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It’s not just the first time buyers who are eligible for government grants and assistance for purchasing property.
While prospective home owners that have previously owned a property will find themselves needing to jump through more hurdles, there are some available cash grants on the market.
Property Observer notes that not every state and territory has a grant or benefit for property buyers other than first home buyers and they have been omitted where this is the case.
<h3>ACT</h3>
In the ACT, there’s no grant but there is a concession available – the Home Buyer Concession Scheme (HBCS) – that allows those purchasing a brand new home or residential vacant land to have their duty charged at a concessional rate. This was once extended to established properties, but this ended in September 2012.
Currently, this applies to properties until 31 December 2014 with a total gross income threshold of $160,000. The property also counts if it has been “substantially renovated”.
The <a href="https://www.revenue.act.gov.au/home-buyer-assistance/home-buyer-duty-concession/1-July-2014-31-December-2014" target="_blank">ACT Revenue Office</a> also notes that property worth $540,000 or more is not eligible, with land having an upper threshold limit of $292,800.
<h3>NSW</h3>
The New South Wales New Home Grant Scheme is a $5,000 grant that has been available since 1 July 2012.
It applies to new homes, off the plan purchases and vacant land that you can build a home on.
The value of the new home must not be higher than $650,000, or for land, $450,000, to achieve the grant. 
<h3>NT</h3>
Up to $7,000 is available under the Principal Place of Residence Rebate in the Northern Territory. The concession is a stamp duty rebate.
This is only achievable by those purchasing a new home or land to build a home and the property can also have been “substantially renovated”.
<h3>SA</h3>
In South Australia, buyers aged 60 or more who are purchasing or building a new home may be eligible for an $8,500 Seniors Housing Grant. This has been available since 1 July 2014 and is set to continue until 30 June 2016.
A property value upper threshold limit is currently at $450,000.
For those not in their golden years, an Off the plan Stamp Duty Concession is potentially available for those buying a new or substantially refurbished apartment within select areas.  
The partial concession is available until 30 June 2016. You can read the amounts available on the <a href="https://www.revenuesa.sa.gov.au/grants-and-concessions/off-the-plan-concesson" target="_blank">RevenueSA portal.</a>
<h3>VIC</h3>
In Victoria, those purchasing off the plan are eligible for a concession that is deducted from the contract price of the cost of construction or refurbishment.
A concession is also available for those buying house and land packages for the construction of a new house, townhouse, apartment or unit and applies to a single lot development or a multi lot development.
Pensioners are <a href="https://www.sro.vic.gov.au/sro/sronav.nsf/LinkView/8F5F78F86966B677CA2575D0002A87C518E490D796850F8ECA2575C1008187C7" target="_blank">also available for a stamp duty concession</a>.
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jduke-EHk3XBmHkn

Grants for non first timers: Buying new property

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The number of sales listings across the country was steady over the month of November, according to SQM Research.
Overall, the number of unsold properties has decreased by 1.4% year on year and is at a 0% change over the month. In total, there were 363,853 properties on the market in November, compared to 369,057 in the same month last year.
The most significant yearly changes were in Perth, where listings are up 25.9%, and Perth, up 14.7%.
The large figure for Darwin is attributed to the drop in the commodities boom.
In Melbourne, Sydney and Canberra the drops are strongest, at 8.2%, 8.1% and 6.9% respectively.
Over the month, minor changes were recorded in every capital city, with Perth's 2.6% increase the biggest change.
<a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>’s Louis Christopher said is the direction that Perth has taken recently given the downturn in mining, but that Sydney is performing in the opposite direction.
Sydney’s result, said Christopher, is the result of an ongoing strong sales market.
“Overall the east coast market remains strong. We do not believe that the market is slowing down at this stage,” he said.
“This most recent data suggest that while there was a surge in listings in October that quite a lot of that stock was absorbed and sold. In the resources exposed towns such as Perth and Darwin, we think the downturn continues.” 
<img src="/images/2014/12/02/sqm%20dec%203%20one.png" alt="">
Source: SQM Research
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No slowing of the east coast market: SQM Research

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With the Reserve Bank leaving rates on hold for all of 2014, 1300HomeLoan’s managing director John Kolenda says that we can expect them to stay low into 2015.
The last 15 consecutive meetings have resulted in no change to the current record low rate of 2.50%, Kolenda says we can expect this period of stasis to last until “well into” next year.
However, will they drop even further off an already low base?
“I’m sure we’ll see official rates kept at the current level for the foreseeable future with the possibility of the RBA taking its cash rate down if the domestic economy continues to under-perform,” Kolenda said.
“The RBA still has plenty of room to play with and if unemployment remains high and consumer and business sentiment subdued going into the New Year then we may see further easing,” he said.
For a rate cut to happen, Kolenda points to the necessity for an uptick in economic conditions. He said that a weaker Australian dollar also reduces the chance of an uptick.
He’s not the only one who thinks another cut is a potential outcome.
Australian Property Monitors’ <a href="/expert-insights/finance/domain-groups-andrew-wilson-predicts-rba-will-cut-rates-further">Andrew Wilson has noted the chance for one more rate cut</a> in the past two months of Finder’s Reserve Bank Survey, and this month he was <a href="/expert-insights/finance/three-experts-tip-interest-rates-to-fall-further-finder-rba-survey">also joined by Market Economics’ Stephen Koukoulas and David Scutt from Scutt Partners</a> in expecting this outcome.
And <a href="/expert-insights/finance/deutsche-bank-tips-two-rate-cuts-in-2015-as-house-price-growth-eases">Deutsche Bank economists believe that the RBA are actually set to drop by 0.5% of cuts</a> in 2015 to a historic low of 2%.
{mijopolls 67}
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Will interest rates fall further in 2015?

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Mortgage House, a non-bank lender, has been told to stop using an ASIC trademark to sell its product MoneySmart.
MoneySmart is a registered trademark of ASIC and is the name given to ASIC’s consumer and retail investor website.
ASIC suggested that using this brand could have misled borrowers to assume that ASIC had endorsed or approved the product.
<a href="https://www.mortgagehouse.com.au/%20" target="_blank">Mortgage House</a> admitted they had not checked if the name MoneySmart was trademarked. It has now been renamed and corrective advertising on their website has taken place.
An undertaking has been provided to ASIC.
The website’s advertising for the five year fixed home loan now notes that it “was not at any time endorsed or approved by ASIC”. It’s now called the ‘Advantage’ five year fixed rate home loan.
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Non-bank lender stopped from using ASIC trademark name

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Australia’s housing affordability and supply problems are on the radar of the Urban Development Institute of Australia, whose new National Policy Agenda identifies four key areas for reform, and a number of things that the federal government can do.
Looking at the areas of taxation, red tape, infrastructure and planning, UDIA national president Cameron Shephard said that governments can address housing affordability but also need to counter the issue of supply, a fundamental cause of the issue.
“A chronic shortage of housing in many major cities has resulted in rapidly escalating prices and rents, which has led to worsening housing affordability, and put home ownership increasingly out of reach for many ordinary Australians,” said Shephard.
“Fundamentally, the solution to this problem lies in reducing and removing the barriers to new housing supply, such as high taxes and charges on new housing, poor planning, delays caused by red tape, and inadequate urban infrastructure."
A number of their recommendations were also to state and local governments, including the first three of the nine points below. They also recommended that state governments reduce their reliance on upfront developer charges by investigating alternatives, create long-term plans, reduce reliance on stamp duty and similar taxes, and look to planning system reform.
Here are their nine suggestions for the federal government:
<ol>
<li>Identify population growth trends through the use of regular growth forecasts. 
</li>
<li>Actively use population growth forecasts to underpin comprehensive strategic plans for increasing urban infrastructure investment, and improve land-use planning and land supply. 
</li>
<li>Ensure that sufficient resources are available across different levels of government to implement strategic land use and infrastructure plans over the short, medium and long term. 
</li>
<li>Ensure that infrastructure investment decisions are subject to rigorous and comprehensive cost benefit analysis, to ensure the greatest value for money on new projects. 
</li>
<li>Further investigate non-traditional methods of funding infrastructure, to increase the level of funding available for investment at both a federal and state level. 
</li>
<li>Ensure that all levels of government cooperate and coordinate their regulatory activities to identify best practice, standardise regulations where possible, and avoid conflicting legislation, to create certainty. 
</li>
<li>Work to reduce duplication with state and local government processes, including continuing to streamline federal and state environmental assessment and approval systems.  
</li>
<li>Assist state governments with phasing out stamp duty by broadening the base of the GST.  
</li>
<li>Include state and local government levies in GST cost base calculations to improve the integrity of the tax system and reduce the incidence of double taxation.</li>
</ol>
Source: UDIA
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Nine things the federal government needs to do to fix affordability: UDIA

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A total of 68% of Australians are ‘very comfortable’ with their home loan, according to the latest ING DIRECT Household Financial Wellbeing Index.
Comfort with mortgages/long term debt, credit cards/short-term debt and household bills is currently at an all-time high.
The index found that 31% of households are mortgage free, while 44% are paying down their loan ahead of time.
A high level of comfort with short-term debt, such as credit cards, was noted with 5.48 out of 7 on the index recorded, or the highest level since 2010.
Of the households surveyed, 18% have a personal loan, with the average household owning 1.8 credit cards and 15% of households not having a credit card.
New South Wales was the most comfortable of all the states, followed by Western Australia and Victoria. All three were up on their second quarter 2014 results. South Australia and Queensland have dipped since the second quarter.
Head of third party distribution at ING DIRECT, Mark Woolnough, said that it’s good news that financial wellbeing is rising.
“Almost half of all homeowners are making the most of the current low interest rate environment and are getting ahead with their home loan repayments, which is a good strategy that will help them to maintain their financial health well into the New Year,” said Woolnough.
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Majority of mortgage holders comfortable with home loan: ING DIRECT

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Possible underquoting activity from an agency in Sydney is under investigation, according to NSW Fair Trading Minister Matthew Mason-Cox.
Operation Balaya, an investigation specifically developed to look at real estate compliance, was launched last month. The operation included intelligence gathering to look for underquoting.
The investigation was on agencies operating in the inner-city and Haymarket area. Officers checked licences, certificates, current continuing professional development, professional indemnity insurance and current and past financial year qualified audits.
“During its inspections, NSW Fair Trading identified certain information that requires further investigation to establish whether or not representations made by a real estate agency in relation to a number of recent sales were misleading,” Mason-Cox said.
“Agents who engaged in this illegal practice could face a maximum penalty of $22,000 or depending on the severity of the breaches an agency could have its license cancelled.”
He said that underquoting is a serious offence and that Fair Trading will not tolerate it.
“Not only does it seriously compromise the integrity of the real estate market, it puts enormous financial stress on innocent homebuyers,” he said.
Fair Trading’s results from Operation Balaya will continue to focus on underquoting and they have announced that enforcement action against those found to be non-compliant will be taken.
“From the 836 licences checked, 24 penalty infringement notices were issued valued at $27,100 for a range of breaches, including operating without a licence, failure to lodge an audit or complete continuing professional development before the renewal of a licence or certificate,” Mason-Cox said.
This is the 10th operation targeting the real estate industry across Sydney this year, with more than 762 agents visited and the licences or certificates of 1,342 agents sighted.
More than 59 penalty infringement notices have been issued – including for failing to have a licence and failing to supervise staff and business.
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Sydney agency under Fair Trading investigation for underquoting

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While all 37 leading economists and experts surveyed by Finder ahead of today's Reserve Bank meeting expect the cash rate to stay on hold this afternoon, three experts are tipping another cut to occur next year.
Last month, the Finder Reserve Bank Survey saw Australian Property Monitors’ Andrew Wilson tip a rate cut for the future, and he is now joined by two other experts.
Market Economics’ Stephen Koukoulas, joining the panel for the first time, and David Scutt from Scutt Partners also expect a drop next year. This would bring the cash rate from the current low of 2.50% to a new record low.
However, they are vastly outnumbered by those tipping the next move to be up – 92% of the panel. In total, 94% of the panel expect the cash rate to move in 2015, while 6% expect the next move to in 2016.
<img src="/images/2014/12/02/finder-dec-2-one.jpg" alt="">
Source: Finder Reserve Bank Survey
Michelle Hutchison, Money Expert at finder.com.au, said that it was interesting to see some experts tip a cut.
“It was also interesting to find some experts in the survey discussing the reality of a rate cut next year, with factors that could occur such as a falling housing market and slower growth in China and other foreign economies,” she said.
“There is a definite shift in the direction that the cash rate could take, with last month’s survey results showing all 33 experts were forecasting the cash rate to rise next year, including one expert (Andrew Wilson, Domain Group) predicting a rate cut before an upward cycle begins,” said Hutchison.
“But now there are three experts on the panel who are betting on a rate cut and others citing a possibility of a drop.”
In terms of today’s meeting, Wilson notes that there will be no impact from any change until next year.
“House price growth will track around inflation depending on local demand and supply drivers,” he said.
Koukoulas noted that the RBA has been slow to acknowledge the subdued nature of the economy, with an “unhealthy obsession” with Sydney house prices.
Meanwhile, Scutt said that the Australian Dollar remains overvalued, labour market conditions are still soft and commodity export prices have declined with the economy expected to grow below trend until 2016.
“They should be easing now but won't, at least in December. With house price appreciation slowing and targeted macroprudential tools still a strong possibility, if current domestic and international economic conditions remain subdued, the RBA will have little to prevent them easing early in the New Year.”
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Three experts tip interest rates to fall further: Finder RBA survey

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A new survey has revealed that not only are 62% of home buyers heading into an auction without a strategy, and 48% are not as prepared as they could be, but that 51% are experiencing anxiety about the auction process.
The research from St.George Bank points to 48% saying that auctions have a negative impact on their sleep patterns.
The most difficult house hunting and buying processes were noted as being making an offer or bidding at auctions, evaluating which properties provide good value and choosing the suburb in which to buy, with 46%, 44% and 44% respectively noting these options. A total of 57% further said that they would find it easier if property comparisons were simpler.
More than half have missed out on a property they wanted due to the heat of competition.
However, the majority felt confident when knowing what to look for at a property inspection and organising building and strata inspections.
St.George’s general manager retail banking Andy Fell said that they have created a new online hub called HomeHero to assist customers, in conjunction with Bank of Melbourne and BankSA. The resource includes step by step guides and information.
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Half of property buyers anxious, losing sleep over auction process

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While Perth’s property market was largely stable in November, the rental market has shown significant changes in the past 12 months, according to Real Estate Institute of Western Australia (REIWA) data.
There are now 6,111 rentals on the market – up 37% year on year.
However, rents are stable, at $450 per week for houses, while units have slipped slightly from $430 per week to $425 per week.
The vacancy rate sits under 4%, with little change forecast.
REIWA president David Airey said there has been a slight pickup in sales activity from the September quarter into October that appears to have been somewhat strong through November.
Listings for sale were up 13% in November, to 13,588 properties – up 40% on November 2013.
Airey said that this is a healthy return to an environment of choice that hasn’t been seen in Perth for a few years.
“Perth’s median house price appears to have picked up a little too, but this is nothing to get excited about,” Airey said.
Airey said that the skewed results were solely the result of an increase of near city sales that are pushing the median temporarily higher.
“As a result the Perth median is more likely to be steady at around $550,000.”
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Perth rentals up 37% in 12 months to November: REIWA

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Jennifer Duke

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