National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

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Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Property News

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Combined capital city auctions are predicted to fall this week after the record highs of February, according to CoreLogic.
CoreLogic report 2,558 auctions are slated for this week, down from 3,301 auctions last week.
"Auction activity is down week-on-week in Melbourne and Sydney, the two major auction markets, with 1,302 Melbourne homes set to go to auction, down from last week’s 1,635, and 858 auctions set to be held across Sydney, decreasing from last week’s 1,210," CoreLogic said.
"Across the smaller markets, volumes are set to decrease across the remaining capital cities.
"However, overall activity is set to be higher than what was seen over the corresponding week last year (2,304)."
 
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Capital city auctions this week: 
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Melbourne: 1,302 
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Brisbane: 141 
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Adelaide: 112 
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Perth: 35 
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 Canberra: 104 
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"South Yarra and St Kilda in Victoria are the two busiest suburbs for auctions across the nation this week, each with 21 residential homes set to go under the hammer, followed by Malvern East and Reservoir also in Vic both with 19 and Mosman in NSW with 17 auctions."
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mick.cee-iDmgDDAmu8

Weekend auction levels down from February highs: CoreLogic

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National residential vacancies edged down in October according to SQM Research, with a national vacancy rate of 2.3 percent, down from 2.4 percent in September 2016.
Louis Christopher, SQM Research managing director said the biggest capital cities, Sydney and Melbourne recorded vacancies rates of 1.7 percent and 1.9 percent, respectively, down marginally from September 2016, while Brisbane’s vacancy rate rose to 3.0 percent, up from 2.9 percent, one of only two capital cities to record a rise, along with Darwin (up to 3.2 percent from 3.1 percent).
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"Perth reported the highest vacancy rate at 4.9 percent, though it was down slightly from the previous month. Hobart had the tightest rate at just 0.5 percent, down from 0.6%. Year-on-year results demonstrate that the national vacancy rate is steady," he said.
"Sydney remains the most expensive city for rents in Australia, where asking rents for houses sitting at $738 a week and $510 for units. Asking rents have surged in Canberra, up 9.3 percent for houses and 8.0 percent for units from a year earlier. Despite a tight vacancy rate, Hobart continues to offer the most affordable rental accommodation, with houses costing just $356 a week and units averaging $297 a week.
"Reflecting its high vacancy rate, Perth has recorded falls in asking rents of 11.0 percent for houses and 10.7 percent for units over the past 12 months. Yearly falls have also been posted in Darwin, with asking rents down 2.5 percent for houses and 3.1 percent for units. In Brisbane too, asking rents are down 1.8 percent for houses and up just 1.1 percent for units.
"Asking rents have slipped back in Brisbane as vacancy rates have continued to rise this year. At 3.0 percent, the rental market is finally favouring tenants and given the surge in new apartment supply, rents in Brisbane could continue to fall from here, particularly in the inner city.
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“Vacancies are likely to rise in Melbourne, Brisbane and Sydney over 2017 as more new high-rise apartment developments come onto the market. However, we believe that oversupply will largely be limited to inner-city areas where apartment supply is rising the most, which will temper rental growth."
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jonathanchancellor-7SQnKwU6yx

National residential vacancies edged down in October: SQM Research

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The NAB chief economist Alan Oster has described the dramatic prediction of an imminent collapse in the Australian property market as “garbage."
Australia has around “six weeks” to prevent a housing market collapse caused by the banks’ crackdown on foreign investor lending, a US think tank has warned.
In an article titled “Australia Risks Strategic Setback From a Significant Foreign Direct Investment Drop Due to Changes in Bank Policies”, the Washington-based International Strategic Studies Association warns that Australia “may be entering a significant phase of its economic-strategic development”.
It argues “changes in local banking policies” could see foreign direct investment in the property sector “decline markedly”. 
The article said the government itself seems unaware that the anticipatory caution on the part of Australian banks may "accelerate a decline in the Australian economy.”
ISSA president, West Australian-born Gregory Copley, told news.com.au the “banks’ caution is precipitating the market collapse”.
“We estimate that Australia has about six weeks or so to turn this situation around, otherwise there would be a massive hit on property valuations and the building trades,” he said.
“The urgency is, I believe, based on the fact that this is about how long it will take for the banks’ policies to start switching off a lot of existing and planned contracts for Australian properties.
“The banks clearly believe Australian real estate values will decline, so they are attempting to avoid that risk.
"They’ve learned from the US collapse that seizing real estate collateral is a no-win scenario when the volume is great and the market slow.
“In so doing, they precipitate the market collapse but are less exposed to it.”
The ISSA described moves by Australian banks from July this year to restrict or even withdraw funding to foreign property investors as “almost cartel-like policies”.
“The policies, now in place by all major Australian banks, were instituted in anticipation of an economic downturn internationally and domestically, but which, in fact, actually trigger or exacerbate such a downturn,” the article said.
The piece quotes a “leading Australian property source” warning that by cutting off the foreign buyer sector completely, “it is much more likely to be a self-fulfilling prophesy by depressing demand, creating oversupply and putting downward pressure on prices, thereby creating paper losses at the settlement date which would tempt buyers to walk away”.
“It will likely also have a broader impact of depressing housing prices across the whole economy. It is a kneejerk response to fraud concerns,” the source was quoted as saying.
“To my understanding the fraudulent activity has been linked mainly to one significant group, which has historically managed about 3000 sales into Australia each year.
“And notwithstanding the doctoring of supporting documentation, the actual settlement rates had remained high.
"That one property group needs to be taken to task, not the whole industry.”
NAB chief economist Alan Oster described the ISSA’s prediction of an imminent collapse as “garbage.”
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NAB's Alan Oster debunks ISSA’s prediction of an imminent property price collapse as “garbage”

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City rents continue to decline as asking rents decreases by 0.5 percent over the last 12 months, according to CoreLogic.
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City rents continue to decline: CoreLogic

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Developer Pointcorp sold out 50 percent of its residential development, Fabric in Brisbane's Teneriffe.
The weekend result saw the issuing of 35 contacts for a combined $23 million in sales.
"We were confident there is still a strong market in Brisbane for large quality apartments in exceptional locations and the weekend results confirm this," said Pointcorp director Godfrey Esmonde.
He noted the area has gone from being a heavy industrial region once dominated by heritage wool stores, warehouses and naval buildings to now undergoing a significant gentrification process with a modernised yet eclectic mix of heritage residences, dining and extensive commercial offerings.
"As one of the upcoming suburbs of the region, there’s a lot of promising commercial and residential activity occurring in the area.
Fabric is the only brand new development in the area, but takes inspiration from the patchwork of neighbouring wool stores and warehouses surrounding the area as well as NYC’s sleek loft conversions. 
"In a landmark position on the curve where the beauty of Florence Street meets the convenience of Commercial Road just 2.5 km from Brisbane’s CBD, Fabric’s architecture will be woven into Teneriffe’s vibrant social, creative, eclectic and cultural hub," he said.
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Pointcorp secures off the plan sales at Fabric in Teneriffe

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The Sydney actor Brendon Lunney is selling his tropical island, Turtle Island.
Set off the coast of Gladstone in Queensland for an expected price of about $4 million, it was one of only nine under freehold title. 
The 23-acre island which has its own helicopter pads, 15 large water tanks, vehicle accessibility via a car barge and a private jetty.
It has a development approval for a tourist resort. 
Lunney bought the island from property developer Steven Christofidellis, his wife, Marcia just two years ago for $2.145 million. 
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Actor Brendon Lunney selling Turtle Island

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Departing Melbourne Demons coach Paul Roos and wife, Tami have upsized to Brighton from Elwood.
They have spent $3.85 million on an ultra-contemporary four bedroom home bought from Allan Sinclair, the former Fitzroy player whose son, Callum plays for Sydney Swans.
They are Roos family are long-time Sydneysiders who quietly bought back last year, securing a $2.165 million Coogee apartment crafted by architects, Allen Jack+Cottier.
They had bought their $2.525 million contemporary Elwood property in 2014 after signing with the AFL club.
The property sold recently through Chisholm &amp; Gamon who secured $3.27 million from buyers agents, David and Kim Easterbrook.
This article was first published in the Weekend Australian Mansion Australia property section.
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Paul and Tami Roos upgrade to Brighton

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REINSW and the Law Society of NSW have created a new edition of the Contract for Sale and Purchase of Land 2016 to comply with new legislation.
The new version highlights a law which was brought in on 1 July 2016, affecting foreign residents purchasing a property over $2 million.
Under the new law, vendors selling a property for over $2 million will need to apply for a clearance certificate to avoid the purchaser withholding 10 percent tax from the purchase price.  
It also affects companies buying a property, if any of the owners are a foreign resident. Find out more <a href="https://www.reinsw.com.au/imis15_prod/Web/Posts/Latest_News/201603/New_withholding_tax_regime.aspx?WebsiteKey=fc035f62-aa1d-4485-9a5d-f9989cc37ba9" target="_blank">here</a>.
As a result, to deal with this new law the REINSW and Law Society of NSW have updated the Contract for Sale of Land and Purchase of Land. This new edition is not available as a paper copy but can be purchased in digital form by visiting the <a href="https://www.lawsociety.com.au/ECOS/index.htm" target="_blank">ECOS </a>website.
The new 2016 edition of the contract has prompts and clauses to deal with the new withholding tax law, and also includes a warning about the new <a href="https://www.reinsw.com.au/imis15_prod/Web/Hot_topics/Swimming_Pools/Web/Posts/Topics/Swimming_Pools.aspx?hkey=0ca667d3-d548-451b-a6a0-64a0e782a0ce" target="_blank">swimming pool compliance</a>. Find out about the main changes <a href="https://www.lawsociety.com.au/cs/groups/public/documents/internetcontent/907643.pdf" target="_blank">here</a>.  
Barry Johnston, Principal of Balmoral Partners said: “REINSW CEO Tim McKibbin has spent a lot of time time lobbying the government to make sure the legislation is workable.
“The new contract reflects this - so it is best practice to make sure you are using the latest contract because it is there to protect us.”
To find out more about the Contract for Sale and Purchase of Land 2016, watch the webinar with Barry and Gary Newton, Partner in TressCox Lawyers, <a href="https://www.youtube.com/watch?v=-hxgbBC4M5Q" target="_blank">here</a>. 
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Property 101: The new NSW contract for sale

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NSW's Southern Highlands and Tablelands offer a range of choices to investors and FHBs in the under or up to $500,000 property market, according to valuation firm Herron Todd White's July residential market review.
Southern Highlands
The market in the Southern Highlands for $500,000 is limited generally to new units in the townships of Bowral and Moss Vale and 10 to 15-year-old houses in the established subdivisions on the periphery of town.
Around the $500,000 mark will buy a new two- or three-bedroom unit in the township of Bowral or Moss Vale or a ten to 15-year-old project home needing some work in East Bowral or Moss Vale. Rentals are in the $500 to $550 per week range providing a good return. In Mittagong, a smaller project style home can be purchased for $500,000 in newer subdivisions on the outskirts of the township.
Property Observer found a three-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-moss+vale-121827434" target="_blank">27 Hoskins Street, Moss Vale, NSW 2577</a> (above) for $427,000, according to RP Data.
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Southern Tablelands
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The Southern Tablelands still offers choice and affordability to potential investors with lower price entry levels than the Highlands.
Depending on the dwelling, land size and quality of the home, between $475,000 and $500,000 will buy a new or modern home that will rent for between $470 and $500 per week. For capital growth, an investor could purchase an older style dwelling for between $350,000 and $400,000 and renovate.
"We have noticed over the past 12 months that out of town investors attracted to the region are purchasing multiple residential units or townhouse villa properties for between $200,000 and $250,000. These rent for between $220 and $300 per week providing a premium return when compared to traditional capital city rental returns," says the HTW report.
"This market continues to show good capital growth."
Rental levels in Goulburn are steady. Compared to 2015, the market has generally seen an uptick of around 15% in the Highlands and around 10% in the Tablelands.
"From our suggestions and focus in July 2015, we would consider reinvesting into these properties. Value and rental markets have improved in our region."
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NSW's Highlands and Tablelands offer good capital growth in $500,000 property market: HTW

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Property investors are still active, Adam Sparkes, the recently apppointed general manager of McGrath Projects says.
"They are perhaps taking a slightly more cautious approach, but for the right project they are happy to commit.
"A common thread amongst all buyers is they are looking for high quality developments offered with design excellence and good amenity.
"Location continues to remain important with a preference to city centres or close proximity to active retail, education and transport hubs for outer lying projects,” said Mr Sparkes who now leads a team of 63 at McGrath Projects, which includes 44 sales agents.
The chief executive John McGrath announced the appointment today saying he was intent on expanding the project division's footprint.
Adam started his real estate career with McGrath in 1998 and more recently the successful planning and marketing of the Central Park development in Chippendale, personally overseeing in excess of 1,000 sales.
Most recently, he was involved in the sellout of the second stage of Darling Square in Sydney, as well as overseeing the sales at Toorak Park (Armadale, Melbourne) and the Victoria Harbour Precinct (Melbourne) for Lend Lease. 
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