Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Auctions

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The February CoreLogic RP Data Home Value Index results (<a href="https://www.corelogic.com.au/media-release/dwelling-values-continue-to-rise-while-rental-yields-compress-further" target="_blank" title="Read Indices results">read results here</a>) showed Melbourne dwelling prices rose at a greater rate over the last three months than any other capital city.
When viewed in conjunction with the strengthening auction market this data confirms the solid position intending sellers now find themselves in.  This will also encourage a rise in listings over the next few months and provide buyers with good choice in April and May.
In the last three months house values have risen 4.8% and over the last month the rise was a more moderate 0.2%. Based on settled sales in the last quarter the median sale price was $549,000.
In the last three months unit values have risen 1.8% and over the last month the rise 0.5%. Based on settled sales in the last quarter the median sale price was $450,000. Unit values continue to be subdued due to high supply.
The clearance rate also rose compared to last year. In February a clearance rate of 74.1% was recorded from 3,452 auctions compared to 71.5% from 2,623 auctions a year ago.
AUCTION MARKET PREVIEW
Strong auction demand continued in Sydney, Melbourne and Canberra last week with all three markets recording clearance rates in excess of their 2014 trend and they were joined by Adelaide where a clearance rate in excess of 70% was recorded for the first time in a year. National volumes also fell this week due to the impact of the Labour Day long weekend, particularly in Melbourne,
There are 1,818 auctions expected this week across Australia with 1,448 expected in capital cities. This is compared to 3,238 last week and 1,520 for the same week last year.
In Sydney 801 auctions are expected compared to 1,223 last week and 859 this week last year. As volumes reached a record high last year, it is remarkable that they are higher again this year and that demand remains very strong.
There are 144 auctions expected in Brisbane compared to 216 last week and 138 this week last year.
This week there are 62 auctions expected in Adelaide compared to 109 last week and 80 on the same week last year.
In Canberra there are 75 auctions expected compared to 84 last week and 64 this week last year.
In Perth 42 auctions are expected compared to 27 last week and 33 this week last year.
Across Australia the highest volume of auctions in one suburb are 16 in Mosman (NSW).
There are 312 auctions scheduled this week in Melbourne compared to 329 for the same time last year. Volumes are low due to the Labour Day long weekend. The highest volume of auctions in one suburb is the very popular Glen Waverley where 7 are scheduled.
The February Home Value Index results showed the dwelling prices rose at a greater rate over the last three months than any other capital city and rose slightly in the last month.
When viewed in conjunction with the strengthening auction market this data confirms the solid position intending sellers now find themselves.  This will also encourage a rise in listings over the next few months and provide buyers with good choice in April and May.
The clearance rate also rose compared to last year. In February a clearance rate of 74.2% was recorded from 3,452 auctions compared to 71.5% from 2,623 auctions a year ago.
In respect of the private sale market in the past week, on a citywide basis, the time on market results for houses sold at private sale fell to 43 days, down from 60 days in the previous week. Overall vendor discounting was up slightly to -5.5% from -5.4%.
Melbourne auction market Key data
<ul>
<li>Clearance rate week ending 1 March: 77.1%</li>
<li>Melbourne auctions expected week ending 8 March: 312</li>
<li>Melbourne private sales time on market week ending 1 March: 43 days (houses)</li>
<li>Melbourne vendor discounting market week ending 1 March: -5.5% (houses)</li>
</ul>
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rlarocca-zWhvjay44N

Melbourne residential market provides highest growth over quarter: Robert Larocca

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The penthouse atop the Soul Surfers Paradise tower on the Gold Coast sold for $7 million at McGrath auction this weekend - long after a $16.85 million off the plan deal of 2006 failed to proceed.
<a href="https://www.mcgrath.com.au/buy/apartment-surfers-paradise-qld-4217/240361/?searchID=48350135" target="_blank">It is a four-level penthouse </a>with six bedrooms on the 70th floor of the Cavill Avenue building. 
Set 240 metre above Surfers Paradise beach, the penthouse has 1,040 square metres of space.
Hong Kong billionaire Tony Fung beat out four other bidders, including veteran tourism industry player Frank Picone, to secure the apartment at auction, the Gold Coast Bulletin reported.
The gutted penthouse shell was marketed by John Natoli and James Ledgerwood of McGrath Estate Agents.
The billionaire is planning an $8.15 billion resort and casino at Cairns. The integrated resort at Yorkey's Knob, 13 kilometres north of Cairns in far north Queensland, would be one of the biggest projects in the state if it's given permission by Palaszczuk Labor government. He owns the Canberra Casino.
Last week Tony Fung paid a rumoured $15 million to buy four Gold Coast properties from tycoon Nathan Tinkler's Patinack Farms racing empire.
The Aquis Group chairman bought all four Patinack Farm landholdings in the Gold Coast Hinterland — Wadham Park, Elysian fields, Sarahvale and Benobble — for an undisclosed amount.
 
 
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jchancellor-FAypfDUnLy

Soul, Surfers Paradise penthouse auction results in $7 million sale to Tony Fung

<html><body>
Sydney auction clearances rates have been in the 80s for all of February.
But the Monday auctions at Cooley Auction Centre East saw a clearance rate on the night of 94%, with 29 of the 31 offered finding a buyer.
There was an average of four registered bidders per property across the 16 auctioned on the night.
Many sold before and one was postponed.
<img src="/images/2015/03/05/cooley-mar-5-one.jpg" alt="">
<img src="/images/2015/03/05/cooley-mar-5-two.jpg" alt="">
Source: Cooley
The property with the most competitive bidding was 8/24 Manion Avenue, Rose Bay which also sold for the most over reserve % wise.
It fetched $780,000 which was $90,000 or 13% over reserve.
Dollar wise, the property selling the most over reserve was 140 Military Road Dover Heights. The home sold for $3.68 million which was $380,000 above the written reserve.
All up Damien Cooley secured around $733,500 over the written reserves on the night, equating to an average $52,000 over reserve.
Counting his other auctions this week has seen his sellers secure a staggering $4,978,500 above their reserve prices.
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Cooley Auctions takes auction success rates into the 90s

<html><body>
This week has seen two big house sales on either side of Sydney's Centennial Park.
There was $4.7 million paid for 55 Darley Road, Randwick North on Tuesday night. Then on Wednesday night Leppington, 42 Lang Road, Centennial Park (pictured above) sold for $6.2 million.
The Darley Road price was $500,000 beyond the previous highest sale price in this eastern park-side locale. It last sold at $1,952,500 in 2003.
"It really is a sellers’ market right now," BradfieldCleary selling agent Bob Guth advised.
The reserve was $5.7 million when auctioneer Damien Cooley secured the result for Leppington at its <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/doublebaybondibeach/properties/383561" target="_blank">Raine &amp; Horne Double Bay</a> auction through agent Wayne Ihaka.
It is a 1906 home at 42 Lang Road on a 1,094 square metre directly opposite Centennial Park, a sandstone Federation manor with high Victorian design influences.
It last sold at $1,305,000 at 1995 auction, after 94 bids, to then Channel Nine solicitor James McLachlan and Veena Patel.
Recent price guidance came when Nick and Kathryn Greiner secured $6.25 million further along Lang Road.
Both Lang Road and Darley Road are heavily trafficked, but their proximity to the park underpins their buyer enthusiasm.
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Big house sales on either side of Sydney's Centennial Park

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Brisbane agents scheduled a record number of homes for a February weekend with the preliminary result seeing a 61% success rate.
Some 142 properties were scheduled for auction, well ahead of the 84 auctions conducted last weekend and significantly higher than the 100 listed over the same weekend a year ago.
Windaroo hosted the most number of auctions this weekend with seven followed by Sunnybank and Ascot with five each.
Seller confidence in the Brisbane housing market continues to rise following a record spring-summer auction season, Fairfax Domain senior economist Andrew Wilson said.
"This year has commenced in similar fashion with a record early season 448 auctions over the last five weekends compared to the 390 listed over the same period last year," said Wilson.
"Solid buyer demand for inner and middle suburban properties continues to drive the Brisbane housing market with prices continuing to rise."
APM reported the weekend's top sale was $1,496,000 when the four bedroom 89 Towers Street, Ascot (pictured above) deceased estate offering sold through Ray White.
The weekend's cheapest was a three bedroom house at Morayfield for $183,000. The 1 Judith Street house sold through Lynne Cornish Real Estate.
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A solid 61% auction success rate Brisbane's first February Super Saturday

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A north-facing home in Sydney's Bellevue Hill was the most expensive sold last week, according to CoreLogic RP Data.
The four bedroom house was sold through Raine &amp; Horne Double Bay for $5.5 million.
Set on a 720 square metre parcel, the three storey contemporary home has views of the city. Various living areas open through bi-fold doors to outdoor entertaining zones, which include a courtyard, gardens, multiple terraces and a gas heated pool.
The home includes an open plan library at the top of the stairs.
The vendors purchased <a href="https://www.domain.com.au/property/for-sale/house/nsw/bellevue-hill/?adid=2011531949" target="_blank">14 Arthur Street in Bellevue Hill(</a>pictured above) for $4.8 million in 2010. In five years, its sale price increased by $700,000.
The home was one of nine from Sydney that appeared in this week's top 10 list. Just one Melbourne home got a look in – a five bedroom house on Kew's Cotham Road was the 10th most expensive Australian home to sell this week at $3.61 million.
CoreLogic RP Data's top 10 sales of the week ending 1 March:
<ul>
<li>
14 Arthur Street, Bellevue Hill, NSW
</li>
</ul>
4 bed, 3 bath, 2 car house 
$5,500,000 
Raine &amp; Horne 
Double Bay
<ul>
<li>
2A Mount Street, Hunters Hill, NSW
</li>
</ul>
5 bed, 4 bath, 3 car house 
$5,060,000 
First National 
Hunters Hill
<ul>
<li>
190 Barrenjoey Road, Newport, NSW
</li>
</ul>
6 bed, 5 bath, 3 car house 
$5,000,000 
L J Hooker 
Mona Vale 
<ul>
<li>
60 Portland Street, Dover Heights, NSW
</li>
</ul>
4 bed, 6 bath, 5 car house 
$4,800,000 
Position Realty
<ul>
<li>
54 Cammaray Road, Castle Cove, NSW
</li>
</ul>
5 bed, 6 bath, 3 car house 
$4,620,000 
Belle Property 
Glebe 
<ul>
<li>
34 Yanko Avenue, Bronte, NSW
</li>
</ul>
4 bed, 3 bath, 3 car house 
$4,082,000 
Richardson &amp; Wrench 
Bondi Beach 
<ul>
<li>
31 Le Vesinet Drive, Hunters Hill, NSW
</li>
</ul>
3 bed, 2 bath, 3 car house 
$3,850,000 
BresicWhitney Estate 
Agents Hunters Hill 
<ul>
<li>
139 Military Road, Dover Heights, NSW
</li>
</ul>
6 bed, 5 bath, 3 car house 
$3,825,000 
Laing + Simmons 
Double Bay
<ul>
<li>
10 Carrington Parade, Freshwater, NSW
</li>
</ul>
5 bed, 3 bath, 4 car house 
$3,750,000 
Clarke &amp; Humel Property 
Manly
<ul>
<li>
266 Cotham Road, Kew, Vic
</li>
</ul>
5 bed, 3 bath, 4 car house 
$3,610,000 
Marshall White 
Hawthorn
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jrichardson-uRX5hFdKfN

$5.5 million house on Bellevue Hill tops week's sales: CoreLogic RP Data

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Cabramatta secured the weekend's cheapest auction result when $325,000 was paid for a two bedroom unit.
<a href="https://www.realestateview.com.au/Real-Estate/1-11-gilbert-street-cabramatta/Property-Details-buy-residential-8285788" target="_blank">The Ray White marketing</a> advised its annual rent return was $17,680 at $340 a week, reflecting a 5.4% yield.
The sale was secured pre-auction.
Located just a minutes walk from the Cabramatta CBD, the first floor, freshly painted, street facing unit came with an updated kitchen and two balconies.
The 1976 apartment had a lock up garage.
It last sold in 2007 at $175,000, reflecting 8.3% annual price growth, and at $185,000 in near-boomtime 2003.
The Ray White Green Valley selling agent was Scott Whittle. 
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Cabramatta $325,000 sale Sydney's cheapest weekend auction sale

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A preliminary weighted average clearance rate of 77.1% was recorded this week across capital cities compared to 77.3% last week and 74.2% this time last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/03/20150302-Capital-City.jpg" rel="wp-prettyPhoto[g4335]"><img class="aligncenter size-large wp-image-4336" src="https://blog.corelogic.com.au/wp-content/uploads/2015/03/20150302-Capital-City-580x432.jpg" alt="National auction results - Capital City" width="580" height="432"></a>
Following last weeks strong result this week’s result indicates the auction market is delivering healthy outcomes to sellers in increasing numbers.
In Sydney a preliminary clearance rate of 82.8% was recorded compared to 86.2% last week and 77.6% last year. This is the fourth consecutive week in excess of 80% making it the strongest capital city auction market in recent times. The Sydney auction market is in uncharted territory now.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/03/20150302-Sydney.jpg" rel="wp-prettyPhoto[g4335]"><img class="aligncenter size-large wp-image-4337" src="https://blog.corelogic.com.au/wp-content/uploads/2015/03/20150302-Sydney-580x388.jpg" alt="National auction results - Sydney" width="580" height="388"></a>
In Melbourne the preliminary clearance rate was 76.5%, compared to 75.8% last week and 76.6% this time last year. The Melbourne auction market is beginning to record numbers similar to autumn 2010, when high clearance rates and volumes translated into strong capital gains.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/03/20150302-Melbourne.jpg" rel="wp-prettyPhoto[g4335]"><img class="aligncenter size-large wp-image-4338" src="https://blog.corelogic.com.au/wp-content/uploads/2015/03/20150302-Melbourne-580x387.jpg" alt="National auction results - Melbourne" width="580" height="387"></a>
In Brisbane a preliminary clearance rate of 54.6% was recorded compared to 63.6% last week and 46.2% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/03/20150302-Brisbane.jpg" rel="wp-prettyPhoto[g4335]"><img class="aligncenter size-large wp-image-4339" src="https://blog.corelogic.com.au/wp-content/uploads/2015/03/20150302-Brisbane-580x374.jpg" alt="National auction results - Brisbane" width="580" height="374"></a>
In Adelaide a preliminary clearance rate of 78.6% compared to 53.3% last week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/03/20150302-Adelaide.jpg" rel="wp-prettyPhoto[g4335]"><img class="aligncenter size-large wp-image-4340" src="https://blog.corelogic.com.au/wp-content/uploads/2015/03/20150302-Adelaide-580x389.jpg" alt="National auction results - Adelaide" width="580" height="389"></a>
In Canberra the market is beginning to show levels of demand currently present in Sydney and Melbourne. A clearance rate of 81.6% was recorded compared to 72.4% last week.
In Perth a clearance rate of 40% was recorded compared to 46.4% last week and 55% last year.
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Sydney auction market enters uncharted territory: Robert Larocca

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Breakneck bidding for 38 Kooyongkoot Road, Hawthorn, took its weekend sale price almost $1 million above its $4.1 million reserve.
It was sold for $5,085,000 to an Australian expatriate family living in Singapore who were watching on via Skype with family members also at the onsite auction.
The stellar pricing was all in the timing for the five-bedroom house (pictured above) in the coveted Scotch Hill precinct.
The result came days after the mid-week private auction of another five-bedroom period house at 3 Kembla Street (pictured below), which smashed its reserve by more than $900,000 selling on Wednesday night at $5.35 million.
<img src="/images/2015/03/02/hawthorn%20mar%202%20one.jpg" alt="">
There had been a $4.4 million pre-auction offer for the property on Kembla Street - from its eventual buyer - that prompted its same day Saturday scheduled auction to be brought foward by four days after the property had attracted more than 100 inspections over its marketing campaign.
"Strategically we made the decision to bring it forward so to ensure that it had all bidders present at the auction as opposed to waiting for sale day and potentially losing [some bidders]," listing agent James Redfern said.
Land title records show the vendors, olympic rower David England and wife Susan, bought the home for $2,125,000 in 2001. 
It attracted seven bidders on 1890 slated-roof Victorian home with some of those who missed out at the Wednesday night auction back at 38 Kooyongkoot Road Saturday afternoon.
Marshall White listing agent Justin Krongold acknowledged the Kembla Street sale had set a benchmark for his auction.
"If not for [Kembla's] result, perhaps if the auction was later today as it had planned to be, it could have been a very different situation," he told Fairfax Media.
Buyers agent Mal James noted a few weeks ago he gave a client advice that this Kooyongkoot Road home with good bones for a renovation on 1,038 square metres should go in the $3.7 million to $4.2 million range, based on the market being the same as last year.
The $3.5 million to $4 million initial price quote implied just below or just above $4 million as the hoped for expectation which James viewed as "not unachievable, but not a given, though it was not unrealistic either" when he first inspected it.
"By last week we had upped our advice to $4.5 million as the top figure," James pondered.
"A few days ago our comment to our client was it could hit $5 million after the 3 Kembla result around the corner as there were six wounded underbidders left over on this James Redfern midweek auction.
"Has the market for these types of homes gone up 5%, 10% or 20% since December or am I just losing my marbles?"
Just a year ago Hawthorn's prestige market was ordinary at best.
Avon Court, the high profile Hawthorn mansion, sold off market in May last year in the suburb's top 2014 sale. But the $19.8 million price showed negative price growth since the Shakespeare Grove property had been purchased by Autobarn boss Garry Dumbrell in 2009 for $20,250,000 when sold by the former Richmond Football Club president Clinton Casey and his wife, Leslie who had Ross Savas at Kay &amp; Burton hire Jo Silvagni to be the face of its print and video campaign. 
{qtube vid:=Ug3X6GJnYpU}
Prices have gone backwards on prestige residential offerings on the lower end of the scale over recent years in Hawthorn.
The 1930-built, 2000-reburbished house at 17 Callantina Road sold at $2.68 million in 2013 having previously sold at a tearaway $2.86 million in 2008. Not even leafy gardens designed by Edna Walling could stop the price collapse.
Another loss taker was when the 2007-built four bedroom house at 16 Burton Avenue sold at $3.34 million in late 2013. It had sold in 2008 at $3.45 million.
Signs of ordinary price growth were also evident in a $2,775,000 Kooyongkoot Road sale in 2013 which had previously sold at $2.6 million in 2007.
The Bai family of Burwood spent $2.83 million to buy 51 Chrystobel Crescent which had been listed in 2011 with $3.4 million hopes. The 2011 auction of the solid 1880 home in the Grace Park precinct had been passed in on a $3.05 million offer in front of around 100 people.
A six bedroom Hawthorn East mansion sold in early 2014 at $3,235,000 at Jellis Craig auction that was just $35,000 more than its prior $3.2 million sale in 2011. 
The Chinese Australian vendor at 4 Mount Ida Avenue didn't cover the stamp duty with the house price - and this was on its second marketing campaign.
In mid-2013 retired Western Bulldogs champion, turned 3MMM breakfast broadcaster, AFL commentator and publican, Luke Darcy upgraded his <a href="https://apm.domain.com.au/research/address.aspx?locationtype=address&amp;state=vic&amp;streetid=292407&amp;unitnumber=&amp;streetnumber=42" target="_blank">Hawthorn home</a>, despite his sentimentality for the rejuvenated Footscray suburb.
Darcy commented during the spring 2014 selling season that he'd detected an uptick in the Hawthorn auction prices.
Luke and Rebecca Darcy secured $2,975,000 in Hawthorn when selling in 2013 having paid $2.82 million in 2007, reflecting less than one percent annual growth through the six years.
The Darcy's upgraded to a nearby $3.2 million house which might now seem have been a good time to upgrade homes while prices where constrained.
Their new property had been built by the Toorak-bound MAB managing director Andrew Buxton.
The four bedroom house, with study, is in a prime Scotch Hill spot with a pool and tennis court set on more than 1000 square metres. 
The former Harcourt Street, Hawthorn East home of the since departed AFL boss Andrew Demetriou resold with negligible price appreciation too in 2013. The four bedroom renovated 1965 home at 50 Harcourt Street, which was offloaded by Demetriou in 2008 for $2.7 million, was sold at $2,742,500 in 2013. Just $42,500 gain in the five years.
The 2012 top sale in Hawthorn was on Kooyongkoot Road, Hawthorn was sold by Craig Parsell, who was Hong Kong based when he bought it in 2002 for $3.45 million. Parsell is a veteran executive partner in the technology services company Accenture. Known as Koot, its situated in the heart of the Scotch Hill precinct. It's got a tennis court and pool on its 2,788-square-metre holding. The $12,588,000 buyer was company director Juhne Lie. 
Kay &amp; Burton secured 2013's highest sale which was $11 million the the 1883 mansion, Katoomba on Harcourt Street, in Hawthorn East. It came with Stuart Rattle interiors and Paul Bangay gardens done for the Laidlaw family who sold to the Bailey family.
Mal James since that the results of the past week of prestige Melbourne offerings were not evidence that the market has gone crazy.
"[The market] is responding to fundamentals and the fundamentals are incredibly strong right now for larger landholdings with flexibility," James said.
"That is why we have been strong on buying for clients for the last 24 months and are continuing to do so.
"Those fundamentals are turbo charged overseas demand completely out of whack with the dwindling supply of certain home types described above.
"So unless the wealth of overseas buyers drops (and it has increased for the last 40 years), or the government intervenes (showing no stomach to do so on any serious note at present) or Chinese buyers (in particular) reverse their preference to landbank (reducing supply even further) then the market is doing what it is doing based on sound demand and supply principles, not anything else.
"This may well continue for some time (with the odd hiccup).
"We wrote a number of times last year that each month was either a tread or a step in a rising staircase on price which reignited in October 2012 and hasn’t stopped since.
"But February 2015 is different – it has jumped off the staircase, gone up a whole floor in the lift (for the above types of properties) and we assume will now continue on its merry way."
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Hawthorn hits its straps as reserves bettered by $1 million in auctions timed to the max

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<div>With an 85.5% initial clearance rate, the red hot Sydney summer home auction market continued today despite it being a record volume for a February Saturday.</div>
<div> </div>
<div>
Houses achieved a median price of $1.24 million while apartments sat at a $764,000 median.
</div>
<div> </div>
<div>Some 788 homes were scheduled to be offered under the hammer on 28 February, higher than last weekend’s 636 and the 665 conducted over the same weekend last year.</div>
<div> </div>
<div>Andrew Wilson, the Domain Group senior economist said Sydney passed with "flying colours".</div>
<div> </div>
<div>The preliminary results covered 605 auctions.</div>
<div> </div>
<div>
<div>The top residential sale was $4.62 million for a contemporary home at Castle Hill through Belle Glebe. There was also the $4.64 million sale of an Ashfield block of nine two bedroom apartments through Elders Inner West agent Sebastian Bonaccorso.</div>
<div> </div>
<div>The top auction offer, which was not accepted, was <a href="https://www.domain.com.au/property/for-sale/house/nsw/woollahra/?adid=2011731748" target="_blank">$6.25 million in Woollahra</a>, but that was less than the $6.5 million paid for the contemporary Holdsworth Street terrace in 2011, and highlighting all the Sydney print headlines of premium property recovery being premature. 
</div>
<div> </div>
<div>It is among the terraces (above) previously occupied by the Holdsworth Gallery. It was the former Rothschild banking director Geoffrey Hodgkinson, a former assistant Reserve Bank governor, and his wife Tina who were the fortunate 2011 vendors securing the $6.5 million.</div>
<div> </div>
<div>The city and east hosted the most number of auctions with 125 followed by the inner west with 119. </div>
<div> </div>
<div>The most popular Sydney suburbs for auctions this weekend were Mosman and Maroubra each with 12 followed by Drummoyne 11, Randwick 10 and Epping, Surry Hills and Glebe each with eight auctions.</div>
<div> </div>
<div>There was a $1.72 million Chadwick Real Estate sale (below) at Epping, a 1940s house on 840 square metes which last sold in late 1994 at $350,000, reflecting 8% annual price growth.</div>
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<div class="innerCont"><a href="https://www.realestate.com.au/photogallery_new.ds?id=119068843&amp;theme=rea.sold" rel="photos" data-id="119068843"><img src="https://i4.au.reastatic.net/800x600/af882dfc26d02f817f4ed9c26693dfc0a4fcd01198fee3901e8b58cadf6f7ca4/image5.jpg" alt="11 Dunmore Road, Epping" title="11 Dunmore Road, Epping" data-index="4"></a></div>
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<div>Last Saturday Sydney's clearance rate was adjusted to 83.1%, down from the preliminary near-record 84.6% result.</div>
<div> </div>
<div>TOP SALES ACROSS THE CAPITALS
</div>
<div> </div>
<div>
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5"><tbody align="left">
<tr id="ecxrpMostExpensive_trMostExpensiveRow_0">
<td id="ecxrpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="ecxrpMostExpensive_tdMostExpensiveLocation_0"> 54 Cammeray Road, Castle Cove, 5br House, Belle Glebe</td>
<td id="ecxrpMostExpensive_tdMostExpensiveSold_0"> $4.62m</td>
</tr>
<tr id="ecxrpMostExpensive_trMostExpensiveRow_1">
<td id="ecxrpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="ecxrpMostExpensive_tdMostExpensiveLocation_1">136 Page St, Middle Park VIC 3206, 4 br House, Cayzer Real Estate</td>
<td id="ecxrpMostExpensive_tdMostExpensiveSold_1">$5,500,000</td>
</tr>
<tr id="ecxrpMostExpensive_trMostExpensiveRow_2">
<td id="ecxrpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="ecxrpMostExpensive_tdMostExpensiveLocation_2">8 Netley Av, Lockleys SA 5032, 3 br House, Ouwens Casserly</td>
<td id="ecxrpMostExpensive_tdMostExpensiveSold_2">$910,000</td>
</tr>
<tr id="ecxrpMostExpensive_trMostExpensiveRow_3">
<td id="ecxrpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="ecxrpMostExpensive_tdMostExpensiveLocation_3">89 Towers St, Ascot QLD 4007, 4 br House, RW - New Farm</td>
<td id="ecxrpMostExpensive_tdMostExpensiveSold_3">$1,496,000</td>
</tr>
</tbody></table>
Source: Australian Property Monitors
One of the weekend buyers was the Channel 10 Shark Tank series presenter Sarah Harris and husband Tom Ward, an IT professional, who paid $2,175,000 for a contemporary Cremorne semi, paying $75,000 above the reserve price.
APM incorrectly noted the weekend's top sale, which prompted an update to the article.
</div>
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