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EXPERT OBSERVER
The latest report by the Centre for International Economics demonstrates that Sydney has the worst planning system in Australia with 50 percent of the cost of a new house going to taxes and red tape.
The report was commissioned by the Housing Industry Association to compare housing costs in capital cities and Sydney has the largest extra cost of all Australian cities.
The report demonstrated that tax and red tape was 50 percent of the average new dwelling in Sydney compared to 37 percent in Melbourne, 33 percent in Perth, 32 percent in Brisbane and 29 percent in Adelaide. The total extra cost for Sydney was $840,874 compared to an extra cost in Adelaide of $436,165.
The report found that a large number of reports are now required for the planning application for a new home with reports required for soil tests, native vegetation protection, contamination, heritage assessment and traffic management. An earlier research project by the Urban Taskforce found that some Sydney councils require up to 27 reports for a development application for a simple house.
We also found that there were 81 separate reports required for residential DA's across all of the Sydney councils. Clearly some of these reports are necessary to assess a development application but the number of expensive specialist reports has grown dramatically, adding even more to the cost of building homes.'
The Urban Taskforce is most concerned that more taxes and levies are coming in New South Wales due to the removal of the cap on local infrastructure levies from July 1, 2020. The cap had been $30,000 for greenfield homes and $20,000 for infil homes but these caps are being incrementally increased until no cap applies from next year.
We believe some councils will add $100,000 for a greenfield home which will simply be passed on to home purchasers which is $70,000 more than the previous cap. Sydney will then have a tax and red tape cost of closer to 60 percent of the cost of a new home.
While the Centre for International Economics report focussed on house and land packages a similar disproportionate extra cost is added to apartments. Apartments in many cases must also contribute costs to council affordable housing schemes and in Parramatta contribute $20,000 to the light rail project.
While we do not in any way condone poor construction standards it is likely that the excessive planning delays for most projects combined with the massive extra costs from levies and red tape are putting pressure back on the cost of building and this needs to be considered by the NSW Building Commissioner.
The Urban Taskforce is very concerned at the downturn in housing approvals in Sydney and the evidence of such excessive extra costs for each home is making the situation worse.
The NSW Government must urgently review the excessive costs and excessive red tape to bring Sydney more on a par with other Australian cities. The federal Minister for Housing, Michael Sukkar, was reported as saying the states, particularly New South Wales, must reform their planning systems and the Urban Taskforce agrees with his assessment of the fundamental problem with housing supply in New South Wales and particularly in Sydney.
Leadership is required from the NSW Minister for Planning, Rob Stokes, and his Department of Planning, Industry and Environment to get a better and faster planning system that delivers more affordable housing.
CHRIS JOHNSON is the Urban Taskforce CEO 
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Half the cost of a new Sydney home is taxes, levies and red tape: Chris Johnson

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EXPERT OBSERVATION
The ABS data for June 2019 shows a continuing drop in housing approval numbers across New South Wales.
Apartment approvals in the year to June 2019 were 2,435 compared to a year ago when they were 3,082 in June 2018. This represents a drop of 21 percent. The high point two years ago in June 2017 had apartment approvals at 3,604 over the year. Clearly the apartment approvals are slowing down in response to a more difficult market with tighter credit restrictions.
The ABS data indicates that house approvals, trend, in NSW are falling at a similar rate to apartments. The June 2019 figures have 4,393 house approvals year to date compared to 5,589 only a year ago in June 2018. This represents a drop of 22 percent over the year.
Overall dwelling approvals in New South Wales, trend, dropped by 21.4 percent over the last year. Our worry is that there does not appear to be any signals that the falling approvals will stop in the near future.
The Urban Taskforce is concerned that the significant fall in dwelling approvals in NSW will go down further without some strong signals from the NSW Government that housing growth is needed.
The recent decision by the Independent Planning Commission to reject Lane Cove Council’s proposal for urban infill development next to St Leonards Station by preferring to retain the existing character of detached houses has sent a negative message to the development industry.
It is important that the government send out signals that they support housing growth in urban areas so that housing supply and the jobs that comes with this continues.
Our concern is that the supply chain is slowing down too quickly and the result of this will be a low housing construction period in the years ahead.
The NSW Government must take action now to reverse the declining approvals or they will be facing low housing production, a loss of jobs and escalating house prices in the months before the next state election.
CHRIS JOHNSON is the Urban Taskforce CEO
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New South Wales housing approvals falling: Chris Johnson

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EXPERT OBSERVER
The July 2019 State of the States report on economic performance by CommSec has New South Wales slipping to second spot after Victoria.
New South Wales has led the economic performance of Australia’s states as measured byCommSec for some time but has now slipped to second spot.
While NSW measures well on dwelling commencements at 14.9 percent against a decade average a detailed look at the figures indicates that Victoria is doing better on this measure.
In the July quarter Victoria commenced 15,899 dwelling commencements while NSW, which is 20 percent bigger, only produced 14,735 commencements. 
On top of this, dwelling approvals in NSW and particularly in Sydney have been falling fast. Year to date dwelling approvals for Greater Sydney in May 2018 were 53,665 but this has fallen to 41,365 by May 2019. 
This 22 percent drop in one year seems to be continuing due to slowing industry confidence, lending restrictions by banks and a slow planning system in Sydney. 
We are also concerned that the NSW Government will lift the cap on local infrastructure levies from July 1, 2020 and that this could add up to $70,000 extra to the cost of housing.
The Urban Taskforce believes the current slide in economic performance in New South Wales, asshown in the July CommSec data, may continue with big drops occurring in housing approvals in the state, and particularly in Greater Sydney. 
CommSec measures dwelling commencements that come from approvals in the past and the slowing housing approvals will inevitably flow intoreduced dwelling commencements in the months ahead.
The Urban Taskforce also believes that recent planning decisions by the state government to not approve the Ritz Carlton Hotel in Pyrmont or the St Leonards South medium density housing proposed by Lane Cove Council, are sending signals to the development industry that maintaining the existing character of neighbourhoods is more important that supporting new development.
CHRIS JOHNSON is the Urban Taskforce CEO
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CommSec data shows NSW sliding on economic performance:  Chris Johnson

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EXPERT OBSERVATION
In a classic catch 22 example of a planning system of contradictions, the Independent Planning Commission has preferred to respect local character over a council’s proposal for development around a railway station.
Lane Cove Council has been proposing for some years that new housing development belocated at St Leonards South, near St Leonards station, in what would seem to be a good example of Transit Oriented Development.
Generally the state government has supported proposals by local councils but in this instance the government’s Independent Planning Commission has dismissed the council’s proposal on the basis that the planning proposal did not respect the existing local character of the area.
The Urban Taskforce is concerned that a NSW Government planning document issued in February 2019 titled ‘Local Character and Place Guideline’ seems to promote a preferredsuburban character with no buildings over 3 storeys high in the publication. 
We believe the government is sending signals to the community that a suburban character is better that an urban character, with taller apartment buildings. 
It would appear that the local community in StLeonards South have been encouraged by the government’s promotion of local character as being suburban, to argue against change even when their own council has proposed the new apartment precinct.
It seems that the Department of Planning, Industry and Environment will have the final say onthe St Leonards South precinct plan, but our concern is that their own documents promote the importance of local character over Transit Oriented Development around railway stations.
The Urban Taskforce supports Lane Cove Council’s sensible proposal to accommodate housinggrowth in a precinct adjacent to St Leonards Station and close to the proposed Crows Nest metro station. 
We are very concerned at a growing approach from planners in some councils and within the government to be promoting the respect of local character rather than providing a leadership role in where new more urban precincts should occur around railway stations.
Chris Johnson is the Chief Executive Officer of Urban Taskforce
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Respecting local character rules stopping new development around railway stations: Chris Johnson

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EXPERT OBSERVER
The three cities of Sydney, the Harbour City, the River City and the Parkland City will need a vision to have robust growth over the next 20 to 30 years.
With concerns being expressed across Sydney’s suburbs, that medium density could destroy the character of the detached house suburbs, it would seem that major development should occur inSydney’s three cities.
The Urban Taskforce has developed 20 to 30 year visions for the three cities of the Harbour City, the River City and the Parkland City at the Aerotropolis, to give a futuristic feel for how Sydney’s centres could look from 2040 onwards.
We were asked to produce these visions by the Sunday Telegraph and the Daily Telegraph so that their readers could get a glimpse of the future form of the three cities. 
To develop the visions, the Urban Taskforce has worked with Sydney 3D modelling firm Arterra Interactive, Sydney architects LAVA who provided futuristic building forms, and architects Bates Smart who provided a base form for growth aroundCircular Quay.
The Urban Taskforce supports the Greater Sydney Commission’s approach to the three cities, but we are concerned that there seems to be a very suburban approach to Sydney’s character that is beingpromoted particularly in relation to local character. 
The best way to preserve local character is to ensure that most new development occurs in more urban locations in city centres and around railway stations.
 Soour visions for Sydney’s three cities are deliberately robust with significant height and the incorporation of greenery within the urban cores.
It is good to see that the Lord Mayor of Parramatta, Andrew Wilson, is a supporter of a robust city for Parramatta, with building forms that are not just boxes. And that Sam Sangster, the CEO of the Aerotropolis Authority supports the futuristic vision for the Aerotropolis while expressing some concerns about the heights illustrated.
For the Harbour City, Sydney Lord Mayor, Clover Moore, supports more height but is concernedthat her plans are being held up by the state government.
An essential part of the Urban Taskforce vision for the three cities is that they are connected by fast rail and that they work as a connected economic system. 
Cities around the world are now becoming polycentric networks of economic power, where urban centres with quality jobs, retail and urban livingbecome cosmopolitan hubs for local communities.
Here are futuristic and current views of the three major cities for Sydney.
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CHRIS JOHNSON is the Urban Taskforce CEO
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Sydney's three city policy needs a vision for robust growth: Chris Johnson

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EXPERT OBSERVER
The Greater Sydney Commission’s new measurements across Greater Sydney demonstrate how the swing to public transport works best with more apartments.
The impressive document released today by the Greater Sydney Commission on measuring progress in Sydney’s growth demonstrates the important link between apartment numbers and public transport usage.” says Urban Taskforce CEO Chris Johnson. 
The GSC report indicates that the Eastern City has 49 percent apartments and that 50 percent of travel to work in the Eastern City is by public transport. With half the population living in urban density it is clear that a similar percentage use public transport. The South District has 19 percent apartments and has about 10 percent of travel to work by public transport.
As Sydney grows the roll out of metro rail systems are likely to see taller apartment buildings clustered around the stations. The Greater Sydney Commission has an important role to ensure that appropriate levels of density occur around public transport initiatives.
The GSC document ‘The Pulse of Greater Sydney’ contains many important measures that willinfluence the growth of Greater Sydney. These include tree canopy cover, where the Northern District is stated to have 40 percent tree canopy cover but a close look at the map indicates that most of this is due to the large areas of National Parks that extend up to the Hawkesbury
River. Eastern Sydney by comparison has only 15 percent tree canopy coverage, as it does not include any National Parks. It would seem that National Parks on the edge of built up areasshould not be included in tree canopy measures.
The Pulse of Sydney is a good initiative by the Greater Sydney Commission, but it is important that targets be developed to ensure that Sydney grows in a sustainable and affordable way, and that people can live in the types of residential accommodation that suits them, in locations that they desire.
CHRIS JOHNSON is the Urban Taskforce CEO
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Greater Sydney demonstrates that public transport needs urban density: Chris Johnson

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EXPERT OBSERVATION 
The NSW Government has extended the implementation date of two important planning policies by four months, as a sign that planning is slowing in NSW.
The Low Rise Medium Density Housing Code was due to begin on July 1 2019 across all councils after being delayed for a year. But last Friday the planning regulations were changed to give 46 councils another four months to implement the code in their planning documents.
Sydney council Lane Cove has implemented the code from July 1 but they changed their Local Environmental Plan to prohibit multi dwelling housing in R2 Low Density Residential zones which dramatically reduces the availability of land where the code could apply.
It is likely that the 46 councils given another four months to implement the code will also restrict areas it can be applied.
The Urban Taskforce believes the ‘Missing Middle’ code has generated a perception across Sydney’s councils that it could change the character of the suburbs, and we recommended that councils define significant appropriate areas where a town house typology would be appropriate.
Last Friday also saw an extension given to the deadline for councils to produce a Draft LocalStrategic Planning Statement by 1 July 2019 to now be required by 1 October 2019.
The final statements were due on 1 December 2019 but these have been extended by four months to 31 March 2020.
Originally Sydney councils had to finalise their strategic plans by 1 July 2019 but in September 2018 councils were given an extra five months until 1 December 2019.”
The Urban Taskforce is concerned at the slowness of the implementation of these planning policies, as Planning Minister Rob Stokes has stated that his preference is to bed down the planning system so all parties have clear, fixed rules - but it seems the time span to do this is stretching out as the state government and councils try to drive outcomes.
CHRIS JOHNSON is the Urban Taskforce CEO
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NSW planning policy deadline extension is a concern: Chris Johnson

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The rate cut announced by the Reserve Bank of Australia to 1% is a great boost for the housing market but the NSW government must add its support.
The record low RBA interest rate of 1% sets a framework for a boost to the ailing housing market in New South Wales.
The NSW government must use this once in a generation low interest environment to reactivate the ailing housing market in the state. 
Housing approvals have collapsed over the last year and pre sales have also slowed down for new apartment projects.
The federal level is clearly trying to help with the RBA’s rate cut, as well as APRA’s loosening of credit restrictions on bank loans and the re-election of the Morrison Government has lifted confidence in the housing industry.
The missing ingredient is a signal from the NSW government that they want housing supply to continue.
The NSW government now needs to help kick start the industry by reducing the excessive time it takes for approvals, and by delaying the removal of the cap on local infrastructure contributions that could add $50,000 to the cost of a new home.
There also needs to be clarity on the status of various priority / planned precincts that seem to have got caught up in the rezoning process.
The Minister for Planning, Rob Stokes, and the Minister for Housing, Melinda Pavey, need to develop an action plan that can build on the positive environment that is coming from federal decisions.
They may also need to liaise with the federal Minister for Housing, Michael Sukkar.
The Urban Taskforce is keen to work with all levels of government to re-activate the housing industry in New South Wales.
CHRIS JOHNSON is the Urban Taskforce CEO.
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Rate cut a boost for housing but NSW government must do more: Chris Johnson

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EXPERT OBSERVATION
The NSW Premier's priorities for the next four years do not include housing supply.
The previous priorities for the NSW Premier for 2015 - 2019 included a number of priorities around housing supply, but these have been left off the 2019 - 2023 priorities.
While many of the Premier's new priorities are laudable, the absence of any priority around housing supply seems to signal a lack of interest in how the state will house population growth in an affordable manner.
Premiers Priority 7 is about reducing street homelessness by 50% by 2025, and this is a laudable priority to pursue.
Urban Taskforce member Toga has led the way in this area with their Addison Project in Randwick, which provides accommodation free of charge in an old motel that is awaiting development.
Another Urban Taskforce member, PAYCE, supports the Sydney Street Choir and they run programs that help with homelessness.
The last round of Premier's Priorities included 'Making Housing More Affordable' (Including target housing completions per year) and "Faster Housing Approvals' and ‘Accelerated Rezoning for Housing' but none of these have been included in the latest priority list.
While housing value has decreased in the last few years, there is now a big housing approval shortage that will inevitably lead to an under supply in the years ahead. This will reduce the number of new homes required for population growth, and inevitably lead to housing prices going up again.
The priorities from the last four years that referred to housing supply related to the planning system seem to have been replaced by priorities for greener public spaces and for greening the city.
While these are worthwhile areas to aim for they do not compare to the economic importance of housing supply and housing costs.
Clearly how housing is managed in a time of high population growth is an important policy issue for the NSW Government that should be measured. As the Premier in her media Release said, 'What gets measured gets done'.
CHRIS JOHNSON is the Urban Taskforce CEO
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Berejiklian's priorities leave out housing supply: Chris Johnson

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The NSW Budget indicates that the softening housing market has wiped out $10.6 Billion in expected stamp duty since 2017 but the Budget has no stimulation for the housing market.
The NSW Budget is a well -rounded document that continues the government’s roll out of city shaping infrastructure with $93 Billion committed to key projects.
The positive commitment to infrastructure is offset by a loss of $10.6 Billion in expected stamp duty due to the soft housing market.
The major commitment to infrastructure should underpin the urban growth across the state with a major focus on public transport growth that should occur around rail stations and in city centres.
The housing development industry is getting mixed signals from government on where development should occur and this is eroding confidence within the industry. 
Confusion exists over the ‘missing middle’ code, the future of spot rezoning, affordable housing levies and the impact of lifting the cap on infrastructure levies. 
Resolution is needed on these areas so that the current slow-down can be reversed.”
While housing construction is down the budget papers do point out that this is partly off-set by the large infrastructure construction commitment and a swing by some developers towards commercial office projects. 
Unfortunately for the budget these projects do not contribute stamp duty to the Treasury.
The Budget Statement (P 2-4) states that apartment commencements fell 22 per cent within the final quarter of 2018 and then states ‘Expectations for ongoing strong population growth and a stabilisation in house prices from late 2019 should encourage the commencement of more projects. 
How conditions in the housing market evolve over the next 12 months will be important for dwelling investment and household consumption.’ 
The budget included a proposal to drive reform of Federal Financial Relations with a review from a NSW perspective.
On major rail infrastructure projects the Sydney Metro West will receive $6.4 Billion over 4 years to fast track construction.
 These large rail infrastructure projects in Minister Andrew Constance’s portfolio are important locations for Sydney’s growth.
Western Sydney is a big winner in the budget with Stuart Ayres portfolio receiving $561 million for 2019-20 towards the Parramatta Light Rail, $404 million to upgrade the Northern Road, $286 million for Westmead Hospital, $196 million for Nepean Hospital. $108 million for Campbelltown Hospital.
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The Minister for Planning and Public Spaces, Rob Stokes, had smaller financial commitments including $113 million to create connected communities and $162 million to upgrade government-owned land and buy new land for public parklands as well as for increasing tree canopy across Sydney.
The NSW Budget demonstrates that the state’s finances are in a strong position but the reduction in expected stamp duty is warning signal that the housing market has problems in years ahead. 
The Urban Taskforce believes that the NSW Government needs to have a plan to ensuring the softening housing market is managed back into a strong position that handles population growth and continues the large number of jobs the industry generates.
CHRIS JOHNSON is the Urban Taskforce CEO
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NSW Budget has little to help the housing sector: Chris Johnson

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

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ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

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Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

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Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

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Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

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Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

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Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

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The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

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Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

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Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

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Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

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Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

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The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

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The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Chris Johnson

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