Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

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>
Middleton Grange has had the biggest housing stock decline in New South Wales, according to Investar’s latest report.
The property data firm says that housing stock in Middleton Grange has fallen by 71 percent from a year ago.
This is followed by Burradoo with a 63 percent decline in stock and Stanhope Gardens 62 percent down.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="106">
Suburb
</td>
<td valign="top" width="106">
Postcode
</td>
<td valign="top" width="106">
Median price
</td>
<td valign="top" width="106">Current sales stock</td>
<td valign="top" width="106">
Sales stock 1 year ago
</td>
<td valign="top" width="106">
Sales stock decline
</td>
</tr>
<tr>
<td valign="top" width="106">
Middleton Grange
</td>
<td valign="top" width="106">
2171
</td>
<td valign="top" width="106">
$797,000
</td>
<td valign="top" width="106">30</td>
<td valign="top" width="106">
106
</td>
<td valign="top" width="106">
71%
</td>
</tr>
<tr>
<td valign="top" width="106">
Burradoo
</td>
<td valign="top" width="106">
2576
</td>
<td valign="top" width="106">
$1,490,000
</td>
<td valign="top" width="106">22</td>
<td valign="top" width="106">
61
</td>
<td valign="top" width="106">
63%
</td>
</tr>
<tr>
<td valign="top" width="106">
Stanhope Gardens
</td>
<td valign="top" width="106">
2768
</td>
<td valign="top" width="106">
$840,000
</td>
<td valign="top" width="106">20</td>
<td valign="top" width="106">
54
</td>
<td valign="top" width="106">
62%
</td>
</tr>
<tr>
<td valign="top" width="106">
Smithfield
</td>
<td valign="top" width="106">
2164
</td>
<td valign="top" width="106">
$749,000
</td>
<td valign="top" width="106">21</td>
<td valign="top" width="106">
52
</td>
<td valign="top" width="106">
59%
</td>
</tr>
<tr>
<td valign="top" width="106">
Cambridge Park
</td>
<td valign="top" width="106">
2747
</td>
<td valign="top" width="106">
$560,000
</td>
<td valign="top" width="106">22</td>
<td valign="top" width="106">
52
</td>
<td valign="top" width="106">
57%
</td>
</tr>
<tr>
<td valign="top" width="106">
Fairfield West
</td>
<td valign="top" width="106">
2165
</td>
<td valign="top" width="106">
$697,000
</td>
<td valign="top" width="106">20</td>
<td valign="top" width="106">
47
</td>
<td valign="top" width="106">
57%
</td>
</tr>
<tr>
<td valign="top" width="106">
Kellyville Ridge
</td>
<td valign="top" width="106">
2155
</td>
<td valign="top" width="106">
$940,000
</td>
<td valign="top" width="106">20</td>
<td valign="top" width="106">
46
</td>
<td valign="top" width="106">
56%
</td>
</tr>
<tr>
<td valign="top" width="106">
Castle Hill
</td>
<td valign="top" width="106">
2154
</td>
<td valign="top" width="106">
$1,350,000
</td>
<td valign="top" width="106">56</td>
<td valign="top" width="106">
128
</td>
<td valign="top" width="106">
56%
</td>
</tr>
<tr>
<td valign="top" width="106">
Condell Park
</td>
<td valign="top" width="106">
2200
</td>
<td valign="top" width="106">
$844,500
</td>
<td valign="top" width="106">18</td>
<td valign="top" width="106">
41
</td>
<td valign="top" width="106">
56%
</td>
</tr>
<tr>
<td valign="top" width="106">
Tura Beach
</td>
<td valign="top" width="106">
2548
</td>
<td valign="top" width="106">
$489,000
</td>
<td valign="top" width="106">41</td>
<td valign="top" width="106">
92
</td>
<td valign="top" width="106">
55%
</td>
</tr>
</tbody></table>
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-middleton+grange-124615266" target="_blank">107 Robey Avenue</a>, Middleton Grange (above) has been listed for sale.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-middleton+grange-124347794" target="_blank">173 Middleton Drive</a>, Middleton Grange (below) has been recently sold for $780,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/1/173%20Middleton%20Drive.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-middleton+grange-123503734" target="_blank">4 Elevon Street</a>, Middleton Grange (below) has been sold for $790,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/1/4%20Elevon%20Street.jpg" alt="">
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-middleton+grange-124502198" target="_blank">24 Stanley Avenue</a>, Middleton Grange (below) was recently sold for $725,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/15/24%20Stanley%20Avenue.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-burradoo-124982886" target="_blank">3 Moyne Close</a>, Burradoo (below) has been listed for between $1.3 million to $1.43 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/15/3%20Moyne%20Close.jpg" alt="">
A five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-burradoo-123905358" target="_blank">22 Charlotte Street</a>, Burradoo (below) was recently sold for $1.37 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/15/22%20Charlotte%20Street.jpg" alt="">
 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Middleton Grange scores highest housing stock decrease in New South Wales: Investar

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Average sales turnover has declined slightly over the 12 months to December 2016, according to JLL’s latest retail report.
This annual report highlights the retail market industry and the views of retail centres managers view points on how the retail industry is doing.
Turnover in sub-regional centres declined by 0.3% although specialty turnover improved marginally by 0.4%.
The continued poor performance of discount department stores (Kmart being the exception) has impacted sub-regional centre sales.
This is reflected in recent results for the first half of the 2016-17 financial year compared with the corresponding period the previous year:
<ul>
<li>Big W comparable store sales declined by 6.3%;</li>
<li>Target comparable store sales declined by 18.2%;</li>
<li>Kmart comparable store sales increased by 5.7%;</li>
<li>Coles food &amp; liquor comparable sales increased by 1.3%;</li>
<li>Woolworths comparable store sales increased by 1.9%.</li>
</ul>
Vacancy rates in sub-regional centres were also higher in 2016 than in 2015 despite improvement in the second half.
This may have had a slight negative impact on performance during 2016.
Annual neighbourhood centre sales declined by 1.3%.
While competition between supermarkets has been particularly strong and was often noted as a concern by Centre Managers, some centres have seen a range of non-retail services such as medical centres, financial services and travel agencies that do not report sales replace retail stores.
This change in tenancy mix may have impacted overall turnover but may have been a positive for the centre in terms of providing the services customers want at their local centre.
<a href="https://www.propertyobserver.com.au/images/2017/03/28/Screen%20Shot%202017-03-28%20at%2010.48.02%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/28/Screen%20Shot%202017-03-28%20at%2010.48.02%20am.jpg" alt="">
Retail trade across Australia grew by a modest 3.5% in 2016.
When new centre openings, expansions of existing centres and the continued expansion of global retailers such as Costco, ALDI and fast fashion labels is taken into account, competition for the retail dollar is very strong.
The key area of weakness has been department stores, which managed growth of just 0.6% in 2016.
Discounting amongst supermarkets has kept growth in the supermarket sector to a low 2.6% in 2016, despite relatively strong growth in new supermarkets as the major players fight for market share.
The level of new supply across the neighbourhood, sub-regional and regional centre markets of Australia’s major capital cities was relatively high in 2016 at 347,000sqm.
Even more supply is in the short-term pipeline, with completions expected to peak in 2017 at 416,000sqm.
This will serve to heighten competition in the retail sector.
<a href="https://www.propertyobserver.com.au/images/2017/03/28/Figure%202.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/28/Figure%202.jpg" alt="">
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Average retail sales turnover declines slightly over past year: JLL

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A new two-level David Jones store is one of the headline attractions of the recently opened Macarthur Square shopping complex redevelopment.
Commenced in 2015, the $240 million project in south-west Sydney’s Campbelltown also includes international retailer H&amp;M, a new look Coles, fresh food market hall, more than 40 new specialty stores, an alfresco and casual dining precinct, along with 500 additional car spaces.
The Lendlease-managed centre is jointly owned by Australian Prime Property Fund Retail (APPF Retail) and the GPT Wholesale Shopping Centre Fund.
The redevelopment increases the centre’s  gross lettable area (GLA) from 94,300 square metres to approximately 107,000 square metres.
Gary Horwitz, head of retail at Lendlease, said the redevelopment is a response to the changing nature of shopping centres.
“Our customers have told us they want to visit a world class shopping centre without having to travel to the city,” he said.
“The redevelopment of Macarthur Square has allowed us to grow with the region and adapt to the changing demographics and needs of our local customers, ultimately delivering an outstanding, all-encompassing, and sustainable retail experience.
“The centre’s design and retail mix reflects the natural environment and tastes of the region, while customer aspirations are brought to life with an exciting range of popular fashion brands anchored by David Jones and H&amp;M.”
</body></html>

Macarthur Square shopping centre unveils $240 million redevelopment

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Brisbane property sale numbers have increased slightly in the past three months and sales figures have significantly increased, according to research from CoreLogic’s Brisbane Fringe Cityscope.
The property data firm says that the last three months to the beginning of February 2017 recorded 37 sales for a total of $313.1 million.
This consists of $262.6 million for commercial, $3 million for commercial strata, $3.5 million for retail, $7.4 million for retail strata and $36.7 million for other.
In comparison, the last three months to the beginning of November 2016 recorded 31 sales for a total of $88.8 million.
This consists of $4.6 million for commercial, $9.9 million for commercial strata, $1.6 million for retail, $66.9 million for retail strata and $5.8 million for other.
The 12 months leading up to early February 2017 recorded 128 sales for a total of more than $728.2 million, over $80 million more than the same time last year.
The table below shows sales recorded for the past eight updates of Brisbane Fringe Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/02/15/Corelogic-5.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/15/Corelogic-5.jpeg" alt="">
Together the top sales recorded this quarter total over $181 million, these sales include:
<ul>
<li>Kings Row Office Park, 40-52 McDougall Street, Milton, comprising multiple office buildings between two and six storeys and over 400 car parks, was bought for $94.9 million by Shayher Alliance Pty Limited. The buildings were constructed between 1989 and 1996. Anthony Ott and Peter Chapple of Savills Brisbane negotiated the sale.</li>
<li>33 Park Road, Milton, a four-storey office building, was sold with a residential building at 14 Gordon Street (not covered by Cityscope) for $48.2 million to Wholesale Australian Property Fund. The sale represented an initial yield of 7.37% on passing income of over $3.55 million. Peter Court and Mike Walsh from JLL Brisbane sold the property in conjunction with Seb Turnbull and Luke Billiau of CBRE Brisbane.</li>
<li>200 Creek Street, formerly known as Medtronic House, a 10-storey office building with basement car parking, sold in January 2017 for $38.7 million to Sentinel Regional Office Trust. The sale represented an initial yield of 9.58% on passing income of over $3.7 million. Luke Billiau and Seb Turnbull of JLL Brisbane sold the property in conjunction with Peter Court and Mike Walsh from JLL Brisbane.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/02/15/Corelogic-6.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/15/Corelogic-6.jpeg" alt="">
Properties for sale include:
<ul>
<li>337 Water Street, Fortitude Valley – a two-storey, 320 square metre office building with six car parks. For sale with an asking price of $1.65 million; agent, Cushman &amp; Wakefield Brisbane (Sam Callanan and Michael Gard).</li>
<li>12 Cribb Street, Milton – a five-storey office building with basement car parking. For sale by expressions of interest; agents, Savills Brisbane (Peter Chapple and Nick Russell) and JLL Brisbane (Christian Sandstrom and Sam Bryne). The property was initially advertised with an approximate fully leased income of over $1.55 million net (as at December 1, 2016)</li>
<li>John Oxley Centre, 337A Coronation Drive, Milton – a U-shaped building with five storeys of offices and two levels of basement car parking for 319 vehicles. For sale by expressions of interest; agents, JLL Brisbane (Seb Turnbull and Geoff McIntyre) and CBRE Brisbane (Bruce Baker and Flint Davidson).</li>
</ul>
Properties under contract (conditional or unconditional) include:
<ul>
<li>Green Square South Tower, 505 St Pauls Terrace, Fortitude Valley – a four-storey building with ground floor retail space and upper level office space. Due diligence is being conducted by AXA Investments Managers; agents, Colliers International Brisbane (Tom Barr and Don MacKenzie) and Colliers International Melbourne (John Marasco).</li>
<li>164 Wharf Street, Spring Hill – a three-level office building comprising two levels of offices above ground floor car parking. Under conditional contract; agent, Savills Brisbane (Jack Morrison and Nick Russell).</li>
<li>100 McLachlan Street, Fortitude Valley – a four-storey commercial building completed in late 2013 as stage 3 of the M&amp;A development. Under contract for $30 million to an offshore purchaser; agent, Cushman &amp; Wakefield (Nick Spiro). The sale represented a yield of 6%.</li>
</ul>
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Brisbane commercial property sales on the rise in 2017: Cityscope

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Celebrity chef Jamie Oliver has purchased six Jamie’s Italian Australian restaurants from Keystone Hospitality Group and will travel to Sydney in May to meet suppliers and launch a new menu.
According to a report in the Daily Telegraph, Jamie Oliver said its a happy ending for the restaurant portfolio.
“This is a process that I’ve never been through so it’s all very new, but it’s a really happy ending," he said.
"I wish I could have done it sooner but we got there and it’s safe to say that every cloud has a silver lining."
"I am glad the buyout of the six restaurants, which were sold for an undisclosed sum, had gone smoothly and am looking forward to arriving in Sydney on May 8.
“I believe in Australia and I’m invested in it in so many ways. I can’t wait to get over there,” he said.
The six restaurants were put on the market in July 2016 when owner <a href="/expert-insights/investing/keystone-selling-all-jamies-italian-in-one-line">Keystone Hospitality Group was placed into receivership</a>.
 
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jchancellor-FAypfDUnLy

Celebrity chef Jamie Oliver buys back restaurants from Keystone Hospitality Group

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Melbourne’s Little Lonsdale Street has set a cracking pace for the CBD’s 2017 investment statistics, with two key sales and a major listing.
563-567 Little Lonsdale Street (below) recently sold at auction for $6.63million ($19,776 per sqm) which was quickly followed by 361-365 Little Lonsdale Street (above), which sold off-market.
Colliers International’s David Sia, Oliver Hay and Daniel Wolman brokered the deal for 361-365 Little Lonsdale at $11.125million, a land rate of $18,480 per sqm, on behalf of a Hong Kong vendor.
David Sia said a private Malaysian investor purchased the leased property at a yield of 1.6 percent.
“The sale was indicaticative of long-term holders seizing the premium values achievable in the current commercial climate,” he said.
Both 563-567 and 361-365 Little Lonsdale are zoned Capital City 1 and have substantial development upside, Sia said.
Colliers International listed 102 Little Lonsdale earlier this month, a history-rich 1894 property (below) with boutique office potential.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/29/102%20Little%20Lonsdale%20Street%20Melbourne.jpg" alt="">
“This iconic residence is a premium chance to secure a truly one-of-a-kind CBD asset,” Mr Hay said.
“Each sale is indicative of a bullish market, confident in the consistent value-drivers of underlying CBD real estate,” he said.
102 Little Lonsdale Street will go to auction on April 19 at 1pm on site.
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Little Lonsdale off to big start

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Symond Arcade, on Churchill Street, named after the father of Aussie Home loans founder John Symond – who built it – has sold to a private investor for $30 million or so.
Whispers suggests it could have gone as higher.
The <a href="https://www.commercialrealestate.com.au/property/12-14-churchill-avenue-strathfield-nsw-2135-2013436106">arcade</a> is located directly next to Strathfield Plaza.
The block of 12 shops and 14 offices next to Strathfield Plaza had been scheduled to go to auction on Tuesday.
But it was pulled at the last minute when the Freyer family accepted an offer – understood to be well over the $25 million reserve price.
It sold far in excess of that, so the owners were happy, listing agent Robert Pignataro of Strathfield Partners said.
Robert said the 3 per cent yield represented by the sale price was typical of yields in the Strathfield area, where retail investments were usually between 3 and 4 per cent.
The property currently has a net rental income of about $918,691, with tenants responsible for all outgoings.
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Strathfield's Symond Arcade sold for $30 million plus

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Autobarn is set to join the line-up of retailers at the Millers Junction precinct in Altona North after securing a showroom for $2.36 million.
Located at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-altona+north-501461087" target="_blank">302-330 Millers Road</a>, Millers Junction is a mixed use development comprising large format retail, commercial space and grocery, food and beverage outlets.
CBRE’s Chris Parry negotiated the sale of the 700 square metre showroom, which forms part of the development’s second stage.
It will feature 74 architecturally designed units consisting of office warehouses, showrooms, plus food and beverage space.
Stage one of the development comprises a fully leased large format retail centre, including retailers such as Bunnings, JH Hi-Fi, ALDI, Officeworks, PETstock and Repco.
Parry said the sale highlighted Millers Junction’s increasing appeal as a sought after retail hub in Melbourne’s west.
“Millers Junction showcases the maturing market in Melbourne’s western suburbs, with the region’s strongly growing population supporting the development of additional and more sophisticated retail, employment and lifestyle precincts,” he said.
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Autobarn drives into Millers Junction with $2.36 million showroom purchase

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There is a shortage of rental units available relative to demand in Coffs Harbour, according to Herron Todd White’s latest report.
The property valuation firm says that Coffs Harbour has a steady rental vacancy trend with a strong demand for new units.
<a href="https://www.propertyobserver.com.au/images/2017/02/10/Screen%20Shot%202017-02-10%20at%201.13.06%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/10/Screen%20Shot%202017-02-10%20at%201.13.06%20pm.jpg" alt="">
This is supported by an increasing trend in new units being constructed as well as a steady volume of unit sales.
Coffs Harbour unit market is at its peak and new properties are occasionally being sold at prices that exceed their potential resale value.
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-coffs+harbour-418533814" target="_blank">13/27 Victoria Street</a>, Coffs Harbour (above) is available for rent for $255 per week.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-coffs+harbour-407605913" target="_blank">1/8 Toormina Place</a>, Coffs Harbour (below) is available for rent for $295 per week.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/21/1_8%20Toormina%20Place.jpg" alt="">
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-coffs+harbour-124804886" target="_blank">5/32 Karuah Avenue</a>, Coffs Harbour (below) has been listed for $285,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/28/5_32%20Karuah%20Avenue.jpg" alt="">
Similarly a two bedroom unit at<a href="https://www.realestate.com.au/property-unit-nsw-coffs+harbour-124994266" target="_blank"> 1/39 York Street</a>, Coffs Harbour (below) has been listed for $230,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/28/1_39%20York%20Street.jpg" alt="">
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Coffs Harbour experiences shortage of units as demand increases: HTW

<html><body>
Hotels are hot property for investors at the moment, outperforming all other property classes in Australia, says a recent report by Savills.
With international and domestic visitors growing 11.5 percent and 5 percent respectively in CY 2016, the hotel industry has not seen growth at this level since the Sydney 2000 Olympics, according to Savills Australia’s Hotels market report. 
Sydney and Melbourne are the standout performers, with their strong market KPI’s against a backdrop of compressing yields.
Chinese tourists take the lead in international visitors, growing at 22 percent, helped by more flights between the two countries and a relatively low Australian dollar making the country a more affordable destination, says Michael Simpson, Savills managing director of Hotels. 
“In a very positive sign for the depth of the market, the outstanding international inbound growth has been experienced across a wide range of markets, with inbound visitor growth from many established Asian markets, as well as the US, above 15 percent,” said Simpson.
In further proof of the strength of the market, Tourism Research Australia’s 10-year forecast expects international visitor nights and domestic visitor nights to grow at 5.6 percent and 3.1 percent annually respectively. Australia can expect to see increased room night demand nationally for the foreseeable future.
The Australia-wide market achieved a ‘revenue per available room’ (RevPAR) for CY 2016 of $139, which represented YOY growth of 2.2 percent.
All Australian cities posted RevPAR growth except Perth, Brisbane and Darwin with RevPAR declining in those cities by 9.3 percent, 8.7 percent and 9.6 percent respectively. The decline in performance of these markets is primarily due to the impact of the end of Australia’s resource boom, and rise in room supply.
For the remaining markets, Savills says growth in market KPI’s can be attributed to an increase in leisure demand from domestic and international markets, stimulated by a lower Australian dollar and stronger economic activity underpinned by construction and infrastructure projects.
<a href="https://www.propertyobserver.com.au/images/2017/03/28/SavillsHotels.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/28/SavillsHotels.png" alt="">
China is the engine room for visitor night growth in Australia right now, says Simpson. 
Australia received more than 7.4 million international visitors (up 11.5 percent) and 251 million international visitor nights (up 3.8 percent) for the year ended September 30, 2016.
Tourism Research Australia recently released international visitor numbers for CY 2016 which totalled 8.3 million, representing a healthy year-on-year (YOY) growth of 11 percent. 
The New Zealand market continues to contribute the highest number of visitors to Australia. However, the China visitor market recorded YOY growth of 21.9 percent, enabling it to exceed 1 million visitors, who more importantly spend an average of 40 nights in Australia when touring Down Under. 
As a result, China produced 43 million room nights representing almost three times the volume produced by New Zealand. The Chinese visitors also tend to spend more per capita compared to other visitors.
<a href="https://www.propertyobserver.com.au/images/2017/03/28/SavillsHotelDeals.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/28/SavillsHotelDeals.png" alt="">
Simpson went on to say that Sydney’s strong performance is set to continue with occupancies reaching capacity during peak holiday and corporate activity periods, providing the opportunity for hoteliers to grow ADR.
“Sydney’s Luxury segment capitalised on the strength of the market achieving an occupancy of 85.9%, and ADR of $339 (up 7 percent), delivering a RevPAR of $291 (up 5.7 percent), which exceeded Melbourne’s Luxury segment RevPAR of $271.
“The key factors underpinning Sydney’s current and expected future performance are a combination of buoyant economic metrics, strength in banking, finance, insurance, professional services and construction/ infrastructure projects, which are collectively fuelling a tsunami of economic activity and room night demand in Sydney.
“For the next 10 years, Sydney occupancy will remain in the 80th percentile,” said Simpson.
Melbourne was the second highest performing market in CY 2016 with an increase in occupancy for the fourth consecutive year. Conversely, Average Daily Rate (ADR) declined marginally, suggesting that while occupancy remained strong, hoteliers were unable to grow rate during non-peak periods. As a result RevPAR remained relatively stable in CY 2016, when compared to CY 2015.
Simpson said the inability to significantly grow ADR in CY 2016 is also demonstrated by Melbourne’s Luxury segment which reflected steady YOY market KPI’s, achieving an occupancy of 89.5 percent, ADR of $302 and delivering a static RevPAR of $271.
“Melbourne’s construction boom of residential apartments, commercial space and continuing development of Docklands, has also encompassed new hotel development,” he said.
“Despite the strength and enduring nature of Melbourne’s events calendar and symbiotic corporate activity Melbourne enjoys with Sydney, we anticipate that Melbourne market KPI’s will be under pressure to match Sydney’s performance in coming years given the relative challenge of delivering new supply in Sydney.” 
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