Brisbane penthouse within the wellness-focused Luminare apartment and health complex has hit the market with a $20 million price guide, which, if achieved, would be the Queensland capital’s most expensive apartment ever sold.

Designed with a focus on health, beauty and wellness, the penthouse’s price-tag reflects consecutive years of strong growth in the Brisbane market, as well as the premium now placed on life-extending and enhancing features integrated into residential construction.

While Brisbane’s house-price record was recently raised to $25 million after the sale of a New Farm riverfront mansion, the apartment record stands at the $17.5 million paid by Rich Lister coal baron Matt Latimore for a New Farm penthouse purchased from fund manager Ben Cleary.

Another penthouse in Newstead’s Pier development was sold by owners, retired company director Howard Stack and his wife Hilary in late 2024. While early reports speculated the four-bedroom sky home on Newstead Terrace sold for near $20 million, last year’s settlement show the luxury apartment traded for $16 million.

Now, the four-bedroom Luminare penthouse overlooking Brisbane’s CBD is vying for the title of Brisbane’s most expensive apartment. The penthouse comes with an alfresco entertaining zone with quartz ‘summer kitchen’ and a hot and cold plunge pool.

There is a soundproof home office, travertine gas fireplace, and in lieu of a typical walk-in-robe, the master suite comes with a 45-square metre “dressing gallery”, a stone island dresser and a built-in Casoro safe.

Developed by Damien Cavallucci’s Cavcorp, the just-launched penthouse occupies half a floor of the Luminare building, which is built around TotalFusion, Australia’s largest premium health and wellness club.

Residents can partake in the facility’s array of cutting-edge wellness features including a hypoxic altitude chamber, inclined Kilter Board climbing wall, saunas, flotation tanks, a hyperbaric oxygen chamber and a salt cave for halotherapy.

The penthouse is listed with Cavale’s Ari Shahbazifar. Learn more here.

As the global wellness economy continues its rapid expansion — poised to reach well into the trillions — a new frontier has emerged at the intersection of real estate, longevity science and everyday living: wellness residences. According to the latest Future of Wellness report unveiled by the Global Wellness Summit, these new living environments are transforming how we think about homes, not just as spaces to occupy, but as active contributors to healthspan and quality of life.

From Passive Homes to Proactive Health Hubs

Traditional residential design has long prioritised features like location, aesthetics and comfort. Today, a deeper paradigm shift is underway — one that embeds wellness into the very foundation of where we live. Termed “longevity residences” in the 2026 wellness trends report, these communities and homes expand the role of real estate into preventive health, diagnostics, longevity-centric technology and daily wellness infrastructure.

Unlike conventional wellness real estate — which might include gyms, spas or green spaces — longevity residences go far beyond amenities. They integrate health­-supporting systems into the architecture, operations and lifestyle offerings of the community itself.

What Defines a Longevity Residence?

Longevity residences are characterised by:

• Architectural and environmental design aligned with circadian rhythms, immune health and stress reduction
• On-site access to advanced diagnostics, preventive medicine and biometric tracking tools
• AI-powered personalisation of health behaviours directly into daily living routines
• Seamless support for biohacking, longevity-centric care and medical-grade monitoring
• Programs and services that cultivate holistic long-term health — from sleep optimisation to metabolic health and cognitive vitality

Homes and communities are no longer passive backdrops — they are being designed as living wellness ecosystems that help residents manage, measure and optimise health long before clinical care is needed.

Why Now? The Drivers Behind Wellness Real Estate Growth

This shift isn’t happening in isolation. Several global forces are accelerating the trend:

• Ageing populations are increasingly prioritising quality of life and proactive health measures.
• Wellness technology and AI-enabled health systems are becoming more accessible and integrative.
• Wellness economics continues to grow, creating an appetite for residential solutions that deliver measurable health benefits.
• Investors and developers are recognising that health-forward design commands premium demand in an increasingly crowded real estate market.

In essence, longevity residences represent not just a new category of real estate, but a reimagined value proposition: properties that do more than shelter their occupants — they actively support longer, healthier and more vibrant lives.

The Home as the Ultimate Wellness Asset

As wellness continues to expand beyond spas, retreats and clinics into everyday life, the home is emerging as the most powerful and personal wellness tool of all. Longevity residences are redefining what it means to age well, situating wellness at the core of where we live, work and play.

In 2026 and beyond, the value of real estate will increasingly be measured not just in location, views or finishes — but in its ability to foster health, resilience and life-long wellbeing.

With tourism thriving, millionaire numbers climbing and the Olympics on the horizon, brands are turning their attention to the Queensland capital as major retail developments get underway.

When Vanessa Spencer was weighing up where to open her next boutique, online sales data pointed her in the direction of Brisbane. With existing stores in Melbourne and Sydney, she decided on the capital of Queensland as the Australian state was already the upmarket retailer’s third-largest customer base. “But it’s a little bit more than that,” says The New Trend co-founder and brand director.

“It’s also instinct. Brisbane just feels like such an up-and-coming city. There’s such a beautiful energy there right now. It’s about culture; it’s about inclusion; and there’s this sense of community which is unlike anything else,” Spencer adds.

More specifically, Spencer set her sights on James Street in the suburb of Fortitude Valley, where she opened the doors to the new branch of her multi-brand store in October. Situated across the snaking Brisbane River to the east of the Central Business District (CBD), this leafy pocket is a treasure trove of independent retail, Australian brands and hospitality offerings.

“It’s such a unique part of the Australian retail landscape,” says Spencer, whose boutique has historic links to a Canadian counterpart of the same name but is independently owned and operated in Australia, stocking brands like Bottega Veneta, Loewe, Christopher Esber and Alemais. “You can’t compare [the area] to anywhere else in the country.”

Over the past decade or so, most major luxury brands moved into the CBD, with many situated on the ground floor of the QueensPlaza centre on the Queen St Mall, a pedestrian thoroughfare. These include Chanel, Gucci, Dior, Saint Laurent and Fendi. Australian brands Rebecca Vallance, Zimmermann, Aje, Oroton and Camilla are among those upstairs in the same centre.

Elsewhere in the CBD, Louis Vuitton relocated to a new flagship in 2023 in the former National Australia Bank building, which abuts QueensPlaza. Nearby Edward St also has a luxury contingent with stores from Hermès, Cartier and Canali.

It’s not hard to see the appeal of Brisbane, affectionately called Brissie by locals and known as Meanjin in the language of the area’s Indigenous Yuggera and Turrbal people.

“It’s a subtropical gem that has always walked to the beat of its own drum,” says Heidi Middleton, the Brisbane-raised co-founder of Sass & Bide. “It has really come into its own in the last five to 10 years. I feel like it’s quite a humble city; it’s not showy or brash. It’s sort of just been chipping away, doing its thing, and has built itself gently and slowly over time to evolve into this great city.”

The city’s unassuming nature is also reflected in its residents. Take Margot McKinney, a fourth-generation jeweller who regularly travels to work with her international clientele and still finds herself having to explain that she isn’t based in Sydney or Melbourne. When people tell her they’ve never visited Brisbane, she says it’s easy to explain why they should. “It’s our secret city, [but] it’s the city you need to get to know because it’s where all the energy is moving to.”

Retail’s Next Expansion Phase

Brands looking to enter Brisbane or expand there are keeping a close eye on the other side of the Queen St Mall, where the Wintergarden Shopping Centre is situated.

Owned and operated by IFM Investors, this 13,000 sq m space is poised for redevelopment with an anticipated cost of around 1 billion Australian dollars ($670 million). It is expected to start late this year and open in time for the 2032 Brisbane Olympics, incorporating the Wintergarden, neighbouring 155 Queen St (the home of Zara’s three-storey flagship), the Regent Theatre and the InterContinental Brisbane (formerly Hilton Hotel).

“We have had a lot of interest from luxury and what we call ‘sub-luxury’ brands that we believe are using their online shopping data to track the cities their clients live and shop in, and we only see this interest increasing,” says Leah Mienert, IFM Investors Regional Asset Manager.

“Brisbane CBD currently offers luxury flagships and custom flagship stores and demand for larger footprints from new luxury brands is increasing. We’re accommodating these unique footprints in our development planning,” she adds.

Ilias Tsangaris, director of commercial property advisors InCommercial, believes the Olympics will accelerate rather than create interest in the Brisbane market. “More international brands will be showing interest earlier than expected because they’ll want to get in pretty quickly to secure their spots,” he says, adding that Albert and Adelaide Streets in the CBD are also improving.

The city’s deputy mayor Fiona Cunningham says Brisbane offers a “sweet spot” for retailers. “We have strong population growth, a thriving tourism market and a lifestyle-led culture which naturally encourages spending in fashion, dining and the experience economy.”

Beyond luxury, Queen St Mall is also home to local high-street brands including Cue and Country Road, which opened its new flagship in the heritage-listed Bank Building in August. These are priced above H&M, Uniqlo and Zara, three international mass- and fast-fashion brands that have firmly established themselves in Queensland after entering the Australian market in the early 2010s.

That said, H&M closed its Queen St Mall flagship in September after 10 years in the location, reportedly in line with around 200 global closures in 2025. The Swedish retailer remains in seven Queensland locations. In addition to Zara’s mall flagship, the Spanish retailer has one suburban and one Gold Coast location. Uniqlo has a total of six Queensland stores.

From Contemporary Giants to Niche Luxury

The lush green stretch of James St that attracted Spencer from The New Trend features an enviable mix of independent retailers. This includes standalone boutiques from the likes of Zimmermann, P.Johnson Men’s and Women’s tailors, Scanlan Theodore, Bassike and Brisbane designer Gail Sorronda. Also present is multi-brand retailer Camargue, which began introducing Brisbane to cutting-edge international labels in 1978, and today stocks Comme des Garcons, Dries van Noten and Jacquemus among others.

Another landmark on James St is the Calile Hotel, a meeting place for locals and a hub for travellers looking for a more unique, design-led experience than a CBD five-star. The New Trend is situated at the front of the hotel, which has proved a winning combination for the retailer, both for serving existing customers visiting from Sydney and Melbourne, as well as attracting a new customer base in Brisbane and from overseas.

Spencer says the mix of people visiting James St includes those living in the surrounding suburbs, as well as shoppers from areas surrounding Brisbane, including the Gold Coast, a beachfront city one hour’s drive south that includes Surfers Paradise. Noosa is two hours’ drive north in the Sunshine Coast and Byron Bay is less than two hours’ drive south, just over the border in New South Wales. “They make a day of it, they go for lunch, they really experience the area. It is a very special place.”

Middleton, who launched her current label ArtClub in 2019, recently returned to her hometown after spending more than 20 years in Sydney. Opening her first space for ArtClub on James St in a former Sass & Bide store was a full-circle moment. Her husband, Michael Malouf is part of the family behind the Calile hotel and one of the driving forces behind the development of the James St precinct over the past 20 years.

High-end homeware and design retailers also call the neighbourhood home alongside beauty pioneers Mecca and Aesop. “You have this beautiful edit of retail and some of the best restaurants are now at home in that precinct as well,” says Middleton.

A Centre of Economic Growth

Brisbane may not be a household name beyond Australasia, but in seven years’ time it will be. The 2032 Olympic and Paralympic Games will bring the city global attention, an influx of visitors, and media coverage from far and wide.

Cunningham says the event is “a once-in-a-generation opportunity for Brisbane”, adding that initial estimates show the Games could inject 8.1 billion Australian dollars ($5.5 billion) into the urban economy. But, she adds, “the real benefits would be the lasting infrastructure for our region. From upgraded entertainment venues to more interconnected transport options like the Brisbane Metro, the Games have already helped shape our legacy.”

“Amongst businesspeople, and people who understand exactly what having the Olympics does for a city, there is enormous excitement,” says McKinney. “It will change Brisbane forever and people who recognise that and get into business in Brisbane now will definitely reap the benefit.”

The city was already on an upward trajectory before it won the Olympic bid five years ago. Brisbane has long been Australia’s third-largest city by population, though reports suggest Perth may overtake this position by 2050. In 2024, Brisbane’s population was 2.78 million, roughly half of Sydney’s, but a significant increase from a few years earlier. Notably, Sydney recorded a net loss of migration within Australia, while Brisbane experienced the highest influx.

“The pandemic saw a shift from the larger cities to Brisbane and south-east Queensland,” said Mienert, citing people’s “realisation that you don’t have to be tied to a certain city.” The influx from other states “correlated with an increased demand in businesses who wanted to occupy [Brisbane’s] CBD retail spaces — including luxury brands.”

It’s not just the population that’s growing. The state’s economy is also steadily heading upwards, with GSP (gross state product) the second highest in the country, up 2.2 percent against a national average of 1.4 percent for the 2024-25 financial year.

Like the country’s largest state Western Australia, mining (including for coal, lead, zinc, bauxite and copper) is Queensland’s largest industry. Tourism is also booming. Queensland is the second-largest tourism market in Australia, thanks in no small part to natural attractions such as the Great Barrier Reef, the Daintree Rainforest and the Whitsunday Islands.

Brisbane’s gateway status brings other advantages, says local jeweller McKinney, who recently opened a boutique in Beverly Hills and is set to open on New York’s Madison Ave in the coming months. “Increasingly there are more international clients, people flying into Brisbane and using it as a stopping-off point before they go to the Barrier Reef.” Further attractions include the city’s arts scene, its physical beauty, waterfront developments, “amazing lifestyle and some of [Australia’s] finest dining.”

Wealthy locals also play a major role in keeping the local luxury market buoyant. Brisbane is currently ranked among the top 50 cities in the world for millionaire population, according to high-net-worth individual residency firm Henley and Partners, with numbers growing 22 percent between 2014 to 2024. By 2025, the city boasted 26,400 US-dollar millionaires, slightly less than Berlin but more than Tel Aviv.

How to Cater to Locals

The city’s sub-tropical climate has a distinct impact on the merchandise mix, with retailers suggesting that lighter fabrications and pared-back silhouettes are more popular in Brisbane than in Sydney or Melbourne.

But where hot weather can sometimes lead to an overly casual wardrobe, Middleton says that Brisbane demonstrates quite the opposite, describing locals as discerning shoppers. “I always felt growing up that people almost enjoyed dressing up a bit more [here] because we were considered a little bit the country cousin of the [other Australian] cities. So, there was a bit more effort.”

McKinney, whose extravagant jewellery designs sit at the heady end of the luxury market, concurs. “Brisbane is definitely a very mature market. [Customers are] very sophisticated and well-travelled.”

In terms of style preferences, prints and brighter colours are popular and worn year-round, says Bridget Veals, executive general manager of womenswear, footwear and accessories at David Jones. The nationwide department store has Queensland branches in Brisbane’s CBD, Indooroopilly, Carindale and Chermside suburbs as well as two locations on the Gold Coast and one on the Sunshine Coast.

“Resort brands, swim, all of that can keep going in Queensland all year round [whereas] the longevity of those brands on the floor can be really difficult [in some other places],” states Veals.

The region’s almost endless summer means that merchandise can be trialled in Brisbane before the rest of the country, Veals explains, noting that the quality of life and sense of community bring other advantages. “People love living in Queensland so much that you don’t have staff turnover at the same rate,” she quips.

With its winning combination of economic growth, an attractive lifestyle offer and new developments being put in place ahead of the Olympics, the city is preparing to usher in a new era for locals and visitors alike. Global retailers, take note.

Brisbane’s apartment market is entering 2026 with strong underlying momentum, underpinned by sustained demand, limited new supply and a structural shift in buyer behaviour that shows little sign of reversing.

Latest data from the PropTrack Home Price Index confirms Brisbane units were one of the strongest-performing segments nationally over the past year, with apartment values rising 18.3 per cent, adding around $125,500 to the median price. More importantly, market analysts say the conditions driving this growth are set to persist well into 2026.

Apartments Emerge as the Engine of Growth

While Brisbane’s broader housing market has performed strongly, apartments have increasingly become the city’s growth driver. Affordability constraints, demographic change and lifestyle preferences are pushing buyers toward well-located units as a primary choice rather than a fallback.

As Brisbane’s median dwelling value moves further beyond the $1 million mark, apartments are now the most realistic entry point for a growing cohort of buyers — including downsizers, interstate migrants, professionals and long-term renters transitioning into ownership.

This demand is colliding with a severely constrained supply pipeline.

Supply Shortages Set to Intensify

New apartment construction across Brisbane remains well below historical averages, impacted by high construction costs, financing challenges and delayed project commencements. As a result, the number of new units expected to be delivered in 2026 and beyond is unlikely to meet population-driven demand.

Economists note that this imbalance is creating a durable floor under apartment prices.

REA Group senior economist Anne Flaherty said that while interest rates remain a variable, structural factors are expected to outweigh short-term monetary headwinds.

“Home prices are predicted to move to new highs in 2026,” she said, pointing to constrained housing supply and ongoing demand as key drivers, even if borrowing conditions tighten.

Momentum Persists Despite Rate Uncertainty

Although interest rate cuts supported price growth through 2025, Brisbane’s apartment market has continued to show resilience even as the outlook for rates becomes less certain. Monthly figures show Brisbane unit values rising into December, while Sydney and Melbourne recorded declines.

This divergence suggests Brisbane’s growth cycle is being driven less by credit conditions and more by fundamentals — population growth, housing undersupply and relative value.

Government incentives such as the five per cent deposit scheme are also expected to disproportionately benefit the apartment sector, where price points remain more accessible to first-home buyers.

The Gap Between Houses and Units Continues to Close

Another trend supporting momentum into 2026 is the narrowing price gap between houses and apartments. Long viewed as a secondary asset class, apartments are increasingly being valued on lifestyle, amenity and location rather than land size alone.

In Brisbane, this convergence reflects a market recalibration rather than a temporary surge — aligning the city more closely with global urban centres where high-quality apartments command long-term price resilience.

Outlook: A Market Still Moving Forward

With population growth remaining strong, new supply constrained and buyer preferences continuing to evolve, Brisbane’s apartment market appears positioned for continued growth into 2026.

For owners, this momentum reinforces the value of holding quality, well-located apartments. For buyers, it highlights a narrowing window of opportunity as competition intensifies and supply remains limited.

Brisbane’s apartment market is no longer catching up — it is setting the pace.

Brisbane’s apartment market is entering a new phase — one defined not just by rising prices, but by a deepening imbalance between demand and supply. As inner-city living cements itself as the lifestyle of choice for young professionals, downsizers and investors alike, the availability of quality apartments is shrinking to record lows.

In a city once dominated by detached housing, the tilt toward vertical living has been unmistakable. The latest figures show that unit listings in Brisbane are now around 45 per cent below the five-year average, underscoring just how limited choice has become for buyers. At the same time, rental vacancy rates are hovering near 0.8 per cent, with many inner suburbs – from Newstead and Teneriffe to West End – dipping closer to 0.5 per cent. These are crisis-level numbers in a market still absorbing record migration inflows.

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Lifestyle at the Core of the Shift

This surge in demand is as much cultural as it is economic. The new wave of apartment buyers isn’t just chasing affordability; they’re chasing experience.

Neighbourhoods such as Newstead, Fortitude Valley, and West End have evolved into complete lifestyle precincts, where residents can work, train, dine, and socialise within a few blocks. The proximity to the river, Brisbane’s expanding green corridors, and the emergence of luxury mixed-use projects have redefined what apartment living can offer.

“Buyers are no longer treating apartments as a stepping stone to a house — they’re viewing them as long-term homes,” said Cavalé Sales Director, Ari Shahabazifar. “People want convenience, community, and amenity. They want to walk downstairs for coffee or dinner, not drive 20 minutes across town.”

That sentiment is reflected in who’s buying. Downsizers are swapping suburban backyards for lock-and-leave living, while professionals are trading commuting time for lifestyle time. The result is a powerful demographic shift — one that Brisbane City Council has noted is leaving the city structurally short on one- and two-bedroom dwellings.

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Supply Playing Catch-Up

Despite the appetite, the pipeline of new apartments remains thin. Research from CBRE suggests Brisbane will deliver just 4,600 new apartments per year between 2025 and 2030, even as population growth drives housing demand for closer to 16,000 dwellings annually. The imbalance is pushing both sale prices and rents higher, with limited relief in sight.

Developers are facing mounting challenges — from elevated construction costs to labour shortages and prolonged approval timelines — all of which are constraining new supply. For buyers, this means established apartments in premium precincts are becoming increasingly valuable, both as homes and investments.

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A Market Redefined by Scarcity

Unlike the speculative booms of the past, Brisbane’s current apartment surge is underpinned by structural factors: population inflows, changing household composition, and the enduring appeal of well-connected inner suburbs.

REA Group senior economist Eleanor Creagh notes that while affordability pressures have capped some of the exuberance in house prices, “the apartment sector continues to see solid growth due to the chronic undersupply of quality stock and rising rental yields.”

That scarcity has turned the market on its head. In precincts such as Newstead, South Brisbane and Fortitude Valley, competition for listings remains fierce, with many properties selling off-market or within days of launch. For investors, rental returns have become some of the strongest in the country, while for owner-occupiers, the appeal lies in lifestyle permanence — proximity, culture, and community.

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Looking Ahead

With migration expected to remain strong and no meaningful increase in supply on the horizon, Brisbane’s apartment market appears poised for further tightening through 2026. As more residents seek to live closer to the city’s dining, wellness and waterfront precincts, the fundamentals favour continued growth — not through speculative exuberance, but through the enduring demand for well-designed, well-located homes.

In short, Brisbane’s apartment market is evolving from a value play to a lifestyle benchmark. And in a city where demand keeps outstripping supply, that evolution is likely to define the next chapter of urban living.

The future of fitness has arrived in Brisbane. Introducing the Technogym Checkup — a first-of-its-kind innovation in personalised health and performance, now available exclusively at Long Island Brisbane, home to Australia’s first Technogym Flagship Showroom.

Developed by global wellness pioneers Technogym, the Checkup combines science, technology, and design to create a deeper understanding of how your body performs — and how to train smarter.

What Is the Technogym Checkup?

The Technogym Checkup is a quick, in-person assessment that analyses key health and performance markers, including:

• Body composition
• Cardiovascular fitness
• Strength and mobility
• Metabolic health

In just minutes, you’ll receive your personalised Wellness Age — a science-backed reflection of how your body is functioning compared to your actual age.

Your results then sync directly to the Technogym App, where an AI-powered training platform builds a fully tailored program based on your data. From there, you can track progress, refine goals, and access guided workouts across Technogym’s global ecosystem — whether at home, at your gym, or on the go.

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How It Works

1. Download the Technogym App
Scan the QR code in-store or online to download the app.

2. Create Your Profile
Set up your account to ensure your results are automatically saved and accessible.

3. Book Your Checkup
Open the app, select TG Brisbane from the menu, and tap Wellness Assessment to book your appointment.

4. Visit the Technogym Showroom
Head to the Technogym Flagship Showroom, located at 20A Festival Place, Newstead, where a Technogym consultant will guide you through your personalised assessment.

5. Continue the Journey
After your appointment, your results remain in the Technogym App — ready to guide your ongoing wellness journey. From here, you can:

• Track your progress across all Technogym-connected equipment.
• Access precision programs created by the Technogym AI Coach.
• Book follow-up assessments to measure improvement over time.

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Where Science Meets Lifestyle

The Technogym Checkup isn’t just another fitness test — it’s a holistic approach to wellness that empowers you to understand your body, train intelligently, and live better.

Now open to the public, Technogym Checkup appointments are available at Long Island Brisbane — the new heart of wellness innovation in Queensland.

Brisbane has a new home of luxury furniture—MCM House has opened a flagship Brisbane showroom on Wickham Street that’s straight out of your Pinterest board dreams.

Proving a laidback lifestyle doesn’t mean skimping on taste, the Sydney-born brand has nailed the art of making interiors feel equal parts curated and lived-in. From oversized linen sofas and timber textures to contemporary staples and their new outdoor collection, Dell’Oro, it’s furniture designed for every day with a healthy dose of understated elegance.  

The new showroom is a standout on the iconic corner, boasting multiple levels and a bold exterior. Inside, relaxed coastal vibes meet modern urban chic across pieces that are timeless, tactile and a little bit undone in the best way possible. It’s a true MCM House sanctuary, where each piece is placed to showcase a life well lived—not just a product.

From their first Paddington showroom to seven new spaces in the last three years, the people have spoken and MCM House is rapidly becoming the centre of Australian homes. Your dream space is waiting; check out the full range here. Or, you can find the new showroom in the old Godfreys space here.

From rooftop-picked greens to chef-driven classics, Newstead’s newest lunch ritual is here just in time for spring.

Long lunches and Newstead are a natural pairing, and Evra is setting the scene with the launch of its brand-new lunch menu. Just in time for spring, the offering brings together executive chef Kelvin Andrews’ seasonal philosophy, a rooftop farm that supplies greens and herbs daily, and trusted producers from across the country.

On the menu you’ll find dishes that balance elegance with ease — think smoked salmon crumpet with dill and crème fraîche on a buckwheat base, vitello tonnato with thinly sliced veal and house-made tuna sauce, and the always-classic steak frites with peppercorn sauce. Seafood lovers can dive into spanner crab pasta with XO butter, or the delicate Abrolhos Island scallop Rockefeller, while those after something heartier might be tempted by roasted lamb cutlets with red pepper caponata.

It’s a menu designed for long afternoons that stretch into early evenings, made to share or savour solo, always with a glass of wine in hand. Lunch is served Thursday through Sunday from 12noon — the perfect excuse to gather your people, settle in, and enjoy Newstead’s newest midday ritual.

Book your table here.

Across Australia’s premium suburbs, a sophisticated demographic shift is reshaping the luxury property landscape. Empty-nesters with substantial equity built over decades are increasingly looking to transition from large family homes to thoughtfully designed apartments—and developers are taking notice.

This “rightsizing” movement represents one of the most compelling trends in today’s property market, driven by affluent buyers who refuse to compromise on quality while seeking more manageable, functional living spaces.

“There’s a growing recognition that this market demands a very specific type of high-quality product,” explains Richard Temlett, national executive director of research at property advisors Charter Keck Cramer, who has been analyzing this emerging segment. “We’re seeing a fundamental shift in what luxury apartment living means.”

The numbers reflect this evolution. In Sydney’s most coveted locations, premium apartments with harbour and bridge views are achieving up to $100,000 per square metre, while Brisbane’s river and CBD-facing properties command around $50,000 per square metre. These price points signal a market that values quality, location, and design sophistication above all else.

What’s particularly interesting is how these buyers approach space differently than traditional apartment purchasers. Rather than simply wanting smaller homes, they’re seeking more intelligent design—spaces that work harder and live better.

“Empty-nesters don’t necessarily want smaller floorplates,” Temlett observes. “They want liveable, more functional, well-designed space.” This translates to two, three, or four-bedroom configurations with flexible secondary living areas, quality entertainment spaces, and the kind of views and outlooks that enhance daily life.

This demographic brings unique characteristics to the market. Largely unaffected by interest rate fluctuations, these cash buyers represent a stable, premium segment with exacting standards. They’ve built substantial wealth over time and are willing to invest significantly in properties that deliver on both lifestyle and long-term value.

Their expectations extend beyond square meterage to encompass superior fixtures, fittings, and finishes. They gravitate toward developers with proven track records and established reputations, viewing their apartment purchase as both a lifestyle choice and a reflection of personal taste.

Projects like Luminare Newstead and it’s House-Sized Sub-Penthouse which is currently for sale, exemplify this evolution, offering four bedrooms, uninterrupted river views, and wellness-focused rooftop amenities. Currently accepting best offers through September 22nd, the development by Cavcorp demonstrates how builders are adapting to meet this discerning market.

“Buyers in the top end of the market have an astute appreciation for the rarity of locations like Newstead, which has continued to drive demand for product in this area that meets their needs,” notes sales agent Ari Shahbazifar.

The recent launch of a $5 million penthouse in the award-winning LeBain building further illustrates this trend. The four-bedroom, three-car space penthouse features river and city views, plus a rooftop equipped with sauna, magnesium spas, and Technogym fitness center—amenities that speak to a more holistic approach to luxury living.

While building costs have increased substantially—rising 30 to 50 percent since the pandemic—this segment has proven resilient. The intersection of supply constraints and strong demand has created opportunities for developments that truly understand what these buyers value.

“They’re a very discerning market with an increasing awareness of the importance of design quality,” Shahbazifar explains. “There’s more pressure on what’s available, which means developers who get it right are seeing strong response.”

This rightsizing trend represents more than a temporary market shift—it signals a fundamental evolution in how affluent Australians approach their living arrangements. The focus has moved beyond simply accumulating space to curating experiences and prioritizing lifestyle enhancement.

For developers, this presents both opportunity and challenge. The market exists, the buyers are qualified, and the appetite for quality product is strong. Success lies in understanding that these purchasers aren’t just downsizing—they’re upgrading to a more intentional way of living.

As this segment continues to mature, expect to see more developments designed specifically around the needs of sophisticated empty-nesters who refuse to compromise on quality while embracing a more streamlined lifestyle. The luxury apartment market is evolving, and the rightsizers are leading the way.

For the next three weeks, Brisbane’s riverbanks will be transformed into a vivid playground of colour and form as internationally acclaimed design duo Craig & Karl debut their large-scale installation Walk this Way across three of the city’s landmark bridges.

Stretching across the Neville Bonner Bridge, Goodwill Bridge, and the brand-new Kangaroo Point Green Bridge, the project sees giant inflatable arches and bold graphics animate the everyday, inviting passers-by to walk through, linger, and see the city in a new light. The installation is part of this year’s Brisbane Festival, which runs until September 27.

A Homecoming of Sorts

For Craig Redman and Karl Maier, who grew up in New South Wales and the Gold Coast and first met as students at Griffith University in Brisbane, the project is as much a return as it is a debut. “We developed our design sensibilities in Brisbane,” says Redman. “That bright Australian light, the super high contrast—it’s always been in our work.”

Their collaboration, now nearly three decades strong, has taken them to New York and London, with commissions for global heavyweights like LVMH, Apple, Nike and Google. Their signature: bold, witty, and unabashedly colourful interventions that reimagine public spaces from Seoul to London.

Double Vision

Coinciding with Griffith University’s 50th anniversary, the duo is also presenting Double Vision, an exhibition at the Griffith University Art Museum that traces their creative journey. While not a retrospective, the show reflects on their early experiments while showcasing new work that leans toward immersive installations. “It’s a nod and a thanks to each other,” says Redman of their long-standing partnership.

Reviving Expo 88 Energy

For Walk this Way, childhood memories of World Expo 88 were a guiding influence. “It felt like you were experiencing the whole world in one place,” recalls Maier. That same spirit of wonder runs through their Festival projects—transforming familiar structures into moments of joy and optimism.

As Redman puts it: “Good public art tells the story of a place. It integrates into the city and shifts your mood, even if only for a moment.”

A Festival at Full Stretch

This year’s Brisbane Festival is the most ambitious yet, spanning 23 days, featuring over 2,200 artists, 23 productions, and more than 1,000 performances—nearly half free to the public. Against this backdrop, Craig & Karl’s kaleidoscopic bridges promise to be among the Festival’s most memorable sights: playful, bold, and distinctly Brisbane.

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Brisbane has cemented its position as one of Australia’s fastest-growing cities, with the release of the 2025 State of the City Report revealing the local economy has surged past the $200 billion milestone for the first time.

According to the report, Brisbane’s economy reached $201 billion in 2024, marking a 16% increase since 2020 and adding $28 billion of new economic activity in just four years.

A Job Market on the Rise

The city’s workforce is also expanding rapidly. Since 2020, Brisbane has created 274,000 new jobs — a 22% increase— with growth strongest in the health, construction, logistics, and tourism sectors.

This surge in employment reflects Brisbane’s evolving position as not only a hub for innovation and trade, but also a lifestyle destination that continues to attract both talent and investment.

Health Industry Leads the Charge

Among the city’s economic drivers, **healthcare has emerged as a powerhouse**. In 2024 alone, the sector contributed **\$22 billion** to the economy, having doubled in size since 2010. Growing at around **6% annually**, it remains the fastest-growing health industry in the nation.

Exports are playing a major role in this expansion, with **medical and pharmaceutical exports up 114% since 2013** — three times the national average.

The Experience Economy

Tourism, culture, and hospitality are also proving to be key growth engines. Brisbane’s so-called “experience economy” reached new heights in 2024, with visitor spending hitting $13.7 billion, the highest on record.

Hospitality in particular is thriving, expanding by 30% since 2020 — the fastest growth of any Australian capital city. With Brisbane’s reputation on the rise internationally, the city is well-positioned to capitalise on this momentum in the lead-up to the 2032 Olympic and Paralympic Games.

Investment Pipeline Fuelling Growth

Fueling this transformation is an extraordinary **infrastructure pipeline exceeding $100 billion. More than $11 billion is earmarked for the experience economy, with projects including new entertainment venues, sporting facilities, and the Mt Coot-tha Masterplan.

This wave of investment is reshaping the city’s landscape, ensuring Brisbane can meet the demands of a rapidly growing population while maintaining its liveability and global competitiveness.

Looking Ahead

Forecasts from Deloitte Access Economics paint a confident picture of Brisbane’s future, with significant growth projected across key industries over the next decade:

Property and construction: +41%

Advanced manufacturing: +29%

Transport and logistics: +43%

Knowledge economy: +50%

By 2041, Brisbane’s economy is expected to reach $275 billion, a 68% increase from today, underpinned by the fastest-growing working-age population in the country.

A City on the World Stage

Brisbane’s growth story is also gaining international recognition. The city recently debuted at 37th on Time Out’s “World’s Best Cities” list for 2025**, praised for its balance of green space, culture, and lifestyle.

With its economy booming, global visibility rising, and investment pipeline accelerating, Brisbane is firmly establishing itself as a city of opportunity — one that is not only thriving today but strategically positioning for long-term success.

Brisbane’s inner-city apartment market is entering a defining decade. With the countdown to the 2032 Olympic Games already reshaping the city, Newstead has emerged as one of the most tightly held and desirable precincts in the country.

Investor Confidence Surging

Since Brisbane was named Olympic host in 2021, investor interest has accelerated. Queensland has recorded a 47% uplift in property investment transactions, with demand pouring in from Sydney, Melbourne, and beyond. For many, inner-city suburbs like Newstead are the prize — combining strong rental returns with the capital growth potential of a market undergoing transformation.

A Suburb Where Demand Outpaces Supply

The fundamentals are striking. Urbis projects Newstead’s population will climb by more than 13,500 new residents between 2021 and 2046, requiring around 310 new dwellings a year just to keep pace. In reality, the past five years have seen only 187 dwellings delivered annually, well below demand. The imbalance is already driving price escalation, and with stock levels at historic lows, competition for quality apartments is fierce.

Escalating Prices and Premium Product

Apartment prices across Inner Brisbane have surged, with weighted averages rising from $591,000 in 2015 to more than $2 million in 2025. In Newstead, the escalation is sharper. Weighted average values for three-bedroom apartments now exceed $7.9 million, with penthouses recording price growth close to 300% over five years. Buyers are paying a premium for space, views, and design quality, and the data shows a widening gap between new product and the broader market.

Rental Market at Breaking Point

For renters, the story is just as dramatic. Vacancy in Newstead sits at 0.9% — among the lowest in the country— and rents are climbing rapidly.

• One-bedroom apartments now command about $840 per week, up 10% over the past year.
• Two-bedroom apartments are averaging $1,100 per week, up 7%.
• Three-bedroom apartments are achieving $1,400 per week, with rents surging 21% year-on-year.

With only 13% of new stock since 2023 comprising three or more bedrooms, larger apartments are particularly scarce — and commanding a premium.

The Olympic Catalyst

The pipeline of infrastructure is only adding fuel. The 63,000-seat Victoria Park Olympic Stadium, alongside city-shaping projects such as Cross River Rail and Waterfront Brisbane, will redefine connectivity and amenity across the inner city. History provides a clear precedent: in the seven years leading up to the Sydney 2000 Olympics, unit prices grew by 8% annually, with growth momentum continuing well after the Games.

Outlook: A Market Set to Run

Strong population growth, low unemployment at 3.8%, and more than $10 billion in infrastructure investment are reinforcing Brisbane’s fundamentals. For Newstead, the convergence of undersupply, rising rents, and Olympic-driven confidence paints a compelling outlook: apartment values and rents are set to rise sharply through to 2032 and beyond.