FEBRUARY 2026

Welcome to the latest edition of Spyre’s monthly wrap up, where we share our latest news, insights, construction updates and project releases.

MARKET INSIGHTS

South East Queensland’s luxury off-the-plan apartment market is entering 2026 with a more mature, supply-disciplined profile than in previous cycles. While population growth and interstate migration remain powerful tailwinds, the defining characteristic of the current market is the limited pipeline of genuinely premium product. Elevated construction costs over recent years have curtailed speculative development, resulting in fewer but higher-quality projects proceeding to market. For luxury buyers, this is translating into tighter competition for well-located riverfront, coastal and lifestyle-driven developments, particularly those aligned with the region’s long-term infrastructure investment and the approach of the 2032 Olympic Games. The focus has shifted from volume to calibre, supporting pricing resilience in the prestige segment.

In Brisbane and the broader South East corridor, demand within the luxury off-the-plan sector is increasingly led by local downsizers and equity-rich owner occupiers rather than investors. This cohort is prioritising scale, privacy and design integrity — favouring full-floor or half-floor residences, low-density boutique buildings, and developments offering wellness amenities, secure parking, and walkable village environments. Importantly, many of these buyers are not price-sensitive in the traditional sense; they are quality-sensitive. With limited new sites available in prime riverfront and blue-chip suburban precincts, developers who can deliver architectural distinction and long-term liveability are capturing strong early enquiry, often well ahead of completion.

In Bayside Melbourne, the luxury apartment market is being shaped by scarcity of development opportunity and strict planning controls, particularly in established suburbs such as Brighton, Sandringham and Hampton. Height restrictions and community resistance to overdevelopment have kept the future supply pipeline constrained, reinforcing the boutique nature of new offerings. At the same time, improving sentiment in Melbourne’s broader property market, stabilising construction costs and renewed confidence among high-net-worth local buyers are supporting a gradual return to off-the-plan commitments. Downsizers from large family homes remain the dominant buyer group, seeking premium coastal living without compromising on space, security or proximity to established amenities.

Across both regions, the luxury off-the-plan sector is characterised less by speculative momentum and more by strategic acquisition. Buyers are carefully selecting projects with strong developer credentials, proven delivery capability and enduring locations. With limited premium stock expected to complete over the next 24–36 months, and broader housing undersupply continuing to place pressure on established dwellings, well-positioned luxury apartment developments in South East Queensland and Bayside Melbourne are likely to remain tightly held. For discerning purchasers, early engagement in high-quality projects may prove critical in securing long-term lifestyle and capital growth advantages in these supply-constrained markets.

Spyre are pleased to have offerings available in each of these key markets. With 2026 set to see substantial growth across each sector, explore the Spyre Portfolio HERE.

UPCOMING PROJECTS

A carefully curated collection of beachfront residences coming soon to Dune St, Tugun.

Echo’s interior architecture embraces the nuances of beachfront living, where interior and exterior spaces exist in seamless dialogue, creating a comfortable year-round subtropical experience. Materials, textures and tones drawn from the façade continue inside, creating a natural continuity between the building, the landscape and life within.

VIP registrations will be contacted in the coming weeks to arrange their appointment prior to the public release of the project.

IN THE PRESS

APARTMENTS AND DEVELOPMENTS

Melbourne’s Bayside is about to get its first taste of Queensland’s finest. Brisbane-born  Spyre Group – a multi-award-winning developer known for creating some of Queensland’s most talked-about luxury residences – is putting the finishing touches on its Hampton Ltd project, marking its much-anticipated entry into Victoria’s premium market.

Situated on the leafy corner of Thomas Street and Deakin Street North in Bayside’s Hampton, Hampton Ltd is a limited collection of just 23 residences, including expansive apartments and three standout townhomes that blend coastal calm with considered design.

Spyre’s reputation precedes it. Back on Australia’s east coast, the developer has reshaped luxury living with projects that have become reference points for design and desirability.  Its Glasshouse development in Burleigh Heads has captured attention for breaking price records, with the Gold Coast penthouse recently sold for a staggering sum that set a Queensland off-the-plan record.

Elsewhere, Spyre’s Moray House in Brisbane’s New Farm and the striking Arc Residences on the Brisbane River have reinforced the group’s commitment to architectural excellence and thoughtful craftsmanship across diverse settings.

Bringing this track record to Melbourne’s Bayside isn’t just an expansion: it’s a statement that premium design and place-making expertise can thrive beyond borders.

Read the full article HERE.

CONSTRUCTION UPDATES

MORAY HOUSE

Construction at MORAY HOUSE is advancing across all levels. Level 1 internal carpentry is underway, including skirting, door hardware, and finishing works. Levels 2 and 3 have completed stone installation, with timber flooring and underlays now commenced, and sanitary fit-off beginning on Level 2. On Level 4, joinery and stone installation are complete, tiling is nearing completion, and sanitary fit-off has commenced. Level 5 joinery is close to completion, with stone installation, external balustrade works, and scaffold removal underway.

Level 6 internal works are progressing, scaffold removal is complete, landscaping continues, and final coats of external paint and render are being applied. At the Level 7 rooftop, framing is near completion, the rooftop pool is now structurally complete, plants have been installed, and scaffolding has been removed. Lift installation is ongoing with all lift doors in place and commissioning underway, while car lift installation also continues.

HAMPTON LTD

Kingspan insulation in the basement has now been completed, and rough-in works are officially finished throughout Building A. The forming of the roof terrace for Building C, including all reinforcements, has been completed, with the roof terrace and hob now poured and stripped. All ceiling battens and grids in Building A are complete in preparation for plaster, and the final curved windows have been successfully installed. In Building C, all internal wall partitions have been erected, Kingspan ceiling insulation on Level 2 is complete, and blockwork has commenced at the rear of the building.

The LGS frames for Building B have arrived on site, marking a significant milestone as we move toward closing out the structure of all three buildings. In the basement, the main electrical switchboards are now in place and ready for rough-in, while rough-in of mechanical, fire services, plumbing, and electrical has commenced on Levels 1 and 2 of Building C.

ARC RESIDENCES

Construction is progressing well across all levels at ARC. At Ground Level, feature podium structural steel is now 75% installed, lightweight framing is well underway, and the lobby glazing subframe has been installed. On Level 1, defect rectification and the builder’s clean are underway, with the pool currently being tiled. Level 2 has commenced defecting, while Level 3 fit-off is complete and carpet installation is beginning. Level 4 fit-off is now commencing. On Level 5, Corian has been installed, and Level 6 has begun tile laying to the general areas. Joinery installation has commenced on Level 7 and is progressing on Level 8. Level 9 is undergoing floor preparation, while Level 10 has sheeting and glazing complete, with carpentry fix-out underway. At the Private Roof Terrace, pool spraying has been completed.

WATTS & WRIGHT

Construction at Watts & Wright is progressing well, with the capping beam, piling and bracing works, and bulk excavation now complete. Drainage and hydraulic services under the slab have commenced, and the de-watering system is operating effectively on site. The first level of pre-cast elements is currently under manufacture. Off-site, lift shop dwgs and glazing shop dwgs are being finalised, while the remaining pre-cast components are progressively being shop drawn and manufactured.