
Headline inflation rose 0.9% in the June quarter 2011 (3.6% for the year), compared with a rise of 1.6% in the March quarter 2011 (3.3% for the year.)
The most significant price rises this quarter were for electricity (+7.8%), international holiday travel and accommodation (+5.1%), rents (+1.2%), water and sewerage (+8.6%) and property rates and charges (+5.2%).
The most significant price falls this quarter were for pharmaceutical products (–5.0%), audio, visual and computing equipment (–3.3%), automotive fuel (–1.4%), vegetables (–2.5%), motor vehicles (–1.0%) and fruit (–1.2%).
A survey of 12 economists by AAP accurately forecast headline CPI to have risen by 0.6% in the September quarter and 3.5% in the 12 months to September.
The Commonwealth Bank also accurately forecast a 0.6% increase in headline CPI, with chief economist Michael Blythe noting that the September number had “extra significance” for the RBA in its decision about future interest cuts. 
Blythe also highlighted that the “not-seasonally adjusted CPI will remain the official measure of inflation”. 
The September quarter figure was the first to incorporate revised CPI weights and seasonal adjustment of a larger number of CPI components. Rental payments, household services, health services and education all received a greater weighting in CPI calculations. 
Blythe says changes to the way CPI inflation is calculated will “probably work against a lower inflation trajectory. Better inflation outcomes will rely instead on weaker global and domestic growth actually coming through”.
NAB economists noted the RBA’s acknowledgement that “an improved inflation outlook ‘would increase the scope for monetary policy to provide some support to demand, should that prove necessary’". 
Since 1993, the RBA has set monetary policy to achieve an inflation rate of 2% to 3%, on average over the economic cycle, “a rate of inflation sufficiently low that it does not materially distort economic decisions in the community”.
<img src="/images/stories/inflation.gif">
“The inflation target is also, necessarily, forward-looking. This approach allows a role for monetary policy in dampening the fluctuations in output over the course of the cycle. When aggregate demand in the economy is weak, for example, inflationary pressures are likely to be diminishing and monetary policy can be eased, which will give a short-term stimulus to economic activity,” the RBA explains.



The RBA has kept the cash rate at 4.75% since November 2010.

It will next make a decision about interest rates on Melbourne Cup Day, November 1.
</body></html>

Third-quarter inflation of 0.6% means rates could be cut on Cup Day

<html><body>
Weak sentiment will cause house prices to continue to drift sideways to lower over the coming six to 12 months, according to ANZ, which envisages a rebound in economic growth in 2012 and 2013 to limit the price fallout.
Housing market sentiment continued to soften and prices drifted lower in most capital cities, according to the latest ANZ housing report.
Declining auction clearance rates and rising days on market reflected a mis-match between buyer and vendor expectations.
However, the absence of wide-scale forced selling had, to date, protected measured price outcomes amidst a turbulent global economic environment.
The bank notes Sydney house prices had been the most resilient across the capital cities, with prices edging 0.3% higher over the year to August, compared with a 3.2% decline in the national capital city average.
ANZ suggests flattening employment growth and rising unemployment present clear risks to loan delinquencies and house prices across Australia.
It considers interest rates to be at mildly restrictive levels.
“The housing market has also been hit with a behavioural shift towards increased household caution,” notes Paul Braddick, the bank’s head of property research.
<img src="/images/stories/marketbalance.gif">
Source: ANZ
The report, compiled in conjunction with ANZ economists David Cannington and Dylan Eades, says the combined headwinds had resulted in falls in house prices (-1.9% year on year across capital cities to June 2011) and a decline in new building approvals, which fell 9% in the year to August 2011.
The weak housing market sentiment had also weighed on development activity, with current building approvals equivalent to an annual completions rate of just 143,000, well below the bank’s estimate of underlying housing demand of 190,000 for 2011-12.
But the bank expects the continuing deterioration in the national housing shortage to add further downward pressure on rental vacancies and lead to increased rents.
“Through 2011-12, steady population growth and weak home completions will add further tightness to the housing market,” it says.
“Near record low vacancy rates will eventually drive a renewed acceleration in rents that should encourage investors and first home buyers back into the property market.
“Assuming domestic economic conditions remain stable enough to support household finances, the national housing market should continue to simmer, avoiding the recent boilover experienced by many other developed economies through the global financial crisis,” it notes.
</body></html>

Housing market will continue to soften in next year amid weak sentiment: ANZ

<html><body>
As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
Stockland has lifted some of the current gloom surrounding retail by highlighting that the asset class has proven to be a better investment than both industrial and offices over the last two decades.



Retail property has delivered total returns of 11.9% over the last 10 years while offices have managed 9.4% and industrial 10% over the past 10 years.



The gap in total returns between retail and offices is even wider over a 20-year period, with retail property delivering investors 11.4% growth and offices delivering 7.1%.



Equally noteworthy for commercial investors, retail property returns have been far less volatile than office and industrial property over both the past 10 years and the past 20 years.
<img src="/images/stories/stocklandretail.gif">


Managing director Matthew Quinn told shareholders at the Stockland AGM in Sydney that office and industrial ownership and management “has little synergy” with its other business lines, and did not add to the competitive advantages it had gained in its dealings with government and its broader customer base



The developer will continue to sell office and industrial assets to fund the growth of retail, residential communities and retirement developments and has raised its target of industrial and office sales from an initial range of between $400 million and $500 million to $600 million for the 2012 financial year.



“We are constantly looking for ways to improve our return on funds employed, and selling office and industrial assets is presently a much more cost-effective source of capital than traditional debt or equity, which are likely to remain scarce and expensive for some time to come,” Quinn said.



For the three months to September, Stockland’s portfolio of shopping centres delivered a 3.4% increase on moving annual turnover in the September quarter compared with the previous year.



Quinn called this return a “creditable result, given the current difficult retail environment” reflecting the retail mix in Stockland centres, “which focuses on day-to-day value and convenience, as well as the location of many centres in strongly performing regional locations”.



The developer has three major retail projects underway, including: a $275 million redevelopment of its Merrylands shopping centre in Sydney’s west including the addition of a fresh food precinct and an 800-seat food court; an expansion and redevelopment of its Townsville shopping centre; and a $330 million redevelopment of its Shellharbour shopping centre on the NSW South Coast.



“These projects are all going well, and we expect returns to be in line with or ahead of our feasibilities. We have several other key projects set to commence in the next year or two and we are putting our efforts into achieving development approvals, locking down our construction costs and signing agreements for lease with the major retailers,” Quinn told shareholders.



Stockland has also secured development approvals for the redevelopment of its Green Hills and Wetherill Park shopping centres, “both very highly productive retail assets that are ripe for expansion”.



“While these approvals are a big step forward, we are mindful that many retailers are cautious in their expansion plans and, coupled with the volatility in global financial markets, we don’t plan to start these projects unless we are confident we can achieve returns above our cost of capital and comfortably fund them through to completion,” he said.



“We are also mindful of the potential changes to the retail environment from e-commerce, and we are putting a lot of effort into researching these trends to ensure our centres remain resilient and our development plans appropriate.”

</body></html>

Retail outperformed office and industrial over past decade or two: Stockland

<html><body>
There are three things that drive me – I like to be a lonely voice; I enjoy being a stick in the mud (and grumpy about it); and I am always more interested in what people do than what they say.

This somewhat self-centred introduction is an attempt to explain why I keep banging on about the need to change our urban planning policies in this country.  We need to accept the fact that most don’t want to live in little air-conditioned boxes in the sky.  I am not against high-density development – God knows my business has helped many of them come to fruition; it is just that the argument for anything else is losing its voice.

So, here I am again, shouting out for the detached, the semi-attached and townhouses.

A few years back, the United Nations announced, with much fanfare, an invisible yet momentous milestone – for the first time in history more than half of the world’s human population was now living in urban areas.

This trend helped spark the “triumph of the urban”, and the extolling of the virtues of high-density city living over almost all other dwelling forms.  But such supposed triumph is fraught with ironies, the biggest of which is that rather than a simple rush of people from the hinterland into the high-density city centre – and within almost every urban area (Australia included) in the world – the most significant movement of the population has been outward, from dense city centres into peripheral suburban areas, and beyond them into small, dispersed settlements.

The official geographic boundaries, such as those used by the ABS, cloud these trends, and hence they don’t get the analysis and airplay they deserve.

Our analysis, which we do every second or third year (as it is a very time-consuming exercise), shows that more than half of the new urban development across Australia takes place on the fringe.  This is up from 45% 10 years ago.  Inner city expansion is steady at around 15%, with redevelopment of our middle-ring suburbs falling behind.

Most Australians want to live in a dwelling with a close nexus to the ground.  It is who we are – and most migrating to our shores want the same.  The increase in household size suggests the demand for larger homes will increase and high land costs will force more development outwards.

The urban triumphant like to advocate that detached housing is bad for the environment and the denser living arrangements have less environmental impact.  Yet independent research suggest otherwise.

Our planning schemes are also failing us and in some cases, badly.  Despite grand plans to have most of us live in very dense urban settings, the SEQ regional plan can, at best, only deliver two-thirds of the housing starts it needs on “infill” sites.  Many municipalities across the south-east are struggling to hit the halfway mark.

Recent headlines announced that the balcony was replacing the backyard as the new Australian dream – poppycock.  When you remove Melbourne’s speculative boom in student-sized inner city apartments from the mix, there has been no real change in the proportion of attached dwellings built across the country in close to 20 years.

The vast majority simply cannot afford to live downtown.

It is time to accept the facts – and observe what people actually do and not what the “latte left” and political élites say the public want – and start really planning the redevelopment of our middle-ring suburbs and the continuation (even acceleration) of development on the city-fringe and beyond.

We might need to offer some serious incentives to help kick-start things across our middle suburbs.  This, importantly, involves giving back credence to zonings – redevelopment should not be allowed to be stopped by local action groups if the land is already designated to hold higher density development.

Ironically, the continuing spread of the population could conceivably result in a more equitable and more sustainable pattern of living.  This would definitely be the case if Australian management would join the rest of the world and treat white-collar workers like adults, allowing them to work wherever they wish, as long as they meet their KPIs.  In addition, smaller-scaled energy systems – renewable or not – surely would consume less than the giant grids needed to maintain massive urban landscapes.

In any case, despite all the planning regulations put in place in cities throughout the western world to control (stop) growth at the edge, the periphery continues, inexorably, to expand.

Get over it.  We have far more important battles to fight.

Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a title="Matusik's Missive" target="_blank" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>.
</body></html>

michaelmatusik-49YzLvdmNv

Australians want to move out, not up

<html><body>
The second-in-command at the RBA, Ric Battellino, has delivered a balanced and thoughtful <a href="https://www.rba.gov.au/speeches/2011/sp-dg-251011">speech</a> in which he gives the bank's take on local and global economic developments. I would summarise my analysis of this speech as follows: 1. The RBA's base case is for the global economy – a crucial variable for setting Aussie monetary policy – to grow at a trend pace, with unusually high (but equally unknowable) downside risks at this juncture. 2. However, the RBA is not going to forecast these downside risks, because that's an impossible task. It will watch and wait for the world to confirm what is actually going to happen. 3. The central story around the Aussie economy remains intact in terms of the secular private investment boom. The floods combined with sundry offshore crises temporarily knocked the local economy off balance during the first half of 2011. Subject to the aforementioned global risks, the future should not be radically different to what the RBA previously expected, which, I suspect, means a forecast for gradually rising core inflation with the path determined by today’s third-quarter CPI combined with previous revisions. 4. The Aussie economy is, as I have argued here before, already getting the benefit of "notable" stimulation via reductions in fixed-rate loans to 6.3% or less, reductions in variable rate loans (by 10 to 15 basis points), and a depreciation in the currency from its USD1.10 highs. 5. As my CPI preview anticipated, everything really hinges on the third-quarter numbers and what this tells the RBA about the pulse of inflation. A very low number (similar to what New Zealand got yesterday, which is typically well-correlated with the Aussie results) would allow the RBA to pull down its inflation forecasts to 2013 to within the target 2% to 3% per aannum band, albeit on a still rising trajectory (perhaps it would keep a 3-handle in 2013). 6. To one school of thought, this would in turn enable the RBA to make a once-off technical adjustment to the cash rate to bring it back to "neutral" at the November board meeting. Complicating this decision is the fact that a lot of the recent data flow has been very healthy, and an inflation-targeting central bank would not ordinarily mind having a "mildly restrictive" rate setting given its longer-term view of the world (and the fact that rate changes today target prices over a two-year horizon). I would venture that any technical adjustment is going to be much more motivated by tactical and political considerations (mainly building up long-term goodwill for when the real inflation battle begins); 7. The argument against a technical adjustment is that it is not going to make a big difference to anything (ie, one 25bps move), it is not going to be passed on fully by the banks (thus we are probably only talking about 15-20bps), and the RBA may look very silly if Q4 core prints high, which is a risk, and it needs to start bumping rates back up again. The bottom line is that as Battellino notes, monetary policy remains extremely complex, and he and RBA governor Glenn Stevens are earning every dollar of their way-below-major-bank-standard pay packets (i.e., for a top 15 major bank executive). To be clear, Battellino is not preparing the market for cuts in particular. He is seeking to give the RBA as much room to move as possible. Right now, flexibility is the name of the game. The RBA board members don't want to look like idiots irrespective of whether they have to cut, hold, or, heaven forbid, hike.
Christopher Joye is a leading financial economist. The above article is not investment advice.
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News