Developer DAKL Group has expanded its holding on Stanley Street, one of the main inbound thoroughfares of East Brisbane, acquiring an additional site to add to the property it purchased in late 2025.

In December, DAKL, led by director Kieran Gartshore, paid $5 million for a showroom at 899 Stanley Street, an 845 sqm site that was being offered for sale for the first time in 130 years.

The group has now spent $9.35 million securing the adjoining 1,722 sqm site at 891 Stanley Street East, taking its total holding to more than 2,615 sqm.

“We’re excited to expand our investment in the Woolloongabba PDA,” Gartshore said of the recent acquisition.

“By combining this site with our adjoining property, we can continue supporting existing tenants in the near term while working with EDQ (Economic Development Queensland) to create a high-quality residential development in the future.”

CBRE’s Nick Wedge and Will Carman managed the sale, describing the site as a “truly rare offering given its significant development upside”. It can rise to 15 storeys, subject to council approval.

“We are very excited to see the buyer’s plans evolve and add to this already prominent precinct,” Carman added.

East Brisbane has been a popular location for development in recent years. Sarazin is currently building <a href="https://www.apartments.com.au/new-apartments/murcia-residences-east-brisbane-9-overend-street-east-brisbane-qld-4169">Murcia Residences</a> on Overend Street, while Core Property Partners is marketing BANKSII on Wellington Road.

Sarazin also has plans for nearly 800 apartments in a project called <a href="https://www.apartments.com.au/new-apartments/hampton-yards-east-brisbane-21-wellington-road-east-brisbane-qld-4169">Hampton Yards</a>, also on Wellington Street.

Joel Robinson

DAKL Group secures prime apartment development site as East Brisbane demand grows

Long-established Brisbane developer Azure is set to further expand their footprint on the Gold Coast, securing a site in Southport that will pave their way for their first new apartment development in the area.

The Brisbane-based company has secured a 1.7-hectare block at 1 Clarke Street, Southport, in the heart of the Health and Knowledge precinct. They plan to deliver 100 one-, two-, and three-bedroom residences within Lumina, a purpose-built commercial and innovation precinct.&nbsp;

The acquisition comes amid sustained population growth and rising demand for well-located housing within the Gold Coast Health and Knowledge Precinct, one of Queensland’s fastest-growing employment hubs.

“We’re excited to be moving further south on the Gold Coast through this acquisition,” said Trent Keirnan, Founder at Azure.&nbsp;

“Southport is rapidly emerging as a true CBD, underpinned by health, education and innovation.&nbsp;Securing one of the final residential opportunities within Lumina at the 200 hectare Gold Coast Health &amp; Knowledge Precinct allows us to play a meaningful role in shaping the next chapter of the city.”

The project will mark Azure’s second residential project on the Gold Coast, following the group’s strong performance across Southeast Queensland, with the group delivering over 300 residences within the past year.

&nbsp;

&nbsp;

“There is a clear appetite for design-led living in vibrant, connected locations like Southport, and this site enables us to respond to that demand in a thoughtful way,” said Keirnan.

Planning and design are now underway, with the project’s sales launch scheduled for the second half of 2026.

Azure already has a strong footprint in Brisbane’s northern corridor, with the Gold Coast site acquisition adding to a growing $2 billion pipeline of major projects underway.

Azure expands into Gold Coast new apartment market with Southport site purchase

It was the lack of market-ready apartments that attracted renowned developer TOGA to a prime site on Anzac Parade in <a href="https://www.apartments.com.au/developments/kensington-nsw-2033">Kensington</a>, just a stone's throw from excellent connectivity, medical, and educational facilities.

“There’s a lot of student accommodation in the area that serves students coming in and out over a four-year period,” TOGA's Executive General Manager of Sales, Anthony Falas, recently told Apartments.com.au. He highlighted the area's popularity among students due to its proximity to UNSW and the Randwick Health Precinct.

However, he suggested that despite the activity in the student accommodation space, the area is lacking new housing stock for those looking to purchase.

"<a href="https://www.apartments.com.au/new-apartments/the-kensington-147-151-anzac-parade-kensington-nsw-2033">The Kensington</a> fills that gap," Falas says.

The new development will also bring several new retailers on Anzac Parade. They will range from a small supermarket and cafes to services such as hairdressers and pharmacies, which will serve not only The Kensington residents, but also the wider neighbourhood.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/B7tY31IeKO4?si=xSOpdkq8kqNFG_KT" title="YouTube video player" width="560"></iframe>

The Kensington, currently under construction and due for completion in mid-2026, will deliver 142 apartments above five street-level retail tenancies, ideally located directly opposite the Kensington Light Rail stop.

TOGA hasn't sacrificed apartment size for density. The two-bedroom apartments are well over 90 sqm, with three-bedroom residences around 110 sqm.

“These are geared towards people coming out of $4-5 million homes in the area,” says Falas. “They want to right-size, not compromise.”

&nbsp;

[smartcode_project:default project_id=110959 project_image_fid=361235]

The timing of completion is becoming increasingly appealing for both downsizers and investors. The latter will have a clearer picture of interest rates and market conditions for tenants with the building set for completion in April.

TOGA, a builder-developer, had been working on Surry Hills Village, its flagship development in Surry Hills, which is widely regarded as one of the best inner-city projects delivered in decades. They also completed a two-tower project in Macquarie Park. For The Kensington, TOGA enlisted DASCO, an iCIRT-rated builder, to ensure the project meets TOGA’s impeccably high standards.

“It’s been fantastic to go through this journey with them, and our customers will share that experience,” says Falas. “As we complete, we’ll bring them through and conduct final inspections with the builders.”

&nbsp;

[smartcode_project:default project_id=110959 project_image_fid=361225]

The building, designed by Turner Studio, features an elevated rooftop garden offering views across Randwick Racecourse and Centennial Parklands. Downstairs, new retail spaces will contribute to the growing vibrancy of Anzac Parade, while SOHO-style apartments provide flexibility for those running businesses from home.

Falas believes The Kensington offers everything an owner-occupier would want in terms of livability, as well as strong long-term growth potential for investors.

"The CBD is just a couple of stops away, it takes 10 minutes tops, door to door. We also have a major employment hub here, with the hospital and the university. So we’re seeing a lot of people who work in the area looking to purchase, or who have already purchased. And you’re also not too far from the eastern beaches, Coogee, Bondi, Tamarama, and all the fantastic beaches Sydney has to offer.”

For a limited time, TOGA is offering purchasers the option to buy with a 5% deposit. One-bedroom apartments start from $1.03 million.

[smartcode_project_cta:default project_id=110959]

Inside TOGA’s vision for The Kensington

National property developer Goldfields has secured permit approval and appointed Victorian residential builder Ironside to begin work on The Brightly, an 11-storey, wellness and lifestyle-focused mixed-use development in Richmond.

<a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has partnered with Dexus Real Estate Partnership Fund 1 (DREP 1) as co-investor and delivery partner in the <a href="https://www.apartments.com.au/new-apartments/the-brightly-9-15-brighton-street-richmond-vic-3121">Brighton Street project</a>.

With architecture and interiors by design practice Cera Stribley, The Brightly will feature 100 apartments, a resident-only wellness space, elevated dining experiences including a private dining room and a rooftop garden lounge, and ground-floor retail designed to integrate with Richmond’s local character.

The wellness space will feature a hot magnesium pool, cold plunge, steam room, sauna, and a vitamin-infused drinking station for refreshment and rehydration.

The Brightly’s focus on wellness extends to the rooftop landscaped by award-winning landscape architect Jack Merlo. It will feature canopied retreats and panoramic views of the Melbourne CBD and Richmond Hill treetops. Residents can also host guests with a private bookable dining space on the rooftop garden lounge and an indoor option on the first level.

Cera Stribley’s architectural vision drew inspiration from the surrounding area, using the flowing form of the train lines to shape the façade and create a dialogue between the building and Richmond’s rich history. The design features a four-level podium lined with lush greenery, honouring the suburb’s character and streetscape through its scale and materials.

There will be a choice&nbsp;of one-, two- and three-bedroom apartments, along with 19 exclusive sub-penthouses and penthouses, for prospective purchasers.

Lachlan Thompson, Goldfields’ CEO, said The Brightly will define a new kind of urban luxury for Inner East living.

“By drawing on Richmond’s vibrant mix of culture and hospitality, we’ve combined a lifestyle centred on wellness,” Thompson said.

“Its proximity to Melbourne's sports and entertainment precinct, the CBD, parks, and public transport makes it a prime location for both young professionals and those seeking a lifestyle change. What we’ve created is something remarkable - it’s real, it's Richmond, and it’s refined."

Dexus Real Estate Partnership Fund 1 Fund Manager, Jason Howes, said the Brightly is a high-quality investment in a high demand area with limited residential stock expected to be added in the coming years.

“Partnering with Goldfields, we are delivering a project that will redefine lifestyle focused urban living, offering residents exceptional design and amenities in one of Melbourne's most vibrant suburbs,” he said.

Onsite demolition is underway, with construction set to commence in April 2026 and completion targeted for late 2027. The Brightly will launch to market in mid-2026.

[smartcode_project_cta:default project_id=146631]

Goldfields greenlit for The Brightly, Richmond apartment development

The Allan Labor Government has revealed the remaining 23&nbsp;Train and Tram Zone Activity Centres as part of their plan to try and encourage development around some of Melbourne's most connected suburbs.

The new zones includes&nbsp;four smaller ‘neighbourhood centres’ to plan for more modest growth.

<ul>
	<li>Five are connected to the new Metro Tunnel and are now experiencing more services: Caulfield, Springvale, Noble Park, Yarraman (neighbourhood centre), and Dandenong stations.</li>
	<li>Eight are along the Frankston Line, which has recently returned to the City Loop: Hawksburn, Toorak (Beatty Avenue), Armadale (High Street), Malvern (Glenferrie Road), Glen Huntly, Ormond, Bentleigh, and Mentone stations</li>
	<li>Four are along the Sandringham Line, which will see an increase in services later this year: South Yarra, Prahran, Windsor and Elsternwick stations</li>
	<li>Three are on the Belgrave/Lilydale Line and benefit from five-minute peak services on average between Ringwood and the city: Blackburn, Nunawading, and Mitcham stations</li>
	<li>Two neighbourhood centres on the Alamein Line: Ashburton Station, plus a combined centre for the two closest stations on the metropolitan network Riversdale &amp; Willison stations</li>
	<li>One neighbourhood centre, Toorak Village, is a built-up area along the Route 58 tram.</li>
</ul>

The <a href="https://spatial.planning.vic.gov.au/activitycentre/">draft maps</a> will now be subject to detailed community consultation.

A similar process occurred for the first 10 pilot Activity Centres, with clear changes made as a direct result of this community consultation.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/vic/50-new-train-and-tram-zone-activity-centres-to-encourage-new-apartment-development-across-melbourne">50 new ‘train and tram zone’ activity centres to encourage new apartment development across Melbourne</a>

The final train and tram zones will set clear expectations on where new homes can go, cutting out delays, uncertainty and red tape and getting homes off the ground. The remaining two in inner-Melbourne that cover the entire Local Government Areas of Melbourne and Yarra, will go through a separate process.

In the immediate ‘core’ the plans allow for more homes in taller apartment buildings.&nbsp;Some cores have heights of six storeys, while others have up to 20 storeys, only when it is in line with those councils’ planning work.

Eligible buildings across the core will be ‘deemed to comply’ with planning rules and be exempt from VCAT review. Applications in the core that exceed the specified height of the site are not eligible for this fast-tracked pathway.

In the walkable catchments that surround the core, the plans propose gentler height limits and more low-rise apartments and townhouses. Heritage and landscape overlays will stay in place.

Inner catchments, representing up to a five-minute walk from the station or centre, propose limits of four storeys, or six storeys on larger blocks of more than 1,000 sqm, while outer catchments, representing up to a 10-minute walk from the station or centre, propose limits of three storeys, or four storeys on larger blocks of more than 1,000 sqm.

By 2051, train and tram zones will help deliver more than 300,000 new homes, with final plans for all 50 new centres expected to be completed by mid this year.

“We want more Victorians to have the opportunity to live close to public transport, their loved ones, and the things that matter to them,"&nbsp;Minister for Planning Sonya Kilkenny said.

“Whether it’s making it easier to build homes close to public transport, townhouses in our inner suburbs, or family homes with a backyard, our planning reforms are all about giving more Victorians real housing choice.

“While we’re focused on giving more young Victorians the opportunity to have a home of their own, the Liberals are blocking them from being built. They oppose more homes near transport, jobs and services.”

Toorak and South Yarra earmarked for greater density as VIC Gov releases final Train and Tram Zone Activity Centres

Property Market Slowdown

<h2>EXPERT INSIGHT</h2>

Australian capital city average dwelling prices rose 1.8% in April according to CoreLogic and are up 6.4% on a year ago.

This is their seventh monthly gain in a row.

While down from the break neck pace of 2.8% seen in April, price growth is still strong and average capital city prices are now 5.4% above their September 2017 record high.

All capital cities saw prices rise solidly in April with Darwin the strongest at +2.7%, followed by Sydney at +2.4% and Adelaide at +2%. See the table below.

All capital city prices are at record levels except for Perth and Darwin which are recovering from 22% and 33% falls respectively between 2014 and 2020, which was in the aftermath of the mining investment boom.

[smartcode_project:default project_id=22057 project_image_fid=150836]

Regional dwelling prices rose 1.9% in April and are up 13% on a year ago with their relative strength over the last year reflecting lower levels of indebtedness and hence less vulnerability to the financial stresses caused by the pandemic driven economic downturn, less exposure to the slump in immigration and increased buyer interest as people seek to relocate from cities as part of a secular trend towards working from home and a greater focus on lifestyle.

Capital city house prices rose 2% in April and 8% over the last 12 months whereas unit prices lagged with a 1.2% gain in the month and a 1.8% rise on a year ago, with the relative underperformance reflecting a shift in preferences towards houses as a result of more working from home and a lifestyle choice and as weak rental conditions made worse by the slump in immigration constrained the inner city unit markets in Sydney and Melbourne. However, the Sydney and&nbsp;

Melbourne unit rental markets have shown signs of stabilisation and improvement in recent months and this appears to be helping unit prices, although they are still lagging.

The slowdown in price growth compared to March was inevitable given that the 2.8% average gain that month was the strongest since October 1988 and was always going to be hard to beat. Moreover, the moderation is also consistent with some pick up in new listings which has seen auction clearances slow a bit from March, some easing in the impact of government incentives and perhaps some of the initial boost from four year fixed mortgage rates below 2% having run its course.

However, average home gains of 1.8% a month are still very strong, housing finance commitments remain around record highs suggesting more demand to come and auction clearance rates in Sydney and Melbourne remain very high and at levels consistent with strong home price growth. While first home buyers led the initial recovery, spurred on by various incentives, housing finance data suggests that first home buyer demand may now have peaked but that investors are now jumping in to take over from first home buyers and that demand from owner occupiers generally remains very strong.

The fundamentals of still ultra-low mortgage rates, ongoing government incentives, economic recovery, the strong jobs market and an element of FOMO (buying now for fear of missing out) point to further home price increases ahead. We expect average home prices to rise another 10 to 15% out to the end of 2022, but this to mask a slowing from 15% this year(of which they have already done 7.5%) to 5% next year. 2023 could start to see another cyclical downturn in property prices as the interest rate cycle starts to move up more decisively.

There are six reasons to expect a gradual slowing in the pace of capital city dwelling gains going forwards:

First, government housing incentives are likely to be wound back a bit. The First Home Loan Deposit scheme is likely to see home price thresholds increased in the Budget, but HomeBuilder has now ended and some states may start to wind back various incentives.

Second, poor affordability is starting to become an increasing constraint again and is likely already starting to weigh on first home buyer demand going by housing finance data.

Third, the RBA and APRA are expected to reach yet again for macro prudential controls to slow housing lending sometime in the next six months. While they don&rsquo;t target house prices and are of the view that we have not yet seen a significant&nbsp;deterioration in lending standards, past experience indicates that surging house prices leads to a deterioration in lending standards and increasing financial stability risks. And the metrics APRA and the RBA look at are starting to push up in the direction of a deterioration in lending standards with record housing finance, an acceleration in housing debt (see the next chart), an increasing share of lending at high loan to valuation ratios and a rising share of interest only loans albeit from a low base. The first thing to do would be to increase interest rate buffers but limits on high loan to valuation ratio lending and high debt to income ratio lending may make sense too.

Fourth, it&rsquo;s likely that the 30 year tailwind for the property market of falling interest rates has now run its course. While variable rate hikes are probably two years away at least, four year plus fixed mortgage rates have started to move up with the rise in bond yields and shorter dated fixed mortgage rates may also start to move up over the next year. Longer term the RBA is more determined than ever to see inflation sustained in its target range which will ultimately put an end to the long term downtrend in interest rates and mean higher variable rates.

Fifth, the hit to immigration and a likely only gradual recovery in it once international borders are reopened combined with continued strong home building is likely to lead to an oversupply of property in the next few years.

Finally, the &ldquo;escape from the city&rdquo; phenomenon unleased by the pandemic and made possible by technology enabling more working from home compared to prior to the pandemic is likely to take some further pressure off capital city property prices &ndash; albeit this will drive a further catch up in regional prices.

The “escape from the city” phenomenon unleased by the pandemic and made possible by technology enabling more working from home compared to prior to the pandemic is likely to take some further pressure off capital city property prices

soliver

6 reasons to expect a gradual slowing in the pace of capital city dwelling gains: Shane Oliver

Australian housing values lifted by 1.8% in April according to CoreLogic&rsquo;s national home value index, with the monthly pace of capital gains easing from a 32-year high in March (2.8%). &nbsp;

Although growth conditions have slowed, housing values are still rising at a rapid pace, up 6.8% over the past three months to be 10.2% higher than the COVID low in September last year.

CoreLogic&rsquo;s research director, Tim Lawless, says the pace of capital gains could slow further over the coming months as inventory levels rise and affordability constraints dampen housing demand.

&ldquo;The slowdown in housing value appreciation is unsurprising given the rapid rate of growth seen over the past six months, especially in the context of subdued wages growth. &nbsp;With housing prices rising faster than incomes, it&rsquo;s likely price sensitive sectors of the market, such as first home buyers and lower income households, are finding it harder to save for a deposit and transactional costs.&rdquo;

[smartcode_project:default project_id=12718 project_image_fid=39002]

There is already some evidence of fewer first time buyers in the market, with the Australian Bureau of Statistics reporting a -4.0% fall in the value of first home buyer home loans through February, the first drop since May last year.

Despite the slowdown, positive housing market conditions remain geographically broad-based with every capital city and &lsquo;rest-of-state&rsquo; region continuing to record a lift in dwelling values over the month.

<img alt="" height="482" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image003.jpg" width="850" />

Darwin (2.7%) and Sydney (2.4%) recorded the largest month-on-month rise in dwelling values, while Perth values recorded the lowest rate of growth amongst the capital cities at 0.8%.

The four smallest capital cities recorded double digit annual growth (Adelaide 10.3%, Hobart 13.8%, Darwin 15.3% and Canberra 14.2%), reflecting a smaller COVID-related disruption and an earlier start to the growth phase last year. &nbsp;Melbourne is recording the lowest level of annual growth (2.2%) due to a larger downturn, attributable to the extended lockdown period last year.

The broad trend of houses outperforming the unit sector continued through April as higher density styles of housing experienced less demand amidst elevated supply across some inner city precincts. &nbsp;At the combined capital city level house values (8.6%) have risen at double the pace of unit values (4.3%) over the first four months of the year.

&ldquo;A preference shift away from higher density housing during a global pandemic is understandable, however a rise in flexible working arrangements also seems to be supporting greater demand for houses around the outer-fringes of capital cities. &nbsp;Relatively weak investor activity, compounded by a supply overhang in some high-rise precincts, is also dampening price growth in unit markets,&rdquo; Mr Lawless said.

Australian housing values lifted by 1.8% in April with the monthly pace of capital gains easing from a 32-year high, according to CoreLogic

Property Market Slowdown

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