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Money Magazine has given loans.com.au the title of the Best Cheapest Home Loan and the Cheapest Flexible Home Loan for non-banks in 2015.
Last year saw loans.com.au take out the Best Cheapest Home Loan award as well, and this year’s broadening of the flexible category to non-banks allowed the lender to compete, explained Kim Cannon, managing director of loans.com.au’s Firstmac.
Dream Home Loan is loans.com.au’s flagship product that took out the awards. It has a 100% offset and free redraw at a rate of 4.48% (comparison 4.50%) to 90% LVR. It also offers a value pack with a $150 conveyancing voucher, financial planning up to $500, property reports and a Loan Tracker service.
“Loans.com.au has seen strong growth in the number of customers who are keen to do their own research to identify the best home loan product for them, and they are more empowered in the application process,” Cannon said.
“They make an informed choice to have more input into the application process by following through on their internet research and applying for their home loan online.”
He said that increasingly borrowers are looking to do their home loan applications online in a paperless process due to working hours, and then fill out necessary forms during lunch hour at a branch.
“A streamlined application with online tools to track each step of the process is far more appealing to smart, busy, borrowers than having to call the bank and check whether the application has progressed, or make an appointment to fit into someone else’s schedule.”
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jduke-EHk3XBmHkn

The lowest cost non-bank loan available for 2015 announced

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In six capital cities across Australia, Herron Todd White has noted that new houses are being sold ‘occasionally’ at higher prices than their potential re-sale value.
Digging deeper, however, are some important results for new property buyers across other markets.
Houses in Queensland’s Gladstone, Mackay and the Gold Coast were given a ‘very frequently’ indicator, while in Gladstone it was noted as being the case ‘almost always’.
Ipswich and Toowoomba were also given a ‘frequently’ rating for both units and houses.
Units in the Gold Coast were given an ‘almost always’ rating, while Mackay was recorded as ‘very frequently’ having the potential to sell for less than they were bought for.
The Month in Review report for December 2014 noted that just two states escaped this factor, with Perth and Canberra given an ‘almost never’ rating.
While none of these have changed from the previous month in October 2014, Perth was given a ‘very frequently’ label for this factor, while for Sydney it was noted that this happened ‘frequently’. All other capitals remained the same.
For units, however, Sydney scored a ‘frequently’ rating, while the other capitals saw no differentiation between houses and units in the overall results.
It was also labelled as frequently in Wollongong and ‘very frequently’ in Newcastle.
Across both Victoria and Tasmania, only Horsham saw a ‘frequently’ mention – this was for both houses and units. Most other areas for units and houses were said to be ‘occcasionally’ seeing this happen.
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New Gladstone houses and Gold Coast units ‘almost always’ purchased for more than potential re-sale

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Sydney’s residential market has experienced substantial growth over the past 12 months and for Western Sydney, in particular, this is expected to continue, according to latest December 2014 report from Herron Todd White.
Considering properties under $1 million, the clear expectation is for growth in the lower priced brackets to continue unabated. Earlier this year, their report signalled that they expected a cooling towards the end of the year if interest rates increased. As no rate increase eventuated, growth has continued.
The main drivers that continue to push the market include high demand, limited stock and low interest rates. Herron Todd White point to local indicators such as long lines at open homes and camp outs to secure land releases in some areas.
They note this has been particularly evident in Sydney’s fringe suburbs, from Camden to Blacktown’s The Ponds – which was <a href="/expert-insights/building/most-successful-masterplanned-project-in-nsw-history-sells-out-the-ponds">yesterday reported as the fastest selling Masterplanned estate in New South Wales history</a>.
Their lower priced areas of note include:
<ul>
<li><a href="/news">Seven Hills</a></li>
<li><a href="/news">Oran Park</a></li>
<li><a href="/news">Gregory Hills</a></li>
<li><a href="/news">Leppington</a></li>
</ul>
The construction of a second Sydney airport at Badgerys Creek, the south-west railway and associated employment are expected to drive demand.
 “The supply of land is controlled by developers and they will continue to monitor supply and demand to ensure the continued success of their estates,” the report notes.
Slightly higher, but worthwhile considerations when looking at $700,000 to $1 million property, include:
<ul>
<li><a href="/news">North Rocks</a></li>
<li><a href="/news">Cherrybrook</a></li>
<li><a href="/news">Castle Hill</a></li>
</ul>
All three of these higher priced areas have been strong performers this year.
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The sub-$1 million Sydney areas expected to perform: Herron Todd White

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Strong demand is behind Byron Bay’s resurgence following a problematic post-GFC environment, according to McGrath Byron Bay’s Nick Dunn.
High demand and tight supply are fuelling price growth in the area, with Dunn noting that the enquiry level from buyers has risen “dramatically” and spells good things for the property market’s future.
“We are seeing multiple prospective buyers interested in a property, which in turn is driving the marketplace,” he said.
Dunn notes that both local buyers and sea changers from Melbourne, Brisbane and Sydney are driving the demand.
The average days on market has dropped to 40 to 45 days, as opposed to 90 to 120 days just a few years prior. Rental returns of up to 5.5% gross yield are available, which may see investors turn to the area soon.
“Property in this market can be neutrally to positively geared, so it can be a set and forget scenario which works well for investors,” Dunn said.
The market may be driven by retirees, as well as by new development – with Unison Projects’ Seacliffs being the recent first residential subdivision in almost 15 years, bring 33 new lots to the market from $485,000.
{mijopolls 68}
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Is the Byron Bay market rebounding?

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When you head to an auction, if you aren’t the top bidder you are, by definition, the ‘underbidder’.
Usually reserved as a term just for the second-highest bidder, the under bidder usually misses out on purchasing the property. It can also refer to all of those who bid below the highest bidder on the day.
Negotiating immediately after auction, if the property is passed in, usually goes straight to the highest bidder first.
It is good practice for a real estate agent to keep the underbidder, and often other bidders, around at the time of these negotiations in case the highest bidder doesn’t end up purchasing the home.
However, being the underbidder isn’t always a bad thing. Any bidder can potentially end up the underbidder on the day – remember, it’s better to be the underbidder than to be the bidder who overpays. Underbidders are those that have ‘tapped out’ when it has gone beyond what they are prepared to pay.
When you don’t want to be the underbidder is when you would have happily paid more for the home, but lack of confidence or a range of other factors came into play impacting your performance at the auction. Sometimes your rival bidder will have more money than you, but this isn’t always the case. <a href="/expert-insights/investing/winning-at-auction-isnt-amount-having-the-most-money-its-about-strategy">James Buyer Advocates’ Kristen Hatt shared a situation</a> with Property Observer earlier this year where the underbidder spent more, later on, for a very similar property.
If you do set out to win, and you don’t want to be the underbidder, then you need to think strategy. Effectively, underbidders and the highest bidder set the pace at the auction and together will drive the price up.
YOU MAY ALSO WANT TO READ
<a href="/expert-insights/buying/six-tips-for-keeping-a-cool-head-at-auction">Six tips for keeping a cool head at auction</a>
<a href="/expert-insights/buying/twelve-tips-for-bidding-at-property-auctions">Twelve tips for bidding at auction</a>
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What is an 'underbidder'? Property investment terms explained

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New South Wales’s fastest selling Masterplanned project, The Ponds, in Sydney’s north-west has now sold out with the last land plot purchased.
The UrbanGrowth NSW and Australand project is a $2 billion community with more than 4,200 home sites – all sold within seven years.
Development director for The Ponds, Jey Mahendra, said that in early 2003 they set a vision for the area that included 80 hectares of bushland and waterways and six kilometres of bicycle and walk ways.
“Eleven years later this vision has been achieved. It is estimated over 12,400 residents will call The Ponds home when the last remaining homes are built in 2015,” said Mahendra.
“A combination of strong leadership, clear project vision, a dedicated team with shared values, community input, combined with cooperative relationships with council, project partners and state government agencies were invaluable in the success of this project,” he said.
The homes will include detached and attached homes, terraces houses and courtyard homes.
Major infrastructure projects and housing saw an investment of over one billion dollars, with general manager, residential NSW for Australand, Nigel Edgar, noting that they had initially expected to finishing selling land and homes in the area in 2016.
“Twelve high profile industry accolades have been awarded including the coveted Urban Development Institute of Australia (UDIA) President’s Award for 2012 for the best project of the year in residential, commercial and retail development,” he said.
They have also received sustainability awards from the UDIA, Housing Industry of Australia and PIA.
“A broad range of purchasers have appreciated the lifestyle that has been created at The Ponds. There is nothing else like it in the North West of Sydney. Buyers who purchased in the early stages of the project have been our best sales force. The consultants involved with this project should be very proud of this thriving and functional community.”
The Ponds falls under the Blacktown City Council area.
Next year will see the completion of Peel Reserve Park, which will add to the outside amenitiess that include BBQ areas, playgrounds and sports facilities. In 2015 two schools, John Palmer Public School and a special school, will be complete, as will the second of two community hubs.
Also yet to open next year will be a retail and shopping centre amenity.
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“Most successful masterplanned project in NSW history” sells out: The Ponds

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The latest Adelaide Bank/REIA Housing Affordability Report for the September quarter has revealed that, unsurprisingly, New South Wales remains the least affordable place to buy.
Based on the loan repayments to percentage of income, it's unsurprising that the ACT manages to score the "most affordable" title on the list - as it has previously.
Adelaide Bank general manager Damian Percy said that the ACT is down 0.4% on its previous quarter.
However, it’s Western Australia that’s attracting attention.
“When compared to the June quarter, Western Australia stands out in two key measures, firstly the greatest improvement in terms of the proportion of income required to meet loan repayments, which fell 0.7 percentage points to 25.9% and as the state with the largest proportion of first home buyers who now comprise 20.7% of the Western Australian owner-occupied market,” he said.
The percentage figure noted below is the percentage if income to loan repayments:
<ul>
<li>
ACT - 19.4% 
</li>
<li>
TAS - 24.4%
</li>
</ul>
Average first home buyer (FHB) home loan decreased by 5.2%. The loan is now at $213,233.
<ul>
<li>
WA - 25.9%
</li>
</ul>
First home buyers totalled 20.7% of WA’s owner occupier market over the quarter, the highest proportion in Australia, and totalled 25.1% of all Australian FHB purchases recorded.
<ul>
<li>
SA - 26.8%
</li>
</ul>
The largest quarterly drop of FHBs was seen in South Australia, perhaps as a result of the end of the grant for established purchases.
<ul>
<li>
NT - 27.2%
</li>
</ul>
Largest increase in loans over this quarter and past year noted.
<ul>
<li>
QLD - 28.1%
</li>
</ul>
While improvements were seen in all the other states – this is an unchanged result for Queensland.
<ul>
<li>
VIC - 31.9%
</li>
</ul>
Victoria accounted for 26.4% of first home buyers across the country in the September quarter.
<ul>
<li>
NSW - 34.5%
</li>
</ul>
In New South Wales the average loan size to first home buyers is up 9.1% compared to the same quarter in 2013. The loan is now at $327,767.
Source: Figures - Adelaide Bank, Commentary - REIWA
The Australian average figure sits at 30.4%, an overall improvement – down 0.5% over the quarter.
The president of the Real Estate Institute of Western Australia David Airey said that the Western Australia situation is a good picture for those looking to avoid housing stress.
He also noted that first home buyers currently have a stamp duty exemption for buying under $430,000.
“This means that home buyers in WA can avoid ‘housing stress’ by remaining under the 30 per cent threshold regarded by economists as the safest benchmark for comfortable living with a balance between income and housing expenditure,” Airey said.
“The moderating house price growth in WA has translated into good news for those wanting to enter the housing market, with 20.7% of WA’s owner-occupied market now made up with first home buyers.”
However, the figure of loans to first home buyers are still low – down over the September quarter compared to a year prior by 8.3%.
Office of State Revenue figures for Western Australia note a jump from 1,535 first home grant payments in September to 1,826 in October.
First home buyers’ median purchase price was $450,000 for metropolitan Perth and $355,000 in the regions.
“This has dropped from a metropolitan peak of $470,700 in June and from a regional peak of $365,000 reached in August,” Airey said.
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Western Australia cements position as first home buyer hotspot: REIWA

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Investors are regularly told to try and get ahead in the property market by picking up on the signs that a change is occurring.
You need to know the norm for the area you are looking at. If it’s fast moving, then you may expect the statistics to swing a little more wildly. For larger areas, any significant changes should be noted carefully. Statistical reliability, and the problematic use of small sample set, is worth understanding. Always seek to know what caused the changes and whether it was as a result of a small number of properties rather than a market trend.
Of course, you will need to dig deeper – many statistics are broad market indicators and do little to help you specifically with individual properties, streets or types of housing, but the broad statistics can help you notice location-related changes first.
Here are seven statistics to keep on your radar to help you look for market movements. Each of these should be used in concert with one another and may lead to further research.
<img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;">Median price changes
A change in the median price can be more indicative of a market change than you might think. While experienced real estate experts regularly lament the use of the median as a change in value, and rightly so, alterations in the median price are certainly not useless information.
In fact, an increase in price in the area may alert you to the possibility that more expensive stock has been built or that the prestige stock in the area is on the move. A lowering of the median price may suggest that cheaper properties have been built or sold, or that first home buyers are moving into the suburb.
Usually, median price changes are available on a month to month basis, however looking for longer term trends in the 12 month, and three, five and 10 year figures can also be revealing.
<ul>
<li>
Read: <a href="/expert-insights/buying/short-term-median-price-data-can-be-interesting-but-more-often-its-confusing-or-misleading">Short-term median price data can be interesting, but more often it's confusing or misleading</a>
</li>
</ul>
<img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;">Rental yield trends
Trends in the rental yield can be an interesting figure to keep a close eye on. If the rental yield is starting to drop, particularly when the median price has remained steady, then you need to question whether tenants are potentially not paying as much for their rentals.
If the rental yield increases, then you might be finding an area where stock is starting to reduce – perhaps due to more owner occupiers buying in – and/or tenant competition is increasing, leaving them paying more rent for the homes. Look at the median rent figures and search listings sites to figure out why the number is changing.
High rental yields may also start to attract investors, so noting how strong the rental yield is relative to other local suburbs can also be a worthwhile exercise.
<ul>
<li>
Read: <a href="/expert-insights/how-to-use-the-rental-yield-statistic">How to use the rental yield statistic</a>
</li>
</ul>
<img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;">Vacancy rate
In line with the rental yield, the vacancy rate of an area is worth watching. This figure, supplied by a number of research houses such as SQM Research, and how it tracks over time can be crucial in understanding rental demand and how new developments affect a market.
Look for seasonal swings and changes, ensure you understand the area’s make up and note that some locations have routine dramatic vacancy rate swings.
<ul>
<li>
Read: <a href="/expert-insights/what-is-a-vacancy-rate-investment-terms-explained">The vacancy rate explained</a>
</li>
</ul>
<img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;">Stock on market
The amount of available stock on market can quickly alert you to whether it is a buyers or a sellers market and whether this has been shifting in recent times.
When there are fewer properties available, particularly when older stock is getting purchased, it’s a sign that the market may be heating up. If this is working in reverse and more stock is coming on the market it may be a sign that buyers have more choice and perhaps that owners are cashing in on their capital gains.
 Excess stock on the market, particularly when they are not moving fast (see Time on market) can be a warning sign, although may mean that deals are available.
<img src="/images/2014/07/04/yellow-five.jpg" alt="" style="float: left;">Time on market
The length of time properties spend on the market waiting to sell is important for a number of reasons. It is a useful quick barometer of potential buyer demand for the homes, but changes can also let you know how long it may take you to sell in the future.
In a hot market this figure usually reduces – it also drops when large new developments launch strong marketing campaigns for quick sales – whereas in a cold, slow-moving market the figure will increase.
<img src="/images/2014/07/04/yellow-six.jpg" alt="" style="float: left;">Vendor discounting
Vendor discounting is the amount that a seller drops their property’s listed price by. Usually represented as a percentage, a strong rate of vendor discounting can identify a cold or cooling market and can also signal a push for owners to move out.
It may suggest that further drops are expected. Similarly, areas with very little vendor discounting – and those that achieve over their listed price – can see the figure indicative of competition, heat in the market and strong sentiment.
A singular property being heavily discounted can often speak more of personal circumstance than market conditions. Be aware of the true cause.
<img src="/images/2014/07/04/yellow-seven.jpg" alt="" style="float: left;">Demographic changes
At the end of the list are the changes in the area’s demographics. This is a far slower indicator, usually gleaned from the latest Census results and from local council data, but is one that should not be overlooked.
Significant changes in the makeup of an area’s population can quickly assist investors in choosing areas that are gentrifying and seeing an increased number of young professionals.
<ul>
<li>
Read: <a href="/expert-insights/investing/how-australias-changing-demographics-are-affecting-the-property-market-for-investors">How Australia's changing demographics are affecting the property market for investors</a>
</li>
</ul>
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Seven statistics to watch to detect market changes

What makes a shopping centre attractive?

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To achieve the first home owners grant there are a number of rules around how long you can live in a property, the type and value of the property and whether or not your partner owns property.
Usually, no one is eligible for the grant if they or their partner have received the grant before. They must also not have owned a property that they have lived in.
However, if you have owned an investment property then in some areas this may be a different story and you may still be eligible for the grant. In many cases, if you held interest in a commercial property investment then this does not affect your ability to obtain a grant either.
When we look at the below scenarios, usually the same applies for the applicants spouse as well.
<h3>ACT</h3>
In the ACT you must “not have previously owned or held a relevant interest in a residential property anywhere in Australia prior to 1 July 2000.”
You must also have not occupied a residential property in which you held a relevant interest on or after 1 July 2000 but before 1 January 2004, nor have occupied a property for a period of at least six months in which you acquired a relevant interest on or after 1 January 2004.
<h3>NSW</h3>
“You or your partner have not previously owned residential property in any form in any State or Territory of Australia.”
<h3>NT</h3>
You must not have owned residential property in Australia prior to 1 July 2000 and not have occupied a residential property in Australia that you or your spouse owned on or after 1 July 2000.
<h3>QLD</h3>
“You or your spouse has not previously owned property in Australia.”
<h3>SA</h3>
You and your partner must not have owned residential property jointly, separately or with some other person before  1 July 2000 anywhere in Australia. And you must not have lived in a property for a continuous period of six months in which you had an interested on or after 1 July 2000.
<h3>TAS</h3>
You must not have owned and occupied a property for more than six months after 1 July 2000.
<h3>WA</h3>
You cannot have owned property anywhere in Australia prior to 1 July 2000. You can not have owned property, and have lived in it, for six continuous months on or after  from 1 July 2000.
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If you buy an investment property, do you lose FHOG eligibility?

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.

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Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

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

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

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The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[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.

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Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

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Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

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Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

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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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