Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

Brisbane

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The most affordable residential property to change hands at the Brisbane auctions last weekend was $350,000 in Chermside, 10 kilometres north of the riverside city.
The three-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-chermside-117871911" target="_blank">621 Webster Road</a> was on a large block of 632 square metres and sold through agent Burton &amp; Ryan Property Agent, according to APM.      
The house was last traded in November 1976 for $32,250.
RP Data sets the median rental for a Chermside house at $388 per week.
The median house price for August this year was $470,000, down from the median house price of August 2013 of $560,000. 
The house shares its location with one of Queensland’s largest shopping centres - Westfield Chermside.
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andreadixon-oif3j7eKne

Chermside secures Brisbane's cheapest weekend auction result

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Brisbane to outshine with 17% growth over next three years: QBE

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Brisbane’s most affordable property to sell at auction last weekend was a two-bedroom townhouse in Woodridge in southeast Queensland.
According to Australian Property Monitors, the two-level 1990-built property at 12/147 Kingston Road sold for $178,000 though Harcourts M1.
The townhouse is now available for rent at $300 a week.
It last traded at $146,900 in 2007.
The new buyers will see a yield of 8.6% if the asking rent is met.
RP Data figures show that the median price for a house in Woodridge is $262,000, while the median price for units is $205,000.
In a separate deal earlier this year another townhouse in the block sold for $198,000 – the top price in the complex - and was subsequently rented for $280 a week reflecting a yield of 7.3%
According to RP Data, the median rental for Woodridge is $260 per week.
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Woodridge price recovery: Brisbane's cheapest auction sale

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The plans for South City Square, tipped to be one of the largest inner city mixed-use developments for Brisbane, have been launched.
With an estimated end value of $550 million, the 2.1 hectare site will include 1,000 apartments across seven towers and retail at ground level.
Located at Woolloongabba, in the Woolloongabba Priority Development Area, it’s one of a recent marks of confidence for the area.
Just last month, <a href="/expert-insights/investing/quest-opens-at-woolloongabba">Quest opened in the area</a>. Meanwhile, earlier this month, Aria paid $10 million to consolidate a site in the suburb to develop a residential project, expected to be <a href="/expert-insights/buying/aria-consolidates-woolloongabba-site">four individually designed medium rise buildings on the large site</a>.
Wolloongabba was also noted in the top three for this year in Your Investment Property magazine’s annual guide with infrastructure and urban renewal noted as signs of growth.
This development is a joint venture between Pellicano and Perri Projects, who acquired the land together in late-2013.
<img src="/images/2014/10/7/OneSouthCity_View_03_External-1.jpg" alt="">
Image supplied.
The development will occur over the next five to seven years. Pellicano Group joint managing director Nando Pellicano explained that the council had already given the first tower, with 118 apartments over 14 storeys, the green light. 
"Site works have commenced, with the first tower known as One South City expected to start construction in early 2015," said Pellicano.
"Tower one comprises a mix of designer one, two and three bedroom apartments with high-end finishes and a roof top recreation deck with a pool, spa, residents' lounge, barbeque and dining areas, sun lawn and teppanyaki bar."
DBI Design, Woods Bagot and Oculus are behind the elements of the design.
"DBI has designed the tower with orientation, natural light and views in mind. For this reason, the precinct is centred around a square which is approximately half a hectare in size. This will be a significant urban recreation space with retail activation for residents and the general public,” he said.
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One of the largest inner city Brisbane mixed-use developments revealed

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Brisbane’s least expensive residence to sell at weekend auction was a house in Redbank Plains, near Ipswich on Brisbane’s outer ring suburbs.
Australian Property Monitors reported that the three-bedroom 1970s-built home at <a href="https://www.realestate.com.au/property-house-qld-redbank+plains-117852659" target="_blank">42 Flinders Street</a> exchanged for $230,000 through the Professionals Thornton.
The solar powered house on 967 square metres of land last sold in 2005 for $190,000.
The median sale price for a house in Redbank Plains was at $309,000 in early 2014, up from $275,000 in early in 2012. 
Between 2012/13 the median growth in the suburb was 3.4%
RP Data shows the median weekly rental is $320.
Other recent house sales in Flinders Street included a three-bedroom house, which sold in July for $282,000. In May another house sold for $275,000 while in February a house sold for $235,000, which was last rented for $270 a week - the continual figure since 2008 despite new leases - reflecting a yield of nearly 6% for an investor.
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Brisbane's cheapest at Redbank Plains with $230,000 weekend sale

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Lend Lease’s The Yards, on Brisbane Showgrounds’ King Street, sold 160 apartments in four hours at launch.
In total, <a href="https://www.theyards.com.au" target="_blank">The Yards</a> development is expected to see 401 residences, across 16 and 18 level towers and 11 terraces. The first release, which saw the quick sales, was that of North Yard – a 208 apartment tower designed by Hayball.
Prices spanned from one bedroom units for $375,000 to two bedroom two bathroom apartments for $702,500.
The development includes a 2,500 square metre “podium retreat” and 20 wellness and entertainment hubs.
Andrew Hay, project director for Lend Lease Brisbane Showgrounds, said that 87% were onshore, and that the launches occurred in Brisbane and Sydney concurrently
“As a result of the weekend’s success we’ll bring forward the second release of the project – South Yard – by three months,” he said.
“The most popular configurations were one bedroom plus study, and large corner two bedroom and two bathroom apartments.”
Construction is expected for mid-2015.
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160 new Brisbane apartments sell in four hours

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Property investors need to pay more attention to price points, rather than just generic price growth.
If I was to tell you that there were more home sales under $400,000 across Brisbane than, say, between $600,000 and $800,000, many of you might not believe me. A similar trend exists across most other Australian capitals, including Sydney and Melbourne; and this is definitely the case in our regional towns.
This information is very important for a range of reasons.
Market size is important. More so, for me, than the general direction or position of the market. Size does matter. Buyers should know how many sales take place in their particular price category.
This helps work out how long it might take to resell. It also gives a clue as to how much one might need to promote their property in the future in order to achieve a sale.
Most property sells for less than the property intelligentsia would have us believe. We largely read about the ‘good news’ in all those property investment mags, and not the bad - or even plain average.
Again, most dwellings sold across Australia sell for under $500,000. A third sell for prices under $350,000.
The market is shaped like a pyramid. Sales volumes diminish as prices rise.
In general, the more you pay for a property, the fewer buyers there are to resell to in the future. That isn’t to say there hasn’t been growth in the size of the top end housing market across Australia. Today, one in 10 of our homes achieves over $1 million on sale, up from 3% 10 years ago. One in 50 sells for over $2 million, up from 0.7% a decade earlier.
Another important point is that price movement isn’t uniform across a market.
Certain price points move more than others, and this changes, depending on the market’s position in the property cycle.
For example, Brisbane is in a recovery phase, so the more expensive properties are starting to sell. While there has been some movement in the number of house sales priced in the more affordable sub $350,000 price range (a 12% lift) over the past three months, this is mild compared to the increase in sales priced between $500,000 and $1 million, which has increased by over 30%.
Sales over $1 million are up a whopping 43%.
In contrast, during a downturn for example, it is the cheaper properties that see more growth in sales volumes.
Keep the latest Brisbane dwelling price points in mind:
<ul>
<li>38%: Under $400,000 
</li>
<li>39%: $400,000 to $600,000 
</li>
<li>6%: $800,000 to $1,000,000 
</li>
<li>4%: Over $1,000,000</li>
</ul>
In summary, I believe investors – especially those starting out – should buy a property in the larger price brackets. There is safety in numbers. Properties in these price groups are generally more affordable, making them more ‘downturn’ proof.
When you read about generic price growth, keep in mind that not all of the market is moving at the same pace. Some market segments may even be moving in a different direction. There are many housing markets, even in the same city and local area.
 
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michaelmatusik-49YzLvdmNv

Keep your eye on price points, not price growth

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Given Melbourne and Sydney’s strong growth, John McGrath says that it may be wise to turn attention elsewhere – specifically, Brisbane and South-East Queensland, where he expects to see the best capital growth of all the major cities over the next three years.
He suggests that it will be a fantastic opportunity for southern state-based investors, downsizers and seachanging families.
"Upgraders are driving most markets in Queensland, with increasing interest from Melbourne and Sydney investors chasing better yields and value,” he noted in his most recent McGrath report.
“Last year, the sub-$1 million was the standout sector, this year it has extended to sub-$1.5 million. The $500,000 to $700,000 bracket is very strong, with lots of families selling to upgrade to $1 million plus properties and lots of buyers ready to compete for their homes."
He detailed that Brisbane is in the beginning of its growth cycle.
This is characterised by the following seven factors:
<ol>
<li>More local and out of area investors 
</li>
<li>More families upgrading while value remains 
</li>
<li>First home buyers looking to get out of the rental cycle 
</li>
<li>Returning developers 
</li>
<li>Number of sales goes up 
</li>
<li>Days on market goes down 
</li>
<li>More buyers attending opens and registering to bid at auctions</li>
</ol>
"All of this is happening in Brisbane right now and it's finally starting to have an impact,” he said, noting that as Sydney and Melbourne’s growth slow down, we can expect Brisbane’s to ramp up.
The inner ring markets, that is five to six kilometres from the CBD, were noted as being in “strong demand” followed by the middle ring, 10 kilometres out.
"We are starting to see that classic ripple effect as more people expand their search to the middle ring where they can get bigger blocks at slightly better prices yet still with easy access to the CBD,” he said.
"More buyer's agents are setting up in Brisbane - indicative of increasing demand from interstate clients."
Larger infrastructure projects, including hospitals, are also likely to drive growth over the next few years.
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The seven factors behind Brisbane’s upcoming growth: John McGrath

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The former Queensland Premier Anna Bligh has sold her Highgate Hill, Brisbane investment apartment for $622,000, reflecting 0.4% annual price gain over her five year ownership.
The sale price didn't cover its initial $20,000 stamp duty.
The three bedroom, two bathroom apartment in the Beaumont block had a $640,000 asking price<a href="https://www.raywhite.com/qld/highgate-hill/1156004/" target="_blank"> through Ray White South Brisbane agent Luke Croft</a>.
The 4/91 Dornoch Terrace apartment cost $609,000 in 2009 when bought by Anna Bligh with her husband Greg Withers.
So its 0.4% annual price growth suggests reports of a boom in Brisbane apartments is premature. The hype might be just appropriate to the off the plan market, rather than the repeat established unit market.
The Bligh rental had 149 square metres space with two car spaces.
The large wraparound balcony has a north/east aspect as well as southern views over to the University of Queensland. 
It sits within the sought-after Brisbane State High catchment.
The apartment recently became available for rent at $520 a week, so reflecting a 4.2% rental yield if it had sold at its asking price. 
It was previously available for rent at $480 a week in May 2011.
On its 2009 purchase the couple sought to obtain $530 a week tenants, but had to lower the asking rent to around $490 a week.
Property Observer understands the couple retain two other Brisbane investment properties.
Their Brisbane house was sold following their move to Sydney where he took up a job in 2012 at Arts NSW.
<a href="/news/qld/anna-bligh-sells-her-highgate-hill-home">The Sydney-based former Queensland premier Anna Bligh and</a><a href="/news/qld/anna-bligh-sells-her-highgate-hill-home"> her husband, Greg Withers, secured $960,000</a> having bought the 1890 Highgate Hill home in 1997 for $290,000.
They rented in Sydney's Paddington.
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jchancellor-FAypfDUnLy

Beware the Brisbane boom property spin as Anna Bligh secures 0.4% annual gain

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The first sod has been turned at Spectrum Apartments, an affordable housing project in Brisbane’s north.
The $13 million <a href="https://spectrumbrisbane.com.au/apartments" target="_blank">Spectrum </a>apartment complex at 616-638 Lutwyche Road will be built on a 4,370 square metre block of state-owned land.
Housing provider BHC is developing the plot into 64 affordable and private apartments and retail spaces and was gifted the land by the government. The three levels include ground floor commercial/retail spaces, with 30 of the residential apartments for sale.
Architects Cottee Parker’s design will include roof overhangs, screens and sunhoods, as well as weather proof pedestrian access on the street frontage.
Major construction is to begin next year with completion scheduled for 2016.
BHC chief executive officer David Cant said that Spectrum will include offices for MS Queensland, with affordable accommodation offered to multiple sclerosis sufferers through a partnership with the charity.
“Spectrum Apartments will provide a path back to the inner city for those who haven’t been able to keep up with Brisbane’s rising rents,” Cant said.
Apartments will include secure under cover parking. Floor plan configurations on the two levels include one bedroom, one bathroom, and two different two bedroom, two bathroom layouts.
A communal recreation area with seating and a BBQ area will also be built.
 
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