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A new CHOICE survey has found that 45% of renters are finding it hard to get by financially and are unaware of their rights regarding bonds, rent increases and repairs.
“We’ve all heard rental horror stories of tenants being slapped with unexplained rent increases and struggling to get repairs completed, so it is important to know your rights to avoid being treated unfairly or exploited,” says CHOICE spokesperson Tom Godfrey
Here are the five rental rights tenants need to be aware of: 
<ol>
<li>
Rental increases Your rent cannot be increased during a fixed-term tenancy agreement (less than two years), unless it is written into your contract. For a periodic lease, in most states and territories your rent can only be increased every six to 12 months. Plus, in most states and territories you’re entitled to a notice period of 60 days. Landlords are also not allowed to increase your rent by an excessive amount. While there is no set amount that is regarded as excessive, if you believe the rent increase is too large, you can dispute it through your state’s appropriate service.     
</li>
<li>
Fee-free rent payments Renters are often charged fees through third-party rent collection companies. In South Australia, New South Wales and Queensland, you’re entitled to at least one fee-free way to pay rent. 
</li>
<li>
Right to repairs Landlords are required to conduct repairs to keep the property in a reasonable condition. If your landlord does not take care of a repair or maintenance request, you may be able to apply to a tenancy tribunal to have your rent paid into a special account until the repairs are completed. 
</li>
<li>
Right not to be on tenancy databases You can only be put on the tenancy database for two reasons: if your rent is overdue by an amount larger than the bond, or if you’ve breached your tenancy agreement. Your agent or landlord is required to inform you if they plan on listing you, giving you time to consider and dispute the claims.   
</li>
<li>
Right to get your bond back Unless your landlord can make a legitimate complaint to the bond board, you have the right to get your bond back as soon as your tenancy is over.</li>
</ol>
Source: CHOICE
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Five rental rights tenants need to be aware of

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Despite doubling the number of apartments available at the first launch of Green Square Town Centre on Saturday, before the weekend was over, the joint venture between <a href="https://www.mirvac.com/" target="_blank">Mirvac</a> and UrbanGrowth NSW was completely sold out.
The two day launch saw 174 apartments offered (initially 79 were to be released) in the first residential building of the project, named <a href="https://greensquare.mirvac.com/Coming-Soon/Ebsworth/" target="_blank">Ebsworth</a>. This totalled more than $150 million of sales to a range of investors and owner occupiers, including first home buyers. More than 4,600 enquiries were received for the first release.
The apartments were priced from $550,000 for a 42 square metre one bedroom apartment with no parking. Two bedroom, two bathroom apartments with one car park, and three bedroom, two bathroom apartments with one car park are also available.
The next release will be fast tracked as a result of this sell out.
UrbanGrowth NSW chief executive David Pitchford said that Green Square is the beginning of a new era for Sydney.
He pointed to the success working with the private sector and noted the area’s employment and housing options, nearby train station and amenities.
Mirvac group executive residential development, John Carfi, said that there has been a shift towards inner city living.
“Green Square offers all the fundamentals that people are looking for in apartment living,” said Carfi.
“There were however a number of potential buyers who missed out and we will be doing our best to bring forward the next release of apartments at Green Square to satisfy the evident demand.”
Construction of Ebsworth will begin in early 2015 and is expected to be completed in late 2016.
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Green Square apartment launch sells out after doubling offering

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All 33 experts and economists in Finder's Reserve Bank Survery have tipped the Reserve Bank to keep rates at a record low of 2.5% tomorrow.
However, a lacklustre economy, high unemployment, the Australian dollar, global uncertainty in the Middle East and Europe, house price pressure and inflation on target, makes it likely that rate hikes will begin in 2015.
Melbourne Cup day has traditionally been a day of cash rate movements – with nine changes on this day in the past 20 years.
Of those surveyed by Finder, 91% are expecting rises in 2015. Two expect rises in 2016.
The general expectation is for rates increases to start increasing in August 2015 before coming to an easing cycle two to three years later.
Finder’s money expert Michelle Hutchison said that rate rises won’t last for long when they do occur.
"Our economy is under pressure to perform better, and all 33 experts in the Finder Reserve Bank Survey believe that the cash rate won’t rise for very long before it will start to fall again,” she said.
“The survey found that the cash rate is likely to peak at 4% in 2017 according to the average forecast.”
However, expectations about when the next interest rate cycle will peak varied significantly– certainly a tough ask this early on.
The majority, 60%, expected the next peak to be in 2017, while a further 27% expected 2016 would mark the peak. A further 13% tipped the top of the next rate cycle to be in 2018.
“One expert – David de Ferranti, Market Analyst at Forex Capital Markets – is forecasting the highest peak, with the cash rate to hit 5.5%. One in three (33%) are expecting the cash rate to hit 4.5% to 5%, a further one in three (33%) expect the peak to hit 4% to 4.25% while the remaining 30% are expecting a peak of between 2.75% and 3.75%,” she said.
“It’s also clear that most experts believe the cash rate won’t hit the high levels we’ve seen in the past. And regardless of when the peak will be reached, it’s likely to start falling soon after.”
Almost 50% of the respondents suggested rate drops in 2018.
“This is great news for borrowers or those planning to enter the property market this mortgage season, as they can prepare for around two years of rising interest rates before they will likely come down again,” she said.
"Borrowers need a buffer of at least $300 per month for an average $300,000 loan if the cash rate hits 4%.”
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Rates tipped to start rising in 2015, but how long will the cycle continue?

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Former real estate agent representative Dennis Ong, full name Kian Meng Ong, pleaded guilty in Moorabbin Magistrates Court to four counts of fraudulently converting funds received by his employer, totalling some $52,024.90.
Ong was sentenced to a four month jail term, wholly suspended for 18 months, due to the misappropriation of trust account money. He was also fined $2,500 and ordered to pay $114 in costs.
Ong, who managed a portfolio of 150 rental properties at Ray White Oakleigh, changed the account details in the ‘payee’ field on the agency’s computer system to his own private bank account, rather than into the landlord’s account, on four occasions between September 2012 and February 2013.
In February 2013, a landlord complained to the agency about not receiving funds, at which point Ong confessed to his employer.
Ray White Oakleigh contacted Consumer Affairs Victoria (CAV) to notify them of Ong’s actions. Ong admitted his conduct to CAV and arranged to repay the stolen money.
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Trust account misappropriation lands former agent jail sentence

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The presence of investors is still keenly felt in the property market, with housing credit “solid” in September, according to ANZ’s Australian Economic Update from Dylan Eades and David Cannington.
Investor housing credit rose 0.9% month on month, up 9.5% over the year.
“This reflects strong investor loan approvals and is closely watched by the RBA given that some segments of the housing market have become ‘unbalanced’ in the Bank’s view,” the update explained.
“Indeed, investor housing loans now account for around 50% of housing loans (excluding owner-occupier refinancing), which is a record high.”
Investors have been particularly active in New South Wales, while other states have been far more moderated.
<img src="/images/2014/11/03/Screen%20Shot%202014-11-01%20at%205.14.56%20PM.png" alt="">
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Investor loans account for record 50% of the market, RBA watching closely: ANZ

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The Real Estate Institute of Western Australia’s (REIWA) latest figures have Perth’s median house price lifting 1% over the September quarter to $548,000.
However, REIWA’s president David Airey warns a downturn should be expected in 2015.
While the median price is up by a small amount, sales turnover is now at its lowest level in two years, with listings for sale trending upwards fast while rents fall. This spells bad things for property owners over the next year, says Airey.
Here are the Real Estate Institute of Western Australia's signs a downturn is coming:
<ol>
<li>Turnover for Perth houses sits 12% below average. 
</li>
<li>There were 10,250 listings in the September quarter. 
</li>
<li>House price growth is currently moderating – up only 1% over the September quarter. 
</li>
<li>Average days on market up by two days, to 59. 
</li>
<li>Number of vendors dropping their asking prices increased from 48% to 51% (with an average price reduction of 5.3%). 
</li>
<li>The rental market’s number of properties for lease did soften (now at 5,711), however this is almost 50% up on September 2013. The vacancy rate is at 4% and it takes owners an average of 33 days to find a tenant. 
</li>
<li>Rents have softened across Perth – house rents are down $10 to a median of $450 per week. Apartments, units and villas dropped by $15 to a median of $430 per week. This is down 4.3% on last year.</li>
</ol>
Source: REIWA
There is some good news. Airey points to turnover for units, apartments and villas up 7%, despite early Landgate data pointing to a 3.3% fall in median price to $435,000. Regional areas also bucked the downturning Perth trend, with turnover unchanged over the quarter.
First home buyers may be making a small resurgence, with an increase in turnover in the price sectors below the median price – a typical first home buyer activity spot. The Office of State Revenue noted that as of September, the median first home buyer purchase is now at $432,00 compared to $456,500 in July.
“This is good news for first home buyers on one hand, but it also shows they are becoming harder to find in the established home market,” Airey said.
Across the city, investors need to be astute and look for signs of change ahead, said Airey.
“The extent to which the low level of sales, increase in listings, soft rental market and low consumer sentiment might influence the housing system in the longer term may become apparent in the December quarter,” he said.
“Perth’s equilibrium for listings in a balanced market is around 12,000 and indications are that we will clearly surpass this in 2015 which will add to selling days and put downwards pressure on price.”
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Seven signs a Perth market downturn is nigh: David Airey

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The latest RP Data CoreLogic Home Value Index for October indicates strong growth in a number of capital cities.
Here’s the 12 month growth from largest to smallest across the capitals.
<ul>
<li>
Sydney 13.1% 
</li>
<li>
Melbourne 8.9% 
</li>
<li>
Brisbane 5.6% 
</li>
<li>
Darwin 5.0% 
</li>
<li>
Hobart 4.4% 
</li>
<li>
Adelaide 4.3% 
</li>
<li>
Perth 3.4% 
</li>
<li>
Canberra 0.9%
</li>
</ul>
The combined capitals together recorded an uptick of 8.9% over the year. Over the month of October, prices increased by 1.0%, contributing to a quarterly result of 2.2%.
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How the capitals performed over the past year: RP Data

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Dwelling values across Australia’s capital cities increased by 1% over the month of October, according to the latest RP Data CoreLogic Home Value Index.
Despite a slowdown in growth, also seen in September, prices continue to rise – up 2.2% over the past three months.
Only Sydney, Melbourne and Brisbane recorded rises over October - at 1.3%, 1.9% and 0.6% respectively. Despite the headline 2.2% quarterly figure, only half of the capital cities noted increases.
RP Data’s Tim Lawless explained that Sydney is still a stand out, with values up 1% in October and 3.9% over the past three months. Sydney and Melbourne’s results continue to drive the national figure, Lawless said.
Meanwhile, Perth and Canberra have now passed the peak of their growth. Hobart and Canberra posted the strongest falls, down 2.8% and 2.4% respectively.
“Looking at the increase in home values over the 12 months to October, it is clear that the rate of capital growth is continuing to moderate,” said Lawless.
“Despite the annual rate of value growth slowing, all capital cities have still recorded an increase in home values over the past year. Home values across the combined capital cities have increased by 8.9% over the 12 months ending October 2014, which has slowed from a peak of 11.5% in April of this year,” he said.
Over the year, Sydney’s home values are up 13.1%, with Melbourne up 8.9%. Brisbane, the third best performer, is up 5.6%, while Darwin is also up 5%. Subdued growth was seen in Hobart, at 4.4%, with Adelaide posting a 4.3% uptick, Perth up 3.4% and Canberra relatively stable at 0.9%.
“Despite the fact that the annual increase in home values is slowing, other indicators remain strong,” he said.
<img src="/images/2014/11/03/rp-data-nove-3-one.jpg" alt="">
Source: RP Data CoreLogic Home Value Index
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Price growth slowing, but upwards momentum remains: RP Data

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Milieu Property’s Whitlam Place, named after Gough Whitlam and launched just prior to his passing this month, is expecting a quick sell out due to the strength of Fitzroy’s property market.
The name comes from the adjoining parkland, Whitlam Place.
The boutique block of 11 apartments is situated on Napier Street and has been designed by Freadman White and Anon Studio. They have created it to suit the historic style of the street.
The apartments range from 44 square metres to 147 square metres, priced from $480,000 to $1.7 million.
<img src="/images/2014/10/31/WHITLAM_4.6.jpg" alt="">
There are three one bedroom and eight two bedroom offerings, with young professional couples and downsizers noted as showing the most interest.
The apartments include terraces, separate storage units and bicycle parking. The two bedders come with two car spaces.
Milieu Property director Michael McCormack said that Whitlam Place is likely to sell out quickly, with their previous Moor Street development selling within four weeks.
<img src="/images/2014/10/31/WHITLAM_4.8.jpg" alt="">
“Our team has brought intellectual rigour, vision and a totally commensurate design philosophy to this project,” McCormack said.
“Our desire to establish Whitlam Place as being in a class of its own has driven every decision we’ve made.”
A warehouse conversion project of five properties, on Carlton’s Waterloo Street, is expected to be launched by Milieu shortly.
<img src="/images/2014/10/31/WHITLAM_4.9.jpeg" alt="">
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It’s time for Whitlam Place: Milieu Property’s Melbourne development

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Following strong demand for the first apartments at Green Square Town Centre, Mirvac and UrbanGrowth NSW are doubling the amount of apartments available upon the second stage release.
They will now offer 174 dwellings to prospective buyers rather than the previously planned 79.
<a href="https://greensquare.mirvac.com/Coming-Soon/Ebsworth/" target="_blank">Ebsworth</a>, in Zetland, includes two building and is the first section of the Green Square development. Upon completion the project is expected to contain 2,000 apartments.
<a href="https://www.mirvac.com/" target="_blank">Mirvac</a> expect fierce competition after fielding more than 4,600 enquiries for the first release.
The apartments are priced from $550,000 for a 42 square metre one bedroom apartment with no parking. Two bedroom, two bathroom apartments with one car park, and three bedroom, two bathroom apartments with one car park are also available.
Those who expressed interest were required to pay a $5,000 deposit for a chance to purchase and then allocated appointment times.
UrbanGrowth NSW chief executive David Pitchford said that Green Square’s level of interest is due to the site's vision for urban transformation and its location 3.5 kilometres from the CBD.
“The community has waited patiently for Green Square to become a reality and now we are ready to deliver,” said Pitchford.
“From the time UrbanGrowth NSW started its journey transforming an under-utilised industrial precinct, we knew there was the potential for a great community at Green Square. This is the beginning of a great city centre with a village feel, a place where people will be able to access a train, public places, cultural amenities and a diverse retail offering,” he said.
Mirvac’s chief investment officer Brett Draffen said that the high level of amenity, in conjunction with the location, will also underpin strong demand.
“The response to the first release of apartments at Green Square mirrors our belief that we are creating the type of new urban community that people truly want to live in,” he said.
Sales begin Saturday 1 November, at 7am. 
Construction is expected to be complete by late 2016.
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Mirvac doubles Sydney Green Square’s Saturday apartment release

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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