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EXPERT OBSERVER
On the 25th of March, real estate agents were temporarily banned from hosting open property inspections and on-site auctions.
The ban resulted in changes to the auction process, which went from on-site to online. These changes are reflected in some startling data points in the auction results. Below is a summary of typical auction outcomes before and after auction bans were put in place.
The biggest stand-out in the data is an increase in properties withdrawn from auction. From the week ending 29th of March, to the week ending 3rd of May, the portion of scheduled auction events withdrawn averaged 45.8% across the combined capital cities market. This is about 8 times the 5-year average rate of withdrawn properties prior to COVID-19, which was 5.7%.
While withdrawn properties increased, the total number of scheduled auctions came down in the weeks after the nation-wide lockdown. This partially reflects vendors and agents adapting to the private treaty sale method, or adapting to online or over-thephone auctions. As a result, the withdrawn rate has since come down to 26.4%. The decline in auction volumes was also partly attributable to the Easter long weekend, which typically sees very low levels of listing, buying and selling activity
The clearance rate for the combined capital cities reached a record low (excluding January results which are seasonally impacted) of 30.2% in the week ending April 19th. This has since stabilised to 47.5% for the week ending 3rd of May.
The dramatic drop-off in the clearance rate was largely because CoreLogic counts a ‘withdrawn’ property as a non-sale. Meanwhile, 17.1% of scheduled auctions were passing in after the on-site auction ban was introduced.
Ultimately, most of the decline in the clearance rate can be explained through an engineered slowing of auctions. This is important to note, because clearance rates and changes in home values have historically been closely correlated.
At face value, the sharp fall in clearance rates implies housing values could follow a similar trend, however there is a good chance the relationship has at least temporarily disconnected due to the high withdrawal rate dragging the clearance rate to artificial lows.
Will the re-introduction of auctions have an impact on the residential market?
As open inspections are gradually reintroduced across the country, and onsite auctions re-commence in NSW, it is worth considering what impact, if any, this would have on the volume of transactions and price levels. CoreLogic estimates that the number of transactions has dropped about 40% over April, while prices held relatively firm.
Having multiple, potential buyers inspect property would increase productivity for agents, potentially enabling more stock to come to market.
Public auctions may expose buyers to their competition, which in a market where prices are rising, could induce people to make higher bids and become more competitive.But in the current market, consumer confidence is recovering from the lowest levels since the early 90’s recession, and prices are likely to start falling.
In Melbourne, where 46% of all capital city auctions were held in the 2019 calendar year, values already showed a 0.3% decline over April. This means the auction method of sale may be less popular with vendors and agents.
The easing of restrictions on auctions comes as the ABS reports that paid employment positions have fallen 7.5% across Australia, and total wages paid has decreased 8.2%.
Ultimately, being able to look at property, and bid publicly on property, does not increase capacity to buy property. The real estate industry is more likely to see a recovery when other sectors return to normal operations, and consumer sentiment lifts from its current lows.
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Understanding the auction trends during Covid-19 pandemic: Eliza Owen

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EXPERT OBSERVER
COVID-19 is having varied impacts on residential property, but arguably the biggest impact could be in the rental space.
Prior to COVID-19, the Australian rental market was already weak. Now, new challenges are here. As Australian borders remain closed to tourists, and government policies restrict short-term rental arrangements, Airbnb rentals are converting to long-term rental supply. The added supply means rents could go down.
This is compounded by a decline in demand. Rising job losses are seeing some tenants negotiate lower rents, or find alternative accommodation, such as choosing to move back with parents. A pause on the flow of international student and migrant numbers could see more properties sitting empty, while domestic students are less inclined to rent close to universities, as they access study remotely.
But the impact on different regions will vary, depending on how exposed markets are to tourism, migration and job losses. Several datasets point to Inner Sydney and Melbourne being the most affected.
Inner city Sydney and Melbourne to be the hardest-hit rental markets
Preliminary listings data estimates that between the week ending 22nd of March and the week ending 26th of April, the number of properties for rent have increased 0.8% across Australia.
But the most remarkable increases were in the inner-city regions of Melbourne and Sydney, where rental listings have risen over this short period by 36.2% and 34.1% respectively.  
The chart below shows the SA4 regions across Australia where rental listings increased over the period following the 22nd of March. This was around the onset of the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-03-23/coronavirus-shutdown-in-australia-whats-open-whats-closed/12081074" target="_blank" rel="noopener noreferrer">strictest lockdowns in business operations</a>, and just after borders were <a href="https://www.pm.gov.au/media/border-restrictions" target="_blank" rel="noopener noreferrer">closed to non-residents and non-citizens. </a>
<a href="https://www.corelogic.com.au/sites/default/files/2020-04/image_1_0.png" target="_blank">Click to enlarge:</a>
<img src="https://www.corelogic.com.au/sites/default/files/2020-04/image_1_0.png" width="926" height="606">
As well as elevated levels of recently completed dwellings, part of the reason for higher vacancies in these areas is a negative demand shock from employment and temporary restrictions on migration.
Rental markets are particularly susceptible to declines in overseas migration, because the majority of <a href="https://treasury.gov.au/sites/default/files/2019-03/nhsc-state-of-supply-report-2011.pdf" target="_blank" rel="noopener noreferrer">new migrants seek rental housing upon arrival in Australia.</a>
This will impact Inner Melbourne, which has previously maintained stable rental conditions amid high housing supply, because of rapid growth in international migration. According to <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Latestproducts/3218.0Main%20Features152018-19?opendocument&amp;tabname=Summary&amp;prodno=3218.0&amp;issue=2018-19&amp;num=&amp;view=" target="_blank" rel="noopener noreferrer">ABS migration data</a>, the Melbourne council region population increased by 8,638 over 2018-19. But 99.5% of this increase was attributable to overseas migration.
This means that new rental demand in this area is almost entirely sourced from overseas migrants.
Areas vulnerable to job-loss also have a high portion of renting households
Furthermore, some of the regions in Australia that have been most vulnerable to job loss as a result of COVID-19, are also regions where a high portion of people rent.
This is fairly intuitive when considering the kinds of services and workers that have been most impacted by COVID-19. A recent ABS survey of changes in employment found that a substantial -25.6% of jobs had recently been lost in accommodation and food services. Arts and recreation services saw job losses of -18.7%. People employed in these industries, such as hospitality workers, are more likely to be young, and renting.
This is also supported by data. The scatter graph below compares two characteristics of SA4 geographies in Australia: the workforce exposure to food and accommodation and arts and recreation (horizontal axis), and the estimated portion of rental dwellings (vertical axis).
<a href="https://www.corelogic.com.au/sites/default/files/2020-04/image_2_0.png" target="_blank">Click to enlarge:</a>
<img src="https://www.corelogic.com.au/sites/default/files/2020-04/image_2_0.png" width="1087" height="669">
While there is not a perfectly correlated relationship between these industries and renting households, the chart does highlight that Inner Sydney and Melbourne have both a relatively high portion of workers exposed to potential job loss, and renting households. Inner Brisbane and Sydney’s Inner West may also have rental markets with a high incidence of job loss, but so far rental listings have not increased as dramatically.
Between high levels of migration and susceptibility to job loss, inner city Sydney and Melbourne are already experiencing a sharp rise in rental supply. This will have a range of implications, including the potential for downward pressure on purchase values, an erosion of rental yields and added settlement risk for off-the-plan purchases approaching completion. For potential renters still in employment, this will also create cheaper accommodation options close to the city
ELIZA OWEN is CoreLogic's <a href="https://www.corelogic.com.au/news/early-market-indicators-show-first-signs-housing-market-slowdown?utm_medium=email&amp;utm_source=newsletter&amp;utm_campaign=20200420_propertypulse" target="_blank">head of research</a> 
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Which rental markets are hit hardest by the pandemic? CoreLogic's Eliza Owen

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EXPERT OBSERVER
When governments rolled out international travel restrictions, closed state borders and banned unnecessary travel as well as closing pubs, restaurants and casinos along with a variety of other facilities it was clear that the tourism and hospitality sectors would be some of the hardest-hit sectors.
However, it is still striking that 70% of food and accommodation employers reported a reduction in staff hours.
Food and accommodation employs about 8% of Australians, or about 1.2 million people. This is where a more granular view of employment data can highlight risks to the property market.
The detailed quarterly survey data provides insight into what industry residents work in, at the SA4 level.
The February edition suggests that most food and accommodation workers are highly concentrated in Sydney’s Inner West, followed by the Sunshine Coast and the Coffs Harbour-Grafton region.
<img src="https://www.urban.com.au/images/2020/4/9/CL%20food.png" alt="">
The risk to demand-side factors for property is particularly susceptible in areas of high employment in food and accommodation, as the sector typically has more ‘precarious’ work arrangements. About 62% of those employed in the sector are employed on a part time basis, compared with the broader workforce, where 32% of staff are employed part time.
Interestingly, some of these areas also have more precarious housing arrangements, with higher portions of rental housing than ownership.
In Sydney’s Inner West, 35.4% of households are estimated to be renting households, as opposed to 31% nationally. This means that lesser hours in food and accommodation services may affect property values indirectly, because value estimates may be reconsidered based on rental return.
For Hobart, where 9.3% of the population are employed in food and accommodation, the CoreLogic home value index shows there has already been a drop in dwelling values, of -0.2% in March.
However, it is worth noting that the Hobart market was arguably due for correction even before the onset of COVID-19, having seen annualised capital growth of 7.7% each year for the past 5 years to March 2020.
Therefore, even though high concentrations of food and accommodation employment are indicative of greater risk to the property market, ongoing assessment of price and employment shifts will be necessary to isolate the full impact of COVID-19 on values. 
ELIZA OWEN is the Head of Research Australia at CoreLogic
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Food and accommodation work is more precarious for housing and employment: CoreLogic's Eliza Owen

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The economic slowdown resultant from COVID-19 has changed working conditions for many. But quantifying the impact on labour markets at this stage is difficult.
That is because labour market data is not real time, but instead reference the first two weeks of the previous month to the data release date.
The start of the economic slowdown was not felt until halfway through March 2020, meaning unless the survey methods are altered, regular labour force data will not show an impact until the May edition.
However, there are some things we already know about Australia’s labour force that provides insight into how property markets may be particularly affected.
Many workers are having their hours reduced On April 7th, the ABS released new survey results on the impact of COVID-19 on businesses.
Over 1,200 business representatives responded, revealing changes that had been made to the workforce.
 
Of the actively trading businesses surveyed, about a quarter reported reducing staff hours over the past few weeks. A summary of businesses reporting reduced staff hours by size and industry is presented below. 
<img src="https://www.urban.com.au/images/2020/4/9/CL%20working.png" alt="">
Reduced staff working hours is an early response businesses typically adopt during a downturn, with a view to preserving jobs
ELIZA OWEN is the Head of Research Australia at CoreLogic
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The COVID-19 labour market shift: CoreLogic's Eliza Owen

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EXPERT OBSERVER
Amid an extraordinary economic slowdown, the Australian economy is heading for its first recession in almost 30 years.
Indicators suggest this fall in demand is starting to weigh on the property market. But a frequent stream of monetary, fiscal and social policies are being rolled out in an attempt to soften the blow to the broader economy, which will also help to insulate housing markets.
Over March, the JobSeeker payment was increased by $550 per fortnight, effectively doubling the highest allowance. Additionally, on the 30th of March, a $130 billion wage subsidy payment was announced, which would see employers receive $1,500 per employee per fortnight.
For eligible employers and employees, workers would receive a gross wage supplement of $1,500 before tax on a fortnightly basis.
The game-changing package has led Westpac economists to reduce their forecast for peak unemployment from 17.0%, down to 9.0%.
This will ultimately lessen downward pressure on housing demand, as more people are able to retain their job during and after the COVID-19 shutdown.
How many rentals are ‘affordable’ on the JobKeeper package?
The JobKeeper subsidy may also see fewer households fall into housing affordability stress.
Housing affordability stress is a situation where households expend more than 30% of income on housing costs, such as rent. To understand how many households may be better off, it is worth considering how many rentals are currently able to be serviced on 30% of the JobKeeper payment.
<img src="https://www.urban.com.au/images/2020/4/6/TABLE%201.png" alt="">
Table 1 (pictured above) shows the portion of the rental market in capital city and regional areas that could be serviced by an individual using just 30% of the JobKeeper or JobSeeker payments (i.e, what portion of the rental market can be rented for $450 per fortnight, or $330 per fortnight).
In considering typical household composition, Table 2 (pictured below) reflects the same analysis for a couple both receiving a benefit.
<img src="https://www.urban.com.au/images/2020/4/6/TABLE%202.png" alt="">
The analysis does not take into account tax on the JobKeeper payment, or voluntary employer top-ups of the JobKeeper amount.
The data highlights that the JobKeeper payments significantly increase the portion of affordable private rentals in Australia.
Flat payments are proportionately beneficial for renting households where rents are cheaper, such as in Regional Tasmania and South Australia.
Incidentally, these are areas that may be more severely impacted by the economic slowdown in terms of the concentration of the labour force in agriculture, food service, tourism and accommodation.
But even with the relatively small portion of rental properties being affordable elsewhere, it is likely that current social distancing measures would see less discretionary spending, enabling a higher portion of income to be used in servicing rent.
Additionally, further protections for renters are in the works. On the 29th of March, federal and state leaders announced a 6 month moratorium on residential and commercial tenant evictions, for households in financial stress who cannot meet payments because of the coronavirus impact.
At a press conference the next day, Prime Minister Morrison made an allusion to further rental assistance, such as a rent guarantee, but such details were “still being worked through”. This would ease pressure on renters to service their full rent commitments, however the impact on landlords remains uncertain. Another note on this data is that it reflects rental valuations as of early April.
As income and job prospects decline, the private rental market will likely see a downwards adjustment, with landlords of vacant properties potentially having to lower rents in order to meet the market.
A final takeaway from this data may be that now is an opportune time to explore more social and affordable housing supply.
As well as added benefits to the construction sector, the government could look to create housing supply that compliments the payments being offered to renters. 
ELIZA OWEN is the Head of Research Australia at CoreLogic
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New fiscal policies shift outlook for rental housing: Eliza Owen

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EXPERT OBSERVER
Observed impacts of climate change on housing markets may once have been confined to areas known for extreme weather. But as Australian summers get hotter and longer, the challenges of climate change are manifesting in the property market in previously unexpected and specific ways.
Rising temperatures are proving a disruptive force to town planning, creating affordability pressures and increasing insurance costs.
Western Sydney is undergoing unprecedented development and transformation, reflecting the vast size and population growth of the region.
However, Western Sydney is also getting hotter.
Data from the Australian Bureau of Meteorology shows the mean of maximum daily temperatures each month is rising.
Climate projections reported by the Australia institute projected that by 2030, Penrith could see 22 days of the year where temperatures surpass 35 ̊C. Meanwhile, the eastern suburbs of Sydney are expected to remain relatively cool, with just 7 of these days projected in Coogee.
Reducing thermal discomfort is an increasing focus for urban planners. Water technologies, tree canopy and the use of cool materials are demonstrably effective.
But some of these heat management methods don't mix well with the development in Western Sydney.
The construction of the Western Sydney airport for example, will require some level of mitigation for bird and bat strike, including limiting the amount of trees within a certain radius of the airport.
These complexities increase the challenge that rising temperatures place on the ambitious developments for Western Sydney.
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ELIZA OWEN is the Head of Australian Research at CoreLogic
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Cooling Western Sydney has become a major planning focus: Eliza Owen

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EXPERT OBSERVER
The narrative of over-supply and under-performance in Brisbane units has dominated conversations around south-east Queensland property for almost 5 years.
At January 2020, Brisbane unit values remain 11.5% below their 2010 peak to be at similar levels to 2007. But the latest data on property values, construction and population growth suggest that the story is changing. It is worth noting that over-supply is very much a unit-centric story. H
ouses across Brisbane have actually seen quite strong capital growth returns in the past few years, except for a brief, cyclical downturn over part of 2019. In the previous trough-to-trough cycle that lasted between 2012 and 2019, annual house value growth outperformed unit growth by an average of 290 basis points.
This is larger than usual discrepancies, and is above the series average difference of 130 basis points. In other words, the past cycle saw units significantly ‘under-perform’ relative to housing stock in Brisbane. The rolling annual growth figure shows that unit values have largely declined since July 2016
2016 was a time when units were being built across Brisbane at an unprecedented level. ABS completion data suggests 21,342 units were completed, against a historic average of 11,585 per year. In the December 2016 quarter, the number of unit completions even eclipsed the number of houses delivered across the state.
It is difficult to understand the exact impact this supply has on the Brisbane unit market, given that ABS completions data is currently unavailable beyond a state level on a quarterly basis. However, cross-referencing the approvals dataset with the ABS data by region series, suggests about 75% of state-wide unit construction was centred within the Greater Brisbane metropolitan region.
The time series suggests that the lag between approvals and completions varies from about 1-2 years.
Since 2015, unit approvals have been moderating in response to subdued capital growth performance. The latest quarter of data shows approvals are 46% below the decade average of approvals. This means the delivery of new units across Queensland is likely to be subdued over 2020.
CoreLogic project data suggests unit completions across Brisbane over 2020 will average about 4,000 per quarter, reflecting the long-term average. But supply is only one side of the story. Looking at how population growth has tracked relative to unit completions brings further clarity to value declines in units over 2016.
The figure below shows ‘housing demand’ relative to completions across Queensland. Housing demand represents the number of dwellings needed to accommodate additions to population at each quarter, divided by household density of 2.6. The housing demand is presented as a rolling annual average.
Future housing demand is also estimated based on the Queensland government ‘median’ scenario of population projections, suggesting about 8,000 dwellings are required to house the growing population each quarter to June 2021.
<img src="https://www.urban.com.au/images/2020/2/20/Brisbane%20Oversupply.JPG" alt="">
There has been a convergence between the number of dwellings required and supplied since the start of 2018. With approvals data suggesting a decline in construction, and steady estimates of population growth, Queensland dwellings may fall into undersupply in the year ahead.
Rental yields are also well above the capital city average at 5.3% gross, meaning there could also soon be a turning point in investor demand. However, one unknown in this analysis would be projects that have stalled due to falling unit values in the past few years. If these re-commence, added supply could once again weigh down growth.
The turnaround in the supply-demand dynamic is already being seen in unit values. Since bottoming out in June 2019, CoreLogic indices show the Brisbane unit market has recovered 2.2%.
This fits in with a more broad-based recovery, as reductions in the cash rate have reduced the cost of servicing debt, and increased incentive to purchase property.
ELIZA OWEN is the Head of Research for Australia at CoreLogic
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Is Brisbane still oversupplied? CoreLogic's Eliza Owen

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EXPERT OBSERVATION
Both the new project space and projects moving into construction saw a strong surge in the month of April.
There were 1,827 new projects captured by CoreLogic in April, up 7% from the previous month.
The combined value of these new projects were $14.8 billion, up 14% from the previous month.
Unlike the trend towards civil engineering that has played out in the previous 12 months, the increased value of development applications was largely due to strong increases in mining and industrial real estate.
The highest value application captured over April was the $3 billion Northern Gas Pipeline expansion in Western Australia.
<a href="https://www.propertyobserver.com.au/images/2018/5/22/1%20.jpg" target="_blank">Click here </a>to enlarge:
<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/2018/5/22/1%20.jpg" alt="">
 
<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/2018/5/22/2.jpg" alt="">
Moving into construction - Australia
There was a strong rebound in the number of projects moving into construction, which has been relatively subdued over the irst quarter of 2017. There were 1,090 projects moving into construction over April, representing an 83% increase on the previous month. There was a 64% increase in the value of projects moving into construction over the month, as $7.2 billion worth of work commenced in April.
<a href="https://www.propertyobserver.com.au/images/2018/5/22/3.jpg" target="_blank">Click here</a> to enlarge:
<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/2018/5/22/3.jpg" alt="">
 
<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/2018/5/22/4.jpg" alt="">
NSW
Nationally, April saw a pivot in the nature of construction across Australia, with a higher emphasis on industrial and mining applications. Meanwhile, New South Wales, in particular Sydney, continues to see a buzz of residential and accommodation activity. Major site activity includes the following:
• A site at Sarah Street in Mascot, close to Sydney Airport and with approval for hotel, has been purchased by a private hotel developer and operator. The site approval was for a hotel up to 9 stories, and 169 rooms. It currently supports two adjoining oice/warehouse buildings.
• Chinese-backed Adelaide-based developer Greaton has snapped up a site in Sydney’s Haymarket with the likelihood of constructing an apartment tower. The site is close to Greaton’s ‘The Ribbon’ hotel development at Darling Harbour, which is due for completion in 2020.
• Desane Group Holdings has purchased a 50-apartment, masterplan-approved site in Leichhardt. The original masterplan was approved together with adjacent Chinese developer Changfa’s 139-unit Epicure Collection project.
The Premier has given the inal sign-of for the relocation of the Powerhouse Museum from Sydney to Parramatta through the state cabinet. The site was identiied on the banks of the Parramatta River at the former David Jones Car Park site.
Newcastle’s iconic The Store site in Hunter Street will be redeveloped by Doma Group. The $200 million proposal comprises construction of a 13,000 sqm oice tower and two residential towers. The oice tower will be anchored by Government Property (9,000 sqm) for multiple NSW agencies. The oice tower will be built together with a bus interchange and car park. The residential towers will have 1,000 sqm podium retail space.
ACT
The Barr government has postponed a 2016 election pledge for a new community-driven master plan for the Manuka Oval precinct until at least the start of next year. Concerns have grown about a potential major development next to the oval. In the lead up to the 2016 election, the Barr Government claimed it would establish a panel made up of community representatives to help guide development in the area, following a failed bid by GWS and Grocon. However, the government has since shelved the plans, to be revisited once its planned multimillion-dollar media centre is built, which is not expected to be complete until January 2019.
A development application has been submitted for the irst stage Art Group’s SOHO project which will replace public housing in Northbourne Avenue, Dickson. The $92 million irst stage will comprise 409 apartments across six buildings of 7-9 storeys. The site was previously home to the Dickson Towers and Karuah public housing blocks. The overall development will comprise around 1,000 apartments in ive stages.
VIC
The Victorian Government handed down the state budget on the 1st of May. Education was the centre of the budget, with $1.25 billion committed to school upgrades over the coming inancial year, on top of $2 billion proposed in the year just gone. Transport spending in the budget includes over $3 billion on road upgrades, most of which is allocated to the metropolitan.
$31.6 million was allocated in the budget for the redevelopment of Melbourne’s Australian Centre for Moving Image. The project is valued at $40 million overall, and will see the ACMI’s permanent exhibition upgraded as well as an expansion of the learning centre.
$461 million has been allocated through the budget for the redevelopment of Ballarat Base Hospital. The rebuild and refurbishment will create a new emergency department, modernized acute mental health facility, an intensive care unit, a women’s and children hub, an expanded critical care ‘hot loor’ and at least an extra 100 in-patient beds. The facility will see at least 18,000 more emergency patients and an extra 14,500 in-patients each year following the upgrade.
Also in the Central Coast area, Paul Lederer has withdrawn the development application for the multi-million Gosford Alive project. The Conybeare Morrison-designed project, comprised of 1,414 apartments and townhouses, was pulled due to planning delays. The delays were partly attributed to the merger of the former Gosford and Wyong councils into a consolidated Central Coast Council, and a State Government planning review for the Gosford CBD. However, the developer hopes to re-start the project at a later date.
Tenders have been invited for the $180 million West End lifestyle and retail precinct in West Melbourne. The proposal outlines 377 residential apartments over 4 buildings, each ranging from 7 to 14 levels. It will also include a 7 storey hotel, with 92 serviced apartments and ground loor retail spaces. Each building has had its own interior designer working with Chief Architectural irm CHT Architects. The buildings and designers for each are:
• The Adderley by Carr Design • Mail House by Mim Design, • The Foundry by Six Degrees • The Spencer by Hecker Guthrie
Pound Road West, in Dandenong South, will see major upgrades to reduce congestion and travel time for commuters. This is a part of the Suburban Roads Upgrade package that aims to improve 22 key suburban arterials. 2 km of Pound Road West and Remington Drive will be duplicated, creating two extra lanes between Abbotts Road and South Gippsland Highway. A new bridge will also be constructed over the Cranbourne Rail Line. The project will include traic lights and safety upgrades.
QLD
Development approval has been granted for the Midtown Centre, a multi-million proposal in Brisbane’s CBD. The project involves redevelopment of two former government buildings into a single 26 storey oice tower with podium levels to accommodate cafes, restaurants and bars. Ashe Morgan and DMann Corporation will transform the two buildings with expansive campus-style loorplates with opportunities for large format tenants to occupy. The centre is expected to be completed by mid-2020.
Developer R&amp;F has unveiled plans to develop an amended proposal for a multi-million dollar mixed use precinct in Brisbane’s West End, which has previous masterplan approval for seven buildings and a total of 981 apartments. The project, to be staged over six years, will transform the former industrial riverside sites into an integrated urban precinct with publicly accessible open spaces, leading down to a riverside walkway.
PDS Group has submitted a development application for a 715 unit, 13 stage development in Mango Hill, designed by Ellivo Architects. The project will comprise 13, six-storey towers with extensive open space. The development will include exercise areas, a dog friendly zone and surrounding spaces for passive recreation, formal park area and seating areas with playground and barbecue facilities.
Gold Coast City Council has granted approval for EG Fund Management’s 55 and 71 storey, twin tower Wanderlust development in Surfers Paradise. The Elenburg Fraser designed towers will contain 500 residential units, 270 serviced apartments and 400 hotel rooms. The development will be located in the heart of the nightclub and entertainment district, billed as an ‘entertainment hub for south-east Asia’. Facilities will include a 4,733 sqm pool club with two main pools, 2,727 sqm of restaurants, and recreation areas such as rock climbing facilities and an outdoor cinema.
Approval has been granted by Brisbane City Council for Morris Property Group’s A grade, 28 storey commercial tower in Spring Hill. The commercial option was submitted following a previous proposal for a 30 storey, 197-apartment tower, owing to a perceived shift in Brisbane's property market favouring commercial over residential. Designed by Nra-Co-Lab, the design incorporates LED vertical strip lighting over entire length of building facade.
NT
Acting Minister for Tourism and Culture, Eva Lawler, has now opened an Expression of Interest process for a nationally representative Reference Group. The group will help guide the delivery of the National Aboriginal Art Gallery in Alice Springs. The role of the Reference Group will be to promote and inform the project.
Local company Sitzler has been awarded the contract for the new $30 million, 24-hour Palmerston Police Station and Watch House with construction to commence next month and completion expected by mid-2019.
The Northern Territory Government has committed to improving housing in remote communities with the 10 year, $1.1 billion Remote Housing Program. This investment has a focus on local decision making, engagement and planning with communities to identify their housing needs. The project would ideally help to create sustainable, local employment and training, help develop Aboriginal businesses and encourage economic development. The investment is funded through four programs: Homebuild NT; Room to Breathe; Repairs and Maintenance; and Government Employee Housing.
SA
Work is expected to commence on the Gawler Electriication project from Adelaide to Salisbury in the third quarter of 2018. Lendlease was appointed as contractor for design and construct in January this year, and design works have commenced.
The federal government’s Naval Shipbuilding College is now set to go ahead, following the appointment of a joint venture between KBR and Huntington Ingalls Industries (HII). The joint venture, known as the Naval Shipbuilding Institute (NSI) beat a bid from Babcock. Based in Osborne, NSI will establish and manage the college, partnering with ten educational organisations including TAFE SA, with Lendlease as managing contractor. It will operate under a "hub-and-spoke" model, with the college referring potential trainees to various universities or training colleges throughout Australia.
Community consultation is underway for redevelopment of Adelaide’s old Le Cornu site at 88 O’Connell Street, which has been vacant for decades. The City of Adelaide has oicially purchased the land and invited the public onto the site earlier this month for a community block party following inal removal of the fence.
Lyon Group's Riverland Solar Storage project has gained development approval. The 330 MW solar farm will comprise solar tracking arrays of photo-voltaic panels, mounted on steel frames. 400 MW of battery storage (ie 100 MW x 4 hours) is also included in the development, comprising lithium-ion polymer batteries, housed in a secure and climate controlled building.
TAS
Biomar Australia has submitted a development application for a $56 million state-of-the-art aqua feed production facility at Wesley Vale in Tasmania’s north. The former particle board manufacturing site will be converted into an aquaculture feed mill facility to include administration/ plant oices/lab &amp; amenities, bio ilter, dosing silos, mixing/ intake building, processing building, packing area and workshop/store. The processing facility will have a capacity of 110,000 tonnes per annum of inished product.
Meanwhile in Westbury, Wiley &amp; Co has started construction on Ridley Corporation’s $50 million aqua feed mill facility. The mill will produce around 50,000 tonnes of feed per year and will utilise the input of 250 local contractors during construction and when complete will source many local agricultural products.
Early works have started on Goldwind Australia’s 144MW Cattle Hill Wind Farm, with Hazell Bros engaged to undertake the site access construction. The wind farm will comprise approximately 48 turbines and is expected to be completed by the end of 2019.
WA
Documentation is in progress with Aerodrome Management Services for the expansion of Jandakot Airport. The project will see the construction of taxi-ways, and the extension of runways through the clearing of 41 hectares of vegetation.
Selected tenders have been invited for Parallel Riverfront in Rivervale. Laudis Developments are proposing the $40 million project, with construction of a 13-storey residential development within The Springs Special Development Area. The proposal outlines 123 dwellings and four levels of basement car parking. Designed by Hillam Architects, the building will see features such as dramatic zig-zag cantilevers around each balcony, a podium base with pool deck, a tower section and a café on the ground loor. Tenders close mid may for the appointment of a builder.
A structure plan has been completed for the expansion of Armadale City Centre with approvals to follow late 2018 or early 2019. Works proposed include:
• Extending the Armadale to Byford passenger rail line as a part of the State Government’s Metronet program;
• Grade-separation of the railway line to facilitate Church Avenue;
• To move the Armadale Train Station underground; and,
• To create a City Centre plaza linking Jull Street Mall to the West of Rail Precinct.
A second stage of works to follow will include the Civic Precinct redevelopment, including high quality oice space to accommodate Government services and private business. The development will also include creation of a green and high quality public realm. Developments on the City Centre are expected to commence by 2020.
Construction has commenced on Rottnest Island for Pinky’s Eco Retreat &amp; Beach Club. Builders appointed, in joint venture, are Discovery Holiday Parks and Baileys Marine Fuels Australia. The $20 million project will consist of 83 eco-tents with ensuite pods. The tents will be connected via elevated walkways to Pinky’s Beach Club complex. The complex will be complete with a swimming pool, an alfresco bar and dining areas. Construction is expected to be completed by the end of 2018.
Mining
Construction has commenced on Iluka Resources’ $250 million Cataby mineral sand mine located in Cataby, Western Australia. The project will consist of 13 open pits over approximately 25 km, and will produce approximately 460 to 780 kilo-tonnes of heavy mineral concentrat per annum when completed. Production is expected to commence in the second quarter of 2019.
GR Engineering has been selected as the preferred contractor to design and construct a $90 million processing plant for Capricorn Metal’s Karlawinda gold project, to be located 65 km south-east of Newman. The scope of the contract will involve engineering, procurement and construction of a 3 million tonne-per-annum processing plant, and associated processing infrastructure at the proposed mine site.
Eliza Owen is Commerical Property Research Analyst at ‎CoreLogic.
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Nature of construction pivots across Australia: CoreLogic's Eliza Owen

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Large scale infrastructure is inflating activity taking place across the construction industry according to the CoreLogic October Construction Monthly report.  
CoreLogic captured 2,018 development applications and proposals flowing into the construction pipeline across Australia in the month of September.
While 15.4% lower than the number of development applications captured in the previous month, it is above the five year average of 1,775.  
The total value of development applications was $11.2 billion over the month.
Again, this construction value is above the 5 year average of AU$9.3 billion, and was partially driven by the development proposal for a component of the Cross River Rail Line in Brisbane, a project which was first reported by CoreLogic in 2002.  
The Cross River Rail project reached a milestone, following Deputy Premier Jackie Trad's announcement that 5.9 km of tunnelling, four new underground stations and associated work, will be carried out under a pubic private partnership.
(Note: Tenders were called for a $2.5 million tunnel, stations and development package as of the 22nd of September)  
This is the third consecutive month where the value of construction work entering the pipeline has been inflated by a large civil engineering project.
While development applications remain buoyant, CoreLogic captured just 658 projects moving into the construction stages in September. This is far lower than the 5 year average of 1,041 projects per month, and is 27.9% less than moved into construction in the previous month.  
The combined value of projects that moved into construction over September fell by 36.8% on the previous month, to AU$3.5 billion. While all segments outside of commercial building saw a decline, the largest by far was in civil engineering. The value of civil engineering projects commencing was $722 million, down from $1 billion in the previous month.  
While far fewer projects are currently moving into construction, the resilience of the pipeline may see higher levels of construction commencing over the next 6-12 months.
CoreLogic commercial research analyst <a href="https://www.propertyobserver.com.au/https://www.corelogic.com.au/taxonomy/term/56" target="_blank">Eliza Owen</a>.
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Queensland state government joins east coast push for infrastructure 

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With negative growth easing, is it time to get confident in Perth’s office market?
The latest national accounts data indicates that the Western Australian economy is on the rebound. Each quarter, the ABS releases state final demand (SFD) data alongside national GDP figures. SFD is the value of goods and services sold to the public sector, private sector and households in a state. 
In seasonally adjusted, chain volume measures, annual growth in private demand in Western Australia eased for the first time since September 2015. While still negative at -10%, the growth rate is higher than the annual growth rate in March (-10.7%). Coupled with a ramp up in public expenditure, growth rates of domestic demand in Western Australia are starting to lift. 
This could be good news for the commercial real estate sector. Perth CBD office market vacancy fell for the first time in 5 years, according to the Property Council Australian Office Market Report, released by the Property Council of Australia (PCA) in July 2017. 
The portion of vacant, available office space in Perth fell by 1.4 percentage points in the 6 months to July 2017. The PCA also reported net CBD office demand in Perth increased by over 20,000 m2 in this period. This demand increase is three times the historic average. It suggests that tightening vacancy rates in Perth can be attributed to local business expansion, or businesses being drawn to the city.
However, Perth still has the highest office vacancy rate at 21.1%, up from around 1% vacancy ten years ago. Australian CBD office vacancy is less than half the current Perth rate, at 10.2%. The end of a ‘one in one-hundred year’ mining boom, cemented by negative demand shock from China, drastically reduced demand for office space in the Perth CBD. This is because the demand shock bled into secondary and tertiary industries across the state.
In the current, uncertain economic environment globally, it is difficult to anticipate future demand shocks. Is it really time to get confident in Perth’s office market?  Looking closely at the private sector SFD figures, there are some areas of demand on the rise. Cultivated biological resources (a technical term for things like beef, cheese and wine) increased 4%, and expenditure on intellectual property products was up 2%. 
Commodity values partially recovered over the past 12 months. Iron Ore, which in 2016 accounted for 57% of the value of commodity sales, has rebounded approximately 22% in value in the year to September 2017, despite heavy falls last week. 
Perhaps the most important, highly correlated statistic with office demand is employment growth. According to last week’s labour force data, the seasonally adjusted unemployment rate in Western Australia rose 0.4 percentage points over the month to 5.9% in August, despite following a downward trajectory over the last 12 months. The participation rate was up 0.3%, and the number of people employed remained largely unchanged, suggesting part of the rise in unemployment may have been the result of unemployed people entering the labour force.  The latest dataset reveals a loss in some full time jobs also contributed to a higher unemployment rate. 
Importantly, Western Australia has seen a rapid rise in full time jobs over the year to August. The latest ABS seasonally adjusted employment figures show full time employment was up 4% in the last 12 months. This compares to annual full time employment growth of 3.1% across Australia. Full time employment signals a willingness of businesses to invest more in people – including the investment of work space. Assuming the global economic environment remains stable enough to nurture private investment, the next six months could see further office demand across Perth.
This article was written by Eliza Owen, researcher at <a href="https://www.corelogic.com.au/news/it-time-get-confident-perths-office-market#.WddLPBOCxo5" target="_blank">CoreLogic</a>.   
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Is it time to get confident in Perth’s office market?

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Joel Robinson

Elevated amenity anchors daily life at Aeris, Melrose Park

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.

<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/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

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."

[smartcode_project:default project_id=135096 project_image_fid=351104]

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.

[smartcode_project_cta:default project_id=135096]

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.

[smartcode_project:default project_id=102717 project_image_fid=355297]

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.

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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."

[smartcode_project_cta:default project_id=5743]

Eliza Owen

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