Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.

Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.

The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.

<a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.

The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.

The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" />

Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.

The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.

The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.

The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.

Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" />

The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.

Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.

Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.

The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" />

Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.

The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.

Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.

The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.

The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history

Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.

55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.

The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.

[smartcode_project:default project_id=152579 project_image_fid=376250]

55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.

Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.

The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.

[smartcode_project:default project_id=152579 project_image_fid=376253]

At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.

The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.

A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.

Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.

&nbsp;

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The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.

Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.

“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.

55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.

Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.

[smartcode_project:default project_id=152579 project_image_fid=376252]

Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.

The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.

55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.

[smartcode_project_cta:default project_id=152579]

Fortis continues eastern suburbs push with 55 William launch

UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.

Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.

The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.

It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.

Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.

A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.

The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.

It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.

Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.

“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.

“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”

Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.

“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”

The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.

Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.

The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.

Arada plots $2 billion Broadbeach towers in major Queensland move

Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.

Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.

Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.

“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.

“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”

It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.

[smartcode_project:default project_id=135149 project_image_fid=377495]

For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.

Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.

Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.

[smartcode_project:default project_id=135149 project_image_fid=377494]

“These buyers still want their home to feel generous,” Porter says.

“They may want less maintenance, but they are not looking for less life.”

The challenge for the broader housing market is providing enough of the right stock to encourage that move.

While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.

Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.

“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.

“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”

It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.

<h2>Lillian targets the next stage of apartment buyer</h2>

It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.

Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.

The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.

[smartcode_project:default project_id=135149 project_image_fid=377688]

McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.

For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.

“People should be able to change the type of home they live in without having to change their entire life,” he says.

“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”

[smartcode_project:default project_id=135149 project_image_fid=377687]

Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.

Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.

Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.

[smartcode_project_cta:default project_id=135149]

From downsizing to right-sizing: What Sydney buyers want from their next home

Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

The Maybelle brings 27-storey parkside tower to market near North Strathfield

Brisbane

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The Alderley, Brisbane home of jeweller Jenny McLaurie is for sale.
It is a Richard Lonn-designed property, set in an elevated position with views across the rooftops to the city skyline.
<a href="https://www.realestate.com.au/property-house-qld-alderley-124420702" target="_blank">The five-bedroom, three-bathroom house</a> occupies a 794 square metre block with the key living areas and master bedroom on the top floor.
Canda Reynolds of McGrath Paddington will take the three level home to February 4 auction. It last traded in 2012 at $1.957 million, having been built in 2008.
Buyers have been advised recent comparable sales included 30 Wellbeck Street, which sold for $2.5 million last June.
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Richard Lonn-designed Aderley jewel listed for auction

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<div id="post-body-8331073014349855294" class="post-body entry-content">
<div>One should typically expect to see vacancy rates rise in December and January, and nationally vacancy rates were up to 2.8 per cent before Christmas according to SQM Research. </div>
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<div>The increase was largely driven by Brisbane, which jumped to 3.7 percent.  </div>
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 <div>As these numbers aren't seasonally adjusted it's technically 'chart crime' to smooth them over a few months, but nevertheless this can help to give a sense of the trend. </div>
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<div><a href="https://www.propertyobserver.com.au/images/2017/01/17/VR2.jpg" target="_blank">Click to enlarge</a></div>
 <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/2017/01/17/VR2.jpg" alt=""> <div>We expect to see seasonal spikes in vacancy rates in suburbs such as Indro, Toowong, and perhaps Milton, at least in part because there are fewer students around over the summer break. </div>
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<div>The tasty action is happening in the construction hubs such as the Valley and Newstead...</div>
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<div>Source: SQM Research</div>
 <div>And especially South Brisbane and West End, though the student effect is a part of this December jump too.</div>
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 <div>Source: SQM Research</div>
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<div>The trend is not the landlord's friend in these areas, with several thousand more inner city apartment completions expected to come onstream before the end of June. </div>
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<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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Where Brisbane landords face rental challenges in 2017: Pete Wargent

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Brisbane’s outer suburb Deagon has a median value for a unit of $128,644.
But around 10 chances to buy arose.
Deagon — postcode 4017 — had the lowest value in the top 10 list of lowest median values for units, according to housing analytics firm CoreLogic’s Best of the Best 2016 report. 
The suburb had a population of 33,565, according to ABS Census Data 2011 and units comprised around 6 percent of the total dwellings. 
The second position was also from Queensland — South Stradbroke from the Gold Coast with a median price of $131,912, while the third spot was taken by Elizabeth Vale in Playford, Adelaide. The median value here was $133,226.
<img src="https://www.urban.com.au/images/2017/01/11/Brisbane-DeagonTable.png" alt="">
Property Observer found a one-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-deagon-122517590" target="_blank">3/126 Board Street, </a><a href="https://www.realestate.com.au/sold/property-unit-qld-deagon-122517590" target="_blank">Deagon, Qld 4017</a> (above) that sold in June 2016 for $127,500. The unit was sold through Furtado Property.
Another one-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-deagon-124033414" target="_blank">83/126 Board Street, Deagon, Qld 4017</a> exchanged hands for $128,000, very close to the median price, in December 2016. The selling agent was again Furtado Property.
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Brisbane's Deagon ranks as cheapest place in Australia to buy a unit: CoreLogic data

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Analysis of RLB's crane index shows about 57 per cent of cranes across Brisbane's skyline are located inside areas flagged by lenders as problem spots with restricted lending.
Nationally some 239 cranes in Sydney, Melbourne, Brisbane, Perth, Gold Coast and Adelaide are within city postcodes that have been marked out by National Australia Bank and AMP where buyers may, if finance is forthcoming, then have to come up with 10% to 20% more equity on settlement.
The apartment settlement risks rise as the off the plan buyers didn't expect and can't match this financing requirement.
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Around 38 percent of the cranes building Australia's apartments due for completion in the next two years sit in the postcodes currently known to have been "blacklisted" by lenders.
Sydney and Melbourne have the lowest proportion of cranes in "blacklist" areas, at about 32 per cent each. 
In Sydney, where nearly 85 per cent of its cranes were employed on residential projects, the suburbs deemed risky by lenders were spread in a ring stretching from Hurstville in the south through Auburn and Parramatta in the inner west to Epping and Chatswood on the north shore.
Brisbane, with nearly 57 per cent of all cranes located in problem postcodes, ranks the highest ratio of all the cities especially in the north-south spine that includes the Newstead, Fortitude Valley and West End areas.
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RLB compared the postcodes of individual crane locations with suburbs singled out by lenders for being riskier places to lend.  
Sydney cranes
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<img src="https://www.afr.com/content/dam/images/g/t/g/q/p/4/image.imgtype.afrArticleInline.620x0.png/1483530138193.jpg" alt="Intensity of Sydney's cranes: the spread beyond NAB's problematic areas, shaded in purple, suggests the apartment ..." width="620" data-src="/content/dam/images/g/t/g/q/p/4/image.imgtype.afrArticleInline.620x0.png/1483530138193.jpg"><cite> </cite>
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<div>
JLL's national director for Residential Development Valuations &amp; Advisory, Troy Linnane, told The Australian Financial Review that depending on project type, developer and location new apartments sold off the plan late in the cycle had a "higher risk of capital value depreciation".
"These apartments were/are being sold at higher rates per metre due to increases in cost of sale such as agents' commissions, marketing costs, incentives and higher construction costs," Mr Linnane said. "But there are projects and there are projects – so this would not necessarily apply to all, so it does depend on the project – quality and standard of amenity."
Melbourne cranes
<img src="https://www.afr.com/content/dam/images/g/t/g/q/p/1/image.imgtype.afrArticleInline.620x0.png/1483530138295.jpg" alt="Inner Melbourne also shows high numbers of cranes in areas highlighted by NAB (purple) and AMP (blue) but there is a ..." width="620" data-src="/content/dam/images/g/t/g/q/p/1/image.imgtype.afrArticleInline.620x0.png/1483530138295.jpg">
Inner Melbourne also shows high numbers of cranes in areas highlighted by NAB (purple) and AMP (blue) but there is a majority outside those postcodes.<cite> </cite>
</div>
<div>
"This level of activity and balancing of risk seems to suggest a responsible and sustainable market for the foreseeable future," RLB director of research and development Stephen Ballesty told The Australian Financial Review.
It was noted NAB and AMP together accounted for just under 15 per cent of Australia's total owner-occupier loans and 19 per cent of property loans to investors in October, figures from regulator APRA show.
The banks also have changing lending criteria, their conditions and credit practices change frequently and the timing of projects as well as cycle of the geographic and demographic markets in which they operate mean their risk profiles vary.
The latest report showed the individual crane counts in Brisbane and Melbourne – the two cities most at risk of an oversupply of apartments – falling from the prior count in March.
Brisbane cranes
</div>
<div><img src="https://www.afr.com/content/dam/images/g/t/g/q/p/8/image.imgtype.afrArticleInline.620x0.png/1483530138015.jpg" alt="Much of Brisbane's crane development is focused in the city, coinciding with areas of concern for lenders." width="620" data-src="/content/dam/images/g/t/g/q/p/8/image.imgtype.afrArticleInline.620x0.png/1483530138015.jpg"></div>
<div> </div>
<div>Much of Brisbane's crane development is focused in the city, coinciding with areas of concern for lenders.</div>
<div>
"It could be that there has been increased investor activity in Brisbane due to the current differential between residential prices particularly when compared to Sydney," Mr Ballesty said.
Perth cranes
</div>
<div><img src="https://www.afr.com/content/dam/images/g/t/g/q/p/7/image.imgtype.afrArticleInline.620x0.png/1483530138107.jpg" alt="Just over half of Perth's cranes are in areas of concern for NAB (purple)." width="620" data-src="/content/dam/images/g/t/g/q/p/7/image.imgtype.afrArticleInline.620x0.png/1483530138107.jpg"></div>
<div> </div>
<div>Just over half of Perth's cranes are in areas of concern for NAB (purple).<cite> </cite>
</div>
<div> </div>
<div>Adelaide cranes</div>
<div>
<img src="https://www.afr.com/content/dam/images/g/t/g/q/o/p/image.imgtype.afrArticleInline.620x0.png/1483530138468.jpg" alt="Just over half of Adelaide's cranes are in areas of concern for NAB (purple) as well. " width="620" data-src="/content/dam/images/g/t/g/q/o/p/image.imgtype.afrArticleInline.620x0.png/1483530138468.jpg">
</div>
<div> </div>
<div>Just over half of Adelaide's cranes are in areas of concern for NAB (purple) as well.<cite> </cite>
</div>
<div>
Just over half of Perth's cranes were in areas of concern, which included the CBD and city fringe. It was a similar in Adelaide.
Gold Coast had a low proportion of cranes in areas of concern.
Gold Coast cranes
</div>
<div><img src="https://www.afr.com/content/dam/images/g/t/g/q/o/w/image.imgtype.afrArticleInline.620x0.png/1483530138375.jpg" alt="In Gold Coast, the proportion of cranes in 'blacklist' areas is still small. " width="620" data-src="/content/dam/images/g/t/g/q/o/w/image.imgtype.afrArticleInline.620x0.png/1483530138375.jpg"></div>
<div> </div>
<div>In Gold Coast, the proportion of cranes in 'blacklist' areas is still small. <cite> </cite>
</div>
</div>
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jchancellor-FAypfDUnLy

57% of Brisbane cranes in lender blacklist problem areas

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A buyer has purchased $14 million worth of property in a single transaction at Kokoda Property’s $119 million Ella development in Newstead, Brisbane.
The project's launch saw more than $22 million in sales transacted.
The $14 million buyer purchased a complete floor, plus three additional apartments on a separate level.
<img src="/images/2016/12/16/V25_Ella_Hero%20Exterior_.jpg" alt="">
Kokoda Property has experienced market buoyancy in recent months, fast-tracking the release of the second stage, Ella, after demand started to soar and the first building, Chester achieved 135 sales totalling approximately $95 million in just seven weeks. 
Chester was recently named the second best performing project in Brisbane in the last quarter.
Located on the corner of Chester and Ella Streets in Newstead, the project offers a round-the-clock, hotel-style concierge.
<img src="/images/2016/12/16/V27_Ella_Apartment%20Kitchen.jpg" alt="">
The project includes a rooftop space with swimming pool, spa, outdoor cinema, kitchen and barbeque areas, and golf putting greens.
There is also a private dining facility, a courtyard terrace, health and wellness centre, and gymnasium.
Kokoda Property sales and marketing director, Sam Tucker said Chester and Ella had been designed by architecture firm Hayball with interiors by Singapore Ministry of Design. 
“We wanted to offer Brisbane something it had never seen before,” said Tucker. 
<img src="/images/2016/12/16/V28_Ella_1%20Bed%20Apt%20Section.jpg" alt="">
Ella’s golden façade then has interiors featuring gold plated finishes.
The building holds 149, one, two, three, and four-bedroom dwellings. 
<img src="/images/2016/12/16/V29A_Rooftop%20Terrace_Pool.jpg" alt="">
Tucker says Kokoda Property undertook extensive research into the lifestyle on offer in Newstead to determine viability of the site.
Key drivers included a high level of lifestyle amenity with restaurants, cafes, entertainment and premium retail options, proximity to the city and access to bike and running tracks.
Combined with low vacancy rates, strong rental yield, and significant capital growth at an average of 9.7% annually for the last 10 years, this presented the perfect opportunity.
Ella’s one and two bedroom apartments range in size from 55 square metres to 82 square metres and are priced from $440,000.
Three and four bedroom penthouses range in size from 145 square metres to 197 square metres and are priced from $2.3 million.
Completion of the project is expected in 2018. Visit <a href="https://kokodaproperty.com.au">kokodaproperty.com.au</a> for more information.
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j.ballantyne1990-6AQqhLzZaK

Single purchaser splashes $14 million at Ella, Newstead luxury development

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A brand new Brisbane home, complete with striking internal glass-walled garage, has been sold, though Roxanne Liu of LJ Hooker Sunnybank Hills.
The contemporary Robertson home was built by commercial developer Satomi Telecican who built it as part of a subdivision project.
The modern garage offers <a href="https://www.realestate.com.au/sold/property-house-qld-robertson-123320558" target="_blank">space for three cars</a>, with one side sectioned off to provide a glassed gallery for showcasing your most prestigious car internally in the main entry foyer of the home.
Set on 718 sqm with a landscaped frontward, the five bedroom, five bathroom residence was listed at $2.88 million in September by LJ Hooker Sunnybank Hills selling agent Roxanne Liu.
The price was reduced to $2.68 million. It was built with concrete and steel and featuring a suspended concrete slab between its two levels.
This article was first published in the Weekend Australian Mansion Australia property section.
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Park the car in the Brisbane home foyer

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Urban renewal projects, such as the RNA Brisbane Showgrounds redevelopment are changing the face of the Brisbane fringe precinct. 
The Brisbane fringe office market comprises the five precincts - Urban Renewal (Fortitude Valley, Newstead and Bowen Hills, Herston), Inner South (South Brisbane, West End, Woolloongabba, Kangaroo Point, East Brisbane and Greenslopes), Milton, Spring Hill and Toowong and contains approximately 1.2 million square metres of lettable office space, according to Savills latest quarterly briefings.
<a href="/images/2016/11/05/Brisbane%20precinct.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/05/Brisbane%20precinct.jpg" alt="">
There are approximately 135,000 square metres of potential new office stock which could enter the Fringe office market over the next two to three years but for the present, the only office buildings under construction in the city fringe is the Southpoint development and 900 Ann St, totalling around 47,000 square metres.
The table below shows the projects under construction and those that may proceed in the medium term:
<a href="/images/2016/11/05/Brisbane%20office%20development.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/05/Brisbane%20office%20development.jpg" alt="">
Of the two remaining commercial stages planned for the RNA Brisbane Showgrounds redevelopment ‘Kings Street’, K2 remains mooted however construction on K5 is expected to begin in early 2017. In recent months, Lendlease has reportedly secured engineering company Aurecon as a major tenant, who have pre-committed to approximately 6,000 square metres.
The planned 13-level office building K2 remains in early planning stages, with construction mooted to begin mid-2017. Along with K1, the three office towers will total over 50,000 square metres net lettable area.
CDOP7 (Coronation Drive Office Park 7) while still mooted, will be the 7th commercial building within the Milton Office Park with a 12-level commercial tower, including ground level retail and an urban common area. Included in the proposal is the possibility of refurbishing a building (CDOP 09) adjacent to the site.
Tatt’s Group has on sold its 3,254 square metre Newstead site to Charter Hall who plan to build a 15-level commercial building in a joint venture with John Holland.
John Holland have also pre-committed to two floors of the new development which is expected to commence construction in the first half of 2017.
Completion is anticipated to be sometime before 2020, in line with John Holland’s current lease expires in Ann Street.
Urban renewal projects, such as the RNA Brisbane Showgrounds redevelopment are changing the face of the fringe precinct.
Along with numerous residential projects, urban renewal developments bring with them retail and café outlets as well as parks, path- &amp; bike-ways, vastly improving the amenity of the area.
This in turn is making the fringe a more attractive place for businesses to locate.
The overall office footprint of metropolitan Brisbane is also slowly expanding into neighbouring suburbs of the Fringe market, with the likes of the Hamilton Harbour and the Northshore Hamilton Brisbane Technology Park development, offering alternative modern office locations.
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Office footprint of metropolitan Brisbane slowly expanding into neighbouring suburbs: Savills

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The latest research from Brisbane South Cityscope shows commercial property sale numbers have increased over the past three months, according to CoreLogic's latest weekly report.
The property investment firm says that the last three months to the end of November 2016 recorded 21 sales for a total of in excess of $81.9 million.
With $29.9 million for commercial, $2.7 million for commercial strata, $4.7 million retail strata and $44.7 million for other.
In comparison, the three months to the end of August 2016 recorded 13 sales for a total of over $90.1 million; with $77.2 million for commercial, $1.1 million for commercial strata, $3.2 million retail strata and $8.6 million for other.
The 12 months leading up to the end of November 2016 recorded 60 sales for a total of over $341.1 million, over $109 million lower than the recorded figure for the same time period the year before.
The table below shows sales recorded for the past eight updates of Brisbane South Cityscope:
<a href="/images/2016/12/05/Brisbane-01.jpeg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Brisbane-01.jpeg" alt="">
The most significant sales, all in South Brisbane, recorded this quarter together totalled over $50.3 million.
<ul>
<li>2 Cordelia Street, South Brisbane. A high-clearance warehouse with two levels of office space to the western end and lower ground car parking. Bought for $20 million by 2 Cordelia Street Pty Ltd. The site has approval for a 30-storey tower with 379 apartments and ground floor retail space. James Walsh of Deloitte Capland Real Estate Advisory negotiated the sale.</li>
<li>13, 15 and 17 Manning Street, South Brisbane. An 1,890 square metre development site with two office buildings and a warehouse. Metro Manning Street Pty Ltd bought the three properties separately for a combined total of $21.2 million. The site has approval for a 30-storey tower with ground floor retail space.</li>
<li>14 Hockings Street, South Brisbane (pictured above). A two-storey office building with rear warehouse space. Glasgow Constructions Pty Ltd sold the property for $10.1 million to the Swanland Estates Trust. Elliott O’Shea and Blake Goddard of JLL Brisbane negotiated the sale, which represented an initial yield of 3.7% on passing income of around $373,700.</li>
</ul>
<a href="/images/2016/12/05/Brisbane-02.jpeg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/05/Brisbane-02.jpeg" alt="">
Properties listed for sale include:
<ul>
<li>15 Browning Street, South Brisbane. A two-storey short and long term accommodation building. For sale with offers over $1.9 million being considered; agent, First National Commercial (Hiep Nguyen).</li>
<li>20 Bank Street, West End. A two-storey office/warehouse. For sale with an asking price of $3.35 million; agent, C Property Qld (Carl Charalambous).</li>
<li>186 Vulture Street, South Brisbane. A single-storey building with a lower ground area. The building includes a shop to Tribune Street and a three-bedroom unit. For sale with an asking price of $2.2 million; agent, Colliers International Brisbane (Tony Huan Wing and Guy Stafford).</li>
</ul>
Currently under contract (conditional or unconditional):
<ul>
<li>427 Montague Road, West End. A two-level building with office space to Montague Road and warehouse space to Ferry Road. Due to the sloping nature of the site the building appears two-storey to Ferry Road. Under contract unconditionally for $2.73 million with settlement expected early December 2016.</li>
<li>Dialog House, 35 Boundary Street, South Brisbane. An eight-storey office building with two levels of basement car parking. Due diligence is currently being conducted; agents, Knight Frank (Justin Bond and Ben McGrath) and Savills (Peter Chapple and Anthony Ott). The property was advertised with an estimated fully leased income of $3,960,545 per annum net.</li>
</ul>
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Brisbane South's commercial property market rising: CoreLogic

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Greater Brisbane has shifted to better priced options compared to Sydney or Melbourne, according to Knight Frank's latest residential development report.
When Sydney and Melbourne were experiencing significant growth in turnover and value in higher density development sites in 2013/14, Brisbane was seen as a viable option for local and foreign investors priced out of these markets.
Since this time, the southern market has shifted with better priced options available in Australia’s two largest capital cities.
Brisbane CBD saw $16.1 million worth of residential sites suitable for higher density sold in the year to 30 June 2016, with an average indicative rate of $90,000 per apartment.
By 2022, Queen’s Wharf accommodating the new Brisbane Casino, and integrated resort, will breathe new life into the George Street sector of the CBD.
Together with the North region, a total of 29,280 apartments are projected until the end of 2019, with 9,560 currently under construction, 5,885 being marketed and further 13,840 were sitting with DA Approval as at 30 June 2016 (Figure 14).
<a href="/images/2016/12/01/Figure%2014.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Figure%2014.jpg" alt="">
The North region not only dominated the number of apartments projected, but development site sales volume in the year to 30 June 2016.
A total of $513.4 million was sold, with the average rate ranging from $40,000 to $105,000 per apartment (with an indicative average of $70,000 per apartment).
The region will benefit from proposed infrastructure such as the redevelopment of the Herston Quarter, an estimated $1.1 billion mixed-use precinct for health, residential, commercial and recreational activity due for completion by 2027.
The South region saw total sales volume reach $42.1 million in 2015/16 with an average sales rate per apartment of $30,000 to $95,000 (indicative rate of $60,000 per apartment).
<a href="/images/2016/12/01/Figure%2015.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Figure%2015.jpg" alt="">
Approximately 2,845 apartments are under construction in the South region whilst 1,535 are being marketed, potentially completed by December 2019.
Two key infrastructure projects in Greater Brisbane are the Qld Government’s Cross River Rail and Metro Brisbane projected by 2025. Both will play a critical role in ensuring rail and bus networks can meet the city’s future public transport needs.
Once the allocation of key sites along the route is determined and access to funding is sourced, both projects will provide a good injection of stimulus into the Greater Brisbane economy.
<a href="/images/2016/12/01/Brisbane%20high%20density.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/01/Brisbane%20high%20density.jpg" alt="">
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Greater Brisbane's better priced property options for developers: Knight Frank

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Government grants and current low interest rates are helping first home buyers get into the Brisbane property market.
Alex Veal, Mint Residential Principal said more than 60 percent of the recent buyers at Vantage Lutwyche, have been new to the market.
"The increased First Home Owner Grant to $20,000 and stamp duty concession under $500,000 means they can purchase a new property with minimal savings and lock in an interest rate at circa four percent to give them certainty in payments at the front end of their mortgage," he said.
"When you add all those factors together, there really has not been a better time for purchasers to enter the market for some time - and they are increasingly recognising this."
Vantage Lutwyche fetures 55 one and two bedroom apartments across six residential levels, a 160sqm roof terrace and pavilion.
Buyers also get  a year's supply of coffee at local cafe Coddle and Co., an annual gym membership and quality blinds.
One bedroom apartments at Vantage Lutwyche start from $324,000 and two bedroom apartments from $439,000.
Loretta Reinke, and Hasitha Samaratunga, each purchased an apartment off-the-plan in Vantage Lutwyche
Ms Reinke said she was looking at apartments that were up to 10 years old, and they were no cheaper and offered a similar level of space.
"So I figured why not buy new, where I did not have to worry about how other people had treated the apartment," she said.
"The extra $20,000 I would receive for buying new was certainly very handy."
An on-site display is now open at the corner of Isedale Street and Lutwyche Road, Lutwyche between 4.30pm and 5.30pm on Wednesday, 10.30am to 12.30pm on Saturday or by appointment.  For further information call 1300 789 959 or visit <a href="https://www.vantagelutwyche.com.au" target="_blank">vantagelutwyche.com.au</a>
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