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

Residential Resales

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The off the plan buyer of a sub-penthouse in Sydney’s Loftus Lane development has scored a big resale as the project nears completion.

The sub-penthouse A603 in the luxury project near Sydney Harbour sold for $5.4 million, having been snapped up at the sales launch back in mid-2017 for $4.975 million direct from the developer AMP Capital.

Ayre Real Estate director Craig Donohue sold the apartment to a Northern Beaches local who had been looking for a Sydney CBD base for around 12 months.

<a href="/buildings/quay-quarter-18-loftus-street-sydney"><img alt="" height="889" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/8_loftus_lane_circular_2.jpg" width="1200"></a>

Donohue said the buyer was shown a few apartments in established and other new developments in the CBD but Loftus Lane's location was a stand out.

"He also loved the fact that this property had a substantial and very usable outdoor space and was really impressed with the design of the building", Donohue said.

Due to settle in April, 8 Loftus Lane has been designed by Studio Bright and will comprise 106 apartments across three Art Deco-style buildings.

<a href="/buildings/quay-quarter-18-loftus-street-sydney"><img alt="" height="730" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/8_loftus_2.jpg" width="1200"></a>

Loftus Lane is part of Quay Quarter Sydney, the dynamic new neighbourhood and major redevelopment of two complete city blocks up near Circular Quay.

When the apartments hit the market in mid-2017, they all sold out within two hours of the launch.

Donohue says there is strong buyer demand for luxury apartments in the CBD.

“The Sydney CBD landscape is changing from a business district to a luxury world class lifestyle hub”, Donohue says.

“As the new developments come closer to completion, buyer can not only see what the final product looks like, but also plan to take occupancy this year which is generating lots of excitement”.
</body></html>

Ayre Real Estate director Craig Donohue, who sold the apartment, says there is strong buyer demand for luxury apartments in the CBD.

Off the plan buyer success in Sydney’s Loftus Lane development

<html><body>
Despite a slowing property market, the vast majority of home sales (nine out of 10) in Australia are still turning a profit for their vendors, according to CoreLogic's latest quarterly Pain &amp; Gain Report.
Across the nation, 91.1% of all properties that resold in the December quarter went for a price above their previous purchase price.
Investors are more likely to sell properties at a loss than owner-occupiers, according to the new CoreLogic report.
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The quarterly CoreLogic Pain &amp; Gain report tracks home sales across Australia and reveals the proportion of sales being sold at a profit versus those being sold at a loss.
Over the three months to December 2017, 91.1% of all properties that resold transacted at, or above, their previous purchase price.
The 91.1% figure was up slightly from 90.9% at the end of the third quarter of 2017 but slightly lower than the 91.3% over the final quarter of 2016.
CoreLogic recorded a reasonable gap between the proportions of houses reselling for a gross profit; 92.3% of all resales, while 88.2% of all unit resales were at a profit.
Research analyst Cameron Kusher said with property values continuing to increase over the final quarter of 2017, albeit at a more moderate pace, the proportion of properties resold at a profit has continued to climb.
Profits earned from property resales over this period totalled $17.832 billion.
By comparison the resale losses amounted to just $442.0 million in realised losses. The analysis found that the vast majority of the $17.832 billion in profit was generated by Sydney and Melbourne and accounted for 33.1% and 29.4% of total profits respectively. As a comparison, these two cities accounted for just 11.3% and 6.6% of the total value of losses nationally over the quarter. Across the nation, a higher proportion of houses are resold at a profit than units.
According to Kusher, this trend was also replicated across the combined capital city and combined regional markets. Sydney was the only region to record a greater proportion of units resold for a profit over the quarter than houses, although Hobart had an equivalent share for houses and units. (refer breakdown in attached report)
“Over recent years, value growth for units has substantially underperformed that of houses, as a result in most regions of the country a higher proportion of houses resold for a profit than units,” Mr Kusher said.
In Melbourne, units were almost 10 times more likely to resell at a loss than houses while in Brisbane units were almost 9 times more likely to resell at a loss than houses. In Canberra units were 7.4 times more likely to resell at a loss than houses.
For the capital cities, the proportion of houses reselling at a gross profit was higher over the quarter in Brisbane, Adelaide and Darwin but lower elsewhere. For units, there was a higher proportion of resales at a profit over the quarter in Sydney, Melbourne, Adelaide, Hobart and Canberra.
</div>
</div>
</div>
</div>
<div title="Page 2">
<div>
<div>
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In the regional housing markets, the proportion of houses reselling for a profit increased over the quarter in Regional NSW, Regional Vic, Regional WA and Regional Tas. For units, profit-making resales increased over the quarter in all regions except for Regional NT.
The regions now showing the lowest proportion of resales at a loss are those surrounding Sydney and Melbourne. At the other end of the spectrum, three regions, all of which are linked to the resources sector, recorded at least half of all resales at a loss over the quarter. The regions nationally with the highest proportion of resales at a loss are typically linked to the resources sector. It should be noted that in many of these regions the share of losses is now lower than at the peak however instances of loss remain elevated; a reflection that housing values remain well below their peaks in these areas.
Investors continued to be more likely to resell their properties at a loss than owner occupiers during the final quarter of 2017. Over the quarter, 7.5% of owner occupied properties sold at a loss compared to the 11.3% of investor owned properties. Sydney was the only major region of the country in which a higher proportion of investors resold their property at a loss than owner occupiers.
93.9% of capital city properties resold by owner occupiers transacted at a profit over the December 2017 quarter compared to 90.7% of investor owned properties. Throughout all capital cities the gap in profit making-resales between owner occupiers and investors was not that large however, across individual cities the results were much more varied. Melbourne investors were 4 times more likely to resell a property at a loss than an owner occupier, in Brisbane investors were 2.6 times as likely to sell at a loss and in Canberra they were 5.2 times as likely to sell for a loss.
Across the regional areas of the country, investors were much more likely to resell a property for a loss (15.3%) than owner occupiers (9.8%). While in each region owner occupiers were more likely than investors to resell for a profit, the gap between the two vendor type performances was nowhere near as great in regional areas as what was recorded in some capital city markets.
Kusher said clearly any property owner will aim to make a profit from the sale of their property.
“In a falling market owner occupiers may be more prepared to sell at a loss if they are purchasing their next home at an equivalent or greater discount. Meanwhile, investors, because of taxation rules, would seemingly be more prepared to incur a loss because they, unlike owner occupiers, can offset those loses against future capital gains.”
“If home values fall, investors may be more inclined to sell at a loss and offset those losses which in turn could result in much more supply becoming available for purchase at a time in which demand for housing falls because values are declining.”
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“More up-to-date dwelling value data has shown that in most capital cities dwelling values have been falling over recent months while regional values have continued to increase, albeit at a slower pace. These trends are expected to continue in 2018 and given that it should be expected that the proportion of properties reselling at a profit may begin to reduce over the coming quarters,” he said.
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jrobinson-rf4aSBido9

Nine out of 10 resales show profit despite slowing market: CoreLogic

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Over the March 2016 quarter, 9.2 percent of all apartments in capital cities resold recorded a gross loss when compared to their previous purchase price according to CoreLogic.
The report said over the first quarter of 2016, 6.9 percent of capital city properties resold at a loss compared to 13.1 percent of regional properties.
"Over the past quarter, the proportion of loss making resales has increased from 5.6 percent at the end of 2015 across the combined capital cities and fallen from 13.4 percent in regional markets. In fact, regional areas of the country have just recorded their lowest proportion of loss-making resales since the three months to July 2011," it said.
<a href="/images/2016/06/30/Screen%20Shot%202016-06-30%20at%2011.49.03%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/30/Screen%20Shot%202016-06-30%20at%2011.49.03%20AM.png" alt="">
CoreLogic's Cameron Kusher said the trends in regional areas are shifting with the proportion of loss-making resales trending lower in areas linked to tourism and lifestyle.
"On the other hand, housing markets linked to the resources sector are generally seeing an elevated level of loss-making resales after housing market conditions in many of these locations have posted a sharp correction,” he said.
"Nationally there was $361.0 million in realised losses over the quarter at an average of $66,073 and $12.9 billion in realised profit at an average of $239,855. Across the capital cities, there were $187.0 million in losses with an average of $72,042 per loss-making resale compared to $10.2 billion in profit at an average of $294,045.
"The combined regional areas recorded $174.7 million in losses at an average of $60,689 compared to $2.7 billion in profit at an average of $140,992. The average losses were greater in the capital cities; however they also generally experienced much greater profits, more than double those in regional areas."
 
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jonathanchancellor-7SQnKwU6yx

One in nine apartments selling for a loss with Melbourne even higher: CoreLogic

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The vast majority of property owners who sold their home in the December 2015 quarter sold at in excess of their previous purchase price according the latest CoreLogic RP Data quarterly Pain and Gain Report.
The Pain &amp; Gain Report found that 91.6 per cent of properties resold for profit over the quarter with 31.2 per cent of homes selling for more than double their purchase price. The total value of all profit was $17.1 billion with the average gross ‘gain’ $270,842 per sale.
Only 8.4 per cent of homes resold recorded a gross loss compared with their original purchase price, up slightly from 8.3 per cent for the September quarter. The total value of loss over the quarter was $399 million. The average ‘pain’ felt for these properties was $69,493.
Report author Cameron Kusher said, “Whether for investment or owner occupation, the results highlight the fact that property ownership should be seen as a long-term investment.”
“Across the country, our results show that homes which resold for a loss had an average length of ownership of 6.7 years. For gross profit sales, the average length of ownership was recorded at 10.1 years, while homes which sold for more than double their previous purchase price were owned for an average of 17.7 years.
“Our results have shown that investors over owner occupiers were more likely to resell their properties at a loss. Over the quarter, 7.2 per cent of owner occupier sales nationally were at a gross loss compared to 10.6 per cent for investor owned stock.
“The losses experienced by investors comes down to the fact that this group may be more willing to accept a loss on sale due to the tax implications of being able to offset the loss against future capital gains,” he said.
The Pain &amp; Gain report findings also confirmed a proportion of loss-making resales across the national capitals are now trending lower expect for Perth and Darwin where the instances of losses are increasing.
Mr Kusher said, “The trends reflect the fact that over the past year, home values have increased in all capital cities other than Perth and Darwin. Not so surprising is the result for Sydney and Melbourne; both cities have seen significant increases in home values over recent years and therefore, fewer loss-making resales occurred compared with other capital cities.”
Within the regional areas of the country the proportion of loss-making resales is higher than those within the capital cities. The proportion of loss-making resale’s is currently trending  lower in Regional NSW, Regional Queensland,  Regional Tasmania and is fairly flat in Regional Victoria and higher elsewhere.
<h3>Proportion of total resale’s at a loss/gain, houses vs. units, December 2015</h3>
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Mr Kusher said, “Capital city housing markets continue to record a lower proportion of loss-making resales than regional areas of the country. We’re seeing the trend shifting in regional areas with the proportion of loss-making resales trending lower particularly in areas linked to tourism and lifestyle factors.
“Housing markets linked to the resources sector are generally seeing an increase in loss-making resale’s after housing market conditions in many of these locations have posted a sharp correction,” he said.
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jchancellor-FAypfDUnLy

The worst regions for loss making property sales: CoreLogic RP Data pain gain report

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Across Darwin over the three months to September 2015, 16.9 percent of homes resold at a loss compared to 17.2 percent at the end of the previous quarter and 9.4 percent a year ago, according to the most recent CoreLogic RP Data Pain &amp; Gain report. 
The relatively less developed Litchfield region has recorded no loss-making resales over the quarter compared to 15.9 percent in Palmerston and 19.5 percent in Darwin. 
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