<p>One of the most significant beachfront projects ever proposed for the small suburb of Miami on the Gold Coast, has taken a major step forward.&nbsp;Monaco Property Group has secured approval for <a href="https://www.apartments.com.au/new-apartments/nalu-miami-122-marine-parade-qld-4220">NALU</a>, a $500 million development comprising just 45 ultra-luxury residences on the iconic former Nobby’s Outlook site.</p>

<p>Acquired by <a href="https://www.apartments.com.au/developers/monaco-property-group">Monaco Property Group</a> in 2024 for $70 million, the rare 7,238 sqm Marine Parade parcel boasts more than 80 metres of uninterrupted ocean frontage.</p>

<p>With approvals now secured, Monaco Property Group will move NALU into its delivery phase. The project has been designed by&nbsp;<a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, who collaborated with&nbsp;<a href="https://www.apartments.com.au/landscape-architect/ldg-landscape-architecture">LDG Landscape Architecture</a> and <a href="https://www.apartments.com.au/interior-designers/tom-mark-henry">Tom Mark Henry Interiors</a>&nbsp;to create the low-rise building, its landscaping, and interiors.</p>

<p><img alt="NALU" data-entity-type="file" data-entity-uuid="3fdf578e-7cc4-4b17-bbc2-ba853522a5d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/122_Marine_Parade_002.jpg?VersionId=zFhJWVzX0jmCO.5iIIxNELImHesTjWS4" /></p>

<p>Residences will range from 237 sqm layouts to beachfront homes exceeding 1,400 sqm.</p>

<p>At the heart of the project is a 2,200 sqm lifestyle precinct with a bathhouse, fitness centre and resort-style pool, elevated by a concierge service.</p>

<p>Jonathan Grasso, Co-Founder of Monaco Property Group, said the council approval marks an exciting milestone for NALU, which will launch in Q1 2026.</p>

<p>“The project will now progress toward construction, working alongside our world-class collaborators to bring NALU to life," Grasso said.</p>

<p>“Our vision is to create a legacy project for the Gold Coast, one that not only honours the history of the site but also elevates its future, setting a new standard for coastal living in Australia. NALU embodies the pinnacle of design and location and will stand as an enduring icon of prestige and liveability.”</p>

<p><img alt="NALU" data-entity-type="file" data-entity-uuid="6ae8545b-87ca-4dea-90ed-ac273ec6515d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Image7.jpg?VersionId=Wnmie4bu3x2WQonnG4Pwmh39NdZVKeOV" /></p>

<p>Originally developed in the 1970s as Nobby’s Outlook and later refurbished in 2019 as Nalu, the property has long held a place in the local community’s coastal identity. The new vision will build on this legacy, creating luxury residences that capture ocean views while fostering a lifestyle defined by wellness, connection, and ease.&nbsp;</p>

<p>Beyond its residential offering, NALU will deliver significant economic benefits to the Gold Coast through job creation and opportunities for local suppliers and contractors. Construction is anticipated to commence in early 2026, with completion expected in Q3 2028.</p>


Joel Robinson

Monaco Property Group approved for $500 million NALU apartments on Miami beach

<p>The most elevated residential tower in Palm Beach, <a href="https://www.apartments.com.au/new-apartments/corallo-palm-beach-5-palm-beach-avenue-palm-beach-qld-4221">Corallo</a>, has officially launched this week, however only a handful of buyers will have an opportunity to buy in to the 17-storey project.</p>

<p>The $200 million mixed-use project includes ground floor dining and retail and is considered so valuable its developer, <a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a>, will be staging its release of one-, two- and three-bedroom apartments and penthouses to the market.</p>

<p>[smartcode_project:default project_id=112194 project_image_fid=806]</p>

<p><a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> International, Director, David Higgins, said the development’s location just metres from the beach on the corner of Palm Beach Avenue and the Gold Coast Highway influenced the sculptural design by the acclaimed Plus Architecture studio.</p>

<p>“<a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a> locals understand the rare opportunity here at Corallo, particularly being the tallest building in the suburb and its proximity to the beach and local restaurants, and they’ve represented the bulk of pre-launch enquiries,” Higgins said.</p>

<p>“The orientation of the apartments captures views of the coastline from Surfers Paradise to Currumbin, and the diversity of floor plans and apartment types provide an exceptional level of choice.</p>

<p>“The first release includes just 59 one-, two and three-bedroom apartments and two half-floor penthouses, with flexible use designed to appeal to both owner-occupiers and investors."</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=112194 project_image_fid=799]</p>

<p>In addition to the ground floor amenity, residents will also have access to a private dedicated wellness level offering 734 sqm of resort-style amenities including a pool, cold plunge, wet deck, steam room, sauna, gym, day bed, fire pit, barbecue area, dining area and yoga/stretch deck.</p>

<p>The project is located within walking distance of Tallebudgera Creek, Burleigh Heads village, Currumbin Alley and Palm Beach Currumbin High School. The Gold Coast Airport is under 10 minutes away.</p>

<p>[smartcode_project:default project_id=112194 project_image_fid=814]</p>

<p>Higgins said Palm Beach remained a hotly contested suburb for home buyers, with prices doubling in the past five years.</p>

<p>“What makes Corallo so appealing to the local market is the diversity of apartment types and pricing, with one-bedroom apartments starting from $841,000 and two-bedroom apartments starting from $1.34 million,” he said.</p>

<p>“The ground floor retail and dining offering will further expand on Palm Beach’s village atmosphere and create a meeting place for locals, and those opportunities for connection are highly valued.”</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=112194 project_image_fid=807]</p>

<p>The on-site sales display, which includes a fully fitted kitchen, bathroom and bedroom, will be open until early works commence in Q1 2026. Each residence at Corallo will feature premium finishes including natural stone, artisanal brickwork, and warm copper accents.</p>

<p>Changfa Group has a two-decade history of delivering premium developments in Australia and internationally, having recently completed its collection of premium townhomes at Lyra, Hope Island, as well as apartment projects in Leichhardt, Carlingford, and Chatswood in New South Wales.</p>

<p>[smartcode_project_cta:default project_id=112194]</p>


$200 million Corallo Palm Beach launches with limited apartment release

<p>In a move that aligns with NSW's accelerated planning incentives for affordable housing, developer&nbsp;<a href="https://www.apartments.com.au/developers/the-one-collection">One Collection</a> has revised its Hills District apartment plans, and taken it to the NSW Government, to secure approval.</p>

<p>The developer, which is currently delivering Horizon Hurstville, is seeking to add 80 more apartments to its <a href="https://www.apartments.com.au/new-apartments/the-one-castle-hill-16-dawes-avenue-nsw-2154">Castle Hill development</a> near Castle Towers. They already have approval for 280 apartments across eight six-storey buildings.</p>

<p><img alt="One Collection" data-entity-type="file" data-entity-uuid="b3c298ba-1cc5-4db7-9872-607c75f8ceca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.22%E2%80%AFAM.png?VersionId=wN9KpFIu5ENSGZLLsaZgXQHrXcwEO3Vd" /></p>

<p>Now on the desks of the NSW Department of Planning is 360 apartments, 48 of which will be dedicated to affordable housing.&nbsp;Affordable housing is to be “fully integrated within the building and visually indistinguishable,” according to the planning submission.</p>

<p>The 15,697 sqm block, an amalgamation of 16 sites, spans across Dawes Avenue, Hughes Avenue, and Camdan Crescent, sits 550m from Hills Showground Metro Station.&nbsp;</p>

<p>"The existing context is quickly changing from free-standing homes into residential flat buildings in line with the Hills Showground Precinct planning framework," Place Studio noted.</p>

<p><img alt="Castle Hill" data-entity-type="file" data-entity-uuid="3ec24948-c185-48fa-af8b-ed25adf302bf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.04%E2%80%AFAM.png?VersionId=zNDX.IeRROX1RlDeYcS38xn8w_dqgU2t" /></p>

<p>They said the design was informed by the site's unique condition of having three street frontages and was developed to to respond sensitively to iots surrounding context.</p>

<p>"The design adopted a conventional perpendicular alignment to the primary street frontage. The massing of the development was carefully modulated to align with the evolving character of the neighbourhood. The design ensured that the scale was not excessive or out of context, but instead contributed to a cohesive urban form consistent with emerging developments in the area."</p>

<p><img alt="Castle Hill" data-entity-type="file" data-entity-uuid="f83ffdaa-f960-469d-b6fe-abcece57c9ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.09%E2%80%AFAM.png?VersionId=4oKlCyfaKes7jLi1_EMoqa46w2h_YvDZ" /></p>

<p>The apartment mix will be 46 one-beds, 168 two-bed apartments, and 146 three-bedroom units, with 631 parking spaces proposed.</p>

<p>Along the street frontages, the building heights are four storeys with a 7.5 metre setback, and eight storeys with an 11.5 metre setback. It should cost about $150 million to build.</p>

<p>One Collection works hand-in-hand with the respected development and construction firm Masscon, which has built a reputation for leveraging its expertise in the built environment to take on developments others can't. That's what they're achieving at Horizon Hurstville, having taken over the project to deliver it.</p>


First look: One Collection advances plans for Castle Hill apartments

<p>At Yarra’s Edge, <a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a>’s newest tower under construction, <a href="https://www.apartments.com.au/new-apartments/trielle-at-yarra-s-edge-docklands-16-point-park-crescent-docklands-vic-3008">Trielle</a>, sets a new benchmark for elevated living. Rising 45 storeys, 12.5 metres from the Yarra River, the landmark building offers residents access to a private wellness retreat and spa, a resident-only golf simulator, and an elegant lounge, dining and bar complete with a self-playing piano, all without ever having to leave home.</p>

<p>Now, that sense of elevation has reached new heights with the Aerus Sub-Penthouses, a limited release of half-floor riverfront residences on the Collins St axis where the sought-after street meets the Yarra River.</p>

<p>Each Aerus Sub-Penthouse, located across levels 42 and 43, represents the most expansive offering within Trielle, aside from the yet-to-be-revealed crowning penthouses. Spanning between 269 and 301 sqm, these residences are designed to capture natural light and uninterrupted views of the city skyline, Yarra River, and Port Phillip Bay.</p>

<p>[smartcode_project:default project_id=114216 project_image_fid=3784]</p>

<p>Among the collection are three-bedroom sub penthouses, complemented by a media room, and expansive four-bedroom layouts. All include panoramic living areas and oversized master suites with luxury ensuites reminiscent of a five-star hotel, complemented by dedicated dressing rooms finished in timber and natural stone.</p>

<p>The interiors have been crafted by <a href="https://www.apartments.com.au/architects/mirvac-design">Mirvac Design</a>, the developer’s award-winning in-house architecture and design team. Every material has been chosen for quality and longevity, from sculpted stone island benches with feature soft wash LED lighting to bespoke joinery and chevron timber oak flooring.</p>

<p>Kitchens are fitted with a BORA induction cooktop with integrated downdraft extractor, alongside Gaggenau appliances, including a fridge, freezer, and wine fridge. The adjoining butler’s pantry incorporates the exclusive Gaggenau Minimalistic Series including oven, steam oven, microwave, coffee machine and warming drawer, all concealed behind handleless glass panels for a clean, integrated presentation. Bathrooms feature custom Apaisar freestanding baths and basins and natural stone benchtops, continuing Mirvac’s design emphasis on tactile, timeless materials.&nbsp;</p>

<p><img alt="Trielle at Yarra's Edge, Docklands" data-entity-type="file" data-entity-uuid="c00be724-b0f1-47c0-afed-54f829870704" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerus%20sub-penthouse.png?VersionId=Uktd61kpLSqNjwJeDFs7IaZ3xgLlDQmu" /></p>

<p>Michael Wiener, Design Director at Mirvac, says The Aerus Sub-Penthouse embodies the apex of Mirvac’s design ethos.</p>

<p>“Moving through your home is like walking on air - a private sanctuary where the craftsmanship is refined, the proportions generous, and the flow so effortless, you feel completely at ease in the sky,” Wiener says.</p>

<p>“In Aerus, we wanted to create a sense of weightlessness - a home that feels suspended in the skyline, full of light, grounded in luxury.”</p>

<p>[smartcode_project:default project_id=114216 project_image_fid=3777]</p>

<p>The Aerus Sub-Penthouses are expected to attract a mix of local and international buyers seeking a long-term residence of scale and quality in a riverfront setting, from returning expats to established families and business owners who value privacy, craftsmanship, and convenience within walking distance of the CBD.</p>

<p>With an unmatched suite of amenities, Trielle is the most extensively appointed development Mirvac has created to date at Yarra’s Edge. Within the tower will be The Oasis, a 900 sqm podium rooftop wellness retreat designed in collaboration with spa expert Naomi Gregory. Located seven storeys above the Yarra River promenade, it features a 25-metre lap pool, spa and sauna, hot magnesium spa, biophilic gym, yoga and Pilates studio, cold-pail contrast treatment, and day spa treatment rooms. Further amenities include a piano lounge, bookable dining room, cinema room, golf simulator studio, games room, teppanyaki bar, dog wash bay, and two flexible work hubs, The Biblioteca library and Mills Place office space, catering to residents’ evolving lifestyle needs.</p>

<p>Construction of the $350 million tower is underway through Mirvac’s in-house construction arm, with completion anticipated for mid-2027.</p>

<p>[smartcode_project_cta:default project_id=114216]</p>


Sky-high sanctuaries: Mirvac unveils The Aerus sub-penthouses at Trielle

<p><a href="https://www.apartments.com.au/developers/jwland-development">JWLand</a>’s De Burgh, the final residential release within the Northbourne Village precinct in Lyneham, is nearing completion just as the Federal Government’s Home Guarantee Scheme prepares for its most significant expansion to date.&nbsp;</p>

<p>From October 2025, the scheme will allow first home buyers to enter the market with just a five per cent deposit and no lenders mortgage insurance (LMI), removing some of the most common barriers to ownership.</p>

<p>With <a href="https://www.apartments.com.au/new-apartments/de-burgh-at-northbourne-village-40-de-burgh-street-lyneham-act-2602">De Burgh</a> on track for residents to move in by late spring 2025, the timing creates a strong opportunity for first home buyers seeking brand-new apartments in Canberra’s sought-after Inner North.&nbsp;</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212888]</p>

<p>The project delivers 350 residences across two buildings, with layouts ranging from compact studios through to one, two, and three-bedroom apartments.</p>

<p>JWLand has tailored the development for long-term liveability, integrating natural light, privacy and outdoor space into each home. Ground-floor residences feature private courtyards, while upper levels benefit from generous balconies.</p>

<p>Kitchens are fitted with Fisher &amp; Paykel appliances, and all apartments include ducted reverse-cycle air conditioning with smartphone app control for lighting and climate.&nbsp;</p>

<p>Shared resident facilities include a rooftop garden, gym, lounge and parcel lockers, alongside landscaped green space within the precinct.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=267376]</p>

<p>For buyers, the expanded Home Guarantee Scheme removes income caps and introduces unlimited places, making it more accessible than ever. With most De Burgh apartments priced under $1 million, they fall well within the updated eligibility thresholds.</p>

<p>The policy changes provide first home buyers with greater certainty and a smoother path to finance. Combined with the quality and location of De Burgh, the expanded scheme is expected to draw a new wave of buyers to Canberra’s Inner North.</p>

<p>Residents will benefit from the project’s central setting, just 600 metres from the light rail and three kilometres from Canberra’s CBD. The precinct is bordered by the <a href="https://www.apartments.com.au/developments/lyneham-act-2602">Lyneham</a> wetlands and sits within easy reach of cafes, restaurants, schools and the ANU.</p>

<p>With completion scheduled for late 2025, De Burgh is set to be among the first major apartment projects to meet the expanded scheme head-on, offering first-time buyers a realistic pathway to ownership in one of Canberra’s most connected neighbourhoods.</p>

<p>[smartcode_project_cta:default project_id=139989]</p>


JWLand’s De Burgh aligns with expanded Homebuyer Scheme, opening doors for first home buyers in Canberra’s Inner North

Apartment Sales

<p>The March 2021 quarter saw a 10.8 percent quarterly increase in sales volumes in the Northern Territory, according to the Real Estate Institute of Northern Territory (REINT).</p>

<p>It was accompanied by price rises in the Top End property market.</p>

<p>The March 2021 Quarter sales volumes was up a solid 51.1 percent from last year.</p>

<p>The unit/townhouse market showed equally strong results to start the year with sales up by 4.3 percent for the quarter and up 43.3 percent annually.&nbsp;</p>

<p>[smartcode_project:default project_id=29898]</p>

<p>The median price of a 2-bedroom unit continued to climb, up 3.1 percent this quarter to $330,000, which is a 9 percent increase on last year.</p>

<p>Palmerston had very solid sales in units this quarter, up 29.4 percent for the quarter with the median coming up 30.6 percent to $320,000.&nbsp;</p>

<p>The median price of a 3-bedroom house also saw solid gains, up 9.4 percent in the quarter to come in at $547,000. &nbsp;&nbsp;&nbsp;</p>

<p>Palmerston had a strong sales volumes with 115 properties sold &ndash; up 13.9 percent quarterly and up 62 percent annually. &nbsp;&nbsp;</p>

<p>The Palmerston median price also lifted by 7.5 percent to $500,000, which was 17.6 percent higher than March quarter 2020.</p>

<p>Alice Springs quietened a little with 77 transactions, up 71 percent annually in volumes, to a median house price of $469,000.</p>

<p>Alice Springs saw a quieter quarter for unit sales volumes, but did see a small increase in median price to $360,000.</p>

<p>Residential land sales continued very strongly in the March Quarter with blocks under 600sqm lifting by 128.6 percent for the quarter or 242.9 percent annually.&nbsp;</p>

<p>The median price was reasonably steady at $191,000.&nbsp;</p>

<p>&ldquo;The rental market continued to perform very strongly for investors and landlords&rdquo;, stated Quentin Kilian, chief of the Real Estate Institute of Northern Territory (REINT).&nbsp;</p>

<p>Rents on 3-bedroom houses rose 6 percent in the quarter to $538.50 per week, which is an annual rise of 17.3 percent. &nbsp;</p>

<p>Units were fairly static for March, moving up just 0.1 percent to $364.00 per week, however that is 10.3 percent up from March 2020.</p>

<p>Rental yields relaxed a little in March but remained very strong at 5.1 percent for houses and 5.7 percent for units. &nbsp;&nbsp;</p>

<p>&ldquo;We remain one of the best investor markets in Australia with the strongest rental yields of any Australian capital city, and the yields in Katherine and Alice Springs regularly exceed 6 percent&rdquo;, said Mr. Kilian.&nbsp;</p>

<p>Vacancy rates have tightened again from December, coming back to 1.8 percent across Greater Darwin; 1.6 percent in Palmerston and 2.4 percent in Alice Springs. &nbsp;</p>

<p>Unit vacancies in the rural area have hit 0 percent.&nbsp;&nbsp;</p>


The March 2021 quarter saw a 10.8 percent quarterly increase in sales volumes according to the Real Estate Institute of Northern Territory (REINT)

jchancellor

Northern Territory two bedroom unit prices up 3.1 percent to $330,000

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<p>Record low interest rates and rising house prices are sustaining the new home construction market confidence into 2021, according to the HIA’s economist, Angela Lillicrap.<br>
 <br>
The latest HIA New Home Sales report shows sales in the three months to February 2021 were up 60 per cent on the same three months in the previous year. </p>

<p>"This strong result reflects the significant impact of HomeBuilder on demand for detached housing,” said Ms Lillicrap.<br>
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“HomeBuilder was the catalyst for improving consumer confidence in the housing market."<br>
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She noted the December 2020 surge of new home sales as households rushed to finalise contracts to build a new home before the end of the $25,000 grant.<br>
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The HomeBuilder grant is now at $15,000 until March 30.</p>

<p>“We expect a surge in sales in March but due to the lower grant offering, this surge will not be as large as the December 2020 surge."<br>
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“To receive the HomeBuilder grant, construction is required to commence within six months of signing a contract to build. As a consequence, it is possible that builders will delay the signing of some contracts to allow for greater flexibility and more detailed planning of projects."</p>

<p><img alt="" height="1264" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/hia_2021_graph.jpg" width="2068"></p>

<p>Sales in the three months February 2021 increased across Australia compared to the same time the previous year. </p>

<p>South Australia is up by 149 per cent, followed by Victoria (+69 per cent) and Queensland (+60 per cent). New South Wales increased by 46 per cent and Western Australia is up by 25 per cent over the same period.</p>

<h2><strong>Recently listed properties:</strong></h2>

<p>[smartcode_project:default project_id=27575]</p>

<p>[smartcode_project:default project_id=2929]</p>

<p>[smartcode_project:default project_id=29048]</p>
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Sales in the three months February 2021 increased across Australia compared to the same time the previous year. 

March to see mini HomeBuilder surge in new home sales: HIA

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<p>Prahran had the top Melbourne auction result on the weekend with a mooted development site selling at $3.6 million.</p>
<p><a href="https://www.realestate.com.au/sold/property-house-vic-prahran-128438542" target="_blank">The 76 Williams Road offering</a> (pictured above) was listed through RT Edgar inconjunction Gross Waddell.</p>
<p>It was a block of five, two bedroom apartments, on separate titles returning $98,016 p.a.</p>
<p>The total land area of 975m2 featured two street frontages, with access via Russell Street.</p>
<p>It was within a short walk to the High Street shops and restaurants, nearby parklands and transport.</p>
<p>Each apartment comprises two bedrooms, open plan kitchen/living room, one bathroom and one car space.</p>
<p>It came with four monthly tenancies and one lease terminating February next year.</p>
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j.ballantyne1990-6AQqhLzZaK

Block of five Prahran apartments sells for $3.6 million.

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<p>Despite a surging population and record high levels of new construction, a lower proportion of housing stock is selling. </p>
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<p>The analysis, paired annual settled sales data with dwelling counts over time to show that the proportion of total housing stock turnover on an annual basis. </p>
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<p>The analysis found that over the 12 months to September 2017, just 5% of the national housing stock transacted; the lowest proportion of stock-turnover since April 2012 when it was at an historic low of 4.9% of stock transacted. Over the nine years of data available, an average of 5.5% of the national housing stock transacts in a given year.</p>
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<p>Across the combined capital cities, a record-low of 4.7 percent housing stock transacted over the past year which was well down on the 5.6% average. Across the combined regional markets, 5.6% of housing stock transacted which was slightly higher than the 5.5% average. In both the capital city and regional housing markets stock turn-over is slowing. </p>
<p><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/2017/10/26/Total.jpg" alt=""></p>
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<p>Housing turnover is impacted by supply and demand factors. From the demand side of things the contributors are the rate of population growth, growth in household incomes, levels of investor demand and accessibility to credit. </p>
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<p>From the supply side the factors include the level of new housing construction and how much stock is actually available for sale at any given time. Other factors include the costs associated with buying and selling properties as well as government policies such as incentives for first home buyers.” </p>
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<p>Across the states and territories, the trends are interesting: </p>
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<p>NSW: In Sydney an historic low 4.7% of housing stock transacted over the past year and in regional NSW the figure was 5.9%. In each region turnover has slowed. </p>
<p><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/2017/10/26/NSW.jpg" alt=""></p>
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<p>Vic: Historic low 4.4% of Melbourne housing stock turned-over throughout the past year compared to 4.9% of regional Vic stock. Both of the regions are seeing a fall in turnover.</p>
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<p>Qld: Stock turnover is well above record lows in Brisbane (5.8%) and regional Qld (5.8%). Brisbane turnover is only slightly below average (5.9%) while regional Qld turnover is at average levels. </p>
<p><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/2017/10/26/QLD.jpg" alt=""></p>
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<p>SA: Turnover is fairly steady in SA recorded at 5.7% in Adelaide and 5.8% in regional SA. In each region turnover is slightly above long- term average levels. </p>
<p><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/2017/10/26/SA.jpg" alt=""></p>
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<p>WA: After a large fall over recent years, turnover has stabilised at a record low in Perth (3.6%) and has increased slightly from record lows in regional WA (4.2%). </p>
<p><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/2017/10/26/WA.jpg" alt=""></p>
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<p>Tas: In Hobart, 5.9% of housing stock sold last year compared to a long-term average of 5.4% annually and in regional Tas 6.1% of stock sold compared to a long-term average of 5.3% </p>
<p><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/2017/10/26/Tas.jpg" alt=""></p>
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<p>NT: 4.2% of housing stock transacted over the past year in Darwin and 4.7% of stock in regional NT. There has been a significant fall in turnover across the state as dwelling values have fallen.</p>
<p><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/2017/10/26/NT.jpg" alt=""></p>
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<p>Canberra: Over the past year, 4.8% of housing stock sold which is an historic low level. </p>
<p><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/2017/10/26/Canberra.jpg" alt=""></p>
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<p>The figures are stark given just how little of the Australian housing market actually sells in any given year.</p>
<p>A big driver of the low level of turnover over the past year has been relatively low levels of stock for sale, particularly in our largest capital cities and the high costs associated with stamp duty when buying a property.</p>
<p>The impost of stamp duty discourages turnover as we have recently seen with the removal of stamp duty for first time buyers under certain price thresholds in NSW and Vic.</p>
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<p>Once removed there has been a surge in housing finance commitments by first home buyers.</p>
<p>The final consideration for the low turnover is the high cost of housing in Australia, because the cost is high it is a significant consideration for households as to whether or not to purchase a property. </p>
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Dwelling construction surges yet housing turnover falls

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<p>It was Wolli Creek where the price weakness was evident amid weekend sales.</p>
<p>There was a $605,000 sale when the two bedroom at 128/88 Bonar Street was sold.</p>
<p>It had previously traded at $628,000 in 2015. </p>
<p>Not a huge loss, but bigger once legal and estate agency selling costs are factored in.</p>
<p>The apartment is situated in the Sorrento complex were the facilities for residents include a heated pool, spa, gym, sauna and a playground for the children.</p>
<p>It is the second time the price has backtracked since first sold by Meriton at $395,000 in 2002, then selling seven years later at $315,000.</p>
<p>It was marketed as the most affordable two bedroom available in Wolli Creek by the Richardson &amp; Wrench selling agent Nick Atanasovski who suggested a $600 a week anticipated rental return.</p>
<p>CoreLogic calculate Wolli Creek has some 4500 plus apartments, and put its median unit value at $720,000 which is back at 2015 levels.</p>
<p>The $630 median rental sits at levels first seen in 2017.</p>
<p>The sales of the 125 units sold this year have ranged from $475,000 to $1.4 million for a penthouse.</p>
<p>A $1.13 million sale had been sold at $1,172,000 off the plan in 2016. Another sold recently for $784,000 haven initially been traded at $820,000.</p>
<p><em>This article first appeared in </em>The Daily Telegraph.</p>
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Price weakness shows at Wolli Creek apartment sale

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<p><span>A two-bedroom Surry Hills apartment sold last weekend for $1,002,000 to an investor.</span></p>
<p><span>Selling agent James Ledgerwood of The Agency Eastern Suburbs advised there were four registered bidders at the auction where bidding finished $2000 above reserve.</span></p>
<p><span>The vendor recorded a loss as it last sold for $1.1 million in 2016</span>.</p>
<p><span>The loss was 10 percent plus costs.</span></p>
<p><span>The sale price was withheld on the listing websites.</span></p>
<p><span>The </span>36/45-49 Holt Street apartment was in the Habitat building.</p>
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Loss in Surry Hills as property investor spends $1,002,000

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<p>Ultiqa Hotels &amp; Resorts has purchased the management rights for the upcoming Little Projects 256-apartment project, Signature Broadbeach through Resort Brokers.</p>
<p>Over 20 local and international groups sought the opportunity to secure the 25-year term agreement covering Signature’s maintenance, letting and real estate rights.</p>
<p>On listing The Urban Developer noted Little Projects <span>expected to see offers over $15 million.</span></p>
<p>“The management rights to quality buildings of scale are increasingly hard to come by on the Gold Coast, particularly in Broadbeach, where both tourism and real estate markets remain buoyant,” said Little Projects director, Leighton Pyke.</p>
<p>Positioned in the heart of Broadbeach and minutes from patrolled beaches, cafes, public transport, the Star Casino and Pacific Fair Shopping Centre, Signature Broadbeach was the top selling project for the Gold Coast in Q1 and Q2 2018.</p>
<p>On listing last July, <span>Little Projects had reported more than 100 of the luxury units already under contract.</span></p>
<p><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/2019/1/9/BroadBeach%202.jpg" alt=""></p>
<p><span><span>Designed by Rothelowman architects in collaboration with SJB Interiors, </span>Signature Broadbeach will feature 49 one-bedroom, 192 two-bedroom and 11 three-bedroom apartments, all with Miele appliances and stone benchtops.</span></p>
<p>Each of the 256 residences have access to a 50-metre infinity edge pool, a gymnasium, onsite cafe and private cinema.</p>
<p>With the addition of Signature, ULTIQA’s current portfolio is valued at $60 million.</p>
<p>“Signature Broadbeach is a significant addition to our portfolio and represents an exceptional standard of well-appointed apartments in excellent locations,” said ULTIQA’s Chief Executive Officer, Mark Henry.</p>
<p>Signature Broadbeach will commence construction in early 2019 and is expected to be completed within 2 years.</p>
<p>Residences at Signature are for sale starting at $495,000 for one-bedroom, $619,000 for two-bedroom and $1.325 million for three-bedroom dwellings.</p>
<p><span>Last July it had prices starting from $483,000 and up to $2.25 million.</span></p>
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Little Projects sells Signature Broadbeach management rights to Ultiqa

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<div style="text-align: left;" align="center">Property NSW, acting for F&amp;C Services, have announced the sale of the last four government-owned properties on High Street.</div>
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<div>The Millers Point properties, opposite Barangaroo, and each containing four two-bedroom apartments, were sold at auction by McGrath Estate Agents yesterday.</div>
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<div>The sales included:</div>
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<div>- 2-4A High Street (above) sold for $5.5 million</div>
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<div>- 6-8A High Street sold for $5.56 million</div>
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<div>- 14-16A High Street sold for $5.42 million</div>
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<div>- 34-36A High Street sold for $5.446 million.</div>
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<div>A total of 184 Government sales have occurred in Millers Point since 2014.</div>
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<div>It’s anticipated the sales program will be finalised by the end of 2018 with the sale of the remaining seven properties.</div>
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<div>Proceeds from the Millers Point sales program have delivered over $591 million for investment in new social housing developments in NSW.</div>
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<div>As of May 2018, a total of 977 units have been completed and 255 units are currently under construction as a result of the Millers Point sales.</div>
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<div>Developments are occurring in areas of identified need for social housing, including the Bankstown, Canterbury, Liverpool and Fairfield areas and the Sutherland and Wollongong areas.</div>
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<div>Conservation Management Plans (CMPs) endorsed by the NSW Heritage Council are included in contracts for sale for all heritage listed properties.</div>
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<div>These contracts ensure new property owners are fully informed of their responsibilities when purchasing a heritage listed property.</div>
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Four High Street NSW government-owned properties sold at Millers Point

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<p>Construction of what will be the highest residences in the Southern Hemisphere when completed, has hit its first major milestone, with the first residents set to move into Australia 108 in Southbank, Melbourne, in June.</p>
<p>Builder Multiplex has handed over the first portion of the building, comprising 277 apartments located between levels 14 and 30.</p>
<p>Construction of the remaining floors above continues to progress rapidly.</p>
<p>The early residents will have access to some of Australia 108’s extensive amenities, with construction of its lap pool and gym area on level 11 having been completed, along with two levels of car parking.</p>
<p>Residents will access their luxury apartments via a fully completed private lobby, with workers accessing the building through separate entrances not visible to residents.</p>
<p>Multiplex envisaged multiple staged handovers, which will see the building completed in several portions.</p>
<p>World Class Global CEO David Ng said it was a historic moment for his iconic project, which is not only on its way to becoming Melbourne’s tallest building but will also house the highest residences in the Southern Hemisphere.</p>
<p>“We extend a warm welcome to all of our inaugural residents who will now call this iconic address home.”</p>
<p>Multiplex regional managing director Graham Cottam said the project was on track for completion in the next two years following a rapid construction process, with the core structure up to level 59 and slabs at level 53.</p>
<p>He noted the glass façade was around 2,500 tonnes of glass spanning 47,000 square metres.</p>
<p>Commencing construction in November 2015, foundation works on Australia 108 took almost nine months to complete, with some of the most substantial piling works undertaken in Melbourne to date.</p>
<p>Drilling went 46 metres deep, with 1950 millimetre thick core walls used in order to strengthen the cloud-breaking building.</p>
<p>The tower’s eye-catching golden Starburst, which will house two full floors of private amenity including two pools 210 metres above street level, is expected to be lifted into place early next year.</p>
<p>Ng said there were only a small number of apartments left in the tower, and opportunities to purchase a home at the iconic address were limited.</p>
<p>To date more than $872 million in sales have been made, with the first handover providing World Class Global with approximately $147 million in recognised revenue.</p>
<p>Priced from $1,957,000, the group of 19 apartments are all located above level 71, offering some of the best views in Melbourne over the CBD and out to Port Phillip Bay.</p>
<p>Launched for sale in November 2014, Australia 108’s 1,103 apartments sold rapidly, with the 750-square metre penthouse setting the record for Australia’s most expensive apartment when it sold to a Chinese national for $25 million in April 2015.</p>
<p>This July, the public will have a chance to see inside Australia 108, with the building included in this year’s Open House Melbourne program. Fender Katsalidis will be hosting tours of the site on Saturday 28 and Sunday 29 of July.</p>
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