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The Financial System Inquiry recommendations, which include limiting self managed superfunds’ investment in property, have been criticised by the Real Estate Institute of Australia (REIA) who remain unconvinced about the risks.
REIA chief executive Amanda Lynch said they welcome the release of the Inquiry as an opportunity to identify scope for concern, but see a number of recommendations that could burden home borrowers.
“REIA is not convinced that the risks associated with lending through self managed superannuation funds (SMSFs) warrant the recommendations to limit the scope for SMSFs to invest in property,” she said.
“While we have well-documented concerns around the inappropriate marketing of property as part of an SMSF, REIA would be concerned by any move to restrict the possibility for mum and dad investors to secure their retirement through a balanced portfolio which includes property.”
The submission made by the REIA in August to the interim report noted that it is the place of the Inquiry to report on integrity and risks to the financial systems.
At the time, they warned that proposals around prohibiting SMSFs from leveraging into property “could be seen as passing an assessment on what are suitable investments for individuals.”
“Further, it ignores the fact that lending to SMSFs is such a very small part of the financial system that it is inconceivable that it presents a risk to it, even with further growth,” the submitted.
They noted that borrowers already have a number of restrictions, including the use of the property, the arms-length relationship with tenancies, and annual auditor scrutiny.
“To impose a prohibition on borrowing by SMSFs would put a constraint on the maximising of the profits of those funds and thus limit retirement savings,” the submission noted.
In fact, they made these four recommendations instead:
<ol>
<li>That the risk weights for insured loans be reduced. 
</li>
<li>That the current arrangements regarding negative gearing remain unchanged. 
</li>
<li>That a data base be developed to reduce information asymmetries between lenders and borrowers. 
</li>
<li>That the current arrangements regarding leveraging by superannuation funds remain unchanged.</li>
</ol>
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jduke-EHk3XBmHkn

The REIA’s four alternatives to restricting SMSF property investments

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It’s already close to the end of the year, and undoubtedly those looking to sell are getting a little anxious as the market starts to slow.
The seasonal slowdown of the real estate market over this period is just that, seasonal. However, it does mean sellers need to carefully consider their timing.
Certified Practicing Real Estate Agents chairman Geoff Baldwin explains that the Christmas period presents an opportunity for savvy investors to get in while other buyers turn their back on purchasing – but where does this leave our sellers?
"Historically our real estate markets slowdown from early November through mid to late January with the result that keen sellers become considerably more negotiable to the benefit of those few savvy buyers who are active during this period,” said Baldwin.
Stock is also set to increase due to this buyer inactivity, meaning your property will face more competition on the market with fewer buyers looking.
"While sellers who are not under pressure for a result will wait out this short term slowdown it is also not unusual to see others who are keen for a result, to drop their price expectations at this time of year,” he said.
“Sellers who are upgrading understand that they may accept less on their current property but they will also benefit when negotiating their next home.”
If you’re looking to buy and sell quickly, then there is perhaps an opportunity. However, if you can wait it out until 2015, then knuckle down, have a Christmas break from selling your home and get back into the market next year.
Baldwin points to the third week of January as when buying activity starts to heat up again – with 2015’s January to be no different.
{mijopolls 69}
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Should you wait until 2015 to sell your home?

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A new forecasting report from Colliers International has predicted ongoing growth in Sydney, Melbourne and Brisbane through 2015, particularly with investor sentiment expected to remain strong.
Peter Chittenden, Colliers International managing director – residential, explained in the Colliers 2015 Asia Pacific Property Outlook that low interest rates will attract first home buyers and investors.
“The outlook for interest rates is mixed, but headline indicators such as unemployment, construction activity and GDP point to a period of weaker overall economic growth which will result in interest rates remaining steady in the short to medium term,” he said, noting that it will be good news for residential property and will continue demand momentum.
Supportive conditions in 2015 for investment are expected to continue.
“Sydney, Melbourne and Brisbane residential markets will have the strongest residential growth, as weaker economic conditions in Western Australia will lead to a slowdown in development and investment activity in 2015,” said Chittenden.
Meanwhile, developments in central areas, near public transport, work and retail hubs will remain in high demand.
Chittenden expects that infill apartment developments will continue to grow next year, particularly with state and local government infill policies contributing to developers flocking into the CBD and inner suburbs in Brisbane, Sydney and Melbourne.
“This is evident in the volume of new apartments being developed and approved by local councils, and the strong growth in development site values,” he said.
“The Melbourne and Sydney CBDs have been the strongest performing markets, with the volume of apartments under construction in the next five years to reach and 18,000 and 6,000 respectively, buoyed by strong offshore demand, and a rapidly rising inner city population, a trend we anticipate will continue in 2015," said Chittenden.
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Sydney, Melbourne and Brisbane are still cities to watch in 2015: Colliers International

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Everyone wants Christmas to go smoothly – but unit and apartment owners and residents may face a bit of a surprise if they don’t watch their mounting bills.
Archers Body Corporate Management’s partner Grant Mifsud has warned about the price of power over summer as some apartments see bills increase by up to a third.
Bodies corporate would be wise to assess the electricity habits of the building to reduce wastage, according to Mifsud, who said that on a number of levels the body corporate and the residents need to be active to reduce these costs.
“Because all schemes are unique, at the highest level we encourage all our new clients to undertake a full scale energy audit to identify areas to save which might include changing lighting, pumps and timing mechanisms,” he said.
“At a scheme level, bodies corporate should be reviewing the tariff allocation listed on electricity bills to ensure it’s the most effective for the type of scheme and electricity habits. This step alone can save bodies corporate up to 13%.”
He also said bodies corporate should tell the residents how to reduce their individual costs.
Here are four tips for apartment residents and bodies corporate to consider:
<ol>
<li>Adjust timers on common area lighting - as the days get longer, lights can switch on later at night and off earlier in the morning. 
</li>
<li>Review the body corporate’s tariff allocation as detailed on each bill to ensure it is the most efficient tariff for your scheme’s needs. 
</li>
<li>Consider a bulk energy purchase agreement – this is especially effective for large schemes or schemes that have commercial elements with high energy consumption. 
</li>
<li>Talk to an expert consultancy about conducting a full scale energy audit to identify cost saving initiatives to meet your building’s specific needs. Source: Archers Body Corporate Management
</li>
</ol>
 
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Four tips for new unit owners over the Christmas season

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When it comes to owning a rental property, of course there will be some wear and tear from tenants who pay to live in the home and use the facilities.
This is usually an issue that arises at the end of the tenancy when undertaking a thorough inspection.
A certain degree of wear and tear is said to be acceptable – and this is “fair” wear and tear.
Unfortunately, the law doesn’t provide a clear cut explanation as to what fair wear and tear entails. It’s not surprising that landlords will regularly argue what falls under this banner and what instead counts as ‘damage’.
Common sense is a beautiful thing when determining the grey areas of tenancy law.
If what you consider ‘damage’ is an inevitable result of daily living and use, then it is not damage for the purposes of claiming money from your tenant. Things do get scuffed, carpets do fray around the edges, seals and taps and handles do come loose.
Investors must be prepared to expect this type of wear and tear in any property. Similarly, carpets, doors and other items do become worn over time and through exposure to the sun or elements.
You would be unable to claim that a tenant had caused the damage of broken guttering in a hailstorm, however you may be able to claim that they should have let you know of the damage, if it later causes bigger problems from lack of maintenance.
Avoidable damage, such as cigarette burns in the carpet or stains, cracked toilet cisterns, broken mirrors, significant scratches, holes in the walls and similar, would certainly be worth looking at and discussing a claim from the tenant’s bond.
Tenants' Union of ACT explains that 'fair' relates to the cause, while 'wear and tear' is the damage that occurs. Some items may be more difficult to ascertain - such as a wine spill, that occurs in the general and fair use of the area - they note that this would likely not be considered fair wear and tear, while carpet deterioration in high traffic areas would be.
Tenants do have a responsibility to keep the premises clean and to tell of maintenance required when it occurs. It can be argued that if a tenant has not been responsible with these two matters then the wear is greater than it should have been or that damage has occurred. The condition report and photographs taken during regular inspections should assist in these discussions.
Issues around wear and tear should initially be discussed between the tenant and the property manager to come to a mutually acceptable conclusion before taking it to tribunal.
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What is “fair wear and tear” in a rental? Investment terms explained

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It’s common investment talk that to do up a property with a new kitchen or bathroom should reap you thousands of dollars in added value.
However, this might not actually be so, according to Smartline Personal Mortgage Advisers’ executive director Joe Sirianni.
“Minor renovations are more likely to have an impact with a unit,” Sirianni said.
“But with a house, superficial renovations may make a property more saleable, not necessarily produce a greater value – particularly given that in Australia a large proportion of a property’s value is in the land.”
In fact, in many cases superficial renovations have the potential to result in a slight increase in purchase price, and perhaps more buyers, but usually attracts the people who are already looking.
“It’s not the new floorboards, a new kitchen or a renovated bathroom that will have the banks’ valuers applying additional value to a property,” said Sirianni.
Structural improvements, however, do have the potential to have an impact on a valuation.
This could include adding bathrooms or bedrooms, and possibly adding a new garage.
For home buyers who are looking to undertake “non structural” renovations, then the bank often lends without a new valuation.
“People who improve the look of a home with non-structural renovations generally don’t understand that’s all they have done – that is, take away the run-down look of the property,” Sirianni said.
“They haven’t added bedrooms, bathrooms, a garage or anything that will put it into a new category for buyers.”
As a result, it’s usually looked at in the same way by valuers.
“It’s acknowledged that you spent, say, $50,000 on it, but they know that you’re very unlikely to get more than your $50,000 return on it,” he said.
“Quite often the banks won’t even match the valuation to what you’ve spent unless there’s a big structural improvement.”
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A kitchen or bathroom renovation won’t deliver a windfall: Smartline

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For a period of time it seemed that everyone was expecting the next interest rate movement from the RBA to be a hike.
However five experts surveyed by finder.com.au have now changed their opinion, totalling eight experts expecting an increase.
The latest finder.com.au Reserve Bank Survey has eight leading experts predicting a possible drop next year.
<ol>
<li>Shane Oliver, AMP Capital 
</li>
<li>Scott Pape, Barefoot Investor 
</li>
<li>James Bond, Financial Services Council 
</li>
<li>Noel Whittaker, QUT Business School 
</li>
<li>Bill Evans, Westpac 
</li>
<li>Andrew Wilson, Domain Group 
</li>
<li>Stephen Koukoulas, Market Economics 
</li>
<li>David Scutt, Scutt Partners</li>
</ol>
The first five on this list have only recently altered their opinion on what the RBA is likely to do in 2015.
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The experts who are now predicting a 2015 rate cut

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The property market for houses in Perth has been given a higher risk status in five of a total seven points of measurement from Herron Todd White.
Of the seven points of measurement, the two remaining stable include:
New properties are ‘almost never’ sold at prices exceeding their potential resale value.
The ‘rental vacancy trend’, which, while not exactly for investors, remains at an ‘increasing’ level.
Here are the five indicators that have been upgraded to higher risk status:
<ul>
<li>
Rental vacancy situation - Oversupply of available property relative to demand 
</li>
<li>
Demand for new houses - Soft 
</li>
<li>
Trend in new house construction - Steady 
</li>
<li>
Volume of House Sales - Declining 
</li>
<li>
Stage of Property Cycle - Declining market
</li>
</ul>
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Perth property market has ‘higher risk-rating’ in five of seven indicators: Herron Todd White

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Summer Hill’s Flour Mill development, from EG, includes 300 apartments and terraces in total, with communal gardens and commercial spaces.
At the weekend event, stage one and stage two saw an 85% sellout, with a total of 127 apartments available.
Of the <a href="https://www.summerhillflourmill.com.au" target="_blank">Flour Mill </a>apartments, studios, one, two and three bedrooms were available, while three and four bedroom terraces could also be purchased.
Within the development there will be 12 studios, each at 50 square metres, and from $555,000, with 10 one bedroom apartments at 46 to 52 square metres from $520,000.
The most common option, with 68 available, are the two bedroom apartments from 82 to 90 square metres priced from $770,000. Two bedroom, plus study apartments are priced from $800,000 and span up to 94 square metres, with two bedroom terraces also available from $865,000.
With 15 three bedroom apartments, ranging from 93 to 115 square metres for the apartment and 161 to 175 square metres for the terrace, the prices are from $950,000 and $1,350,000 respectively.
Four bedroom terraces, up to 180 square metres, are priced from $1,375,000.
<img src="/images/2014/12/08/summer%20hill%20dec%208%20two.jpg" alt="">
While interest was seen across all the apartment types it was first home buyers who were purchasing the studios and one bedroom apartments, while terraces with underground parking and two bedroom apartments with parking were popular.
Overall, 65% of the purchasers were owner occupiers, while the remaining 35% will be investor owned.
Development director of EG, Grant Flannigan, said that the development includes contemporised heritage elements.
“The Flour Mill is all about great living, established open spaces and connectivity – a place to live, to work and a place where it’s easy for people to get together,” he said.
Designed by HASSELL, the development will see construction begin on the first of two stages next year, with completion expected in late-2017.
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Summer Hill’s Flour Mill sells 85% of apartments at weekend event

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Last month, the proportion of first home buyers in New South Wales dropped to 1.9% - or less than one in 50 borrowers, according to AFG statistics.
This November figure is the lowest ever level recorded and coincides with drops to historic lows also recorded in Victoria and South Australia. Their first home buyer proportions were recorded at 7.4% for Victoria and 6.3% in South Australia.
Queensland first home buyers have lifted off the lowest levels seen last month, at 4.7%, to a marginally improved 5.2%, while Western Australia’s first home buyers are up to 19.1% from 17.9%.
Investors are still a strong segment, totalling 40.7% of new loans and spanning up to 50.9% in New South Wales. This drops to 39.8% in Victoria and 35.9% in South Australia. In Queensland and Western Australia investors make up 34.5% and 29.8% of the market respectively.
AFG’s general manager of sales and operations Mark Hewitt said that they’ve been highlighting the imbalance in the market since losing the first home buyers grant in a number of areas.
“Last month was the closest to zero we’ve recorded for NSW, and first home buying is well below its long term trend of around 12% to 15% everywhere except in WA,” said Hewitt.
They point to a $10,000 grant available for first home buyers purchasing new properties in WA and $3,000 for established purchasers.
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New South Wales first home buyers now strikingly uncommon

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]

Joel Robinson

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

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

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

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[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.

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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."

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The apartment price gap drawing Sydney buyers west

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

Jennifer Duke

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