<p>Brisbane-based builder-developer <a href="https://www.apartments.com.au/developers/bpg-developments">BPG Developments</a> has secured approval for its $250 million Newstead apartment tower.</p>

<p>The building, at <a href="https://www.apartments.com.au/new-apartments/16-22-maud-street-newstead-qld-4006">16-22 Maud Street</a>, will have 103 apartments across the 15-level building which will be crowned with a rooftop wellness facilities.</p>

<p>Residents will range from expansive two-bedroom residences, through to several penthouses on level 15. There will be 1,380 sqm&nbsp;dedicated to wellness-inspired amenities including shaded outdoor dining nooks, a fire pit, barbecue area, sunset lounge, gym, yoga deck, magnesium lap pool, sun deck, a sauna, steam room, and cold plunge pool.</p>

<p>BPG put together the 2,430 sqm super-site combines three separate titles – a vacant warehouse, an electrical &nbsp;wholesaler and an industrial shed, which were acquired in two separate transactions over a 12 month period. &nbsp;</p>

<p><img alt="BPG Developments secures development approval for $250 million Newstead project" data-entity-type="file" data-entity-uuid="d007d4fb-9c44-4e54-b79e-50b68711ebbd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Final%2012_Podium%20Plaza%20View_r.jpg?VersionId=w6zql5hPjAp3j1..ZTCaYLzN65Ora8Z2" /></p>

<p>BPG was founded by industry veterans Nick Parr and Glen Williams. Parr said the project feels like a "coming home of sorts" for the pair, as they've both spent&nbsp;both spent the majority of their lives living in Brisbane's inner north. &nbsp;</p>

<p>“I lived just up the road in Teneriffe for most of my childhood," Parr said.</p>

<p>"We saw this site as an opportunity to deliver a timeless project in arguably Brisbane’s most popular suburb, where &nbsp;the standard for luxury design and amenities is incredibly high."</p>

<p>Parr believes Brisbane is in a bit of a "sweet spot" currently, in that&nbsp;construction prices have stabilised and demand has continued to climb which means the market is tightening up.&nbsp;</p>

<p>“The Brisbane market is unique in that there is no shortage of sites with existing development approvals, the issue is around the availability of builders who can deliver such projects. We are one of the few builder-developers who can build our own projects at scale &nbsp;so we are able to move quickly into delivery mode which gives confidence to our purchasers.” &nbsp;</p>

<p>Williams said they are proud of the project both&nbsp;in the sense of the significance of the site, but also in the quality and timelessness of the design. &nbsp;</p>

<p>“At BPG Projects we are conscious to prioritise quality over volume, so we tend to &nbsp;approach one project at a time," Williams said.</p>

<p>“For us we are motivated by creating a lasting legacy in our projects, so working with Plus &nbsp;Architecture to realise this vision has been a rewarding journey.” &nbsp;</p>

<p>BPG has appointed MOTIV to handle the sales and marketing of the new tower, which is expected to launch early next year. MOTIV Founder Carly Cottam said the project epitomises everything Newstead is about.</p>

<p>"Newstead is a huge success story in the revitalisation of Brisbane, and as a result it’s now one of the most popular inner suburbs, characterised by its exceptional urban design and wellness-driven lifestyle," Cottam said.</p>

<p>“We know this market values flexibility in floorplates, abundant storage and really liveable &nbsp;kitchens and interiors. That’s why designing an entire building around the owner occupier market with 100 &nbsp;percent of the floorplates representing two or three-bedroom residences mean this project is primed to appeal to the right audience.” &nbsp;</p>

<p>BPG completed Sable Palm Beach on the Gold Coast in 2019, and has plans for more developments in the suburb, as part of their $500 million development pipeline.</p>


Joel Robinson

BPG Developments secures development approval for $250 million Newstead project

<p>With three projects currently in market in Elizabeth Bay and Mosman, two of which are under construction and completing next year, apartment developer Toohey Miller is expanding its new development pipeline across Sydney.</p>

<p><a href="https://www.apartments.com.au/developers/toohey-miller">Toohey Miller</a>, led by Nick Couloumbis, has filed plans for <a href="https://www.apartments.com.au/new-apartments/oxford160-160-oxford-street-paddington-nsw-2021">Oxford160</a>, 44 new apartments across a nine-storey building on Oxford Street in Paddington. It will have 12 apartment designated as affordable housing as per the Housing SEPP 2021 mid-rise reforms which trigger increased height limits, and street-level retail spaces.</p>

<p>The vision for the project is to create a "welcoming and family-friendly place to live with a mix of quality and affordable homes to support the Paddington community at different life stages."</p>

<p>Designs prepared by Smart Design Studio outline a contemporary, articulated streetwall along Oxford Street, stepping back at the upper levels to mitigate bulk and improve visual integration with the local character. A new laneway will improve pedestrian connectivity to Shadforth Street, while communal open spaces are integrated at both ground and rooftop levels.</p>

<p><img alt="Oxford160" data-entity-type="file" data-entity-uuid="0d6e77ed-8c25-4c52-a82d-dd076c66c777" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-01%20at%209.52.46%E2%80%AFAM.png?VersionId=hjYcxIWIDOn7JWeom6RzIz7MWc1VG6HF" /></p>

<p>According to the Urban Design Supporting Letter prepared by architect and urban designer Matthew Pullinger, the new scheme “represents a contextually sensitive, responsive and high quality renewal of the site and the broader urban landscape”.</p>

<p>Pullinger said there are a range of benefits to the project, namely its contribution to the renewal of "this part of Oxford Street as a distinctive higher density urban high street and a defining element of greater Sydney’s urban character, thereby enhancing the vitality and liveability of this important street."</p>

<p>The new building will replace&nbsp;a dated 1960s-era apartment block which has 27 studio apartments.&nbsp;Design documents note that the current structure detracts from the character of Oxford Street, with the proposal seeking to restore and enhance the continuity of active shopfronts along the northern edge of the street.</p>

<p>The last project to launch on Oxford Street sold out immediately. It was fashion legend Robby Ingham's The Cambrian, which sold all of its 15 apartments in the first five hours of its weekend launch in 2023 through Ben Stewart.</p>


Toohey Miller plans rare new apartment development on Oxford Street, Paddington 

<p><a href="https://www.apartments.com.au/developers/geocon-group">Geocon</a>&nbsp;is advancing its plans for its new&nbsp;mixed-use precinct in Braddon, updated the designs for the prominent site at the intersection of Northbourne and Wakefield Avenues.</p>

<p>The Canberra-based developer is proposing 558 apartments and seven commercial tenancies across four buildings under a staged application first lodged in 2023. The project also includes four levels of basement parking, communal spaces, pedestrian links, and landscaping enhancements.</p>

<p>While the development’s scale remains consistent, the current amendment introduces extensive changes to apartment layouts, building envelopes, façade articulation, and basement design.</p>

<p>According to the Design Statement by <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a>, these adjustments were driven by two core objectives: “enhancing apartment and common area amenity” and “ensuring acknowledgement of the housing design guidelines, entity advice, and planning expectations, while retaining the integrity of the original architectural concept”.</p>

<p><img alt="Northbourne and Wakefield Avenues" data-entity-type="file" data-entity-uuid="066194ad-d73f-49b7-8e39-09e20690a7ac" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202.png?VersionId=I7eLnim8erdwd2Yu1N5sIcLSndeOK_TC" /></p>

<p>The revised apartment mix has been rebalanced to increase diversity and affordability, including a broader range of unit sizes and a higher proportion of three-bedroom dwellings. The updated design also removes problematic layouts, such as “snorkel” bedrooms and internalised studies, to improve liveability and natural light access.</p>

<p>Cox Architecture noted that “studios and smaller one-beds provide entry-level housing and broaden affordability,” while the number of family-sized three-bed apartments has been increased “in direct response to market demand and policy objectives”.</p>

<p>The circulation spaces within the towers have been redesigned to improve wayfinding and daylight penetration, while the ground floor layout has been reworked to create clearer and more visible entry points, particularly from Northbourne Avenue.</p>

<p>Refinements to the building’s massing and façades have also been introduced in response to planning feedback, with additional breaks and articulation to reduce perceived bulk. “Rooftop plant and lift overruns have been integrated and screened, resolving visibility concerns,” COX stated.</p>

<p>Basement levels have been consolidated and made more efficient, with improvements to bike and storage facilities.</p>

<p><img alt="Northbourne and Wakefield Avenues" data-entity-type="file" data-entity-uuid="a1ab9357-707d-46fd-95d7-d6e09c70f20b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%203.png?VersionId=crDXvrmDsGqFGcb_p6NSUlsr0vYsRacq" /></p>

<p>The precinct’s pedestrian connections have been clarified, and the public realm has been restructured to improve permeability and align with the broader Northbourne corridor urban design framework. Landscaping updates include increased deep soil zones and rooftop communal areas, with tree management to be addressed separately.</p>

<p>Geocon acquired the 10,633 sqm site earlier in 2023 following approval of a prior build-to-rent scheme by Evri Group. The existing nine-storey commercial building was demolished in 2022.</p>

<p>The current proposal, designed by Cox Architecture, is positioned as a key contributor to the ACT Government’s urban renewal vision for Northbourne Avenue, an established transport and development spine served by light rail and major arterial roads.</p>


First look: Geocon refines plans for four-tower precinct on Braddon's Northbourne Avenue

<p>The booming Bilinga beachfront is set for another luxury apartment development, with plans filed for KYRR, an 11-level block on the dress circle Pacific Parade.</p>

<p><a href="https://www.apartments.com.au/new-apartments/kyrr-70-pacific-parade-bilinga-qld-4225">KYRR</a>, on the corner of Pacific Parade and Archer Street, will comprise 24 apartment on its prime 1,009 sqm site. There had previously been plans for a much more boutique seven-storey, five-unit scheme.</p>

<p>Plans have been pitched by CHM Living, an entity associated with James Quinert, the founder of Norwood Constructions which is based in Melbourne.</p>

<p><img alt="70 Pacific Parade and 1 Archer Street" data-entity-type="file" data-entity-uuid="2f6159ee-3511-4b16-b9fa-ae8c008b8faf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_5.png?VersionId=4n2YaBQdjXcshUAkxX8ei9X5N0v2AWqB" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/byculprit">ByCulprit Architects</a>, the project includes a sculptural façade with soft curves and natural finishes, inspired by the rhythm and calm of the nearby Pacific Ocean.</p>

<p>According to the Town Planning Report by Town Planning Alliance, the project aspires to reflect the intent of the Medium Density Residential zone, aiming to "contribute to the city’s iconic skyline along the coastal spine" with a high degree of architectural modulation and landscaping that softens the built form.</p>

<p>There will be 22 large-scale three-bedroom apartments and two five-bedroom penthouses. The wellness amenities, including a gym, steam room, sauna, pool, golf simulator, and cold plunge, will sit on level one.</p>

<p>Kyrr will follow in the footsteps of <a href="https://www.apartments.com.au/buildings/pipis-bilinga-303-golden-four-drive-bilinga-qld-4225">PIPIS</a> in Bilinga by SIERA, which is all but sold out with just one of its luxury 19 apartments left to sell. The building set suburb records, with the penthouses both selling for over $8 million. Down the road is Bilinga House, which has a wider mix of configurations and price points starting from just over $1.2 million.</p>


First look: Bilinga beachfront set for new luxury apartment development, KYRR

<p><a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a> has received development approval for Archer &amp; Albert, a 32-storey, mixed-use residential development in the heart of Chatswood.</p>

<p>Located at 57–61 Archer Street and 34 Albert Avenue, <a href="https://www.apartments.com.au/new-apartments/archer-albert-chatswood-57-61-archer-street-chatswood-nsw-2067">Archer &amp; Albert</a> will deliver 150 new homes, including affordable housing, alongside ground-floor and podium retail, commercial space, a heritage house activated as a café, additional ground-level activation, and a landscaped publicly accessible park designed for community use.&nbsp;</p>

<p><a href="https://www.apartments.com.au/new-apartments/archer-albert-chatswood-57-61-archer-street-chatswood-nsw-2067">Archer &amp; Albert</a> is one of the few large-scale residential developments in the heart of Chatswood City to progress through a council-led architectural design competition and secure development approval, positioning it at the forefront of design led housing.&nbsp;</p>

<p><img alt="Archer" data-entity-type="file" data-entity-uuid="33cb754a-1493-4203-bd16-096d320597f6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A%2BA_C03_EXT_StreetScape_ID1.jpg?VersionId=oLUPFVAMxuRUTH1Bwki16R48cEo.vLeB" /></p>

<p>Designed by global architecture practice <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, long-term collaborators of the Coronation team, the project draws inspiration from the Sydney Blue Gum High Forest and the leafy character of the South Chatswood Heritage Conservation Area. The design integrates a restored heritage-listed home and establishes a landscaped connection between Chatswood’s urban centre and its surrounding residential neighbourhoods.&nbsp;</p>

<p>“This is an important project for us and our first entry into the North Shore,” said Joe Nahas, Managing Director of &nbsp;Coronation Property.&nbsp;</p>

<p>“We are deliberate about where we invest and build, <a href="https://www.apartments.com.au/developments/chatswood-nsw-2067">Chatswood</a> stands out because the fundamentals are already strong. Transport, employment, education, retail and health are all in place. Archer &amp; Albert is about adding new housing into a centre that already works and building on what exists.”&nbsp;</p>

<p><img alt="Chatswood" data-entity-type="file" data-entity-uuid="620fcd78-00be-489b-823a-ca353387b91b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A%2BA_C04_EXT_PARK_HA_ID2.jpg?VersionId=NxSl04Zl1rzt94xlXNA6CNzSR9XMyLgP" /></p>

<p>Aras Labutis, Head of Urban Transformation at <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>, said the project reflects a disciplined, collaborative approach to city shaping.&nbsp;</p>

<p>“Chatswood sits at an important junction between high-density commercial activity and established residential &nbsp;neighbourhoods," Labutis said.</p>

<p>"Our focus for Archer &amp; Albert was to manage that transition carefully, respecting what’s already there &nbsp;while contributing something new that feels deliberate and enduring."</p>

<p>The approved scheme delivers:&nbsp;</p>

<ul>
	<li>A 32-storey mixed-use tower comprising 150 homes, including 41 affordable housing dwellings • 530sqm of ground-floor retail, dining and commercial offerings&nbsp;</li>
	<li>A 760sqm wellness tenancy integrated within the podium&nbsp;</li>
	<li>A restored heritage building, thoughtfully reimagined as a café overlooking the park&nbsp;</li>
	<li>A landscaped public park, designed as a calm green retreat in the heart of Chatswood&nbsp;</li>
	<li>Resident amenities include a premium gym, golf simulator, mahjong room, dedicated wellness areas, private &nbsp;dining facilities and a curated wine room&nbsp;</li>
	<li>Deep private balconies designed to capture outlooks and northern light&nbsp;</li>
	<li>A refined material palette of natural stone, timber and terracotta&nbsp;</li>
</ul>

<p>[smartcode_project_cta:default project_id=29796]</p>


Coronation receives green light for Archer & Albert apartments in Chatswood

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>
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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>
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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>
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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>
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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>
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<p>Canberra: Over the past year, 4.8% of housing stock sold which is an historic low level. </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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