Growing national developer Time &amp; Place has announced its fifth new apartment development.

With two projects in Manly and two upcoming in Surry Hills and Potts Point, the developer, which expanded beyond Melbourne just a few years ago, is now heading to Mosman. It is planning 53 new apartments on Redan Street.

The 3,233 sqm site, spanning <a href="https://www.apartments.com.au/new-apartments/40-48-redan-street-mosman-nsw-2088">40–48 Redan Street</a> with frontage to Redan Lane, is located just under 400 metres from Spit Junction Town Centre. It is reported the developer paid around $100 million for the five-site amalgamation.

Time &amp; Place, founded by Tim Price and backed by James Packer’s private investment firm NPACT, has submitted the project as a State Significant Development through the NSW Government’s Housing Delivery Authority pathway.

Of the 53 apartments, 42 will be released to the market, with the remaining 11 allocated as affordable housing in line with NSW Government requirements.

fjc Studio has designed the building. In its Design Report, the architect said the diverse mix of dwelling types and sizes, including 11 two-bedroom affordable housing units, 40 three-bedroom apartments, and two four-bedroom residences, will support a broad demographic, including families, downsizers, and key workers.

The development will rise to nine levels, a height encouraged by the NSW Government due to the site’s proximity to Spit Junction, which has been identified as a low- to mid-rise centre. Developments within a certain proximity to these centres are permitted increased height.

fjc said the project “achieves an appropriate density outcome for its setting by balancing increased housing supply with strong amenity performance,” adding that it “makes a measurable contribution to NSW housing supply targets through the delivery of additional dwellings and dedicated affordable housing.”

The new development will replace five existing two-storey homes.

“By aligning with the objectives of the Housing SEPP and applying careful architectural and urban design principles, the development provides high-quality residential accommodation that integrates sensitively within its established Mosman context and delivers enduring benefits to residents and the wider community.”

Mosman has become increasingly popular with developers in recent years.

Developer Abadeen has been particularly active, with Mosman Residences currently on the market and under construction on Clifford Street. It also has an upcoming Burran Avenue project, comprising just three apartments on the Balmoral Slopes, and recently secured the Midas and Honeysuckle nursery site on Military Road.

Prosker Property has a project on Redan Lane, just a few doors down from Time &amp; Place’s proposed development.

Developers including Toohey Miller, DARE Property Group, and WINIM also have projects underway in the area. In 2024, a five-year target was set for the Mosman LGA to increase housing supply by 500 dwellings by 2029.

Time &amp; Place entered the Sydney market with Two Tides, its under construction Manly development. Given its sales success, it has secured another development in the area, more boutique, facing the beach on North Steyne.

They are hoping to launch their redevelopment of The Chimes in Potts Point this year, and next year will look to take to market Marlborough House, an adaptive re-use of the landmark David Jones warehouse in Surry Hills.

Joel Robinson

Time & Place to take on Mosman apartment market

Brunswick’s civic heart continues to consolidate around the Merri-bek Arts and Culture Precinct, where a growing cluster of cultural institutions, recreation facilities, and public infrastructure has created one of the inner north’s most defined community hubs.&nbsp;

Within this evolving precinct, <a href="https://www.apartments.com.au/new-apartments/saxon-street-by-milieu-brunswick-31-saxon-street-brunswick-vic-3056">Saxon Street by Milieu</a> introduces new housing directly alongside the civic anchors that shape daily life in the suburb.

At 31 Saxon Street, the project sits immediately beside Brunswick Baths and within moments of Brunswick Library and Town Hall, longstanding institutions that support both community services and everyday amenity.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348840]

Next door, the newly delivered Balam Balam Place arts precinct has emerged as a central piece of Merri-bek Council’s cultural strategy, bringing together creative studios, exhibition spaces, maternal and child health services, and community programming in a purpose-built civic facility. Together, these destinations have reinforced the surrounding blocks as a focal point for public life in Brunswick.

This part of <a href="https://www.apartments.com.au/developments/brunswick-vic-3056">Brunswick</a> forms a key pocket within the suburb’s designated Major Activity Centre, where long-term planning has prioritised walkability, civic investment, and increased housing supply close to transport and services. The surrounding street network reflects that strategy, with compact blocks, established retail corridors and active transport links supporting a lifestyle that is largely navigable on foot.

Within a few minutes’ walk, Sydney Road delivers one of Melbourne’s most recognisable streets, known for its long-running mix of independent retailers, international dining venues and everyday convenience. Tram routes along Sydney Road provide frequent connections south toward the CBD and north through Brunswick and Coburg, while Jewell Station on the Upfield line sits within roughly a ten-minute walk, offering direct train access into the city.

[smartcode_project:default project_id=136434 project_image_fid=348839]

Active transport also plays a significant role locally. The nearby Upfield Bike Path forms a key north–south cycling corridor linking Brunswick through Parkville and into the central city, reinforcing the area’s reputation as one of Melbourne’s most accessible inner-urban neighbourhoods for cyclists and pedestrians alike.

The surrounding civic cluster extends beyond cultural infrastructure. Siteworks, a nearby creative hub supporting artists and community organisations, adds to the concentration of cultural activity in the immediate area. Educational institutions such as Brunswick North Primary School, Brunswick Secondary College and RMIT’s Brunswick campus are also within easy reach, contributing to the suburb’s diverse resident base spanning families, students and professionals.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348841]

Designed by <a href="https://www.apartments.com.au/architects/jackson-clements-burrows-architects">Jackson Clements Burrows Architects</a> in collaboration with <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> and landscape architects <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, the nine-level building has been shaped to respond to the surrounding streetscape, with lower levels aligning to the street and upper storeys stepping back to soften its scale and improve solar access.&nbsp;

Curved balcony forms reference nearby heritage architecture, while the development’s public realm improvements include a widened footpath along Saxon Street to strengthen pedestrian connections between the precinct’s civic sites.

Sustainability also underpins the project’s approach. The building is designed to operate entirely on electric infrastructure supported by rooftop solar, with an average 7.5-star NatHERS energy rating and EV-charging readiness across the development. Shared resident amenities will include a landscaped rooftop terrace with barbecue and covered dining areas intended to encourage informal interaction between residents.

Saxon Street marks developer Milieu's fifth project in Brunswick and continues its focus on design-led infill housing across Melbourne’s inner suburbs.&nbsp;

Construction has commenced through reputable builder Manresa, who will complete the project in 2027.

[smartcode_project_cta:default project_id=136434]

Saxon Street by Milieu connects residents to Brunswick’s cultural and civic core

Within <a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a>, <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>&nbsp;takes a different approach to larger residences, moving away from the constraints of a single level.

In Grand Residence 3.05, known as the Lustre, plays out across two levels, with a mezzanine configuration that is uncommon in apartment living.

Lustre is a four-bathroom residence where the layout creates a clear distinction between shared and private zones, with uninterrupted views toward the Dandenong Ranges extending the sense of openness from the main living areas.

Entry is to the primary living level, where the kitchen, dining, and living areas are arranged as one continuous space. Timber flooring runs throughout, with a fireplace set within the living zone. Full-height glazing brings in natural light, supported by double glazing that improves thermal performance.

[smartcode_project:default project_id=342 project_image_fid=357506]

The kitchen is configured as both a working and social space. A large island bench provides seating, while a walk-in pantry extends storage beyond typical apartment expectations.

Gaggenau appliances, including a 900mm gas cooktop and 600mm oven, are integrated into a layout that connects directly to the adjacent dining and living areas, and outward to the terrace. This balcony includes a built-in BBQ, reinforcing the apartment’s capacity to accommodate larger gatherings without compromising internal space.

A dedicated laundry room, powder room, and a wine cellar area sit discreetly off the main living zone, ensuring that functional requirements are resolved without encroaching on primary living areas. The master suite is also located on this level, designed as a retreat with a walk-through wardrobe and an ensuite that includes double vanities, a bath, and a dedicated dressing table.

[smartcode_project:default project_id=342 project_image_fid=357508]

The mezzanine level introduces a second layer of living, rather than simply additional bedrooms. Two large bedrooms with built-in robes are positioned alongside a central bathroom, while a secondary lounge and study area create a self-contained zone suited to children, guests, or extended family. A large storage room further supports long-term usability, addressing a common shortfall in apartment design.

This separation of levels is central to how the residence functions day-to-day. It allows the lower level to operate as the primary entertaining and living space, while the upper level provides privacy and flexibility. The result is closer in feel to a townhouse or standalone home, but with the benefits of apartment living, security, and low maintenance.

[smartcode_project:default project_id=342 project_image_fid=364553]

Candela is close to 80 per cent complete, with Ironside delivering construction ahead of its expected October 2026 completion. The development comprises 58 residences, with a strong owner-occupier profile and a mix of one to four-bedroom apartments and loft-style townhouses.

Candela has exclusive access to private amenities, including a residential lounge and rooftop terrace. A charming café and a lifestyle wellness centre are located on the ground level, designed to foster community connection and extend the living experience beyond individual apartments without competing with the scale of homes like Lustre.

Candela, positioned in the heart of Ivanhoe Village, reinforces the practicality of the address. With a Walk Score of 90, residents are within immediate reach of cafés, retail, parklands, and Ivanhoe Station, while also benefiting from proximity to established schools and healthcare services.

[smartcode_project_cta:default project_id=342]

Inside Lustre: Grand Residence 3.05 at Candela Ivanhoe

<a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>’s <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a> is being shaped around a simple but increasingly rare premise in apartment development: that the built environment should actively support residents’ wellbeing.&nbsp;

Located on the former ABC Studios site on Gordon Street in Melbourne’s south-east, the new neighbourhood sits on an expansive 11,740 sqm site neighbouring the heritage-listed Rippon Lea Estate, whose gardens date back more than 140 years.

Rather than positioning wellness as an add-on amenity, the development integrates it into the physical planning of the site. Architecture by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> is arranged across six low-rise buildings set within extensive landscaping designed by <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, with more than 40 per cent of the land dedicated to gardens and green space. Walking trails, pocket gardens, and mature trees are threaded between buildings, creating a network of green corridors that encourage residents to move through the precinct on foot and spend more time outdoors.

[smartcode_project:default project_id=136535 project_image_fid=288420]

Milieu has intentionally framed these gardens as an extension of the neighbouring Rippon Lea Estate. More than 16,000 new plants will be introduced across the site, with species carefully selected to protect and complement the area’s ecological significance. The approach focuses on strengthening existing environmental conditions while establishing new habitats that support native wildlife, reinforcing the role of the landscape as both an active ecosystem and a defining element of daily life.

A private resident gate will provide direct access to the historic grounds during opening hours, allowing residents to move seamlessly between the development’s landscaped gardens and the estate’s expansive lawns, lakes, and mature trees. The project’s gardens will also be maintained by the same gardeners responsible for Rippon Lea, reinforcing the visual and ecological continuity between the two landscapes.

Complementing the landscape is a dedicated wellness hub designed to support everyday health and recovery. Residents will have access to a gym alongside yoga and Pilates studios, while mineral pools and infrared saunas provide spaces for relaxation and restorative wellbeing. Shared lounges, workshop spaces, and pet care facilities expand the concept of wellness beyond fitness, creating opportunities for social connection and community interaction within the precinct.

Environmental performance is another key component of the project’s wellbeing focus. Elsternwick Gardens will be entirely fossil-fuel-free, with homes designed to operate on renewable electricity rather than gas. Passive design strategies, including cross-flow ventilation, high-performance insulation, and thermally broken double glazing, are intended to maintain comfortable indoor temperatures while reducing energy demand. Solar photovoltaic systems will power common building services, while rainwater harvesting will help irrigate the extensive landscaping across the site.

[smartcode_project:default project_id=136535 project_image_fid=361030]

Milieu Founder and Managing Director Michael McCormack says the scale and setting of the project allowed the team to take a different approach to urban apartment living.

“This site represents a once-in-a-lifetime opportunity to build something truly special,” McCormack says.

“Through that process, we arrived at a design that centres on a fully realised natural landscape – a series of private, interconnected gardens that encircle the homes and extend seamlessly from Rippon Lea Estate.”

Elsternwick Gardens will comprise three residential offerings, Gordon Place, Ripponlea Terrace, and The Garden Pavilion, each designed for owner-occupiers and shaped around high-quality interior design by Woods Bagot, K.P.D.O., and Flack Studio. The first stage, Gordon Place, includes one-, two-, and three-bedroom apartments designed with a strong focus on indoor-outdoor living and sustainability.

[smartcode_project:default project_id=136535 project_image_fid=288412]

Milieu recently appointed <a href="https://www.apartments.com.au/builders/brady-constructions">Brady Constructions</a> to deliver the project, marking a key milestone for the development. The appointment follows the demolition of the former studio buildings on the Gordon Street site, with construction progressing toward the delivery of the nature-led community.

Situated between the established villages of Elsternwick and Ripponlea, the development balances its garden setting with strong urban connectivity. Residents will be within walking distance of cafés, restaurants, and local retail, while nearby train and tram connections provide quick access to Melbourne’s CBD and the beaches of Elwood and St Kilda.

With construction underway and the first residents expected to move in by early 2027, Elsternwick Gardens represents a growing shift in apartment development toward environments that prioritise wellbeing as much as density or location. By placing landscape, sustainability, and shared spaces at the centre of the design, Milieu is positioning the project as a residential neighbourhood where wellness is not just promoted, but built into the structure of everyday life.

[smartcode_project_cta:default project_id=136535]

Elsternwick Gardens' wellness-first design strategy

Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Red & Co unveils amenity-rich Como development in Varsity Lakes

Whitsunday

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Local agents confirm Whitsunday is not seeing any reductions in sale values, however volumes of sales are lower than what was previously occurring prior to the pandemic, according to the June Herron Todd White (HTW) residential report. 
The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
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The report notes the Whitsundays are starting to reopen with cafes and some tours now operating within the government restrictions. Cafes and restaurants are still providing take away services. People are out and about enjoying the lightening of the restrictions.
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"Renovations in the Whitsundays! While I have not seen any contracts for renovations and or additions over the last couple of months, it must be happening as Bunnings appears to be the best shop in the Whitsundays! 
"The car park appears to be busy all week end. While we had to all stay at home it appears that the DIY home owners have been hard at work!
"We need to get our tourists back. Let’s hope that we can track on a positive note with limited to no cases new cases of Covid 19," the valuation firm said. 
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<img src="blob:https://www.urban.com.au/f7585dff-728e-4628-ae03-c0828bd0c00e" alt="page26image3754256" width="0.500000" height="0.500000">A current listing is a renovated Dingo Beach house with a price guide of $372, 600.</div>
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<div class="section">Set on an 839sqm block, the <a href="https://www.realestate.com.au/property-house-qld-dingo+beach-133788654" target="_blank">81 Pioneer Drive </a>home (pictured below) comprises two bedrooms, two bathrooms and double garage. </div>
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<div class="section">It also features modern kitchen, vinyl plank flooring and full A/C throughout. </div>
<div class="section"><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/2020/7/6/dingo%20beach%201.jpg" alt=""></div>
<div class="section">A recent sale was a renovated three bedroom house in Proserpine. </div>
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<div class="section">The family home at<a href="https://www.realestate.com.au/sold/property-house-qld-proserpine-132372750" target="_blank"> 5 Kanandah Street </a>(pictured below) was sold for $321,000.</div>
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<div class="section">Set on a 1,343sqm block, it comes with three bedrooms, stylish kitchen, multiple living areas and lock up garage. </div>
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Whitsunday sees increasing DIY home renovation activities: HTW residential 

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A freehold Shute Harbour waterfront site in Queensland's Whitsunday Islands has been snapped up for $2.65 million.
The development site at <a href="https://www.propertyobserver.com.au/https://raywhitewhitsunday.com.au/properties/sold-commercial/qld/shute-harbour-4802/other/2257179" target="_blank">3344 Shute Harbour Road</a> is on two titles totalling 8,199sqm.
The property was offered via an expressions of interest campaign and was sold by Andrew Burke of Ray White Special Projects Queensland, and Mark Beale, Principal of Ray White Whitsunday.
The asset received six offers during the campaign and they were from a mix of marine industry, land bankers and residential developers, Burke said.
“The vendor was a local businessman who previously had the site used as a hotel before Cyclone Debbie in 2017 destroyed the buildings, and with retirement on the horizon, they decided to sell.
“The buyer was from regional NSW but was familiar with the location as they frequently holiday nearby," Bruke said. 
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The Whitsundays offered a collection of beaches surrounded by waters decorated with coral gardens.
"Shute Harbour is commonly described as the natural harbour location south east of Airlie Beach. It contains a pocket of development isolated from the centre of Airlie Beach by a significant national park," ” Beale said.
Zoned mixed use, the site offers opportunities for residential, tourist accommodation, business, retail or service industry.
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Whitsunday waterfront site sells for $2.65 million

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Whitsundays has a balanced housing market, according to Herron Todd White’s latest report.
The property valuation firm says that Whitsundays has a tightening rental vacancy trend with a fair demand for new houses.
<a href="https://www.propertyobserver.com.au/images/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.59.37%20am.jpg" target="_blank">Click to enlarge</a>
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This is supported by a steady trend of new houses being constructed as well as demand for new housing.
Whitsundays' housing market is starting to recover although new properties are almost never sold at prices that exceed their potential resale value.
A two bedroom house at <a href="https://www.realestate.com.au/property-house-qld-whitsundays-124269270" target="_blank">3264 Shute Harbour Road</a>, Whitsundays (above) is currently listed for $2,000,000.
A seven bedroom house at <a href="https://www.realestate.com.au/property-house-qld-whitsundays-121901782" target="_blank">383 Mandalay Road</a>, Whitsundays (below) is currently listed for sale.
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Whitsundays' housing market balanced: HTW

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A growing regional economy, driven by rising tourism numbers and major projects, has Whitsundays Airlie Beach poised as a lucrative opportunity for property investors, according to real estate group PRDnationwide.
All the key drivers of a rising property market are in place and properties are selling at the fastest pace in nine years, says PRDnationwide Whitsunday principal Christie Leet.
“Activity in the property market picked up to a good pace in the second half of 2016, pushing the Whitsundays into a balanced market and ready for another major upswing (after nine years of weak prices),” said Leet.
“The Australian dollar has stabilised at a level that entices overseas visitors and we have domestic visitors taking advantage of low airfares and increased capacity.
“Properties are selling quickly again and the excess housing and rental stock has all but vanished.”
Also, land is limited in the Whitsundays, with much of it taken up by Conway National Park and the last beachfront blocks that can be developed on the Whitsunday Coast are now under construction at Funnel Bay.
“With major construction and refurbishment projects under way or about to begin, there will be even greater demand for housing as construction workers move into the region,” he said.
The Whitsunday Coast Airport has an expansion project on the table with a $59 million masterplan, including plans for the introduction of international flights.
Redevelopments at Daydream Island Resort ($30 million) and South Molle Island ($200-$300 million), as well as a $600 million redevelopment at Lindeman Island Resort, are fuelling jobs growth on the Whitsunday Coast.
Leet said the start of construction at the Adani Carmichael Coal Project, a $16 billion investment in the Central and North Queensland economies, and the reopening of the Collinsville mine, which is in the Whitsunday Shire, would provide even greater demand on housing in the Whitsundays.
“The workforce will be fly-in-fly-out and we have seen in the past that miners like to set up a home base where the family can enjoy the best North Queensland has to offer,” he said.
“Thousands of miners and their families will also be looking for somewhere to relax and enjoy their time off without having to travel too far.”
Tiger Airways is adding 110,000 extra seats into the Whitsundays from March and Jetstar has announced they will add another 65,000 seats into the Whitsundays from April.
Census 2011 results from the Australian Bureau of Statistics indicate that the construction, transport and utilities sectors employ the most permanent residents in the region combined.
According to Queensland government estimates, the Whitsunday region had a resident population of 34,016 as at June 2013. Medium population projections suggest the region may experience average population growth of 2.1% (or 691 persons) per annum over the next two decades, with an estimated resident population of 49,700 persons by the end of 2036. Based on an average household size of 2.4 persons per residence, this level of population growth may yield demand for an additional 288 residential dwellings per annum over the same period. With the average number of new dwelling approvals for the last 5 years at 173p.a, this leaves an expected shortage of 115 dwellings per year. This shortage will push house, land and rental prices upwards as the demand increases.
“The lifestyle benefits of the Whitsundays, represented by the Great Barrier Reef, the islands, beautiful beaches (including one of the world’s best), and natural environment, are well documented and have helped the region become the number one Great Barrier Reef destination.”
But it is the underlying strength of tourism and the local economy, combined with the timing of the market, that is behind the sudden move in the property market.
“The all-important construction industry is ramping up with key projects already under construction or about to start but the low vacancy rates are creating the demand needed for more accommodation projects to come online,” Leet said.
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Whitsunday's growing economy puts property back in overdrive: PRDnationwide

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GUST OBSERVER
We have compared some sales data on Airlie Beach and Cannonvale units against Mackay units. 
When looking at the Mackay unit sales (not Mackay Harbour),  the number of sales has dropped from a high 215 sales in 2013 to financial year 2016 only recording 40 sales (median price $283,000). Mackay Harbour achieved 7 sales throughout the 2016 financial year, which was down from 30 sales in the 2011 financial year (median price $465,000). Cannonvale units have bounced back a little in the number of sales with 78 recorded sales, up from 52 sales in the 2015 financial year (median price $290,000 – up from $250,000).
<a href="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%201.09.48%20PM.png" target="_blank">Click to enlarge</a>
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Airlie Beach unit sales have been reasonably consistent last year with 72 sales, which is down from 84 in the previous year. 
The median price has dropped to $348,000. It is interesting to see the difference in the median prices for the units at Mackay comparing to Airlie Beach. In my mind, the units in Airlie Beach still represent great value for money when you can get an excellent ocean view starting as low as $230,000. The tourism numbers coming into the region are still going very strong and this is reflecting on the gross income on the holiday let apartments. 
Stephanie Bacon from our sales team has a severely reduced apartment at the Port of Airlie for only $635,000 which has income statements of an identical unit in the complex that is 100 percent holiday let for well over $80,000 per annum.
<a href="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%201.11.28%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%201.11.28%20PM.png" alt="">
 
On a net basis this is around 4 percent which is very unusual for holiday letting properties in Airlie Beach. 
Most holiday let apartments return between 2 percent and 3 percent nett. 
Add the fact that the complex is one of the highest rated complexes in the area and it could be the best buy in your portfolio. <a href="https://campaign.raywhite.com/collect/click.aspx?u=9GxQQ+FJ4ndpBD8fNX7G8KClk3SSuzTl45qNoLo6BuasQ/3DOXSINysEh1ywyRwxrIldNM9w6T4ciReJKplyDA==&amp;rh=ff0096295de6c5cc6f21e214cf46a47315f84bb7" target="_blank"></a>
 Mark Beale is principal of Ray White Whitsunday and can be contacted <a href="https://raywhitewhitsunday.com.au" target="_blank">here</a>.
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