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EXPERT OBSERVATION
The Aerotropolis Investor Summit is a positive move to encourage private sector investment into future jobs for Western Sydney.
The focus on the 10,000 hectare economic zone around Western Sydney Airport as the location for a massive growth in Western Sydney jobs is a good example of the outcomes of the City Deal between the three levels of government.
And the establishment of the Western Sydney Development Authority under Chief Coordinator Geoff Roberts will lead to faster decision making in turning plans into reality.
The range of jobs proposed is impressive covering aerospace, defence, manufacturing, healthcare, freight, logistics, agribusiness and education.
Clearly these jobs will be closer to the people of Western Sydney and help redress the jobs exodus from the West to the East in Sydney.
The proposed North South Rail Link will help Western Sydney residents have easy access to the jobs hub.
The potential expansion of the West Metro from Parramatta announced by the Premier, Gladys Berejiklian, at the Summit would link all three cities across metropolitan Sydney.
While the Investor Summit has focussed on the issue of jobs there also needs to be more discussion about the residential components of the third city, the Parkland City.
With the Western Sydney Airport having no curfew clearly housing will be located kilometres away from the airport and the economic zone.
Most commentators on cities prefer a mixed use approach to planning where jobs and residential co-locate to ensure a lively public domain.
Future planning will need to address this issue so that the Parkland City can be as successful as the Harbour City and the River City.
CHRIS JOHNSON is chief executive officer of property development industry group Urban Taskforce and can be <a href="https://www.urbantaskforce.com.au/?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">contacted here</a>.
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Aerotropolis private investment critical for Western Sydney jobs: Chris Johnson

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The recent boom in housing supply in Sydney is slowing rapidly due to excessive levies and planning changes.
The development industry is a major provider of jobs in New South Wales, providing 400,000 direct jobs as well as generating huge employment in supporting industries and services.
But a recent survey of Urban Taskforce members indicates that the number of pre-sales for apartments has slowed down and this could have major impacts on employment, particularly in Sydney.
While the property industry is a huge driver of jobs in NSW it is the residential sector that represents 70% of these jobs.
It is therefore critical to keep the supply of residential projects flowing at the levels the NSW Government has proposed.
With 325,000 new homes required over 20 years according to the Greater Sydney Commission that translates to over 37,000 new homes a year.
The peak in recent times has reached this figure but there is a worrying drop in approvals over recent months and there seems to be an even bigger drop in pre-sales of apartments.
There are a number of contributing factors to the slowing housing market.
These include confusion over possible affordable housing levies, the raising of the cap on Section 94 infrastructure levies, the increase in the stamp duty from 4 to 8% in NSW for foreign investors which has turned them away and the restrictive policies of banks in lending to purchasers and to developers.
The Urban Taskforce has produced a publication on the importance of jobs from the development industry to the NSW economy which demonstrates the extensive number of specialist jobs that are part of residential construction, including apprenticeships which provide valuable training and opportunities for young people.
We need to keep the economy performing strongly so that the jobs and the funds keep flowing to federal and state governments from GST and Stamp Duty taxes.
Chris Johnson heads the Urban Taskforce, a property development industry group, representing Australia’s most prominent property developers and equity financiers.
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Sydney housing boom starting to slow - and jobs will take a hit: Chris Johnson

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EXPERT OBSERVATION
The approval by the NSW Government of a new tower over the future Martin Place metro station is a good balanced solution.
It is important that the NSW Government works with the private sector in rolling out new metro rail lines and stations and the proposal for the Martin Place station is an excellent example of this.
The final setback above a podium of 8 metres maintains the character of Martin Place while allowing a commercial tower to be built over the podium but set back by 8 metres.
The City of Sydney have raised concerns that a set-back of 25 metres would have been preferable but their comments do not take into account that the adjacent MLC Centre tower is set back far more than this.
The proposed tower is well away from the Cenotaph down the far end of Martin Place and is more contextually related to the Reserve Bank building at the top of Martin Place.
As Sydney evolves into a global city with a population of 8 million people there will need to be a balance between maintaining the built form of the past and shaping the city of the future.
It is good that robust discussion occurs as new proposals are made but ultimately the city must change and evolve.
The government’s decision on the unsolicited proposal for Martin Place Station and related new buildings represents a good balance between the past and the future.
The use of the NSW Government Architect Peter Poulet, who strongly supported the 8 metre setback, in achieving this balance is also a good process to ensure quality change occurs in the city.
CHRIS JOHNSON is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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Martin Place tower a good balanced solution for Sydney: Urban Taskforce

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EXPERT OBSERVATION
The record number of completions of 40,009 new homes in the year to February 2018 is good news for housing supply with strong population growth.
The 40,009 housing completions are above the required 20 year average of 36,250 per year which is good news.
The approvals for these homes came a few years ago at the peak of the housing boom and it is good to see that the combination of government policies and the hard work of the development industry is paying off.
The big change from earlier years on housing production has been the rise in the proportion of new homes that are apartments which are close to 70% of the total.
A decade ago detached houses and apartments were approved at similar numbers but now apartments and multi-unit dwellings are in the majority.
Changes to the planning system have also helped with the establishment of planning panels for large projects and the increase in complying development approval streams.
Most apartment projects are larger scale projects so the role of planning panels in assessing these will continue to be important.
While the housing completions have reached record levels the approvals are dropping.
In February 2017 there were 58,774 approvals compared to the 51,994 housing approvals in February 2018. This is an 11.5% drop and it appears that this will go down further.
Clearly the housing development industry will go through peaks and troughs but it is important that government policies continue to support both strong approvals and strong completions and do not add additional cost to development or add red tape.
The Urban Taskforce is keen to work with the NSW Government to ensure a consistent flow of new homes for Sydney.
CHRIS JOHNSON is the Urban Taskforce CEO.
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Sydney's record home completions is good news: Chris Johnson

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EXPERT OBSERVER
Sydney councils are requiring an excessive number of specialist reports to submit a development application (DA) for a simple house.
The Urban Taskforce has undertaken a review of the number of reports required by Sydney councils for the lodgement of a DA for a simple house and we have found an amazing number of reports required.
Bayside Council requires 27 reports, Liverpool City Council requires 26 and Willoughby requires 23 reports just for a simple house. If a residential flat building is proposed the DA requirements escalate with the Northern Beaches Council requiring 49 reports. Each council issues a check list that lists the growing number of detailed reports required. Clearly this is getting out of control.”
Recent NSW Government initiatives to increase the number of projects that are assessed under Complying Development rules are excellent moves to a simpler planning system that have been announced by NSW Planning Minister Anthony Roberts.
The Greenfield Housing Code and the Missing Middle Code bye-pass most of the excessive number of reports required for Merit Assessed projects and this system should be expanded to larger scale projects.
Reports now required by Sydney councils for lodging a residential DA include Access Report, Acid Sulfate Soils Report, Air Quality Report, Asbestos Management Plan, Construction Noise and Vibration Management Plan, Contamination Assessment, Crime Risk assessment Report, Flora and Fora Assessment, Hazardous Materials Survey, Heritage Impact Statement, Noise Impact Analysis, Reflectivity Report, Security Management Plan, Tree Management Plan, Water Cycle Management Plan and many others.
Despite the introduction of the Greenfield Housing Code the NSW Government still sets requirements for multiple reports for merit assessment for a house that does not fit the code rules in the Box Hill Growth
Centre Precincts Development Control Plan that will be assessed by the Hills Shire Council requiring or may require 23 reports for a simple dwelling house DA. The reports include a Construction Noise and Vibration Management Plan, Contamination Assessment, Erosion and Sedimentation Control Plan, Statement of Environmental Effects, Shadow Diagrams and possibly a Heritage Impact Statement, Noise Impact Analysis, Preliminary Engineering Drainage Plans.
Liverpool City Council require for a single dwelling house a Statement of Environmental Effects, Waste Management Plan, Sediment Control Plan and potentially a Traffic Report, Arborist Report, Archaeological Assessment, Salinity Management Response and Odour Assessment.
Canterbury Bankstown require a Neighbour Notification Plan for a DA for a single house. Willoughby City Council require for all DAs an Arborist Report, Acoustic Report, Archaeological Assessment Report, Demolition Report, Erosion/ Sediment Control Plan, Shadow Diagrams, Site and Context Analysis, Traffic and Parking Assessment and a Waste Management Plan.
The Urban Taskforce research found that there were 81 separate reports required for a residential DA across all of the Sydney councils and this did not include a number of other reports required for non- residential DAs.
Clearly a number of these reports are necessary to assess the Development Application for a single house but over recent years the number of specialist reports seems to have grown dramatically. Each of these reports costs the applicant a significant amount of money which just increases the cost of housing in Sydney.
It looks like council planners are very risk adverse and want expert reports on multiple areas that they can use to justify their decisions. The Urban Taskforce believes the requirements for a simple house DA have got out of control and that the NSW Government needs to review this by applying similar approaches to those contained in the complying codes. A whole industry of consultants has grown up around the requirement for expert reports and no doubt this group will encourage the need for even more reports. A balance is required in terms of a Report Impact Statement on Housing Costs to ensure the assessment process has not become too complex.
See below the schedule of reports required by 21 Sydney councils and the list of the 81 reports required for a residential DA in Sydney.
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/23/taskforce.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/23/taskforce.jpg" alt="">
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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27 is too many! Reports required for a DA in Sydney is excessive: Chris Johnson

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EXPERT OBSERVATION
The Australian Housing and Urban Research Institute (AHURI) report on affordable housing policies should support incentive approaches but must not increase apartment costs.
The AHURI report by a number of Australian academics is a useful exploration of trends and policies across the world but the Sydney market is different.
Many countries use taxation deductions and other incentives to achieve a supply of affordable homes.
Even the South Australian system referred to in the report is different to anything proposed in Sydney as it defines 15% of homes for sale at a reduced price.
This is much more feasible than giving 15% of all your homes to the local council.
Houses and apartments in Sydney are amongst the most expensive in the world when related to household income.
Much of this high price is driven by restrictions on zoning new land for residential homes according to the Reserve Bank report on ‘the Effect of Zoning on Housing Prices’.
The zoning effect increased Sydney per house price by a whopping $489,000 and in Melbourne by $324,000.
On top of all this there is a range of levies and taxes added to the cost of a dwelling by the NSW Government and the local council.
To add even more cost to new dwellings as proposed by AHURI will only drive overall housing costs upwards.
The AHURI preferred approach is to have inclusionary zoning only applied to apartments yet apartments have already become the affordable way to live for many Sydney households.
The average apartment in Sydney is around 40% cheaper than the average house so this dwelling type has become the affordable way to live for many households.
AHURI however proposes an inclusionary zoning system that can only lead to forcing apartment costs up.
We should be getting other building types like detached houses, commercial and retail developments to contribute to affordable housing rather than add an extra cost to the most affordable dwellings in the city.
The Urban Taskforce has developed an approach to providing up to 40,000 affordable homes across Sydney over a ten year period.
We propose using the Affordable Rental Housing SEPP that gives an uplift in floor space if 20% of the apartments are affordable rentals for 10 years.
The incentive needs to also be 20% and this will encourage most developers to provide a percentage of apartments that are lower in rent than the market.
Stronger leadership by government on affordable housing policies is needed in NSW.
Currently the Department of Planning and Environment controls some policies, the Greater Sydney Commission proposes targets only on uplift and if feasible yet many councils are pushing for inclusionary zoning percentages that would make new housing projects unviable.
The Urban Taskforce is keen to work with all agencies to get a Sydney approach to housing affordability that is sustainable in the long term.
CHRIS JOHNSON is the Urban Taskforce CEO.
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AHURI’s affordable housing proposals will only push unit prices up: Chris Johnson

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EXPERT OBSERVATION
The recent announcement by the NSW leader of the Opposition that Metro West rail will be preferred over other lines misses the point that the full network for Sydney is required.
NSW Opposition Leader, Luke Foley, has announced that he will fast track the Metro West rail if elected at the state election and cancel the Sydenham to Bankstown rail line.
But Sydney needs both rail links as part of a broader infrastructure network for the city.
As Sydney moves from a city of five million people to eight million over the next 40 years the city will need to shift to public transport with greater housing densities around railway stations.
Ultimately the city will need a metro rail network similar to London’s with a circle line and a central line.
The Urban Taskforce has proposed a structure for Sydney’s metro based on a central line that requires West Metro as an important link but we have also proposed a circle line that carries the North West rail through North Sydney and along the Sydenham to Bankstown line ultimately to the proposed Western Sydney airport.
Clearly there will need to be greater densities around railway stations on this network and it is unhelpful for the Opposition Leader to call this ‘shoehorning an extra 100,000 people into high-rise towers’.
The Metro West link is probably more important than the Sydenham to Bankstown line in the short term as the current western rail line is approaching capacity.
It is positive that the Opposition is committed to this important piece of infrastructure.
The Urban Taskforce encourages all political parties to support new metro rail infrastructure in the lead up to the next state election but we are very concerned about rhetoric from both major parties that is against the development of apartments near transport modes.
Chris Johnson is the chief executive office of the Urban Taskforce.
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Sydney rail projects need to meet broader infrastructure needs: Chris Johnson 

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EXPERT OBSERVER
The announcement by the NSW Government that four transport corridors are now on exhibition that will underpin Sydney's third city, the Parkland City, is good news.
Infrastructure is the key to accommodating Sydney's growth and the announcement that the NSW Government has identified four transport corridors for the Western City is a good step forward.
The four corridors total 192 kilometres of land reservations that link Western Sydney to the north, south, east and west.
The North South rail corridor will ultimately connect Campbelltown, Western Sydney Airport and the main Western rail line at St Marys. The Outer Sydney Orbital is a vital future ring road and rail freight corridor to Sydney's west.
The Western Sydney Freight Connection will connect to the broader network and the extensive new road connection from Bells Line of Road in the west to the M7 will connect the Blue Mountains more strongly to the road network.
All of these proposed corridors reinforce the City Deal across three levels of government and give momentum to the important development of Western Sydney around the proposed airport.
It is also important to reserve land corridors early in the planning process before prices escalate and this seems to be the case with the four corridors announced.
While these corridors have been announced, the NSW Government is still keen to get community and industry feedback on the alignments. The Urban Taskforce will look closely at the corridors and consultant with our members to provide constructive feedback.
Ministers Pavey and Ayres are demonstrating good leadership in making clear proposals for necessary infrastructure to underpin the future growth of Western Sydney.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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Western Sydney transport corridors essential for Parkland City: Urban Taskforce

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The recent interest in Brutalist buildings by the City of Sydney Council and the National Trust has become a new way to stop new housing projects.
The supporters of Brutalist buildings have moved on from their failure to get the Sirius Building listed to another Brutalist building sitting amongst the Victorian streetscapes of Glebe.
The Glebe building is the Bidura Metropolitan Remand Centre (BMRC) that was built in the 1980s to house children going through the Children’s Court system.”
“The recent Central Sydney Planning Committee meeting supported a council proposal to have the Bidura complex becoming a heritage item even though the City Council’s own Local Environmental Plan allows an 8 story apartment building on the site and no heritage controls have existed on the Remand Centre before.
The brutalist BMRC building (above) presents tall blank concrete walls to the street that have very little of the active uses the council normally requires. Proponents of the heritage listing amazingly compared it with the sandstone Queen Victoria Building on George Street in the city with its extensive display windows and many entrances.
But more importantly the moves to keep the building would stop a state government asset sale objective of providing new housing on a site close to a village centre and public transport. It will be almost impossible to find compatible uses for the concrete monolith unless they relate to prison like uses that want to exist in a concrete fortress.
At the time of the sale of the site by the NSW Government to the private sector there was no heritage controls on the site apart from the 1860 original Bidura House and the City of Sydney’s planning rules allowed an eight storey apartment building, similar to neighbouring sites, to be constructed. Now that the site has been sold to the private sector the Sydney City Council wants to change all the rules. The state government must ensure that there are consistent rules when their sites are sold or the private sector will not have confidence in the sale process.
The extensive support documents to the councils proposed heritage listing lauded British Brutalist buildings including the Barbican Centre in London as good examples of Brutalism. The Barbican Centre takes up a full city block but the street edge on all four sides is either a blank concrete wall, a concrete car park or on one side service entries off a covered road that looks like a tunnel. Brutalism seemed to be very unfriendly when it presented to the public realm of the street as demonstrated by London’s Barbican Centre and Glebe’s Bidura Children’s Court and Metropolitan Remand Centre.
The Urban Taskforce is concerned about the sovereign risk that the change of planning rules creates after government disposes of an asset. We are also concerned about the growing trend to try and list as heritage items Brutalist buildings that have poor relationships to the street and are seen by many people as being ugly.
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CHRIS JOHNSON is chief executive officer of property development industry group Urban Taskforce and can be <a href="https://www.urbantaskforce.com.au/?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">contacted here. </a>
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Protection of Brutalist Buildings being used to stop new development

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The academic report by researchers from the Australian National University (ANU) that outlines the potential over supply of housing in Sydney misunderstands the strong swing to inner city urban living, says the Urban Taskforce. 
The academic report by Australian National University researchers Cukko Joseph and Ben Phillips seems to be based on search algorithms rather than the reality of the market place.
The researchers utilise the search algorithm Newton-Raphsin in the Gregwt SAS Code in their 22 page report to conclude that there is a major oversupply of new homes in Australian cities but NSW government data indicates an undersupply.
The ANU report focusses on a supposed over supply of 5,900 new homes in Inner Sydney but rents are still high in this region indicating an undersupply. The NSW Government predictions are that 40,000 new homes are required each year for Metropolitan Sydney for 20 years yet we are currently only at 35,000 new homes a year.
The Sydney inner city housing market is being driven by a swing to urban living where young couples and older downsizers are looking for a cosmopolitan urban lifestyle that is close to amenities and public transport. Predictions on housing demand must understand this change in living preferences that is quite different to a few decades ago.
The study does acknowledge that its methodology does not account for real demand for new housing. A ‘real demand’ analysis would incorporate consumer preferences and other economic drivers, such as interest rates or employment’. The study also admits there are limitations in its analysis – in terms of its conceptual basis and the data it relies upon. It also states that the study ‘does not conclude that people’s housing needs are being met’.
While all research reports are useful, inputs into the current discussion on housing supply and demand must be balanced with the extensive demographic research undertaken by government agencies.
Our concern with the ANU statements is that they could encourage governments at state and local level to put a brake on housing supply by adding further levies and by slowing down planning approvals. The end product would be to dramatically reduce supply and so drive up the price of housing creating affordability problems.
The Urban Taskforce urges governments at all levels to reduce levies on new housing and to simplify the planning system so that affordable housing can be delivered for those keen to own their own home as well as for those that prefer to rent.
CHRIS JOHNSON is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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ANU predictions of housing over supply in Sydney misunderstanding the swing to urban living

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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"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."

[smartcode_project:default project_id=135096 project_image_fid=356829]

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.

[smartcode_project:default project_id=135096 project_image_fid=356822]

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.

[smartcode_project:default project_id=135096 project_image_fid=351102]

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."

[smartcode_project:default project_id=4661 project_image_fid=372549]

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."

[smartcode_project:default project_id=4661 project_image_fid=314259]

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.

[smartcode_project:default project_id=4661 project_image_fid=372550]

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."

[smartcode_project:default project_id=102717 project_image_fid=355304]

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.

[smartcode_project_cta:default project_id=102717]

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."

[smartcode_project:default project_id=5743 project_image_fid=953]

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.

[smartcode_project:default project_id=5743 project_image_fid=925]

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."

[smartcode_project:default project_id=5743 project_image_fid=5374]

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."

[smartcode_project_cta:default project_id=5743]

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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