Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

Wollongong

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The upturns in Newcastle and Wollongong lagged the Sydney market and prices have also held up better through the Sydney market downturn, according to the latest BIS Oxford Economics Residential Property Prospects 2019 to 2022 report. 
The report suggests the upturns have been partly supported by stamp duty exemptions being offered for first home buyers on purchases under $700,000.
Being closer to Sydney, the price falls will reduce trade-down activity into Wollongong.
Associate Director and report author, Mr Angie Zigomanis said, “Wollongong is closer to Sydney and prices have moved more in tandem as people in Wollongong have the ability to commute to Sydney."
"Newcastle is further away and the property market is more reliant on the local economy, which was hampered during the Sydney upturn by a fall in coal investment."
"It therefore didn’t have the upturn of Sydney and so has not really had much of a correction."
"It also means that there is more upside to prices because it is now more affordable relative to Sydney and therefore attractive for people to move north as the local economy improves, and it is also starting from a lower base," he stated.
The firm said the Wollongong median house price is forecast to rise by 5% in the three years to June 2022.
In comparison, greater affordability in Newcastle is likely to provide more upside, with an aggregate 9% rise forecast.
After an estimated 18% decline in the median house price in Sydney in the two years to June 2019, house price growth is expected to stabilise through 2019/20 as affordability improves and credit conditions ease.
A total rise of <a href="/expert-insights/buying/sydney-median-house-price-expected-to-rise-6-by-2022-bis-oxford-economics">6% is forecast for Sydney’s median house price</a> in the three years to June 2022.
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Newcastle and Wollongong residential markets performing well: BIS Oxford Economics  

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Wollongong was in the bottom three when it came to clearance rates at auction this weekend, with a rate of just 38 percent.
Around 32 properties went to auction in Wollongong, however, only 10 sold of the 26 confirmed results.
Overall, auction activity picked up over the week with 2,119 homes taken to auction.
There was an increase in auction volumes over the week with 2,119 homes taken to auction across the combined capital cities, up from 1,851 over the previous week although lower than this time last year (2,519).
Preliminary results show a clearance rate of 49.8 per cent across the combined capital cities, up from 47.0 per cent last week, however much lower than 12 months ago (64.7 per cent), marking the 4th consecutive week where the clearance rate has been below 50 per cent.
Properties caught up in low clearance rate in Wollongong included <a href="https://www.realestate.com.au/property-townhouse-nsw-wollongong-129269514" target="_blank">11/3 New Dapto Road, Wollongong</a>  (pictured above) which did not sell.
The three bedroom two bathroom townhouse set over two story's features a double lock up garage.
With a price guide of $725,000 to $750,000, the 224 sqm home last sold in 2002 for $365,000.
<img src="https://www.urban.com.au/images/2018/10/22/Wool%202.JPG" alt="">
Another home that didn't succeed was <a href="https://www.realestate.com.au/property-house-nsw-balgownie-129423138">21 New Mount Pleasant Rd, Balgownie</a> (pictured above).
Set on 980 sqm the four bedroom two bathroom home features a wraparound balcony.
The price guide for the home was $1,050,000 to $1,150,000.
<img src="https://www.urban.com.au/images/2018/10/22/Wool%203.JPG" alt="">
However a home that did manage to sell in Wollongong is <a href="https://www.realestate.com.au/sold/property-house-nsw-figtree-129435162" target="_blank">14 Camden Grove, Figtree</a> (pictured above).
The four bedroom two bathroom hope is close to the Wollongong CBD.
Last sold in $705,000 for 2016 the home sold for $750,000, showing some price growth.
This was an appreciation of 3.14% annually.
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Wollongong's 38 percent weekend auction clearance rates

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The Wollongong Mall building leased to CBA is set for October 23 auction.
Located at 141-145 Crown Street, the three level building is leased to the bank until 2022 with options to 2032.
The building was built in 2012 to CBA's corporate standards.
Positioned in the Central CBD near Wollongong train station, the 858 square metre building has double retail frontage to Crown Street Mall.
<img src="https://www.urban.com.au/images/2018/10/15/Wollongong%201.JPG" alt="">
The property is set on a 569 square metre site an hour south of Sydney.
The net income on the property is currently $610,382 per annum plu GST and the listing, held by Burgess Rawson, notes the building has "substantial tax depreciation benefits".
In 2010, the holding sold for $3.41 million.
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CBA's Wollongong Mall premises to go under the hammer 

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Wollongong has had another weak auction result.
With a clearance rate of just 48%, over half of the 40 properties taken to auction were passed in.
This is in line with Wollongong's recent performances as two weeks ago there was an even lower clearance rate of 34.5% on 41 total properties. 
<img src="https://www.urban.com.au/images/2018/8/21/Wollongong%20weakness.JPG" alt="">
However one home that succeeded at auction was <a href="https://www.realestate.com.au/sold/property-house-nsw-mangerton-128892022" target="_blank">21 Byarong Avenue, Mangerton</a> (pictured above), a four bedroom two bathroom recently renovated house.
The Mangerton dwelling sold for $957,000 this Saturday through Belle Property.
The 588 square metre holding last sold in 2015 for $625,000.
<img src="https://www.urban.com.au/images/2018/8/21/Woll%202.JPG" alt="">
Following the trend of passing in at auction is 10a Love Street, a three bedroom two bathroom home (pictured above).
Close to beaches and cafes the home comes with an ocean view and an asking price of $819,000.
The dwelling was last listed in 2015 for 100 days after which it was taken off the market.
<img src="https://www.urban.com.au/images/2018/8/21/Woll%203.JPG" alt="">
Another home that failed to sell is an original fifties-era cottage bordering Towradgi Creek which had a price range of $890,000 to $960,000.
Set on a 518 square metre block the <a href="https://www.belleproperty.com/listings/678933/59-lake-parade-east-corrimal-nsw-2518/" target="_blank">59 Lack Parade, East Corrimal</a> home (pictured above) is a near public transport options as well as the local school.
The home has only been on the market for 35 days and has never sold before.
<img src="https://www.urban.com.au/images/2018/8/21/Woll%204.JPG" alt="">
A third house in Wollongong that failed to sell is <a href="https://www.belleproperty.com/listings/675726/52-edgar-street-towradgi-nsw-2518/" target="_blank">52 Edgar Street, Towradgi</a>.
The four bedroom two bathroom home (pictured above) comes equipped with both a study and two parking spaces.
The dwelling's current price guide is holding at $1.5 million - $1.6 million.
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Wollongong's weakness at auction continues 

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Sydney developer Level 33 has received approval for a new mixed-use project at 9-15 Railway Parade in Wollongong.
It will span 18 levels.
Skye Tower will feature 105 apartments, ground floor retail and around 585 square metres of commercial space.
Eddy Haddad of Level 33 said he had been receiving a steady stream of enquiries from local buyers and investors, 
Level 33 has already completed successful projects in Wollongong, selling out the nine-story ViVid apartments in Auburn Street, a site that had been vacant for 15 years.
The group also has another major project at Denison St Wollongong, plans for which have been submitted to council.
Will Wehbe of St Trinity Property Group is project marketing the new mixed-use tower.
“Wollongong is currently experiencing a surge in popularity from Sydneysiders looking for more affordable property prices, with the region’s seaside location proving a big drawcard for many buyers, particularly those buying their first homes,” Wehbe said.
“To date we’ve had over 50 interested parties who have confidence in the property.”
Haddad said that Skye Wollongong will be officially launched mid-year.
Prices for a one-bedroom apartment at Skye are expected to start at around $460,000, while two-bedrooms including a secure car space will start at $555,000 and three-bedrooms from $750,000.
Construction is expected to commence late in 2018 and be completed by the end of 2020.
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18-storey Wollongong tower receives DA approval

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CuffeLinks investment newsletter publisher Chris Cuffe is selling his Bulli weekender since he's now spending most of his time at the Terrey Hills acreage bought for $4.75 million in 2015. He's also secured a Pittwater waterfront.
Cuffe paid $1.54 million for the vacant 670 sqm waterfront parcel in 2004 before commissioning the <a href="https://www.realestate.com.au/property-house-nsw-bulli-126493350" target="_blank">modern brick home</a>.
Looking out over McCauley's Beach, the home has five bedrooms and three bathrooms.
<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/2017/10/04/Bulli2.jpg" alt="">
Bevans Thirroul agents Justin Sydenham and Jade O'Bryne have set an October 21 auction, suggesting a guide of around $3 million.
Cuffe has held senior roles at Colonial First State and Challenger Financial Services.
He has donated a significant amount of his management fees to charity.
This article was first published in the Sunday Telegraph.
 
 
 
 
 
 
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CuffeLinks investment newsletter founder lists Bulli weekender

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A substantial site in Wollongong for which Visionary Investment Group planned a Greg Norman-designed 18-hole golf course and housing has been rejected by the local council.
The matter is now on appeal before the Land and Environment Court.
VIG had sought to create create 105 residential lots on the site to form an integrated resort on the 187-hectare site on Avondale Road in Avondale sub-division, The Australian Financial Review reported.
However, the Wollongong City Council rejected it because of "environmental impact, traffic and planning concerns”.
VIG declined to comment in detail due to court action but said it was "fully committed to long-term investment in the Illawarra region".
"Our integrated resort development would not only showcase the best that the region has to offer but more importantly bring employment and long-term sustainable economic growth to the region, especially in tourism, hospitality, retirement and other services sectors," VIG chief executive Michael Guo was quoted by the AFR as saying.
"We will continue working with the community, council and all stakeholders to make our integrated resort development the true pride of Illawarra."
VIG had worked on Avondale for several years, reflecting a trend for developers turning towards masterplanned communities and house and land development, as the apartment prices cool in Sydney.
Wollongong is also popular because of its access to a university and growing economy.
In fact, a BIS Shrapnel report found sometime back that Wollongong was beating Newcastle in attracting potential property buyers priced out of the Sydney market, with Wollongong's vacancy rates falling and the median house price rising by 14% in 2014/2015 according to The BIS Shrapnel Residential Property Prospects 2015 to 2018 report.
 Last year, Visionary Investment Group had also announced the arrival of hotel and residential brand Silkari with the launch of three properties.
 
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Visionary's plans for Greg Norman-designed golf course and housing project rejected by council

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SPONSORED POST
Sam Khalil's property investment outlook investigates and dissects recent market changes that Australian property investors should be aware of.
In part one, Sam Khalil gave his thoughts on <a href="/expert-insights/investing/sam-khalil-s-property-investment-outlook-part-one">Australian property investment in 2017</a>.  He looked at performance in the capital cities and identified regions that will continue to grow despite changing market forces. 
In part two, Sam investigates and dissects recent market changes that property investors should be aware of.
Stricter lending rules
There are far tighter lending guidelines than ever before. This has all been generated by ASIC, worried about high levels of risk in a red hot market.  It has trickled down to all the major lenders. CBA and Bankwest are refusing to refinance investors. While AMP will no longer offer new investor loans through their mortgage channel. Other lenders such as MyState have imposed a 12 basis point margin on all variable and fixed rates, for both investment and residential loans. Meanwhile APRA is bringing in a 10 percent speed limit for investors. There could be more restrictions on the horizon with APRA worried about the level of risk in the market.
Overall lenders are charging more for investment loans and then again for interest only. This will make people revaluate their lenders and question if they will purchase at all.
Foreigners locked out of the market
There has been a distinct clamping down on foreign investment over the last year. Westpac is not writing loans for non-residents, ANZ is no longer lending to non-residents and the CBA is following suit. Other banks have similar tight restrictions. The sum effect has been that foreign investors are walking away in droves, many unable to get funding. This in turn will have a flow on effect to the construction industry, impacting on the number of new builds. There’s also speculation that foreign investors will favour apartments over houses even more than they currently do because they need a lesser deposit.
Development slowing down
Developers have seen significant tightening in lending for projects. This has slowed down supply, which may be a stabilising measure to avoid any large property bubble bursting.  Banks have especially tightened down on lending to residential property developers with an oversupply of apartments and high-rise towers an especial concern. This has led to many developers to put projects on hold and others look to for alternate funding.
Shortage of land
There’s a desperate demand for new land supply in <a href="https://www.dpn.com.au/learn/market-updates/macarthur-the-sleeping-giant-of-sydney" target="_blank">Sydney’s fringe</a> as well as Wollongong and Newcastle. Developers are finding it extremely difficult to process land through local councils and then register the land. We must hope that the NSW government can fast track services to bring land to the market sooner so pricing doesn’t continue to increase dramatically due to lack of supply. This is the primary issue affecting housing affordability: land supply and how quickly it arrives to the market. Remember there’s always a lag between development and construction and the frantic nature of the market itself.
Apartment oversupply
There’s a real concern about apartment oversupply in the major capital cities, especially in Melbourne. The Commonwealth Bank estimates 140,000 new apartments will be built in the city from 2016 to 2018. This oversupply will ultimately lead to a drop in prices. Some experts are anticipating drastic drops of up to 20 percent in some suburbs by 2019.  So projected growth for apartments in many major cities has hit its peak and is estimated to correct or be sideways for next 5-8 years, with owners losing money and not getting capital growth. So there’s a clear message here: be very wary of apartment purchasing for the next few years. Research the area and project meticulously.
The global market
Well, it’s almost impossible not to talk about the political upheavals last year. From Brexit through to Trump it was a year of surprises. Trump’s avowal to increase spending around infrastructure and his distancing from the Asia trade pacts will certainly have an effect on Australia. His promise to pour money into defence and infrastructure will act as a fiscal stimulus. It’ll also mean lots of capital fleeing Australia and going into the USA. Potentially Australia will have to lift interest rates to compete and keep capital here. This in turn will effect market sentiment. Properties and projects that are vulnerable will be exposed awfully quickly.
You can read the original article <a href="https://www.dpn.com.au/learn/market-updates/sam-khalil%E2%80%99s-property-investment-outlook-part-two-winter-2017" target="_blank">here</a>.
For more information from <a href="https://www.dpn.com.au/" target="_blank">DPN</a>.
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Sam Khalil’s property investment outlook - part two

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SPONSORED POST
The Australian property market is shifting and changing thanks to a multitude of forces. DPN's Managing Director, Sam Khalil shares his thoughts on the current market and reveals property investment opportunities in the Wollongong, Newcastle and Brisbane areas.
The last five years have seen a phenomenal surge in the demand for property. It’s been a perfect storm of consistently low interest rates; an endless, thirsty demand for stock and foreign investment at record high levels. This in turn pushed up construction and new builds and kept up supply.
However, like all good things it had to come to an end. This is not to say the market is in trouble by any means. More that it’s no longer like 2012 or 2013 where property investment was like shooting fish in a barrel. Almost anyone with a little knowledge and a lot of luck could do well in the prosperous conditions.
But things have changed in <a href="https://www.dpn.com.au/learn/market-updates/sam-khalil%E2%80%99s-property-outlook-for-summer-2016" target="_blank">the last 12 months</a> and so 2017 and beyond will still present golden opportunities, but only for the canny and well researched investor.
How property investment is changing in the capital cities
2016 saw Melbourne and Sydney continue to rise significantly compared to other Australian cities. Despite gloom and doom predictions - remember there were lots of experts claiming Melbourne would slump in 2016 and that Sydney would stagnate - both cities outperformed expectations. In fact, dwelling prices rose 15.5 percent in Sydney whilst Melbourne had a rise of 13.7 percent for the year.
Perth had experienced seven quarters of negative growth and is in major recovery mode after its boom and bust. However, it may well have reached the bottom and signs are that it’s slowly starting to ascend. In the last 3 months there has been a small increase in property prices for the first time in a long time. It’s still a long way back, but investors who can’t afford the big capital cities may start looking in this direction.
Brisbane started a gentle ascent and should continue to find value in housing and land appreciation, whilst inner city apartments may experience price correction as I detail in part two.
So how will 2017/2018 play out? I’m confident we’ll see rises in Sydney and Melbourne as demand and sentiment still remain positive. Brisbane investment property will continue to follow closely behind. The lending measures that may impact the market and sentiment are the move in interest rates from lenders separate to the Reserve Bank.
Look to the regions
Land in <a href="https://www.dpn.com.au/learn/market-updates/macarthur-the-sleeping-giant-of-sydney" target="_blank">South Western Sydney</a>, Wollongong and Newcastle remains very tight with strong local and investment demand helping sustain and increase prices of land.  These areas will only continue to grow in 2017. It’s not just investors but we’re seeing many Sydney “refugees” – that is younger owner-occupiers - who are moving to these areas in search of houses they can afford. Because all three areas are within coo-ee of Sydney and they all have their own strong infrastructure and local economy they are highly desirable and will continue to rise.
It’s worth noting that Brisbane is also showing signs of upward movement in land values in the metro area. And not just Brisbane itself, but even further out there’s some very strong opportunities as we recently noted in the case of <a href="https://www.dpn.com.au/learn/market-updates/why-springfield-brisbane-is-a-hot-investment" target="_blank">Springfield</a>.
Overall forecast
So what does all this tell us? Sam Khalil’s outlook is positive, there are a myriad of opportunities in the market. Which, as we know, are really <a href="https://www.dpn.com.au/learn/how-to-guides/what-is-a-property-market" target="_blank">many different markets</a>.
The caveat being that one has to be more selective as market forces could change due to macro economic factors and policy changes by the regulators as well as the oversupply of apartments. This apartment oversupply poses the greatest risk for investors. It’s a cautionary reminder of not buying through emotion. Or buying the wrong product at the wrong time.
There are some excellent prospects for property investment in the right areas that may not fit investors’ usual comfort zones. 2017/2018 will definitely be about hunting in different fields, certainly not in the usual areas that investors have been doing.
So there won’t be any quick rewards from backing the same winners of the past five years. The investors that will do well in the next 12 months will be those who put in the solid research and are prepared to look in other areas off their normal radar. As always: if you put in the work, the research and don’t automatically follow the herd, you can reap great rewards.
In part two, Sam Khalil investigates and dissects recent market changes that <a href="/expert-insights/investing/sam-khalil-s-property-investment-outlook-part-two">property investors should be aware of</a>.  He covers lending policy, slowing development and challenges with land and apartment supply.
You can read the original article <a href="https://www.dpn.com.au/learn/market-updates/sam-khalil%E2%80%99s-property-investment-outlook-part-one-winter-2017" target="_blank">here</a>.
For more information from <a href="https://www.dpn.com.au/" target="_blank">DPN</a>.
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Sam Khalil’s property investment outlook - part one

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Potential buyers at Parq on Flinders, an apartment development in Wollongong, are being lured with just a 2 percent deposit.
An advertisement for Parq on Flinders, running as a campaign on Colliers International’s website, says more than 70 apartments have already sold and prices for the remaining apartments will be increased after July 1.
The $88 million complex will have 221 apartments and a number of commercial sites, according to the Illawarra Mercury.
The project is being developed by Malaysian consortium Gateway Wollongong.
The display suite is at 96 Smith Street.
A one-bedroom apartment is selling for $419,000, while the two bedroom is for $609,000 and the three bedrooms for $759,000.
While most banks require around 20 percent deposit upfront for owner-occupiers and higher for investors, the promotion for Parq, first announced in November 2016, asked for just a 10 percent deposit.
First home buyers could pay their deposit in instalments of 2 percent every six months, while other buyers needed to pay the balance 8 percent by July 2017, said the promotion.
For years, the development site at the intersection of Keira, Flinders and Campbell Streets remained mired in controversy.
It was once flagged for the corruption-laden "Quattro" development, which featured prominently in the city’s infamous sex for development scandal, according to the Illawarra Mercury.
In 2008, an inquiry found that developer Frank Vellar had engaged in corrupt conduct by engineering the approval of the Quattro development with his lover, Beth Morgan.
The council bought the site for $5.2 million in 2011, with plans to clean it up and use it as a temporary parking space.
It then called for expressions of interest from developers, and a year later the Gateway consortium, then working with developer Jan Lindrum, lodged a $135 million proposal named “Bass and Flinders Gateway”. 
But they failed to convince the Joint Regional Planning Panel the first time around and only got a recommendation from the Wollongong City Council after substantial modifications.
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