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]

Joel Robinson

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

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

Abadeen unveils penthouse at Park Residences in Cremorne

House And Land

<html><body>
New home buyers are paying more for less with lot sizes falling and median prices rising around the country, a report from the Urban Development Institute of Australia (UDIA) has revealed.
The median size for a new lot nationally fell by 3.6% over 2014 while the average price for a new lot in Australia’s five largest capitals rose by 4.2%, according to the latest UDIA State of the Land Report.
The seventh annual edition of the report noted an ongoing trend of falling lot sizes over recent years. It put the declines down to limited land supply, the high cost of land and affordability constraints felt by new home buyers.
At 474 square metres, the median size of a new lot is now 11.4% smaller than in 2009.
Prices for land in the five biggest cities are up by 22.5% since 2009 with the median price for a new lot now at $246,300.
Nationally, new home buyers paid an average of $527 per square metre in 2014, up 9.5% from the previous year, and up 40% since 2009.
The research, conducted in partnership with Charter Keck Cramer and Research4 using data from the National Land Survey Program, also showed a marked increase in the number of new lots released in 2014 compared with the previous year.
Melbourne saw a 60% increase in lot releases, the largest rise of the capital cities, with 4791 more new lots offered in 2014 than in 2013.
The number of new lots released in South East Queensland rose by 55% compared with 2013.
The strong lift in supply in both Melbourne and South East Queensland constrained price rises in the areas, despite strong buyer demand, the report showed.
In Sydney, prices continued to rise despite a 29% increase in the number of new lots released. The UDIA noted that new supply had consistently been unable to keep up with in demand in the city.
As demand outstripped supply, lot prices in Sydney rose by 5% in 2014. Prices have risen by 15% since 2012.
Lot sizes in Sydney have also shrunk the most. The average lot in Sydney was 450 square metres in 2014, down by 11.6% compared with the year before when the average lot was 509 square metres.
In line with rising prices and falling lot sizes, land prices per square metre in Sydney increased by the largest margin of the capital cities. Price per square metre rose by 18.7% from $636 to $755.
New lot prices in Perth rose by 9.4% spurred by demand. The report noted population growth in Perth continued to be the strongest of the states despite having slowed as mining investment recedes.
Prices were flat in Adelaide where the market remains depressed. 
</body></html>

zfielding-GvX3Uq9KTa

New home buyers paying more for less: UDIA

<html><body>
Developers Victoria Investments &amp; Properties (VIP) and Mirvac adopted a ballot system to sell off the first stage of their housing estate in Melbourne's western growth corridor this weekend.
VIP and Mirvac enlisted television personality Livinia Nixon to host the event on Saturday, where registered buyers had the opportunity to select one of 70 plots at <a href="https://woodlea.com.au/" target="_blank">Woodlea</a>. Each registrant had placed a $1,000 deposit to enter the draw.
There were 185 buyers registered on the day for a chance to select a lot, which were priced from $183,500 for 500 square metres. All 70 lots have now sold.
Upon completion, the $2 billion masterplanned community located 29 kilometres from the Melbourne CBD will span 711 hectares. Saturday's event at Galli Windery was the first stage of the development's land releases.
In total, the community is expected to hold 7,100 residential lots when completed, with two pre-schools, two primary schools and a secondary school.
There are also plans for childcare facilities, a public library and a town centre. The development, located in the City of Melton, is expected to house 20,000 residents. The planned development is located between Melton to the west and Caroline Springs to the east, and will make use of the Rockbank railway station, the Western Highway, the Deerpark Bypass and the Melton Freeway.
VIP's chairman, K.T. Lim, acquired the Woodlea site 15 years ago. Prior to Woodlea, VIP has largely worked on industrial and office projects, including various commercial redevelopments in the Melbourne CBD.
Photo: Supplied.
</body></html>

jrichardson-uRX5hFdKfN

Woodlea sells out first stage of lots with ballot system

<html><body>
The Satterley Property Group has tripled its market share in Melbourne’s land market.
It is on track to sell 850 lots in the 2015 financial year.
Satterley, who launched three major land developments in Melbourne’s west and south-east last October, now command 8% of Melbourne’s total land sales.
They are closing in on their goal of attaining 10% of the Victorian land market, the expansion plans <a href="/news/vic/satterley-property-group-looking-to-nearly-triple-land-sales-with-two-new-estates">outlined in a earlier Property Observer article</a>.
The group is Australia’s largest privately owned developer headed in Victoria by general manager, Jack Hoffmann (pictured below) who said successful launches of<a href="https://satterley.com.au/point-cook/" target="_blank"> Upper Point Cook</a> (Point Cook, pictured above) and Habitat on Davis Creek (Tarneit) had underpinned the strong performance.
"Two-thirds of our buyers at Upper Point Cook are upgraders that live in neighbouring areas, with the remainder of buyers largely consisting of investors and first homebuyers.
<div>
“The big selling point for local residents is you’re buying into a quality development, with a range of housing options and there’s the added bonus of access to the Princes Freeway via the future diamond interchange at Sneydes Road,” he said.
</div>
Satterley's expansion includes the recent acquisition of an 1800-lot community on 127 hectares in Officer. 
<img src="/images/2015/03/19/sat%20mar%2019%20one.jpg" alt="">
Photo: Supplied. 
“Across Melbourne all of our developments are performing well,” said Hoffman.
“Upper Point Cook which consists of 2,000-lots is currently the second fastest selling development in Melbourne with our first neighbourhood at Upper Point Cook close to selling out six months ahead of schedule.”
Its launch of the second neighbourhood at Upper Point Cook will be 230 lots, in the Point Cook precinct which leads Melbourne as the most popular suburb for newly released land. 
“Each stage release at Upper Point Cook has had ‘campouts’ of prospective buyers wanting to ensure they don’t miss out on their chance and at the project’s launch we had up to 30 buyers camping overnight to ensure they didn’t miss out on the first land released,” he said.
Satterley’s Melbourne portfolio kick off with an urban infill project at the old Kodak factory site in Coburg North in 2011. 
The project is nearing completion, with around 80 townhouses remaining.
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No photo finish required as Satterley secures its expanded Victorian land offerings

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The six ocean view Shearwater Landing beachfront lots offered in Sydney's newest suburb, Greenhills Beach were snapped up at Savills International auction today.
All six lots sold in excess of the reserve prices at the Sunday 15 March auction. 
The first was lot 401, a 787 square metre lot with a 17.5 metre frontage that sold at $2,575,000.  
Lot 208, the second of the day, a 787 square metre lot, sold for $2,651,000.   
Lot 207 – Sold $2,550 million
Lot 206 – Sold $2,415 million
Lot 205 – Sold $2,275 million
Lot 204 – Sold $2,200 million
<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/2015/03/16/sherarwater%20ar%2016%20one.jpg" alt="">
Source: Supplied
One of the successful local bidders mentioned that they had been watching the Breen Property land development for many years and this had been a dream come true for them.
Tom Breen, the executive chairman of Breen Property, said the offering was the culmination of decades of planning, obtaining government approvals for their former sand mine. 
"They are the first truly beachside precincts to be created in the last three decades in the Sydney metropolitan area." 
<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/2015/03/13/home-01.jpg" alt="">
The purchasers are young vibrant families, Nigel Napoli, director of the selling agency, Savills Residential Projects, said.
The second part of Stage 1 which will be 44 lots to be sold via expressions of interest on 28 March.
These lots will range in size from 560 square metre to 1,109 square metre.
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Beach building blocks at $2.2 million plus - sellout at Shearwater Landing, Greenhills Beach auction

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Sydney’s median residential land price increased by 19.7 percent over 2014 to $390,000, he most expensive of all the state capitals, according to data from the Domain Group. 
The $390,000 December quarter median land price was well ahead of Melbourne at $245,000 and Brisbane $237,950.
With Sydney residential land prices now rising faster than booming house prices, the task for first home buyers is becoming increasingly difficult, said Andrew Wilson, senior economist at the Domain Group.
“Sydney’s annual land prices increased at the fastest rate in over a decade and recorded stronger growth than the booming house prices which increased by 14% over the same period.”
Sydney’s outer suburban residential land market recorded strong growth over 2014.  Prices in the south-west increased by 25% to a median of $350,000 while prices in the west rose by 8.3% to a median of $410,500. 
The median residential land size sold in the west over the six months ending December was 564 square metres  at $759 per square metre.  In the south-west, the median land size sold was 500 square metres at $652 per square metre.
The most popular outer west suburbs for land sales over the six months ending December 2014 were Riverstone, Colebee, Pitt Town, Kellyville and Glenmore Park. 
The most popular outer south west suburbs for land sales were Harrington Park, Campbelltown, Moorebank, Appin and Edmondson Park.
Kellyville recorded the highest median land price over the second half of 2014 at $643,000 with a median land size of 701 square metres at $912 per square metre. Land prices in Kellyville increased strongly by 38.2% over 2014.
Kellyville land estate prices on realestate.com.au regularly exceeded the APM advisory such as <a href="https://www.realestate.com.au/property-residential+land-nsw-kellyville-200988363" target="_blank">Chelsea on the Park</a> where prices started at $730,000 for 700 square metre blocks, and were priced up to $860,000.
There were prices advertised last year as $400,000 plus on <a href="https://www.realestate.com.au/property-residential+land-nsw-kellyville-201014799" target="_blank">Hillview Ridge Estate</a>, ranging from 667 square metres to 826 square metres.
The blocks priced from $465,000 at the <a href="https://www.realestate.com.au/property-other-nsw-kellyville-119089259" target="_blank">Ashmore Park</a> estate are 363 square metre to 847 square metre in size. 
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Kellyville leads Sydney in fastest residential building block price escalation in over a decade: APM

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Property developer Stockland is set to construct two new residential towns on the Melbourne metropolitan fringe.
Stockland will commence construction in the next few months on its $4.6 billion Cloverton residential development 35 kilometres north of Melbourne, creating 11,000 new homes.
Previously known as the Lockerbie sheep station, the 30 year project has been described as the largest masterplanned residential community development it has ever undertaken in Victoria.
It is on 1,141 hectares at Kalkallo in Melbourne’s northern growth corridor, on the eastern side of the Hume Highway. The site encompasses parts of the Hume, Whittlesea and Mitchell LGAs.
More than 30,000 residents are expected to take up residence in Cloverton. The first land sales will occur shortly with settlements scheduled in the 2016 financial year.
Andrew Whitson, the CEO residential at Stockland, said the project was aligned with the economic opportunities that existed in Victoria, given the state’s 21.4% contribution to national GDP and 24.8% share of the national population.
Whitson hopes Stockland can replicate and expand on the success achieved at the multi-award-winning <a href="/expert-insights/building/stockland-s-highlands-residential-community-in-craigieburn-to-be-blueprint-for-all-future-projects">Highlands residential community at Craigieburn</a> where public-private partnerships facilitated the construction of a regional hospital, childcare facilities, new public and private schools, and a regional tertiary institution, the Hume Global Learning Centre.
Craigieburn's Highgate Reserve features an MCG-sized football oval and hosts regular VFL games. The Richmond Football Club have also used the ground as a second training facility.
The Lockerbie Sheep Station was purchased by Stockland for around $300 million, Australia’s largest ever individual land transaction when announced in 2010. The Burgess family had previously been in exclusive negotiations with developer, Delfin Lend Lease, for development rights, but the deal did not get to requisite signatures.
The furniture making Burgess family had bought the bulk of the property in 1979, paying about $920,000, with the property sold by the daughters.
Stockland has also acquired 65 hectares of residential zoned land at Clyde North in Casey, in the south-east of Melbourne.
The group said it will create a new masterplanned community at the site over a six-year period, with around 800 new homes, at a $128 million development cost.
Stockland said construction on the project in the Clyde Creek Precinct Structure Plan area will begin in 2017, with the first settlements in the 2019 financial year.
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Stockland plans house and land city north of Melbourne

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The Gold Coast’s Palm Beach Heights Estate has been named the Best Small Residential Subdivision in Queensland in the Urban Development Institute of Australia's (UDIA) 2014 Awards.
The boutique estate, set to be home to 150 families, has seen 80% of purchases come from locals, according to market agent Shaun Darcy, Ray White Robina.
“We’ve sold 83 blocks and have about five to go. We saw enormous interest from local residents and 80% of sales have been taken up local families. They did not want to change their postcode they just wanted a new home in a new estate surrounded by like-minded residents,” he said.
In total, including the 80% of local buyers, a total of 85% will be owner occupiers. The development sold at five blocks per month, hitting the market in late 2013.
The Beacon Builders development is just two kilometres from the beaches. Single blocks are priced from $300,000 to $360,000. Duplex blocks cost from $400,000 to $450,000. Townhouse sites are sold for $600,000.
“Schools, shops and restaurants are all within easy reach. This is actually really unusual - it’s known as an infill subdivision - as most new residential subdivisions are short on key infrastructure as they are developed in the outer regions of the city,” Darcy said.
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Boutique Gold Coast estate takes out UDIA residential subdivision award

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New South Wales’s fastest selling Masterplanned project, The Ponds, in Sydney’s north-west has now sold out with the last land plot purchased.
The UrbanGrowth NSW and Australand project is a $2 billion community with more than 4,200 home sites – all sold within seven years.
Development director for The Ponds, Jey Mahendra, said that in early 2003 they set a vision for the area that included 80 hectares of bushland and waterways and six kilometres of bicycle and walk ways.
“Eleven years later this vision has been achieved. It is estimated over 12,400 residents will call The Ponds home when the last remaining homes are built in 2015,” said Mahendra.
“A combination of strong leadership, clear project vision, a dedicated team with shared values, community input, combined with cooperative relationships with council, project partners and state government agencies were invaluable in the success of this project,” he said.
The homes will include detached and attached homes, terraces houses and courtyard homes.
Major infrastructure projects and housing saw an investment of over one billion dollars, with general manager, residential NSW for Australand, Nigel Edgar, noting that they had initially expected to finishing selling land and homes in the area in 2016.
“Twelve high profile industry accolades have been awarded including the coveted Urban Development Institute of Australia (UDIA) President’s Award for 2012 for the best project of the year in residential, commercial and retail development,” he said.
They have also received sustainability awards from the UDIA, Housing Industry of Australia and PIA.
“A broad range of purchasers have appreciated the lifestyle that has been created at The Ponds. There is nothing else like it in the North West of Sydney. Buyers who purchased in the early stages of the project have been our best sales force. The consultants involved with this project should be very proud of this thriving and functional community.”
The Ponds falls under the Blacktown City Council area.
Next year will see the completion of Peel Reserve Park, which will add to the outside amenitiess that include BBQ areas, playgrounds and sports facilities. In 2015 two schools, John Palmer Public School and a special school, will be complete, as will the second of two community hubs.
Also yet to open next year will be a retail and shopping centre amenity.
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“Most successful masterplanned project in NSW history” sells out: The Ponds

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Stockland has launched a $640 million masterplanned community in the Wyndham growth corridor, 30 kilometres west of Melbourne.
The Grove at Tarneit sold all 55 of the available blocks on the first day of the release.
The blocks ranged in size from 333 square metres to 554 square metres and were priced from $158,200 to $225,500. 
The weekend success will be the first of 2,500 new homes in Tarneit.
The first residents in the 234-hectare community are expected in the second half of 2016. 
The Grove will offer completed homes, house and land packages along with medium density housing.
There will be 54 hectares of parkland on a site bordered by the Werribee River and Davis Creek.
Residents will have easy access to the city via the Werribee train line and the new Regional Rail Link, which is due to open in April next year.
The announcement came a day after Stockland revealed its best residential sales quarter in four years.
Its results were buoyed by improved profits from its residential business which achieved a 12.5% increase in lot sales and ended the year with a record number of contracts in hand. 
The new community at The Grove will include a 3.8-hectare town centre with a neighbourhood shopping centre.
Stockland will build a retirement village and will set aside land for new primary and secondary schools.
The Wyndham Local Government Area is one of the fastest growing corridors in Australia. In the year to June 2013, the population of the Wyndham corridor increased by around 10,800 people, representing a 6% growth rate.
Stockland general manager residential for Victoria, Mike Davis, said Stockland was well known to most people in the area because of the Allura residential community at Truganina, Point Cook Town Centre and Tarneit Skies Retirement Village.
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Tarneit's The Grove secures strong land sales for Stockland

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Bloomdale at Diggers Rest is the long-term project of development company Investa Land, with 3,500 lots in total to be built.
Given that as of the 2011 Census the population of Diggers Rest was at 2,275, it’s clear that this will be the development that puts the area on the map.
The project is <a href="/news/vic/big-plans-for-diggers-rest">a 15-year plan for the area, a slow and steady house and land sales effort </a>that won’t change the suburb overnight.
Currently, almost all the properties on listings websites are for new builds, house and land, or land on its own. The established properties on the market tend to be larger, or acreage blocks.
<a href="https://www.bloomdale.com.au/" target="_blank">Bloomdale</a> properties are priced from $161,900 for land and house and land from $322,000, with blocks spanning 336 square metres to 626 square metres.
It quickly emerges that Investa isn’t the only development group trying their hand in the area, although it seems they are by far the largest.
<a href="https://stivesestate.com.au/" target="_blank">St Ives</a>, a development from Core Projects, has recently been launched. Stage one includes 420 square metre lots to 676 square metres from $200,000 at 1468 Old Calder Highway. Their 300 lots have a completion expectation of December 2018.
Property Observer went to Bloomdale to speak to Paul O’Brien, general manager at Investa Land about the development and what can be expected for the future on the often-forgotten north western side of Melbourne.
{qtube vid:=u5itbp9a81I}
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