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Interest rates remain at record lows and borrowers are increasingly opting for fixed rates.
Fixed rate loans now account for 26.64% of all loans written in October, compared to 25.45% in September and an eight month high, according to the national home loan approval data from Mortgage Choice
Mortgage Choice Spokesperson Jessica Darnbrough said that it’s unlikely we’ll see any more cuts to the official cash rate and as a result borrowers are keen to fix.
“No doubt borrowers’ appetite for fixed rate loans has also been provoked by the ongoing competition for business among Australia’s lenders who continue to offer sharp pricing, significant mortgage discounts and other borrower incentives,” Darnbrough said.
“It is pleasing to see that borrowers are taking advantage of the current home loan market by actively responding to lender incentives and making informed home loan choices.”
In the ACT and New South Wales, demand for fixed rates is at 31.54%, closely followed by Queensland at 31.25%. South Australia and the Northern Territory recorded fixed rate demand at 23.44%. Victoria and Tasmania at 19.34% and Western Australia at 16.14% were the least likely to opt for fixed loans.
Variable rates, of course, remain the most popular.
“Regardless of whether borrowers choose a fixed or variable rate mortgage, they will be sure to secure themselves a sharp deal,” Darnbrough said.
“With record low interest rates and ongoing lender competition, the prospects of getting a great deal on your home loan couldn’t be better.”
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Demand for fixed rates at an eight-month high: Mortgage Choice

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Many lenders throughout the past rate cutting cycle altered their rates as competition heated up. However, it appears that now that the official cash rate has stabilised, so too have lenders rates.
Mozo’s latest insights into the home loans market notes that a mixture of increases and decreases were seen during the month, with just 12 providers making changes to their fixed rates. This is significantly lower number than in previous months.
So where does this leave us? Here’s Mozo’s snapshot of what is available:
MAJORS
The four major banks kept their home loan rates on hold over the past month.
All have the same fixed rates for their one year, two year, three year and five year packages, at 4.79%, 4.84%, 4.94% and 4.99% respectively.
Non-packaged rates do differ.
The lowest four year non-packaged fixed rate on the market, according to Mozo, is NAB and Westpac’s 4.99%, with Commonwealth offering 5.09% and ANZ at 5.49%.
OTHER LENDERS
Meanwhile, variable rates moved moderately among the lenders.
Suncorp, eMoney and Adelaide Bank all lowered their variable rates.
Australian Financial launched a new line of products with variable rates starting at 4.49%.
LENDERS WHO CUT FIXED RATES 
<ul>
<li>Citibank</li>
<li>P&amp;N Bank</li>
<li>BCU</li>
<li>BankVic</li>
<li>RESI</li>
<li>New England Credit Union</li>
</ul>
LENDERS WHO RAISED FIXED RATES 
<ul>
<li>Newcastle Permanent</li>
<li>Suncorp</li>
<li>Teachers Mutual Bank</li>
<li>Heritage Bank</li>
<li>SCU</li>
</ul>
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What rates are currently available? A snapshot of the mortgage market: Mozo

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Total dwelling approvals declined 11%, in seasonally adjusted terms, to a 13 month low of just over 15,000 in September, according to the Australian Bureau of Statistics’ latest building approval data.
Tasmania, South Australia and Western Australia recorded an uptick in seasonally adjusted new dwelling approvals in September, at 7.4%, 2.9% and 2.1% respectively. However, drops were seen in Victoria (19.8%), Queensland (8%) and New South Wales (7%).
Detached house approvals dropped by 3% over the month, though are still 7.9% up on the figure 12 months prior. Multi-unit dwelling approvals were significantly weaker over the month, recording a 21.5% fall over the September and a 34.2% drop year on year.
The data represents a potential tipping point in the home building cycle, according to the Housing Industry Association’s (HIA) senior economist Shane Garrett, who notes that dwelling approvals have likely peaked.
 “Monthly approvals reached over 17,000 earlier in the year. During September, we barely hit 15,000,” Garrett said.
“The reduction in new home building is probably an indication of the patchy state of the labour market, as well as increased consumer woes post-federal budget.”
“Recent HIA research shows an annual requirement for 180,000 dwellings to be built each year,” Garrett said.
“The fact that we seem to be drifting below this level of output again is a worrying sign. During the early days of the housing upturn, HIA had been vocal in its calls for policy to facilitate new housing supply to be delivered more readily.”
Master Builders Australia’s chief economist Peter Jones said that despite the drop in approvals they remain confident.
“The residential building upturn looks set to hold at strong levels as apartment approvals ‘take a breather’ after the previous red hot growth phase,” said Jones.
“The 11% seasonally adjusted decline in September was driven by a fall of 22% seasonally in units and apartments due mainly to the longer lead times in gaining approvals for apartment developments and is expected to bounce back.”
Jones said that builders are keen to see lift in approvals for detached houses in order to keep up momentum.
“In the three months to September the number of approvals topped 50,000 for an annualised 200,000 following on from the 194,000 recorded in financial year 2013/14,” he said.
The Urban Taskforce has also expressed concern over the drop in approvals, particularly in New South Wales.
“The apartment market is vital for housing supply in NSW with recent approvals running at around 70% of all homes. Our concern is that the easy sites have now gone and that the more difficult sites will find approvals harder to get. It is important that support for growth at state and local government continues," said Urban Taskforce CEO Chris Johnson.
“Sydney, in particular, must keep the support for new housing as we require 33,200 new homes each year and only completed 22,750 last financial year. While recent improvements in approvals have been positive this latest downturn in apartments is a worry," he said, pointing to the need for a simplified planning system.
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Has the home building cycle reached a tipping point?

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While the majority of experts predict the Reserve Bank of Australia (RBA) will begin to raise interest rates from next year, the senior economist for Domain Group's Australian Property Monitors, Andrew Wilson, is expecting one more cut.
Every expert in the latest Reserve Bank Survey from Finder, including Wilson, predicted rates to remain on hold today. Of these experts, <a href="/expert-insights/finance/rates-tipped-to-start-rising-in-2015-but-how-long-will-the-cycle-continue">91% expected rates to start rising in 2015</a>, with two expecting hikes from 2016.
Wilson, however, predicts the next cash rate movement to be down, cutting the current 2.5% to a new record low.
He further expects the peak of the next rate cycle to be 3.5% during 2018, with rates to start falling again from 2019.
“Mixed signals remain although bias now turning to the downside,” Wilson explained.
He said that the Reserve Bank is waiting for the general economic climate to crystalise.
With house prices now falling, inflation low, unemployment, a high dollar, a weaker share market and rising concerns over the global economic outlook, Wilson's believes this may push the RBA to make one more cut.
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Domain Group's Andrew Wilson predicts RBA will cut rates further

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The most recent Real Estate Institute of Queensland (REIQ) statistics show that rental markets remain tight, with south-east Queensland’s Logan and Ipswich becoming strong rental hotspots for investors.
REIQ CEO, Antonia Mercorella, said that the latest Residential Rental Survey, conducted at the end of September, found that just four of Queensland’s 16 major regions recorded significant changes in vacancy rates.
She noted that this is evidence of a two-tier residential rental market across the state.
“Logan and Ipswich are emerging as the south-east’s rental hotspots as tenants move further afield from inner-Brisbane in search of more affordable rents,” Mercorella said.
“For the rent you’d pay for a three-bedroom house in Brisbane, you can get a four bedroom house in Brisbane’s outlying areas for up to $65 less a week.”
She noted that, for this reason, Logan and Ipswich are now very tight rental markets with the lowest vacancy rates in the Greater Brisbane region.
By the close of September, Brisbane City LGA recorded a 2.3% vacancy rate, relatively stable since the end of June.
“Brisbane’s middle to outer suburbs – those 5-to-20 kilometres from the CBD - recorded a slight easing in vacancy levels, up 0.2% to 2% at the end of September,” she said.
“The city’s inner suburbs, on the other hand, recorded a vacancy level of 2.9%, down from 3.4% at the end of June.”
The Residential Tenancy Authority’s records of median weekly rents for the September quarter also noted relatively steady rents across the LGA, with greater Brisbane returning to a vacancy rate seen 12 months ago – 1.7%.
“Vacancy levels in the Moreton Bay and Redland City council areas remained relatively steady over the three months to September, with both recording 1.8%,” she said.
“While not quite as tight as Logan and Ipswich, strong investor activity and tenant demand are setting the scene for competitive rental markets in both LGAs.”
Logan City’s vacancy rate currently sits at 1.5%, with Ipswich City at 1.6%, both down 1.4%.
Picture courtesy of Wikimedia Commons/Clarebear/ <a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">CC BY-SA 3.0</a>.
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Logan and Ipswich emerge as south-east Queensland rental hotspots: REIQ

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Those looking to buy property, usually under strata title such as an apartment, townhouse or villa, will likely hear the term ‘common property’.
Essentially, common property is a term that applies to sections of the residence that are owned by all the owners of that complex. This can cover many things; the driveway into an apartment block is owned by all the apartment owners, thus making it ‘common property’. This means that the responsibility for that driveway, and its upkeep, is jointly shared among those owners as well.
The section that you own that does not share common property is usually called a ‘lot’.
How do I know what is common property?
New South Wales Land and Planning Information explains that in order to determine what is and isn’t common property, you will need to inspect a copy of the registered strata plan and a current search of the common property title. These can be purchased through the government portal in each state or territory (for instance, Western Australia’s Landgate, which refers to them as Survey-Strata Plans and costs $24). The common property title will alert purchasers to any changes in the by-laws that may affect what is and isn’t common property.
Usually, external walls on the sides of the building are common property, as well as the floor and the roof of the entire complex in some circumstances. They are usually identified with thicker lines on the strata plan.
Within the lot itself, the walls from the paint or wallpaper inwards and the floor coverings and upwards are usually the responsibility of the owner – including the fixtures and fittings and often the internal walls. This may include balconies and courtyards, so it’s worth checking. New South Wales Fair Trading notes that, usually, if the strata plan was registered after 1 July 1974, the balcony doors are usually common property.
Common property also covers hidden things in these areas, such as wiring, pipes and other facilities. This can also cover pruning trees and gardening plants that exist on common property and cleaning common areas. Foyers, fences and lifts are usually common property.
Who looks after common property?
As all the owners have a stake in the common property areas, the responsibility lies with every owner. Maintenance and repairs are, therefore, the responsibility of the owner’s corporation. The safety and appearance of the areas must be maintained unless there is a special resolution not to do so (and the safety and appearance is not greatly affected) – usually this is based around the replacement of certain items.
These decisions are usually made at the general meeting of the owner’s corporation. Changes can be made to the by-laws if an owner wants to add something that will enhance the common property for all owners, explains Fair Trading.
However, these additions will be the responsibility of the lot owner – and a by-law is then created – otherwise it will fall on the plate of the owner’s corporation.  For instance, someone may also want exclusive access to part of a garden. To pass the by-law, 75% of the owner’s corporation or more must agree.
Who pays for the common property maintenance?
While the owner’s corporation is responsible, each owner must contribute to ensure the owner’s corporation can keep repairs, maintenance and upgrades up to date. This is usually the case through your strata levies, also known as body corporate fees.
Levies usually cover administration funds and the sinking fund, which pays for maintenance, insurance, budgeted repairs, emergencies and future capital works on the property.
Ask about the sinking fund plan or the ‘maintenance plan’ prior to buying to see what sort of plans are ahead for covering the maintenance of common property. This will alert you to what is ahead to pay for. If it hasn’t been recently reviewed, or carefully done, it may under-estimate what you will need to pay.
Special levies are sometimes used to cover common property, particularly in the case of upgrades. This could be re-carpeting or new paint, or even larger upgrades depending on the wishes of other owners. This is an additional cost, on top of your current strata fees, that may not be welcomed by all owners.
A special levy is often discussed if the sinking fund is not adequate to cover either necessary repairs, due to poor forecasting of maintenance, unexpected costs, or to cover new upgrades. Look into strata meeting details to get an understanding of what may be coming up.
To find these details it is often worth purchasing a strata report, which includes what the current levies are, any special levies, defects and repairs that have been made and plans of the owner’s corporation. For these reasons, professional pre-purchase strata inspectors can be useful.
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What is ‘common property’? Investment terms explained

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Western Australia’s have started public consultation on proposed strata title law reforms, allowing for property owners and tenants of strata units to voice their opinion.
The reforms aim to create affordable housing options and encourage shared living communities via better management policies and efficient dispute resolution.
Lands Minister Terry Redman said this is a critical part of the process for those who own and live in strata scheme housing, or who may decide to in the future.
“WA is expected to be home to more than 3.5 million people by 2031 and we need a more robust and workable legislative framework to support strata title development and meet the future housing demands of the State,” Redman said.
“It is hoped these reforms will entice land developers and investors to WA, with provisions for more innovative and flexible planned community developments, which is currently a barrier to property growth in WA.”
Areas of focus include:
<ol>
<li>Vendor disclosure</li>
<li>Options for strata development and tenure</li>
<li>Dispute resolution</li>
<li>Management of strata</li>
<li>Termination of schemes</li>
</ol>
Landgate has already spoken to government agencies, industry and business peak bodies over the past 12 months. The Property Council of Australia (PCA) have announced their support of the WA Strata Titles Act Reform Consultation paper.
Joe Lenzo, executive director of the PCA, said that it is important to modernise the “antiquated” strata laws with an increasing number of people opting for strata properties, including townhouses.
“Community titles will encourage larger scale precinct-style housing development to occur in WA, similar to other states. This includes more mixed use development around suburban centres and strategic infrastructure investments like train stations,” said Lenzo.
“The reforms proposed in this discussion paper follow an extensive period of constructive consultation with industry and the community, and we look forward to their implementation.”
Investors can <a href="https://consult.landgate.wa.gov.au/consult.ti" target="_blank">leave feedback on the consultation paper online via Landgate</a>.
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Public consultation starts on WA's proposed strata reforms

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Stockland have announced a prospective 80 to 90 townhouse development in Melbourne’s north-east suburb of Ivanhoe, following the acquisition of a 1.95 hectare former school site.
The development will have frontages to Banksia Street, Jellicoe Street and Wadham Road. The area has been designated as a Residential Growth Zone by the Banyule City Council, allowing for more medium density homes.
There will be six different designs that aim to modernise the traditional Victorian terrace, as well as be thermally and energy efficient.
The townhouses will be two and three storey terraces, with three to four bedrooms. All will have on-site parking, some with two car spaces and some with home offices.
Construction is expected to begin in mid-2015, pending council approval, with sales to begin at the end of 2016 to early 2017. The sales point, while called “attractive”, has yet been released.
Stockland managing director and CEO Mark Steinert said the development is a prime opportunity for the company.
“Ivanhoe is already well serviced by a local train station and bus transport routes, and residents will also enjoy the convenience of local retail and a full range of other public infrastructure services,” said Steinert.
“This acquisition reflects our strategy to diversify our residential business by developing more medium density communities in the inner and middle ring suburbs of our cities.”
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Stockland acquire Ivanhoe site with plans for 90-townhouse development

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The Real Estate Institute of New South Wales’ (REINSW) deputy president John Cunningham said they would support an increase in the GST – so long as there is an abolition of inefficient property taxes.
Cunningham said stamp duty and land tax, as well as other property related taxes, are inefficient and should be removed.
These taxes have also been described as inefficient by the Independent Pricing and Regulatory Tribunal.
“We also believe that payroll tax is an inhibitor to employment and should be abolished,” said Cunningham.
“If there is such a thing as a good tax system, it is broad based that will provide government with its revenue and not impede or deter investment.”
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Raise the GST - but only with property tax cuts: REINSW

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Sydney’s first alcohol-free bar, Lentil on the Rocks has opened in Newtown, right in the heart of the inner west.
The brain child of Melbourne-founded vegetarian food outlet Lentil As Anything, the bar is on the upstairs level of the food outlet’s existing Newtown premises.
The Lentil as Anything restaurant asks patrons to pay what they can afford, or what they think the food is worth, rather than listing prices. Staff are volunteers and the business is not for profit.
This new bar will also operate on an "honesty policy" system and is free entry.
Many mocktails were consumed upon the official opening last week, allowing teetotalers, general abstainers and the underage to enjoy a Newtown night out.
The bar will be open every Friday and Saturday from 8pm to 11pm.
<a href="/expert-insights/investing/newtowns-lentil-as-anything-upsizes-to-new-address">Lentil as Anything upsized to their “own premises”</a>, closer to the heavily trafficked Newtown train station, at 391 King Street in July this year. They were previously renting the nearby 531 King Street. This is their first, and currently only, foray into Sydney.
The alcohol-free bar is next door to one of Newtown’s favourite alcoholic watering holes “Sando”, or the Sandringham Hotel.
Alcohol-free bars are becoming increasingly popular overseas, dubbed ‘dry bars’ by offshore media, in particular in the United Kingdom. The Brink in Liverpool, Redemption Bar in London, Sobar in Nottingham and The Umbrella Café and Dry Bar Manchester have all recently opened. The Brink and The Other Side are, like Lentil on the Rocks, not for profits. 
The Date Report notes that there are also 'dry bars' in Paris, Dublin and Chicago.
The OECD ranks Australia equal 16th internationally, tied with the United Kingdom and Switzerland, for alcohol content consumption per person.
The Preston and St Kilda Lentil as Anything restaurants are currently looking at potential renovations, with fundraising a la carte dinner nights to be held later this month. There are also outlets in Abbotsford and Footscray. But there is no word yet whether Melbourne can expect an alcohol-free Lentil as Anything bar any time soon.
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Sydney’s first alcohol-free bar Lentil on the Rocks opens

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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