<p><a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> recently welcomed residents into Uno and Duo, marking the completion of the penultimate stage of its $1.2 billion West Village precinct in Brisbane's West End.</p>

<p>There are only two opportunities remaining in the two-tower stage known as The Allere Collection. Duo is fully sold out, but two penthouses have just been released in the sister tower Uno.</p>

<p>The sprawling penthouses, measuring upward of nearly 350 sqm, have been designed by renowned architecture firm Rothelowman to focus on multi-generational living. One penthouse has four bedrooms, the other five, as well as several living areas. A second entry to the apartments make them ideal for those with several generations living under one roof, allowing for greater independence and flexibility within the same home, an increasingly sought-after feature among extended families looking to remain connected without compromising privacy.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=5703]</p>

<p>Built by&nbsp;<a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a>, one of the best in the construction game, Duo forms part of a connected, pet-friendly vertical community that brings together two architecturally aligned towers with shared rooftop amenity.</p>

<p>Rothelowman Principal Jeff Brown previously described the design philosophy as centred on connection.</p>

<p>“When thinking of ways to nourish a soul one needs connection to self, to nature and to community,” Brown said.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>That ethos is expressed through Duo’s rooftop offering, which includes a pool and heated spa framed by mature planting, a private dining room and residents’ lounge, and BBQ facilities. On the lower levels, residents have access to&nbsp;work-from-home spaces, a workshop, and a pet parlour.</p>

<p>The rooftop captures views across the Brisbane River and back toward the city skyline, positioning it as both a retreat and a social anchor for residents.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=364091]</p>

<p>Owners in Duo also have access to Uno’s rooftop amenities, effectively doubling the shared facilities within the community. At Uno, residents can use a second rooftop pool, additional private dining and entertaining areas, a teppanyaki grill, and the Paw Pavilion, an off-leash space designed for residents’ dogs. The reciprocal access reinforces the project’s “vertical neighbourhood” model, where common areas are intended to extend the footprint of each apartment.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=5710]</p>

<p>The Allere Collection sits within West Village, a 2.6-hectare mixed-use precinct just 800 metres from the Brisbane CBD. Delivered progressively since 2016 on the former Peters Ice Cream factory site, the masterplan now integrates heritage buildings, retail and dining, health and wellness providers, and open green space into an established inner-west address.</p>

<p>Sekisui has released the final stage of the development, Callista on Park, set to be completed in Q2 next year. With the first release now 95 per cent sold out, limited large-scale three- and four-bedroom residences remain, priced from $2.6 million.</p>

<p>[smartcode_project_cta:default project_id=114215]</p>


Joel Robinson

Allere Collection residents move in as multi-award winning West Village enters its final chapter

<p>Construction is underway at <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a>, the boutique residential development by <a>Excelon Projects</a> on Stephen Street in Yarraville, following the appointment of <a href="https://www.apartments.com.au/builders/balmain-co">Balmain &amp; Co</a> as builder.</p>

<p>The milestone marks a significant step forward for the 53-residence project, designed by <a href="https://www.apartments.com.au/architects/six-degrees-architects">Six Degrees Architects</a> with landscape architecture by Simone Bliss Landscape Architects, conceived around a strong focus on community, craftsmanship and connection to nature.</p>

<p><a href="https://www.apartments.com.au/developers/excelon-projects">Excelon Projects</a>’ vision brings together 41 one, two and three-bedroom apartments and 12 townhomes arranged around a central landscaped garden, prioritising liveability in a low-rise, low-density format.</p>

<p>[smartcode_project:default project_id=144913 project_image_fid=297728]</p>

<p>Open-air corridors, a light-filled lobby and generous setbacks are intended to enhance day-to-day comfort while reinforcing the development’s community-oriented design approach.</p>

<p>Car parking has been located underground to prioritise shared green space and pedestrian movement through the site, allowing the landscaped garden to form the central organising element of the development.</p>

<p>Interiors incorporate custom pieces by Melbourne makers including leadlight pendants by Adadaz, hand-turned timber door handles by Auburn Woodturning, and blown-glass lighting by Ruth Allen, embedding a layer of local craftsmanship throughout the homes.</p>

<p>[smartcode_project:default project_id=144913 project_image_fid=297736]</p>

<p>Sustainability has also informed the design approach, with Yarraville Green targeting an average 7-star NatHERS energy rating. Passive design measures such as cross-ventilation and thermal mass aim to reduce reliance on mechanical heating and cooling, while rooftop solar panels will supply power to common areas and harvested rainwater will be reused for landscape irrigation.</p>

<p>Positioned along the quiet, tree-lined Stephen Street, Yarraville Green sits between Yarraville and Seddon villages, placing residents within walking distance of cafés, dining, boutique retail and the Sun Theatre.</p>

<p>Seddon Station is also a short walk away, ideal for residents seeking an inner-west address with strong amenity and transport connections.</p>

<p>Completion of Yarraville Green is anticipated in 2027.</p>

<p>[smartcode_project_cta:default project_id=144913]</p>


Balmain & Co appointed builder as construction begins at Excelon Projects’ Yarraville Green

<p>A long-stalled Mermaid Beach development site opposite Pacific Fair, previously earmarked for a twin-tower project, is set for a fresh development push with plans for a major mixed-use residential tower.&nbsp;</p>

<p>Billionaire garbo Ian Malouf's development company, REMI Residences, is proposing Project Elegance, a 44-storey tower with over 270 residential apartments and 88 short-term accomodation units at&nbsp;2065 Gold Coast Highway, Mermaid Beach, on the corner of Mermaid Avenue.</p>

<p>Malouf paid $23.76 million for the 3,783 sqm site in 2022, six years after it traded for $34.1 million when it was bought by Hubei United Investment Group.</p>

<p><br />
<span aria-label="First Look: REMI Developments plans major mixed-use tower with 360 apartments at stalled Mermaid Beach site image widget" contenteditable="false" role="region" tabindex="-1"><img alt="First Look: REMI Developments plans major mixed-use tower with 360 apartments at stalled Mermaid Beach site" data-entity-type="" data-entity-uuid="" data-widget="image" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mermaid%20Beach%20da%20podium.png?VersionId=yRYSSPItvCA5ZeQ49LlwkQYVn7OhEqIC" /><span style="background: url(&quot;https://d9.urban.com.au/core/assets/vendor/ckeditor/plugins/widget/images/handle.png&quot;) rgba(220, 220, 220, 0.5); top: -15px; left: 0px;"><img alt="" data-entity-type="" data-entity-uuid="" draggable="true" height="15" role="presentation" src="data:image/gif;base64,R0lGODlhAQABAPABAP///wAAACH5BAEKAAAALAAAAAABAAEAAAICRAEAOw==" title="Click and drag to move" width="15" /></span></span></p>

<p>&nbsp;</p>

<p>The design statement by DKO says Project Elegance "represents a holistic response to its coastal and urban context. It draws upon site, climate, and landscape to create a composed architectural outcome that prioritises occupant experience, public interface, and long-term viability via vibrant and active uses."</p>

<p>They say the subject site&nbsp;occupies a distinctive island parcel with three street frontages and prominent visual exposure to passing visitors.</p>

<p>"This unique position allows the development to form a panoramic dialogue with water and city, setting the foundation for a climate-responsive, site-specific architectural expression.&nbsp;The podium base, inspired by the region’s sandstone headlands and coastal setting, and adopts a sculpted and grounded character that provides a stable counterpoint to the slender tower above."</p>

<p>&nbsp;</p>

<p><img alt="First Look: REMI Developments plans major mixed-use tower with 360 apartments at stalled Mermaid Beach site" data-entity-type="file" data-entity-uuid="4f088e10-6493-49d4-83cd-10fc039318ac" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mermaid%20Beach%20da%20tower.png?VersionId=Sbglj0tNBqyvY5V_DlVH.bvjXi8kBbfl" /></p>

<p>Residents and guests would have access to multiple communal recreation levels. Plans include a shared recreation deck on level six, with a pool and three padel courts. There will be a residential-only pool on level seven, and an upper-level communal space only accessible by those buyers towards the top of the tower.</p>

<p>&nbsp;</p>

<p>Ground-floor commercial spaces are proposed to operate between 5am and midnight, contributing to an activated street frontage along the busy Gold Coast Highway corridor.</p>

<p>The site sits within the High Density Residential zone and a Light Rail Urban Renewal Area, where planning policy encourages higher-density development close to transport infrastructure and services. The planning report states the project aims to “ensure the efficient reuse of this centrally located property” and support the transformation of inner-city areas into “more vibrant, compact, interesting, connected and active” precincts.</p>

<p>&nbsp;</p>

<p>The proposal marks the latest attempt to unlock the high-profile parcel, which previously carried approval for the “Elegance” twin-tower development, a project that included more than 500 apartments but ultimately stalled after sales activity ceased in 2019.</p>

<p>REMI Developments has been increasingly active in the Gold Coast property market, with the Malouf-led group positioning itself around premium residential and lifestyle-focused projects as the region continues to attract both interstate buyers and international interest.</p>

<p>Malouf is one of Australia's most impressive entrepreneurs, having sold his waste business fore more than $500 million, having started only with a small truck at 18 years old.</p>


First Look: Billionaire Ian Malouf plans Mermaid Beach tower

<p data-end="346" data-start="96">A State Significant Development proposal from Ecove Group could see two high-rise residential towers developed above an ALDI-anchored retail podium in Gordon.</p>

<p data-end="596" data-start="353">The 28-storey towers, dubbed Eight 10, would become the tallest in the sleepy Upper North Shore suburb, which has been stirred by changes to the Low to Mid-Rise Housing Policy aimed at triggering greater density around transport hubs.</p>

<p data-end="811" data-start="603">Ecove Group’s plans for 810 Pacific Highway, a 2,357 sqm site around 400 metres from Gordon railway station, include 180 apartments, 39 of which would be dedicated as affordable housing.</p>

<p data-end="811" data-start="603">Architecture firm PBD said in its Design Report the site "presents an exciting opportunity to positively contributes to the surrounding context, enhances the overall urban experience."</p>

<p><img alt="First Look: Ecove lodges State Significant Development plans for dual-tower “Eight 10” project at 810 Pacific Highway, Gordon" data-entity-type="file" data-entity-uuid="e50141fa-fb0b-44b3-bf9b-c6d87b993c3b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Eight%2010%20podium.png?VersionId=YTgQPBxNnmQwr6x2AJSpVZ1COqa.9oLQ" /></p>

<p>The site previously received approval for a development comprising 56 apartments above retail in 2018.</p>

<p>PBD noted in its report that the planning&nbsp;context for the site has "evolved significantly since the original consent was issued."</p>

<p>In April 2024, the Department of Planning, Housing and Infrastructure (DPHI) identified the site as being located within a Transport Oriented Development (TOD) precinct. In parallel, Ku-ring-gai Council progressed a preferred planning framework for Gordon Town Centre, including proposed amendments to the Ku-ring-gai Local Environmental Plan 2015 (KLEP 2015).</p>

<p><img alt="First Look: Ecove lodges State Significant Development plans for dual-tower “Eight 10” project at 810 Pacific Highway, Gordon" data-entity-type="file" data-entity-uuid="cf65fb26-a163-41ea-a4d3-8ddbeabd67e4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Eight%2010%20MAP.png?VersionId=vrQJzXSg3xRH.APBmtth5mA2adPmUPjc" /></p>

<p>PBD said the proposed development "responds to the amended KLEP 2015 and, in addition, seeks to utilise the floor space ratio and height incentives available under Chapter 2, Part 2, Division 1 of the State Environmental Planning Policy (Housing) 2021."</p>

<p>Late last year the first project in Gordon through the NSW Government's Housing Delivery Authority was approved. That was for 106 apartments across two connected seven to eight-storey buildings.</p>


Ecove plans 28-storey apartment towers in Gordon

<p><a href="https://www.apartments.com.au/developers/graya">Graya</a> has set its sights on one of Brisbane’s scarce remaining riverfront development opportunities.</p>

<p>They have spent $17 million on an 810 sqm site across 16-18 Sandford Street, where it is planning SILK, a 15-storey apartment tower with just 22 apartments.</p>

<p>Planning documents outline a single tower designed to take advantage of the site’s northerly outlook toward the river and Brisbane CBD.</p>

<p>There will be eight two-bedrooms and 14 three-bedroom apartments on offer, each either half- or full-floor.</p>

<p><img alt="Graya" data-entity-type="file" data-entity-uuid="059e1aa4-695c-4556-bafa-e8b5970c06f5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-12%20at%203.07.50%E2%80%AFPM.png?VersionId=tEqwv_m8HYhrXSCStOMFHvGZZ5WgKfEx" /></p>

<p>&nbsp;</p>

<p>According to the Town Planning Assessment, the proposal "showcases a high quality architectural and landscape design outcome that is enhanced by the amenity of the Brisbane River… and provides a subtropical design response that celebrates Brisbane’s climate and lifestyle.”</p>

<p>Ground level includes landscaped communal areas facing the river alongside a gym and outdoor garden space, while the rooftop terrace will feature multiple leisure amenities like swimming pools,&nbsp;dining and barbecue facilities, as well as outdoor relaxation and yoga spaces.</p>

<p><img alt="Graya" data-entity-type="file" data-entity-uuid="93982dbb-9f27-409b-a319-bd6f458f9ea7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-12%20at%203.09.05%E2%80%AFPM.png?VersionId=gCaaW82pEBxMvXkVkEm4TC_o7_UXA82p" /></p>

<p>Architecturally, the tower form draws inspiration from the movement of water along the river edge. Design documentation describes the building as “a form sculpted by flow, shaped by shifting water,” with curved forms, varied materiality, and sculptural elements used to soften the building’s visual bulk. Sandstone, an iconic material throughout St Lucia, is reinterpreted through a mix of refined and split-face textures across the façade.</p>

<p>The Sandford Street frontage is intended to present an articulated façade featuring vertical landscaping and sculptural architectural elements, helping the tower integrate with the evolving high-density character of the riverfront strip while maintaining visual interest from both the street and river corridor.</p>

<p>Graya has continued to expands its footprint across South East Queensland, with projects under construction across both Brisbane and the Gold Coast.</p>


GRAYA unveils plans for SILK in St Lucia

Unit Construction

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<div>EXPERT OBSERVER</div>
<div> </div>
<div>Apartment construction slowed to the lowest level in half a decade in Q2 2020. </div>
<p><a href="https://1.bp.blogspot.com/-wP3hUYQF3EY/X0YcU3no3RI/AAAAAAAA30g/ytsTuEHVBakHQpCMl4Y5KEp4XqHm6IwQACNcBGAsYHQ/s1454/3%2B-%2BCopy.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-wP3hUYQF3EY/X0YcU3no3RI/AAAAAAAA30g/ytsTuEHVBakHQpCMl4Y5KEp4XqHm6IwQACNcBGAsYHQ/s640/3%2B-%2BCopy.jpg" width="640" data-original-height="826" data-original-width="1454"></a></p>
<div> </div>
<div>The slowdown was largely driven by Melbourne and its lockdown, while the other major states have seen things stabilise in this sector. </div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-WxLE6cVvp9c/X0YcU246TNI/AAAAAAAA30c/qOE9wmmN-pYr8zw9n-AtLfDNPenV9JfJQCNcBGAsYHQ/s1406/Resi1%2B-%2BCopy.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-WxLE6cVvp9c/X0YcU246TNI/AAAAAAAA30c/qOE9wmmN-pYr8zw9n-AtLfDNPenV9JfJQCNcBGAsYHQ/s640/Resi1%2B-%2BCopy.jpg" width="640" data-original-height="814" data-original-width="1406"></a></div>
<div> </div>
<div>Mining construction is now on the rise again in Western Australia, while major engineering projects in New South Wales also provided a timely boost.</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-_yeVcbsaSbo/X0Ycbwkx8fI/AAAAAAAA30k/hhG2QqEZL1kqbpMXbx7iBWqjYBy8X7f4wCNcBGAsYHQ/s1398/2.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-_yeVcbsaSbo/X0Ycbwkx8fI/AAAAAAAA30k/hhG2QqEZL1kqbpMXbx7iBWqjYBy8X7f4wCNcBGAsYHQ/s640/2.jpg" width="640" data-original-height="828" data-original-width="1398"></a></div>
<div> </div>
<div>Thanks to engineering, the preliminary figures for construction hardly declined in Q2, down by just -0.7 per cent and holding up at more than $50 billion.</div>
<div> </div>
<div>The quarterly peak was $66 billion in 2017.</div>
<div> </div>
<div>Brighter times ahead for Western Australia on the back of the strength in iron ore and gold. </div>
<div> </div>
<div>As always, there's more detailed analysis from data supremo James Foster <a href="http://jamesfostermacro.blogspot.com/2020/08/australian-construction-activity-in-07" target="_blank">here</a>. </div>
<div>
<p><em><span>PETE WARGENT</span> is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em><span> </span></p>
<p><span> </span></p>
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pwargent-M4siyDbqQY

Apartment construction continues to slide

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<p>EXPERT OBSERVER</p>
<p>Units offer affordable options for many looking to enter the housing market for the first time, down size or simply own a pad close to a city centre. </p>
<p>I analysed the CoreLogic Settlement Risk data to show the potential number of new units set to be completed over the coming years and just how the numbers look.</p>
<p>Over the next 12 months, an additional 94,471 new units will be completed nationally.</p>
<p><img src="https://www.urban.com.au/images/2018/8/31/Units%20built%201.JPG" alt=""></p>
<p>This figure represents a 3.5% uplift in total unit supply. Over the next 24 months, the unit supply uplift is expected to be much greater at 251,751 units which is an increase of 9.3% on current supply.</p>
<p>Across the Greater Capital City Statistical Areas (GCCSA), Sydney (76,977) and Melbourne (78,689) are expected to see the greatest increase in unit supply over the next two years.</p>
<p>While the number of unit new units due for settlement is much lower in Brisbane and Adelaide, these two cities are expected to see the greatest percentage increase in new unit supply over the next two years, with CoreLogic data suggesting an uplift of 18.4% and 12.5% respectively.</p>
<p>The top 25 SA3 regions are expected to record the greatest number of new unit settlements over the next two years, Brisbane Inner is expecting an additional 9,732 units over the next two years which translates to an increase in overall unit supply of 29.7%.</p>
<p>Melbourne City is expected to see an 8.1% increase in unit supply over the next two years with an additional 8,040 units while Sydney Inner City is set to add an additional 7,202 units, an uplift of 6.1%.</p>
<p>The top 25 list is dominated by regions of Melbourne which account for 12 of the 25 regions listed while Sydney accounts for nine, Brisbane three and Perth one.</p>
<p>The main difference across the capital cities is that Sydney’s supply of units is set to increase across geographically diverse areas along transport spines while most other cities are seeing the supply increase exclusively within inner city areas.</p>
<p><img src="https://www.urban.com.au/images/2018/8/31/Units%20built%202.JPG" alt=""></p>
<p>Over the past five years we’ve seen a significant increase in overall unit supply.</p>
<p>At the same time, housing market conditions have deteriorated over the past year, particularly in Sydney and Melbourne, with dwelling values falling and rental growth slowing.</p>
<p>In the face of weakening housing market conditions, both of these cities retain a high volume of unit stock to be completed. As the new supply comes on line over the coming years, it is anticipated that this could lead to further</p>
<p><em>Cameron Kusher is a research analyst for CoreLogic</em></p>
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ckusher-ujnxiKuFQs

How many units are set to be built over the next two years? Cameron Kusher

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<p>The retirement owner, operator and manager Aveo Group has received planning approval for a $60 million project on the Sunshine Coast.</p>
<p>Set within Harmony, the $3 billion master planned community at Palmview; the 5.4-hectare site will accommodate 138 independent living units, providing homes to more than 200 seniors upon completion.</p>
<p>Aveo will commence construction in April 2018 to be built over five stages featuring two and three-bedroom units, with the first 63 units planned in the first stage with completion anticipated by <span data-term="goog_495085112">June 2020</span>.</p>
<p>Amenities also planned in the first stage include a community centre featuring a café, media room, recreational and entertaining areas, as well as a range of professional health and wellness facilities.</p>
<p>Aveo Group CEO Geoff Grady said Harmony’s location was a key consideration when choosing the site, with the Sunshine Coast experiencing a 21% growth in senior residents in the five years leading up to 2016.</p>
<p>Palmview will be Aveo’s third development on the Sunshine Coast alongside flagship community Aveo Peregian Springs Country Club,</p>
<p>Strategically located in the heart of the Sunshine Coast on 378 hectares, Harmony will deliver more than 4,800 homes for 12,000 future residents, 100 hectares of open space and a 60km network of pedestrian path and cycle ways. </p>
<p>AVID Property Group General Manager Queensland Bruce Harper said intergenerational planning has been an important focus at Harmony since the project’s inception more than a decade ago.</p>
<p>“In the past, most new residential developments really only catered towards younger families, with the expectation that people would move on as their circumstances changed,” Harper said. </p>
<p><span lang="EN-US">“Needless to say, we are thrilled that Aveo Group will deliver a state-of-the-art retirement community right here at Harmony.”</span></p>
<p><span lang="EN-US"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/23/Palmview_Streetscape.jpg" alt=""></span></p>
<p>Situated on Harmony Boulevard in Palmview, the community neighbours Sippy Downs, Buderim, Mooloolaba, Maroochydoore and Kawana Waters. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/22/Palmview_Lounge.jpg" alt=""></p>
<p> </p>
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j.ballantyne1990-6AQqhLzZaK

Aveo receives planning approval for $60 million Harmony, Sunshine Coast community

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<p>As Brisbane gears up to reap the rewards of tourism and migration from the Gold Coast Commonwealth Games in 2018, another trend is taking shape.</p>
<p>The price performance between houses and apartments is expected to diverge owing to an oversupply in unit construction, says a new research report.</p>
<p>Apartment approvals in Brisbane are well above their 10-year average, while approvals for new houses remain around normal levels, according to a report by investment consultancy Momentum Wealth, Property Market Spotlight: Brisbane. It suggests that investors should focus on inner-metro houses, with large land content and low supply for better returns.</p>
<p>While demand-side fundamentals are positive, including a growing labour market, population growth, a balanced economy and high housing affordability, the difference in the supply-side fundamentals is of concern. </p>
<p>Momentum Wealth’s managing director Damien Collins says there will likely be “a greater divergence between the performance of houses and apartments, given these supply-side fundamentals”. </p>
<p>In the city’s current growth cycle, which started in the middle of 2012, Brisbane house prices have risen 18.9%, while the median unit price has risen only 11.2%. The median house price (annual) was $497,000 while for units, it was $397,500, the report says. </p>
<p>There have been mixed performances between houses and units over the past 12 months with houses up 4.8% over the year to June 2016 compared to 2.4% growth for units. </p>
<p>Other measures, such as the Corelogic Hedonic Home Value Index October 2016 results, actually have unit values down 1.4%. When analysing either measure, it is clear that units are underperforming against houses in a sign that new supply is beginning to reduce growth. </p>
<p>There are early signs that buyer demand is waning amid record-high levels of residential construction on the back of the 2014 Brisbane Planning Scheme being implemented. The total number of properties listed for sale increased 7.4% over the past 12 months and the number of deals has fallen for the past three quarters. The average time on market for houses and units is 55 days and 74 days respectively, an increase of seven days on the same time last year. Despite this, there remains very little change in discounting within the market, suggesting that owners are being realistic with their asking price. </p>
<p>“The research report explains that as the pipeline of new apartment projects comes to market, it’s going to weigh on rental returns and capital growth for these types of assets, particularly in those areas with a high concentration of new stock.”</p>
<p>“However, the research report shows that the number of houses under construction is in line with the 10-year average, meaning this segment will not reach a state of oversupply at current rates, which will help to buoy prices.”</p>
<p>Top areas with high apartment approvals </p>
<p>The suburbs with the highest concentration of apartments approved for construction include South Brisbane (2,084), Brisbane City (1,731), Newstead – Bowen Hills (1,493), West End (846) and Chermside (704). </p>
<p>“Investors should avoid apartments in areas with high levels of new supply waiting in the pipeline because when it comes to market the new stock will weigh on capital growth of similar stock in the surrounding areas,” added Collins.</p>
<p>“While we don’t expect all of these new apartment projects to go ahead, there will still be a considerable amount of new apartment supply coming to market in Brisbane over the next few years.”</p>
<p>“In the Brisbane market, investors should instead focus on established houses, in inner-metropolitan areas with large land content and low supply.”</p>
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jonathanchancellor-7SQnKwU6yx

Brisbane to see widening of gap between units and houses

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<p><span>The unit market in Townsville remains flat according to Herron Todd White, who see marked fluctuations over the past five years driven by the clear out of distressed developer stock and number of new unit releases.</span></p>
<p><span>Herron Todd White's September Month in Review said construction costs has forced developers to reduce the size and scope of their product to meet a price point. </span></p>
<p><span>"Another factor to impact the unit market over the past years has been the impact of escalating body corporate fees," the report noted.</span></p>
<p><span>"Our current assessment of the unit market is that it remains relatively flat overall at a combined total of around 50 to 60 new and established unit sales per month. </span></p>
<p><span>"Our unit survey as at the June quarter indicates a supply of 84 new developer units available for purchase. Current supply consists of three new units available in the CBD and 81 in suburban developments (within developments of 20 or more units)."</span></p>
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Townsville's unit market remains flat: Herron Todd White

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<p><span>Construction in Darwin suburbs remains unabated with incentives to first home buyers and the Real Housing for Growth investment program driving investment, according to Herron Todd White's September Month in Review.</span></p>
<p><span>Herron Todd White noted the high construction level of new units the CBD and suburbs</span><span style="line-height: 1.3em;"> Palmerston, Nightcliff, Millner, Coconut Grove and </span><span style="line-height: 1.3em;">Berrimah have a mix of </span><span style="line-height: 1.3em;">medium density, large complexes with ground level and two storey semi detached dwellings.</span></p>
<p><span style="line-height: 1.3em;">"The big shift in the unit market has been seen in the rental market. For the year to June 2015 in the inner Darwin sector,one bedroom units have reduced 9.5%, two bedroom units have reduced 12.5% and three bedroom units have reduced 16.5%," the report highlighted.</span></p>
<p><span style="line-height: 1.3em;">"This has certainly been a welcome relief to all tenants in the market, swinging the pendulum back to the tenant after a number of years in the landlord’s corner."</span></p>
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Incentives driving Darwin property investment: Herron Todd White

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<p><span>A significant boost in unit construction since mid 2005 has seen six major complex built along the Victoria Parade river front in Rockhampton, however over time the average size of units has decreased due to a focus on the bottom line, according to Herron Todd White.</span></p>
<p><span>Herron Todd White's September Month in Review noted s</span><span style="line-height: 1.3em;">maller units equals more units and these have proven to be </span><span style="line-height: 1.3em;">very attractive to the market.</span></p>
<p><span style="line-height: 1.3em;">"Despite the significant boost in unit numbers over the past ten years the attached residential space still reflects only a very small percentage of the entire Rockhampton and surrounding residential markets," the review noted.</span></p>
<p><span style="line-height: 1.3em;">"This has been a key factor in the successful marketing and solid sales rates which have enabled these developments to get out of the ground.</span></p>
<p><span style="line-height: 1.3em;">"In 2005 we saw large spacious 3-bedroom units (160 square metres plus) selling from $330,0000 off the plan compared to Empire where much smaller 1-bedroom units of 50 plus square metres have sold for $330,000 off the plan.</span></p>
<p><span style="line-height: 1.3em;">"Looking forward the notable downturn in the resource industries across Central Queensland and general lack of confidence across the market may result in an extended period where the Rockhampton skyline remains unchanged for some time into the future."</span></p>
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