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Affordability, and the lack of it, is a big topic for those working in the property industry and those buying into the property industry.
Some do not believe the affordability issue exists, such as observer Terry Ryder who was recently writing on<a href="/expert-insights/investing/there-is-no-australian-housing-affordability-crisis-terry-ryder"> what he sees as a mythical issue, </a>and has been for some years.
Others believe<a href="/expert-insights/investing/government-should-ignore-the-self-interested-nimbys-and-fix-sydneys-affordability-crisis-peter-bentley"> we are at a crisis level</a>.
Property Observer has compiled a list of the seven most regularly suggested ways to improve housing affordability and assist first time buyers enter into the market.
Add yours to the bottom of the post, and debate how effective you think these suggestions would be.
1. More first time buyer grants
Providing first time buyer grants to assist new home buyers get a foot on the property ladder at first seems to make a lot of sense. Giving them a cash injection looks as though it will give them a leg up.
Unfortunately, this isn't necessarily the case. Terry Ryder notes that, particularly at present with grants aimed towards new property, <a href="/expert-insights/investing/first-home-buyer-grant-schemes-simply-dont-work-terry-ryder">they do little to bridge the gap </a>between the cost of a new home and the cost of an established home.
Meanwhile, Steve Keen refers to these hand outs and grants as a<a href="/expert-insights/investing/housing-grants-a-poisoned-chalice-that-create-bubbles-and-leave-buyers-worse-off-steve-keen"> "poisoned chalice" </a>that create bubbles. It certainly isn't an uncommon perspective. Many believe giving out first home owners grants merely serves to increase property prices by the value of the grant.
2. Improving supply with more developments
This is often pushed by development companies or lobby groups, however does contain a some grain of truth – improve supply to keep up with demand. Simple? The reality is a little more complicated.
This would involve, in some states and territories, an overhaul of planning and the development approval process. Rezoning may need to occur. Cheap housing supply benchmarks may need to be set, and there would have to be consensus on what "type" of housing should be built.
Even if we did reach this point, it's unclear whether the increased supply would actually have an effect.
A recent article, which looked closely at supply and demand, argued that houses are not the same as bananas or other commodities when it comes to supply. ]
The argument<a href="/expert-insights/investing/its-bananas-increasing-supply-isnt-enough-to-satisfy-hunger-for-affordable-housing">, from academics Nicole Gurran and Peter Phibbs</a>, is that prices for housing are set by the total market, not just the new builds. When prices go up consumption does not decrease, as it might with bananas, and that rises in prices are often accompanied by a decrease in interest rates.
Even if improving supply is the solution, there are locals to also deal with. The McKell Institute's Peter Bentley previously wrote that dealing <a href="/expert-insights/investing/government-should-ignore-the-self-interested-nimbys-and-fix-sydneys-affordability-crisis-peter-bentley">with a NIMBY attitude will be an issue</a>.
3. Allow first time buyers to access their superannuation
A hugely contentious suggestion, and one that has been played out in other countries: Is superannuation the silver bullet for new buyers?
The Housing Industry Association (HIA) is keen, with their executive director Graham Wolfe noting that <a href="/expert-insights/buying/time-to-allow-first-home-buyers-access-to-superannuation-hia">it would assist with their deposit</a>.
“Accessing superannuation for a home deposit would provide temporary access to their personal savings. Provided it was repaid to their superannuation accounts over a period of time, similar to university HECS repayments, their retirement savings would be assured,” he said.
“HIA urges all stakeholders to support measures aimed at improving access to home ownership for first home buyers, including assistance in breaching the deposit gap.”
However, a number of experts, including wHeregroup's <a href="/expert-insights/buying/allowing-first-home-buyers-access-to-their-super-isnt-the-answer">T</a>odd Hunter,<a href="/expert-insights/buying/allowing-first-home-buyers-access-to-their-super-isnt-the-answer"> remain opposed to the idea, </a>saying that it would detract from the security and purpose of superannuation.
There is also the issue around what would occur if the property purchased drops in value, and the simple truth that not all young first time buyers have saved much in the way of superannuation. 4. Negative gearing reform
Tax reform, especially pertaining to negative gearing, is discussed every time a new budget comes up. Whether it's grandfathering the tax benefit out of existence, removing it completely, or some other change,<a href="/expert-insights/buying/how-to-fix-australias-affordable-housing-problem"> the proposal always winds people up.</a>
Some suggest that removing negative gearing benefits takes away the incentive for investors to buy into the market. Investors are often described as competing with first time buyers and subsequently driving house prices up.
Abolishing negative gearing may also remove financial advantages for investors who can afford to pay more, knowing it will cost them less to hold.
Others suggest that taking away benefits around negative gearing removes the incentive for investors to buy rental properties, which some argue assist the provision of rental housing stock. For those, an exodus of investors from the market is a bad thing.
You can <a href="/expert-insights/finance/room-for-debate-should-negative-gearing-be-abolished">read both sides of the argument here</a>.
This article continues on the next page. Please click below.
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5. Alter stamp duty
Stamp duty is also widely considered a tax that stops new buyers, in particular, from getting into the market. Suggestions around replacing it with a broad-based tax have been thrown around, while others just want first home buyers to be given back their stamp duty exemption for purchasing any property.
Removing it completely is often proposed. In fact, BIS Shrapnel's Angie Zigomanis argued earlier this year that stamp duty is almost entirely responsible for l<a href="/news/saving-that-extra-20-000-is-the-drag-causing-first-home-buyer-slump">agging first home buyer numbers</a>.
Others suggest that <a href="/expert-insights/investing/federal-government-calls-for-state-government-stamp-duty-concessions-for-downsizing-seniors">giving older downsizers a relief from stamp duty</a> would help open up larger established properties for upsizers and first home buying families. This is already in place in some areas.
Stamp duty concessions and other property tax cuts, particularly for first home buyers, <a href="/expert-insights/buying/its-time-to-stop-tinkering-with-first-home-buyer-assistance-robert-larocca">seem to garner the most expert support</a>.
6. Macro prudential measures
While macro prudential control is not necessarily on the cards from the Reserve Bank of Australia (RBA), it has been the topic of some debate over whether it could help with not just lending standards but also affordability via the reduction of loan to value ratios (LVR), particularly if aimed towards specific sectors of the market.
Observer Catherine Cashmore recently <a href="/expert-insights/investing/can-housing-really-be-affordable-and-unaffordable-at-the-same-time">reflected on a BIS Shrapnel report </a>which found that while reductions in the maximum LVR can restrain demand, debt service to income ratio measures were assessed to be more substantial.
However, the report noted that “only tax changes affecting the cost of buying a house, which bear directly on the user cost, have any measurable effect on prices” and that  “none of the policies designed to affect either the supply of or the demand for credit has a discernible impact on house prices.”
"The study puts this down to the ‘can buys’ still outnumbering the growing pool of credit constrained ‘can’t buys’ – stressing that the importance of housing supply was not explicitly considered. Therefore if we want to lower house prices or put in place policies to aid affordability, we need to look outside the limited powers of the RBA alone," writes Cashmore.
What macro prudential measures will do, writes Lindsay David, is push new buyers to the sidelines for an immediate period of time and assist them from getting themselves into too much debt.
"[However, it will] negate their fair chance to own a home like their previous generations have– for a much lower cost," he writes, <a href="/expert-insights/finance/fire-the-rba-governor">asking "Where does this leave us?" </a>
7. Changes to foreign investment in Aussie property
The most popular debate around affordability over the past months has been the issue of foreign investors fuelling property prices across the country.
Whether it's <a href="/expert-insights/investing/hitting-foreign-buyers-with-extra-fees-is-an-ineffectual-solution-to-a-mythical-problem">hitting foreign buyers up with an extra fee</a>, increased enforcing of the current rules or an overall abolition of the investment, all manner of things have been suggested.
Unfortunately, it seems experts are split about whether foreign investment is substantially pushing up property prices, despite the<a href="/news/foreign-buyers-at-record-9-5-of-established-property-demand-nabs-alan-oster"> record numbers seen in recent months</a>.
Cameron McEvoy suggests that the affordability issue from foreign investors may be <a href="/expert-insights/buying/investor-saturation-in-suburb-hotspots-will-have-consequences-for-residents-and-investors">contained to specific suburbs and specific types of properties</a>.
 YOU MAY ALSO WANT TO READ
<a href="/expert-insights/buying/eight-housing-affordability-myths-debunked-cis">Eight housing affordability myths debunked: CIS</a>
<a href="/expert-insights/buying/government-needs-to-stem-exodus-of-first-home-buyers-reia">Government needs to stem “exodus of first home buyers”: REIA</a>
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jduke-EHk3XBmHkn

The seven most common suggestions for 'fixing housing affordability'

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Japanese retailer UNIQLO opened this morning at Sydney’s newly refurbished Macquarie Centre.
The first full scale store for the retailer in Sydney spans over 1,514 square metres.
At the official launch today there were be Japanese drummers, gift bags and coffee, DJ entertainment and a ribbon cutting ceremony led by UNIQLO Australia chief executive Shoichi Miyasaka.
It’s not the only much-awaited store for Macquarie Centre with <a href="https://propertyobserver.com.au/finding/commercial-investment/retail/35426-zara-gap-h-m-and-uniqlo-announced-for-macquarie-centre-ryde" target="_blank">Zara, Gap and H&amp;M</a> also taking up residence in the complex.
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UNIQLO’s first Sydney store opens today

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The Grand Designs Live Home Show begins tomorrow in Melbourne at the Convention and Exhibition Centre, luring fans of the show, renovators and home improvement aficionados.
Areas at <a href="https://granddesignslive.com.au" target="_blank">Grand Designs Live</a> include kitchens, bathrooms, interiors, outdoors, sustainability, building and technology.
The Lifestyle Channel Grand Theatre will host talks from Kevin McCloud, Peter Maddison, Shaynna Blaze, Andrew Winter, Veronica Morgan, Bryce Holdaway and Charlie Albone.
Blaze will cover decorating in small spaces, Winter will be discussing how to sell your home for the right price and Holdaway will be presenting his top seven tips for buying at auction.
Book signings and prizes will be up for grabs.
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Grand Designs Live Melbourne begins tomorrow

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The ANZ/Property Council Survey index for Western Australia has seen a softening in property business sector confidence to 115 from 123 over the latest quarter.
Down 19 points over the last 12 months, it is in stark contrast to the increasingly positive sentiment nationally, up to 135 from 131 over the same period.
Property Council of Australia executive director Joe Lenzo said that the dip is in line with recent consumer surveys that have also seen declines.
“The Western Australian property sector is still adjusting after record high levels of business confidence within the last two years, when the resources sector was at peak performance along with population growth,” said Lenzo.
The outlook for retail and industrial property however, is steady.
“These results show that now is not the time for government to pull back on its infrastructure and budget commitments” said Lenzo.
A number of factors may be behind the softening sentiment.
These include:
<ol>
<li>Increases in property taxes 
</li>
<li>Uncertainty in the provisioning of vital infrastructure 
</li>
<li>Lack of clear vision for continuing the growth of the state</li>
</ol>
However, positives may be coming in the shape of the sale of underutilised land assets and further planning reforms, he said.
“The worrying decline in business confidence in the property sector highlights the importance of fast tracking government land sales to enable the private sector to step in and grow the State through property investment and development," Lenzo claimed.
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Negative sentiment in Western Australia continues: ANZ/Property Council Survey

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A petition on Change.org to toughen the regulations for foreign investment in Australia has close to 6,000 signatures.
With supporting information from Today Tonight and The Australian, <a href="https://www.change.org/p/the-executive-members-toughen-the-regulations-for-foreign-investment-in-australia?alert_id=HEtLpxcPaJ_FP7OUYEuxludYFTqMcgLFq%2FQT%2FI%2BGnc6gHRzp7hGsEIfi%2Fl9KeHPyJgeOw2P56ks&amp;utm_campaign=159819&amp;utm_medium=email&amp;utm_source=action_alert" target="_blank">the petition</a>, launched by Simon Hosking, noted that he is unable to purchase property in China, Japan and many emerging economies.
“I am not suggesting no foreign investment, but a more thorough testing of foreign buyers and purchases. Also, a toughening of regulations by the Foreign Investment Review Board,” he writes.
The petition, which will be sent to the executive members of the Foreign Investment Review Board (FIRB), asks for the introduction of more thorough testing of foreign buyers and their purchases, the scrutinising of each purchase for irregularities and the toughening of regulations surrounding foreign investment in Australian properties.
Signed 5,449 times at the time of writing, it is aiming for 10,000 signatures. Update: It is now seeking 25,000 signatures and is just shy of 6,000 in total.
Reaching 5,000 signatures yesterday, Hosking wrote that the demographic in Australia is rapidly changing.
“The Foreign Investment Review Board is either politically unwilling or incapable of defending and protecting the sovereignty of this country. If you observe FIRB's behavior, you definitely notice their stubborn refusal or ineptitude to slow the surge in what “appears” unregulated foreign buying,” he said.
“Clearly, foreign interests are taking advantage of this ineffectual regulatory authority and inadequate policing; leading to gazumping, irregular bidding, laundering cheap offshore funds, fake identities, fraudulent purchasing tactics, etc…Given what we know about the state of the market, and that locals are being priced out, by overseas purchasers. The Foreign Factor is a critical issue. [sic]”
Pointing to limited supply he said that "continue and relentless overseas investment in our market is driving prices higher".
Comments from those signing include fears that future generations will never be able to afford a home, concerns about the sale of arable farming land to offshore buyers and others saying it should be a two way street with the ability to purchase overseas.
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Petition to toughen FIRB regulations at almost 6,000 signatures

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Building activity for home starts is at its highest in 20 years, but there’s an obvious downside, explains Housing Industry Association senior economist Shane Garrett.
Pointing to 2012 when activity was low, he said that breaking through the 180,000 starts mark by this time was beyond even the most optimistic of expectations.
However, there’s no avoiding the negatives.
“The multi-unit dwelling segment saw a sharp fall during the second quarter of this year, with detached house building also nudging down a little,” warns Garrett.
“On the renovations side, the volume of work done also fell, with a 3.0% reduction in activity during the June 2014 quarter.”
During the June 2014 quarter, new housing starts clocked in at 45,527 in seasonally adjusted terms. While this is a 6.9% drop on the previous quarter, the 2013/2014 starts totalled 180,833 – the highest 12 month total since March 1995.
During the June quarter, detached house commencements dropped by 1.1%, while multi-unit dwellings dropped by 15%, when considering seasonally adjusted figures.
With their recent estimates pointing to 186,000 new dwellings required each year until 2050, he notes that the figures are still short.
“Even in such a strong upturn, we are still short of this requirement today. This is a stark illustration of the serious supply-side issues which will need addressing,” he said.
June 2014 saw new home starts declining in most states. In the ACT, New South Wales and Victoria the drops were most pronounced with a 48%, 12.3% and 3.3% decline respectively. Queensland and South Australia fell modestly, by 1.3% and 1.7%.
Meanwhile, Tasmania, the Northern Territory and Western Australia saw an uptick by 28.7%, 18.3% and 2% respectively.
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Home starts highest in two decades but sharp downside clear: HIA

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Stephen Koukoulas, has stirred some readers up on Twitter.
<a href="https://www.propertyobserver.com.au/https://twitter.com/TheKouk/status/522334312637558784" target="_blank">The Kouk asks</a> why there’s so much paranoia around foreigners paying high prices for houses when 99% of iron ore dug up is sold to foreigners as well.
<img src="/images/2014/10/16/Picture%203.png" alt="">
Many were quick to respond to say that the two are not comparable issues.
Bullion Baron said “last time I checked Australians don’t need to live in an iron ore so the price of it is of less consequence to the average family.”
Meanwhile, David Scutt tweeted that the iron ore 2011 supply deficit caused price distortions, massive over-investment and a “supply glut years later”.
However, Shervin D’Aguiar said that supply side fixes the housing problem, noting that foreign buyers, negative gearing and the first home owners grant are all “side distractions”.
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99% of ore goes to foreigners, why the housing paranoia?: Tweet of the day 

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South Yarra’s 126 Walsh Street is Neometro’s latest development.
Carr Design Group and MA Architects collaborated on the design that will see four luxury residences, each across a single level with outdoor living spaces.
In total, there are three 3 bedroom, 3 bathroom apartments, and a two bedroom, two bathroom apartment on the top floor. The average size is 300 square metres.
<img src="/images/2014/10/16/13%20External_small.jpg" alt="">
Images supplied.
Three of the four are already sold, prior to completion, with one remaining.
The construction was completed this month, with Neometro design director Jeff Provan noting that they’re marketing it towards downsizers.
“This project was about creating four homes rather than apartments. We have delivered on that, providing generous hallways, expansive living areas along with a choice of outdoor areas in each residence that offer garden aspects or city views,” said Provan.
The apartments include front verandahs with shutters, and green awning around the ground level apartment’s outdoor space.
Residents are taken to their apartments through a secure lift, and a number have fireplaces, wine storage and a scullery.
Some include home offices, powder rooms and walk in wardrobes.
“These residences aim to raise the benchmark for apartment living and show people that downsizing or choosing an apartment over a traditional house doesn’t have to mean compromised living,” Provan said.
Property Observer understands that the final apartment is seeking buyers in the mid-$5 million bracket.
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Neometro reveals newest South Yarra development

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Meriton’s Epping Park, their biggest northern district project, has now launched with 800 apartments in a precinct of 17 buildings. Around 600 apartments have already sold with residents moving in.
The 17 apartment blocks range from three storeys to six storeys and will include a retail store, childcare centre, tennis courts, gymnasiums, lap pools, playgrounds and barbeque areas.
The plaque for the masterplanned community, previously the site of Channel Seven studios, was unveiled by John Alexander, federal Member for Bennelong.
The precinct is within Meriton’s $1.2 million bushland reserve.
Meriton’s managing director Harry Triguboff said that they always celebrate when they are near to the completion of the building, rather than the beginning or end of the process.
“We are immensely proud of Epping Park and believe that these apartments will continue to bring prosperity to what is now a top-tier suburb,” said Triguboff.
Mainly two bedroom open plan apartments are available in <a href="https://www.meriton.com.au/eppingpark" target="_blank">Epping Park</a>, as well as some one bedroom, three bedroom and a few four bedroom apartment offerings.
All apartments have six-star thermal ratings.
Completion is expected in early 2015, with stage three currently selling off the plan.
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Triguboff’s biggest northern district project, Epping Park, launched

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The third quarter 2014 statistics for Australia’s national office markets have been released by JLL, and it appears that it’s a largely positive story, with net absorption at a positive of 19,800 square metres over the quarter and the national CBD office market vacancy rate holding steady at 12.4%.
Over 2014, business conditions did improve as job advertisements trended higher, explains JLL national director of research Andrew Ballantyne.
“However, the start of the 2014/15 financial year appears to have been the catalyst for increased tenant enquiry and activity,” said Ballantyne.
A third successive quarter of positive net absorption was recorded for Sydney, at 15,100 square metres, with Melbourne also leading the recovery.
Other markets have been less positive, with resource-dependent Brisbane and Perth recorded negative absorption over the quarter and increasing vacancy rates.
However, Sydney’s recovery isn’t being led by the traditional large office space occupants, the legal firms and finance companies.
Instead, it’s technology and related firms expanding, explains JLL head of office leasing New South Wales and Australia Tim O’Connor. In particular, North Sydney is exposed to these businesses.
“Sydney is following the same trend as east coast US office markets – technology firms are expanding, upgrading and locating themselves in core locations alongside traditional users including investment banks. LinkedIn has committed to relocate to 1 Martin Place and will occupy space in the same building as Macquarie,” said O’Connor.
Despite this, incentives remain high at 30% in Sydney CBD.
“Tenants have had the luxury of time in the Sydney CBD over the past three years. We only have to see a few instances of tenants being unable to secure their first choice of accommodation before two things happen – the first is that decision making timeframes begin to reduce and the second is there will be downward pressure on incentives,” he said.
Meanwhile, Melbourne is undergoing a round of centralisation.
“Viva Energy and Pragmatic Training both committed to CBD space over the quarter. The acquisition of office stock with residential conversion potential in St Kilda Road will support further centralisation over the next two to three years,” he said.
<img src="/images/2014/10/15/ev.owa.jpg" alt="">
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Start of new financial year the “catalyst” for increase office enquiry: JLL

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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