Kokoda Property Group has announced the Sydney-based Versatile Construction as the builder for its landmark $1.5 billion <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> precinct.

Construction of the 17,612 sqm site is scheduled to commence in December 2025 and is expected to be delivered in stages from 2028. Once complete, <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> will comprise 212 residences across four architecturally distinct buildings, alongside Brisbane’s first Kimpton Hotel, extensive retail, hospitality, and wellness amenities.

[smartcode_project:default project_id=139896 project_image_fid=295098]

Kokoda Property Group Founder and Managing Director, Mark Stevens, said appointing Versatile Construction marks a significant milestone for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.

“Partnering with Versatile Construction gives us confidence in delivering a precinct that sets a new benchmark for luxury living, curated experiences and vibrant riverfront activation," Stevens said.

"Together, we will bring the vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a> to life, creating a destination that residents and visitors will enjoy for generations."

Throughout the construction phase, more than 2,000 jobs will be created, supporting hundreds of local contractors and suppliers.

[smartcode_project:default project_id=139896 project_image_fid=352274]

Marco Fahd, Chairman &amp; CEO at Versatile Group, said the company is looking forward to&nbsp;expanding their footprint in the state, taking on their inaugural project in Brisbane.

"We are proud of the unwavering commitment our team of experts have to quality and certainty in delivery and are excited to work with Kokoda to bring their vision for this unique project to life," Fahd says.

Sales reached $285 million on the launch of <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>, with sales momentum continuing to "exceed all expectations."

Stevens says the overwhelming response from buyers validated the group’s vision for <a href="https://www.apartments.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>.

“The demand for a luxury product in this enclave has been extraordinary, we’ve never seen anything like it before. It reinforces everything we’re doing around quality, design, and creating genuine lifestyle precincts. Buyers are recognising the enduring value of Brisbane’s riverfront and are responding to the opportunity to live within a world-class destination that celebrates both place and lifestyle.”

[smartcode_project_cta:default project_id=139896]

Joel Robinson

Kokoda appoints builder for $1.5 billion Teneriffe Banks waterfront precinct

Castle Hill’s booming development market is set for another boost, with builder-developer Buildex proposing a new mid-rise apartment building near Castle Towers.

Buildex has submitted plans to The Hills Shire Council for a <a href="https://www.apartments.com.au/new-apartments/197-old-northern-road-castle-hill-nsw-2154">nine-storey building comprising 57 apartments</a> on Old Northern Road. The company acquired two adjoining sites earlier this year, totalling more than 2,683 sqm.

Texco Design has prepared the scheme, which includes five one-bed plus study apartments, 37 two-bedrooms, and 15 three-bedrooms.

Castle Hill has become a hotspot for developers in recent years, undergoing significant transformation driven by the opening of the Hills Showground Precinct to development and the introduction of two metro stations servicing the suburb.

Developers including Deicorp and Kassis Homes have already completed projects, and are progressing future developments, while Meriton, Arada, and Ellipse are currently delivering new projects in the rapidly evolving area.

Staff Writer

First look: Buildex plans 57 apartments near Castle Towers

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/immerse-projects">Immerse Projects</a>&nbsp;has unveiled what it intends to deliver at its recently acquired Toowong site, its debut apartment development in Brisbane.

Immerse, founded by John Kearney who is also the founder of regarded construction company Greyburn, secured the prime Sylvan Road site <a href="https://www.apartments.com.au/news/qld/first-look-immerse-projects-moves-into-brisbane-apartment-market-with-toowong-site-acquisition">earlier this year</a>, in an area which has historical significance to Kearney who&nbsp;studied at the nearby University of Queensland.

"It feels like a full circle moment," Kearney told&nbsp;<a href="https://www.apartments.com.au/" target="">Apartments.com.au</a>.&nbsp;

“I spent many nights at the Regatta Hotel just down the road, as have most people in&nbsp;<a href="https://www.apartments.com.au/developments/brisbane-qld" target="">Brisbane</a>. It’s one of the city’s most well-known hotels, and with several cafes, restaurants, and a CityCat stop nearby, it’s become an even more attractive place to live.”

He is planning a <a href="https://www.apartments.com.au/new-apartments/22-24-sylvan-road-toowong-qld-4066">15-storey project with 88 apartments</a> above an activated ground plane with a shop and hospitality spaces.

<img alt="Toowong podium" data-entity-type="file" data-entity-uuid="c350436b-9d64-46cc-ab6f-defc009e1b65" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_0.png?VersionId=zt7A0_14M62TkZ61YHnGmEck9KM9HqDA" />

The architecture, led by <a href="https://www.apartments.com.au/interior-designers/bda-architecture">BDA Architecture</a>, presents a tower massing that responds to the area's evolving mid-rise context. The scheme incorporates podium and rooftop communal spaces, while the commercial elements aim to activate the Sylvan Road frontage and enhance the site's interface with the adjacent parkland.&nbsp;

Landscaping plans by Ivy May Landscape Architects include subtropical planting and deep soil zones to support stormwater management and visual integration.

Supporting documentation from Mewing Planning Consultants notes that "the proposed development will deliver a mixed-use outcome that enhances the vibrancy of the Sylvan Road corridor" and highlights its proximity to high-frequency public transport and community facilities.

<img alt="First look: Immerse Projects moves into Brisbane apartment market with Toowong site acquisition" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/22-24%20Sylvan%20%20Rd%20Toowong_Markups.jpg?VersionId=u4_IGzpYLPFfAZSsgCZynov3bm7umwJ." />

&nbsp;

There's been little new apartment development in Toowong in recent years. The most notable is Consolidated Properties two-tower Monarch Residences, which is approaching completion with nearly all of its 224 residences sold.

Kearney describes&nbsp;<a href="https://www.apartments.com.au/developments/toowong-qld-4066" target="">Toowong</a>&nbsp;as a suburb with real depth.

"The suburb attracts everyone, from students to retirees, and that's what makes it interesting."

First look: Immerse Projects reveals debut Brisbane apartment development in Toowong

<a href="https://www.apartments.com.au/developers/hyecorp-property-group">Hyecorp</a> is down to its final three-bedroom apartments at Audrey, the developer’s parkside St Leonards South project, pairing the remaining homes with a limited-time offer.

The developer is extending a five per cent deposit and a $50,000 settlement rebate on selected apartments, aiming to help owner-occupiers secure one of the final homes ahead of move-in in early 2026.

[smartcode_project:default project_id=110379 project_image_fid=311393]

Located on Canb​erra Avenue opposite Newlands Park, <a href="https://www.apartments.com.au/new-apartments/audrey-st-leonards-13-19-canberra-avenue-st-leonards-nsw-2065">Audrey</a> comprises 102 residences, including a mix of three-bedroom residences and a double-storey, five-bedroom terrace with two outdoor areas.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> and delivered by <a href="https://www.apartments.com.au/builders/north-shore-property-construction">North Shore Property Construction</a>, the project reflects Hyecorp’s focus on owner-occupier planning, with open-plan layouts, extensive storage integration, and a material palette built around stone, oak timber flooring and bespoke joinery. Many of the three-bedroom apartments capture views toward the city and Harbour Bridge.

[smartcode_project:default project_id=110379 project_image_fid=207373]

Hyecorp’s internal design team, Jackson Teece, has emphasised a consistent level of specification across the building, including Miele appliances, integrated refrigeration, brushed metal tapware and large-format stone detailing that conceals cabinetry.

The Tiffany Collection, crowning the development on Levels 12 to 15, features added luxury of fluted standalone baths, heated bathroom floors, custom walk-in robes and upgraded appliance packages across its spacious 155 to 159 sqm homes.

[smartcode_project:default project_id=110379 project_image_fid=301367]

Beyond the private residences, Audrey carries a strong amenity focus. Residents have access to an indoor lap pool and spa, personal training studio, private cinema, music room and private dining room.

A landscaped rooftop terrace with CBD views anchors the communal offering, complemented by an onsite café and an integrated daycare centre within the project.

[smartcode_project:default project_id=110379 project_image_fid=198680]

The location continues to be a drawcard for buyers, with new retail additions at Mall 88, including Coles, alongside Woolworths and the established offerings of Forum Plaza. St Leonards Station and Crows Nest Metro is within easy reach, as are local health precincts such as the Royal North Shore Public and Private Hospitals. Nearby green spaces include Newlands Park, Gore Hill Oval and Naremburn Park, supporting strong day-to-day amenity for families and downsizers alike.

Hyecorp is expected to welcome residents to Hyecorp in early 2026.

[smartcode_project_cta:default project_id=110379]

Audrey St Leonards nears completion – settlement bonus now available

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a>&nbsp;has been given the green light to develop its flagship mixed-use project in the Crows Nest metro precinct.

The NSW Government's Housing Delivery Authority approved the 40-storey tower, aligning with the NSW Government's Transport Oriented Development (TOD) agenda to deliver more homes in highly connected, high amenity locations.

The $600 million tower, at 378-398 Pacific Highway, will comprise 178 apartments with resident amenities, two levels of commercial offices, and a curated retail offering. Freecity will also dedicate a 10 percent Affordable Housing Contribution, supporting the Governments broader housing objectives.

<img alt="Freecity Crows Nest" data-entity-type="file" data-entity-uuid="4de9b03b-e8aa-4929-b3f1-6747acbe6b73" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20Crows%20Nest%20Project.jpg?VersionId=oWwFWxGj_oUFEYX4j_qRFdSzcShLw3DG" />

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the tower will offer a diverse residential mix, from one-bedroom homes to expansive four-bedroom penthouses, all crafted to maximise light, views and liveability.

Lawrence Zheng, Co-Founder and Joint CEO of Freecity Group, said the approval represents a significant step forward for both Crows Nest and Freecity.

"We are proud to be delivering a landmark project that brings new homes, new amenity and new economic activity to one of Sydney’s most strategically connected locations,"&nbsp;Zheng said.

"With our $6 billion pipeline of 12 mixed-use projects, this development reinforces Freecity’s commitment to helping deliver the housing supply and transport-integrated precincts the Government is championing.”

Michael Romano, Executive Director of Development, said the companies focus is on "creating places that genuinely enhance how people live day to day - communities that balance accessibility, amenity and neighbourhood vibrancy.”

“This project reflects the future of urban living - design led, highly liveable and seamlessly connected to the city’s major transport, employment and education hubs. Being directly opposite the Crows Nest Metro means residents can access the best of Sydney with unrivalled convenience."

&nbsp;

Freecity secures approval for Crows Nest metro precinct tower

Prices

<html><body>
Hi Margaret,
With banks now restricted to only 80% LVR do you think this will significantly affect prices? I have two properties in Sydney. Both are renting for $450 per week
Before this announcement one was probably worth at least 800K (house on land 873sqm) and the other at least $500,000.
Do you think it's worthwhile seeing the yield is so low for my Canley vale property to sell it and buy 2 properties in Brisbane where the yield could be higher and I'll have two more properties despite losing 1?
Would this be still worthwhile seeing I have to pay capital gains tax (purchased 7 years ago for 446K) and taking into account all buying and selling fees.
I have considered more on using buyers agents as maybe they are not all spruikers.
Regards,
Allen
 
Hi Allen, 
Firstly we must make clear that the banks are not technically restricted to only lending 80% (it's not law), and the new, tougher criteria being set by some banks is only targeting investors, with owner occupiers mostly not affected. In response to The Australia Prudential Regulatory Authority's (APRA) calls for stricter controls around investment lending, banks like NAB and CBA have announced an end to pricing discounts for investors. ANZ have done the same, unless you have a PPR mortgage with them as well. Many lenders are also changing the maximum Loan to Valuation ratios (LVR) that they will allow for investors. As an example, BankWest will now apply a maximum LVR of 80% for all investment purposes (property and shares). This means that you will still be able to access funding at higher LVRs if you're an investor, you'll just have to pay for it with an increased interest rate, or, more to the point, no access to the discounts which can usually be obtained if you negotiate well enough. It's my opinion that this won't have a big impact on property prices, instead landlords will simply raise their rents to make up for the difference in their cash flows which the loss of these discounts will cause. We have to remember also that it's simply not suitable to say we are in a boom in the property market - I am sure the people of Adelaide and Perth would be quite surprised to hear they are in a boom, which making such sweeping claims infers.  We should hope that this inappropriate move by lenders doesn't impact the property market, as many areas can ill afford anything else to stunt growth. In terms of your property, I believe that, with or without these moves, people holding Sydney property may well find that the values stall a little in the coming 18 months anyway.  The market has overshot the mark, with frenzied buying pushing prices up well over the intrinsic value of properties in many areas. When that happens and the market cools, as it always does, the values seen in the last phase of that boom often suffer and fall back a little.  In your case you'll still be fine, as even with an adjustment in values, you've still made a really good gain. While I believe that the Brisbane market is likely to run soon, that's not advice to sell what you have in Sydney.  You could be up for a hefty capital gains tax bill which will eat into the returns.  It can be better to instead leverage against the equity and hang on to property you already have, choosing to sell it at times when you know you will be in a lower tax bracket, such as when you have left the paid workforce. 
As you have bought in to these areas while prices were a lot lower, I'm sure that your yields are pretty good, for you.  Yield relates to what you paid for the property, not what it is worth, and as the property has gained so much value, you should be seeing a pretty good return on that initial investment. In terms of a buyer's agent, just make sure that, if you choose to use one, they are a Qualified Property Investment Adviser (with the Property Investment Professionals of Australia) and that they have a broad based knowledge of all markets in Australia. 
You want your adviser to be helping you to buy property in the best area at that moment in time, not just in the area where they personally happen to be active. You should also become as educated as you can about everything to do with investing (not just where to buy) before going any further. In my experience, those who take the time to become suitably educated first usually make better and more lasting choices and build stronger, better performing portfolios.
Have a property question?   <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
</body></html>

mlomas-KC9MUPZ6Ca

Ask Margaret: Will bank LVR restrictions affect prices?

<html><body>
<h2 class="post_title"> </h2>
Every year, as Sydney hits winter we can expect the inevitable property market predictions to come in thick and fast. Now before we get into the nitty gritty of these predictions there are a few observations that I made when I read these somewhat bizarre predictions.
Let’s look at some facts – the Australian Bureau of Statistics (ABS) released their latest data on Residential Property Prices in March 2015 which showed that the total value of Australia’s 9.500 million residential dwellings had increased to $5.500 trillion. At the end of the March quarter 2015 the ABS also advised that household net worth was $8,090.9 billion so we are talking big numbers here.
Researcher BIS Shrapnel noted that house prices (I assume this includes the investor apartment market too) have soared by 45% since 2012 – and they don’t expect a correction to arrive until 2017. Because in 2017 they are expecting the cash rate to start increasing – which I don’t agree with as I expect we will have a low cash rate for quite a few years to come.
A recent PwC study found that more than one – third of Australia was enduring recession conditions as the economy is increasingly driven by a small group of regions. The PwC analysis found about 20% of the national income was now produced in just 10 out of 2,214 locations across Australia, with Sydney, Melbourne and WA’s iron ore belt in the Pilbara among the dominant areas. 
It is also worth noting that Queensland and NSW are on a massive infrastructure spend with Victoria not that far behind.
For those intently following the Sydney infrastructure model, I suggest that you read<a href="https://www.strategy.planning.nsw.gov.au/sydney/the-plan/#section-224&amp;265" target="_blank"> Your Future Sydney</a> – “The Government must accelerate the delivery of new housing in Sydney to meet the needs of a bigger population and to satisfy a growing demand for different types of housing. Making sure that Sydney will have adequate shelter for its future population is a high priority of this Plan.
Over the next 20 years, the population in Sydney will grow much faster than in the last 20 years. Projections indicate that Sydney will need around 664,000 additional homes over the next 20 years. 1 – New housing will be needed in Greenfield locations and the established urban area. Providing housing in a variety of sizes, types and locations will be essential to meeting Sydney’s future housing need. Increasing housing supply will boost economic activity and generate viable infrastructure and business investment opportunities.
Sydney’s house prices are high compared with other Australian capital cities, 2 – and while house prices are the result of consumer demand, governments can help to put downward pressure on prices. Accelerating the supply and the variety of housing across Sydney, such as apartments and townhouses, will make it easier for people to find homes to suit their lifestyle and budget.”
It is also worth noting that the 664,000 additional new homes will be of the strata title variety with many high density subdivisions of air space to be contained mainly on the transport corridors. The Baird Government is well aware that NSW has fallen well behind where present reports have Sydney at approximately 140,000 new homes short of where it needs to be.
When these huge infrastructure models come to fruition which one would assume we will find ourselves somewhere around the 2017 mark – so it makes plenty of sense that investors will be watching this massive construction phase with great interest. By then the councils will have been merged into the new larger councils and we will see major high density subdivisions being rolled out across Sydney.
I have been reliably advised that the Abbott Government will not be changing the foreign ownership laws so foreign buyers can acquire 100% of all new developments – and we need to know that there are plenty of foreign buyers wanting to invest in Sydney, Melbourne, Brisbane and regional areas.
Mosman house levels are now down over 50% on recent years where this week we hit 36 houses on the market which is the lowest in living memory – so no correction happening here as is also the case in the vast majority of suburbs across Sydney.
At the end of the day despite what some may predict the Sydney real estate market is all about that old mathematical equation supply V demand. With the easing of foreign ownership rules the Australian property market is now an international market and that’s where the demand is coming from.
<h4>MOSMAN – 2088</h4>
• Number of houses on the market this time last year – 62
• Number of houses on the market last week – 43
• Number of houses on the market this week – 36
• Number of apartments on the market this time last year – 56
• Number of apartments on the market last week – 39
• Number of apartments on the market this week – 43
<h4>CREMORNE – 2090</h4>
• Number of houses on the market this time last year – 5
• Number of houses on the market last week – 4
• Number of houses on the market this week – 3
• Number of apartments on the market this time last year – 12
• Number of apartments on the market last week – 12
• Number of apartments on the market this week – 16
<h4>NEUTRAL BAY – 2089</h4>
• Number of houses on the market this time last year – 3
• Number of houses on the market last week – 2
• Number of houses on the market this week – 2
• Number of apartments on the market this time last year– 42
• Number of apartments on the market last week – 39
• Number of apartments on the market this week – 25
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000. 
</body></html>

robertsimeon-hRNTwJyXkQ

Property is just a simple mathematical equation: Robert Simeon

<html><body>
A nice comparison of prime real estate prices around the global cities, via Knight Frank.
Sydney falls roughly on a par with Shanghai, Beijing, and Paris, as measured in US dollar terms.
Melbourne is far cheaper in terms of its prime real estate... more of a Mumbai.
<img src="https://3.bp.blogspot.com/-NYVaBetnTSI/XIII_VoRo7I/AAAAAAAAu34/vfa3Oy8P9csz-5G_62oJWMU6xnj-R7opACLcBGAs/s640/IMG_0728.PNG" width="494" height="640" data-original-height="1600" data-original-width="1237">
I've discussed this phenomenon with some high profile fund managers and analysts before, including at the Sydney market peak in 2017. 
Their view was that Sydney's prime real estate locations weren't unusual on a global benchmark, but the further west you travelled, the more irrationally expensive the market seemed. 
</body></html>

pwargent-M4siyDbqQY

Prime residential real estate prices in Sydney on a par with Shanghai, Beijing, and Paris

<html><body>
Morgan Stanley, which does not expect cash rates to rise until next year, forecasts growth in the residential property market are at the worst position in three decades.
Analysis by the investment bank Morgan Stanley says credits, regulatory, economic and supply issues are combining to weaken demand after six years of growth and booming prices in major cities.
It warns weakness in price as tightening credit supply pushes economic indicators into negative territory.
"Risks are skewed to the downside," the report concludes.
Analysis conducted by the bank indicates house prices could fall by as much as 6% in annual terms.
<img src="https://edge.alluremedia.com.au/uploads/businessinsider/2018/04/UBS-housing-1.jpg" alt="">
"Conditions for housing for the remainder of 2018 continue to look challenging with further regulatory tightening of credit, an increasing stock of properties to be settled, and continued uncertainty on government policy for housing as the election looms."
Morgan Stanley said its indicators covering credit supply, expectations, housing accessibility, mortgage serviceability, rental conditions and demand/supply impact were at 30-year lows.
"Higher compliance with responsible lending guidelines including serviceability and limit assessment will mean lower capacity," the report states.
</body></html>

Prices

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Prices

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.