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GUEST OBSERVER
In a market where high numbers of stock exist upgraders will often opt to place an offer subject to the successful sale of their existing property, however this process needs to be considered carefully to avoid wasted time and disappointment.
Invariably, when a subject sale is negotiated, the sellers will include a clause allowing them to continue marketing their property to other buyers with a proviso that the subject buyers be given a period of time to go unconditional (usually 48 hours) after which the new offer is accepted.
To avoid this situation upgraders should consider getting their existing property sold or at least under offer prior to placing an offer on another home and perhaps ask for a longer settlement period to enable everything to come together.
The other problem with making subject to sale offers is that they don’t excite a seller as much as being presented with a cash or a subject to finance offer because the latter comes with a predictable settlement date and hence there is more scope for negotiation. 
If an upgrader does decide to place a subject to sale offer then they should also try to negotiate a period whereby the property cannot be sold from under them if or when another buyer comes onto the scene.
Geoff Baldwin is chairman of the  Certified Practicing Real Estate Agents and can be contacted <a href="https://www.CPREA.com.au" target="_blank">here</a>. 
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Tread warily with ‘subject to’ offers: Geoff Baldwin

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There is no argument that the market has slowed since Christmas however this can be wonderful news for people looking to sell their current property to upgrade to a bigger and better home.
Right now there are approximately 14,000 properties on the market which is around 40% more than this time last year so upgraders do have a larger selection to choose from however many a worried that they won’t achieve a good price for their current property.
The brutal truth is that an upgrader may need to accept less on their current property but there is little doubt they will enjoy a parallel discount on the one they buy and this is when the sums really add up in their favour.
In an example where 12 months ago, a person was selling a $500,000 property to upgrade to one worth $800,000, the gap was $300,000. Today, in the slower market, although they may have to take $480,000 for their existing home they are now more likely to buy that $800,000 home for $760,000 reducing the gap to $280,000 and saving them $20,000.
It’s also very relevant that when the market slows the dearer properties are hit hardest while the cheaper homes, up to around $600,000 continue to sell readily as that is where the buyers are most prevalent.
The secret is to not look at selling and buying in isolation but to instead consider the whole changeover package and by doing so it can often be found that selling to upgrade in a slower market is an advantage rather than a disadvantage.
Geoff Baldwin is managing director of <a href="https://www.remaxwa.com.au/" target="_blank">RE/MAX Western Australia</a>.
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Slower Perth market creates opportunity for upgraders: Geoff Baldwin

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Demand for suburban blocks that are zoned for development has risen significantly and owners of these sites should choose their marketing method very carefully or risk underselling.
We are repeatedly seeing owners of potential development blocks being approached directly  by builders and developers with offers to buy their properties. However, in many cases the prices being offered are substantially lower than what they would receive with a professional and targeted marketing campaign.
Often these properties are owned by elderly people who have lived in them for decades and hence they have little concept of the true value so when they are approached with what looks like being a trouble free sale they are trapped into selling cheaply.
Owners of properties in any area that is popular with developers should seek indications of their likely sale price through local agents who have a proven record of achieving good prices for sellers and who have a thorough understanding of how to pitch the property to ensure maximum exposure.
These sites are now in high demand and although developers won’t overpay, it is important that an agent knows how to create competition and hopefully attract multiple offers to ensure the best result is achieved for the seller.
 
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 Geoff Baldwin is managing director at <a target="_blank" href="https://www.remaxwa.com.au/" rel="nofollow">RE/MAX WA</a>.
 
 
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Demand for development zone housing is creating a risk of underselling for the unwary: Geoff Baldwin

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Perth should batten down for the perfect storm in our real estate market to correspond with the beginning of spring.
Strong rental returns and demand, record low interest rates, competitive prices, positive and neutrally geared opportunities and increasing stock levels all point to a window of opportunity for prudent investors.
Going back three or four years it was almost impossible to find a property where the rent would cover the mortgage however these positive and neutrally geared opportunities exist in many areas of Perth and also in some regional areas such as Mandurah and Bunbury.
Spring is predicted to be the start of a significant increase in activity that will bring upward pressure onto prices and a significant return to the market by investors so now is the time to act to take advantage of this window as it will not remain open for a long period.
Most people who have owned their own home for a few years will have enough equity to purchase an investment property without having to put in any cash themselves plus, working with an experienced agent they should be able to identify and purchase an investment property that will cover most if not all its own costs.
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Geoff Baldwin is managing director at <a target="_blank" href="https://www.remaxwa.com.au/" rel="nofollow">RE/MAX WA</a>.
 
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A perfect spring storm is brewing for Perth's real estate market: Geoff Baldwin

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After a period where the number of property listings being offered for sale has been at its lowest level for decades, the past month has seen some strong signs of stock levels increasing for the first time in two years.
Since early 2011 when there were around 19,000 properties for sale we have seen this number drop to only around 7,000. However in July, the number of properties being listed throughout our group increased by around 30% compared to recent monthly averages.
This sudden increase in listings coming onto the market has not been at the cost of sale numbers which have remained fairly strong throughout winter, so it can only be put down to record low interest rates and people seeing a brighter light at the end of the election tunnel.
Seller confidence has been at an all time low through the longer than normal election lead up and this coupled with constant talk of the mining sector softening and a general hesitance about debt, have all combined to convince prospective sellers to wait and see.
The general consensus is that activity will increase markedly after the election next month and, with the normal spring bounce, it seems that sellers are recognising that now may be their best time to sell and to get into their next property before the price gap begins to widen.
Although we are seeing more stock coming onto the market we believe this increase will be absorbed by a lift in buyer activity between now and Christmas and that there will be upward pressure on prices.
 
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Geoff Baldwin is managing director at <a target="_blank" href="https://www.remaxwa.com.au/" rel="nofollow">RE/MAX WA</a>.
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Low interest rates and the end of the election contributing to strong winter sales: Geoff Baldwin

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The increasing use of “from” pricing or “offers over” pricing is pushing the limits of trades practices laws. This may be considered  misleading advertising and so should be avoided.
This strategy that has become popular in recent years whereby the seller sets a price low enough to attract buyers with the intention of working those buyers up to a higher price.
Personally, I am very uncomfortable with this method as it often borders on being “bait” advertising and I advise sellers to avoid it and to instead consider a fairer strategy.
Also, if the seller will not accept the lower “from” price then legislation depicts this as being a breach of trade practice law in that it is seen as misleading and deceptive advertising.
The best way to turn a buyer off is to upset them the moment they ask about the true price expectation by telling them it’s advertised at ‘X’ but the sellers won’t accept below ‘Y’.
So unless a seller is genuinely willing to accept the advertised price, then using the “from” or “offers over” pricing strategy should definitely be avoided.
There is no argument that placing a fixed price on a property is difficult as every buyer will have a different opinion so people should consider marketing a wide “buyer feedback range” surrounding their expectation.
Buyer feedback ranging, as it suggests, invites feedback from all interested parties and is considered fairer to buyer and seller and has been used successfully, particularly in Western Australia for years.
The records show that most properties tend to sell in the middle of the range however buyer traffic to these listings is around three times that of fixed price listings.
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The use of 'from' pricing or 'offers over' is pushing trade practice laws: Geoff Baldwin

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Records show that most new property investors tend to be influenced by the masses buying at or near to the top of each cycle, but the minority who reap the biggest rewards have purchased and settled long before the upward trend sets in.
It’s an unfortunate fact that most people need to see evidence of something happening before they are willing to invest their money and hence they wait for the market to boom before they buy.
A smarter way to approach property investment is to study the historic economic cycles as they relate to property, as this has proven to be a failsafe guide for investors for over 100 years.
Although this last cycle has been longer than usual due mainly to the Global Financial Crisis, it has been a cycle all the same, comprising the boom years of 2007-2008 followed by rising interest rates, an easing of activity and prices, a lull in the market through to 2012 then falling interest rates, rental stock shortages, rising rents and a significant bounce in buyer activity into 2013.
Since the beginning of this year we have seen stock levels plummet in WA to a 10-year low of around 6,000 properties, sales volume is way up and we are seeing more and more examples of multiple offers on properties with many properties selling above price expectation.
For investors wanting to take full benefit from this upswing, now is the time to be entering the market and securing property before investing again becomes the fashionable thing to do.
Most people 30 or over have, at some stage wished they had purchased a property at yesterday’s prices but right now a window of opportunity is wide open for investors to take action so they can look back happily with some nice capital appreciation and a healthy nest egg for the future.
Geoff Baldwin is managing director at <a target="_blank" href="https://www.remaxwa.com.au/" rel="nofollow">RE/MAX WA</a>.
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Smart investors buy property before the upswing: Geoff Baldwin

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While most other Australian states continue to experience a real estate lull, the WA market has bounced back strongly to the point where it is hard to argue the case for another interest rate cut.
I know there are many people who would argue with me on this point, but if real estate sales in the rest of the country were as strong as they are here in WA currently I’m sure the Reserve Bank board would not be considering dropping rates.
Of course, there are other sectors of our WA economy, especially retail, that do continue to need assistance to boost trade. However, the last thing we need in WA is for our real estate market to overheat.  
The sub-$600,000 segment of the WA market has been strengthening for some time fired up by latent first-home buyer demand and this activity is now beginning to feed through to the higher prices as people upgrade to second and third homes.  
Obviously, a strong property market is always a good thing, but a short term boom fertilised by “irresistible” interest rates can only result in another long period of stagnation such as the 2008 to 2012 down market.
History shows that when the property market is down, everything is down because when people see their home value affected they lose confidence and are much less enthusiastic about spending elsewhere so this is another reason to avoid a boom and bust environment here.  
It’s a big call but, because the states can be so different economically there is almost an argument for rates to be adjusted to suit each market rather than a one size fits all approach.
Geoff Baldwin is managing director at <a target="_blank" href="https://www.remaxwa.com.au/">RE/MAX WA</a>.
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Hard to support an interest rate cut in strong WA property market: Geoff Baldwin

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

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

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

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Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

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Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

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Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

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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.

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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;

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The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

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Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

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Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

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

Geoff Baldwin

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