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The Reserve Bank of Australia (RBA) has kept the interest rate on hold today at 2.5%. Interest rates have remained at a record low since August 2013.
ME Bank general manager markets, John Caelli, said that the focus from the RBA remains on providing conditions to support business investment and unemployment, with other options for dealing with house price increases.
"The RBA has flagged that measures other than interest rates may be more appropriate to address the issue of house prices," said Caelli.
RP Data head of research Tim Lawless noted that softer readings for housing market conditions over September may have eased some of the concerns that the RBA held about the property market, however the trend does remain strong.
While a 0.1% growth figure was recorded across the capitals for the month of September, the quarter still recorded a 2.9% increase.
He said it will still be important to monitor the trend rate of growth across Sydney and Melbourne.
"Investor interest in these markets has been significant compared with other capital cities and compared with historical ratios of owner occupier loans to investor loans," said Lawless.
"If investor interest in these markets doesn't moderate we can expect the RBA, in conjunction with APRA, to intervene via prudential regulation of the banking sector to attempt to slow down the level of investment lending activity in the market," he said.
This intervention, he suggests, may be higher risk ratings or capital for investment loans.
"In any event, the goal would be to slow the level of speculative investment across the housing market, particularly in Sydney and Melbourne, alleviating the pressure on the RBA to raise interest rates in order to dampen housing market conditions," he said.
Michelle Hutchison, money expert for Finder, noted that all the experts recently asked in their Reserve Bank Survey said that they are expecting a rise on the cash rate next year.
"With a cash rate rise on the horizon, it could be a good time for borrowers to take advantage of the mortgage season promotions currently available by home loan lenders, which could help them get onto the property ladder so they can start preparing for rate hikes ahead," she said.
"We're also still seeing home loan interest rate movements, with 94 fixed home loans that saw reduced rates by as much as 0.70 percentage points over the past month, and 23 fixed rates increased by up to 0.30 percentage points. Interestingly, 27 variable rate home loans have fallen in the past month, by up to 0.30 percentage points from ANZ, My State, IMB, Bendigo Bank, Resi, Suncorp Bank, Wide Bay Australia and State Custodians."
She noted that it's a good idea to compare home loans and promotional offers available, but to be wary of the fees involved.
Caelli noted that today's announcement of a stable rate would be welcomed by borrowers, with a recent ME Bank survey recording 49% paying down their home loan faster with additional payments. Despite this, 42% said they were just managing to pay the minimum requirement.
"While any future rate increases are likely to be gradual, borrowers just managing repayments now will need to make financial adjustments when this happens," he said.
"We're also noticing an increase in borrowers taking out fixed term loans to protect themselves from potential RBA rate increases."
LJ Hooker chief executive officer Grant Harrod said that low rates have assisted in offsetting the fall in mining investment, and that the start to the spring market has been encouraging.
"However, while markets such as Sydney and Melbourne have performed well, there are many other markets which have softened or experience more modest result," said Harrod.
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RBA on hold as they consider other measures to deal with house prices

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Finder.com.au’s Monthly Reserve Bank Survey of 28 leading economists and experts looks to shed some light on interest rates and the thoughts of the Reserve Bank. Here are comments from 10 of their experts on the current rate environment. Jonathan Chancellor, Property Observer
“The recent Sydney house price boom, after years of little growth, is not a sufficient trigger for the bank to make any move. The domestic economy appears to be strengthening, but the international outlook looks tricky to draw any firm conclusion ... It was interesting that the RBA has signalled it was looking at macroprudential moves to help contain the current property exuberance. I still reckon they will stick with simply stepping up its public warnings around housing prices and investor activity. A reasonable conclusion is that Australia is unlikely to introduce the New Zealand style of direct macro prudential controls.” Bill Evans, Westpac
“We do not expect to see the Reserve Bank changing rates anytime over the next year. Indeed, the Bank once again confirmed its intentions in its September board minutes for a period of stability in rates. Westpac expects that, with our expectation of a more favourable economic environment than is anticipated by the Reserve Bank, the next move in rates will be a tightening but not until the second half of 2015, with August currently appearing to be the date for the first move.” Angus Raine, Raine &amp; Horne
“Inflation is still within the acceptable 2-3% range, and unemployment is holding steady at &lt;5%. The RBA wants to see that the employment market has stabilised before it increases rates. Once it sees evidence that the unemployment rate has plateaued, it’s fair to expect that the RBA will begin to tighten monetary policy. The next cash rate change will be impacted by the global geopolitical climate. If tensions worsen in the Middle East and the Ukraine, it might prompt the RBA to hold off, while it will continue to monitor the US and EU recovery or lack thereof.” Grant Harrod, LJ Hooker
“The economy continues to perform as expected by the RBA. Employment and private investment remains the chief concern, however, these should be helped by the recent softening of the Australian dollar. Housing markets continue to remain buoyant with the growth seen in Sydney and Melbourne having a ripple effect out to the other, more affordable, capital city markets. The associated growth in construction is also helping rebalance the economy. However, price growth and investor demand for housing, especially in Sydney and Melbourne, has seen the RBA raise the prospect of introducing macro prudential measures to help de-risk the market.” Shane Oliver, AMP
“While housing related indicators are strong, providing a reason not to cut rates further, the rest of the economy is sub-par. Uncertainty remains high regarding how quickly the mining investment boom will unwind, inflation is benign and the Australian dollar remains too high – all of which suggests it's premature to start raising rates. The most recent commentary from the RBA has indicated that a period of stability in rates remains prudent. This language is likely to be dropped well before the RBA starts hiking rates.” Paul Bloxham, HSBC
“For the moment there's still concern that the labour market has spare capacity, and that they'd like the unemployment rate to be declining before they raise interest rates. By the same token, I don't think they've got scope to cut interest rates any further because the housing market continues to boom.” John Caelli, ME Bank
“We don’t expect interest rates to change in October despite the Australian dollar falling and concerns about rising house prices. The RBA’s key focus remains on providing conditions to support business investment and employment. That the RBA has flagged macro prudential tools to manage house prices suggests they may be considering options to deal with the situation beyond just interest rates. The RBA minutes continue to refer to a period of stability in interest rates and so we expect any rises in rates won’t occur until the first half of 2015.” Nicki Hutley, Urbis
“The balance of macroeconomic indicators suggest that growth has improved in 2014 and is close to trend, but is not yet accelerating sharply enough to concern policy makers. Unemployment and subdued wages will keep inflation from rising too quickly for a little longer ... It is easy to think that, because growth and inflation have been modest for a prolonged period, that they will remain so indefinitely. There is clearly momentum building in the economy however and, notwithstanding slower mining investment, this momentum will lift growth and inflationary pressures over the coming year.” Michael Witts, ING Direct
“The economy is still in transition, and despite the RBA being concerned about the housing market, they would be reluctant to increase rates given the impact on the exchange rate. Also employment data has been highly volatile over the past few months ... The action by the RBA is constrained by the action of US Fed and this will drive local timing. Also the exchange rate is a further constraint, the RBA would like to see the Australian dollar well under 90 US cents.” David Scutt, Independent Market Strategist
“The RBA will keep the cash rate steady at 2.50% in October, the fourteenth-consecutive month that this has occurred. They will keep their neutral bias and communicate that ‘the most prudent course is likely to be a period of stability in interest rates.’ While on the surface the grounds for a return to a hawkish bias seem to be building, most economic indicators have been improving, the Australian Dollar has fallen while unease towards developments in the established housing market is growing, counteracting those forces are real-negative wages growth, subdued business confidence along with a noticeable deterioration in recent Chinese economic data, something that along with recent USD strength has seen the prices for Australia’s key commodity exports fall sharply. Given that household consumption and non-mining investment will be crucial in offsetting the effects of the slowing mining capital expenditure boom in the years ahead, there are simply too many uncertainties at present for the RBA to adopt anything other than a wait-and-see approach. When, and only when, they see non-mining activity start to accelerate sharply will they begin the process of policy normalisation. If that doesn't occur, not my baseline forecast but certainly a possibility, an extended period of policy stability, or even further easing, appears likely.” Source: Finder
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10 expert opinions on interest rates: Reserve Bank Survey

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Belle Box Hill, in Melbourne's Box Hill, is the latest launch from Little Projects, offering 100 one and two bedroom apartments to market.
Designed by Plus Architecture, the development on Station Street is 14 kilometres from the CBD and will begin construction in the next few months for 2016 completion.
One bedroom apartments <a href="https://www.belleboxhill.com.au" target="_blank">start from $322,000</a>, with two bedroom apartments from $475,000 upwards. They range from 43.4 square metres to 76.2 square metres.
<img src="/images/2014/10/7/LittleProjects_BelleBoxHill_V01_Facade_cmyk_MR_ps.jpg" alt="">
Image supplied.
Managing director of Little Projects, Michael Fox, said that it provides good amenity to retail, parks, employment and education.
"Creating inviting communal spaces as an extension of residences will ensure Belle Box Hill residents can engage with each other and entertain friends and family with ease," said Fox.
This includes a ground floor dining area with full kitchen, lounge, library, private cinema room and landscaped outdoor entertainment space with barbecue facilities.
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Little Projects launches Belle Box Hill, Melbourne

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The contrasting house prices across the country have seen a two-speed housing market emerging, according to ANZ Research’s David Cannington.
On the one hand, Sydney has seen house prices continue to grow strongly over the past week. Other capital cities reported tentative increases.
Sydney, Melbourne, Brisbane and Perth’s prices all rose slightly, while Adelaide eased.
Meanwhile, prices were noted to be increasing in trend terms in Sydney, Adelaide and Perth, while an easing was noted in Melbourne and Brisbane.
“Looking ahead, steady consumer confidence and moderation in auction clearance rates in recent weeks foreshadow some modest easing in home buyer demand and likely more moderate home price gains in Sydney and Melbourne in particular,” noted Cannington.
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We’re in a two-speed housing market: ANZ

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With no rate hike expected this afternoon, according to Finder’s panel of 28 experts, there is a rate hike expected for the next three years.
The 28 experts surveyed unanimously agreed that there will be no rate change today. However all forecast a rate rise next year and many subsequently pointed to a gradual upward cycle for three years.
When will the hikes begin? June 2015.
{mijopolls 48}
This prediction, from Finder, notes that 46% of experts believe that there is a chance of an increase in the third quarter of 2015.
Here are their predictions:
<img src="/images/2014/10/7/finder1.png" alt="">
Source: Finder
And what will the new normal be?
<img src="/images/2014/10/7/finder2.png" alt="">
<div align="center"> </div>
Source: Finder
Money expert for Finder, Michelle Hutchison, said that buyers should be cautious with borrowing levels as a result.
“The finder.com.au Reserve Bank Survey sentiment revealed that many factors will keep the cash rate at the current low level of 2.50%. Inflation being subdued, the low Australian Dollar, and damage to property markets outside Sydney and Melbourne should the cash rate rise too soon.
“However, the good times for property buyers are not expected to last much longer, with our survey showing the next rate rise being forecast for June 2015, and a 21 percent chance that the cash rate will start rising from the first quarter of next year,” she said.
With a gradual increase, 11% of the panel believe the cash rate will hit the historical average of 5%. The majority expect a new normal below 5%.
This is expected to occur by 2016, according to 32% of experts, or 2017, chosen by 29%.
“Only one respondent, Chief Economist at Commonwealth Bank Michael Blythe, is expecting a ‘new normal’ cash rate level to be reached in 2015. The remaining respondents were unable to comment,” she said.
“If you’re an existing home buyer or hitting the property market this mortgage season, make sure you prepare a buffer for when interest rates rise. This is the time when you should be paying as much as you can on your mortgage, to lower the impact of higher rates.”
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Interest rates expected to rise for three years, here’s when the first hike will be: Finder

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The plans for South City Square, tipped to be one of the largest inner city mixed-use developments for Brisbane, have been launched.
With an estimated end value of $550 million, the 2.1 hectare site will include 1,000 apartments across seven towers and retail at ground level.
Located at Woolloongabba, in the Woolloongabba Priority Development Area, it’s one of a recent marks of confidence for the area.
Just last month, <a href="/expert-insights/investing/quest-opens-at-woolloongabba">Quest opened in the area</a>. Meanwhile, earlier this month, Aria paid $10 million to consolidate a site in the suburb to develop a residential project, expected to be <a href="/expert-insights/buying/aria-consolidates-woolloongabba-site">four individually designed medium rise buildings on the large site</a>.
Wolloongabba was also noted in the top three for this year in Your Investment Property magazine’s annual guide with infrastructure and urban renewal noted as signs of growth.
This development is a joint venture between Pellicano and Perri Projects, who acquired the land together in late-2013.
<img src="/images/2014/10/7/OneSouthCity_View_03_External-1.jpg" alt="">
Image supplied.
The development will occur over the next five to seven years. Pellicano Group joint managing director Nando Pellicano explained that the council had already given the first tower, with 118 apartments over 14 storeys, the green light. 
"Site works have commenced, with the first tower known as One South City expected to start construction in early 2015," said Pellicano.
"Tower one comprises a mix of designer one, two and three bedroom apartments with high-end finishes and a roof top recreation deck with a pool, spa, residents' lounge, barbeque and dining areas, sun lawn and teppanyaki bar."
DBI Design, Woods Bagot and Oculus are behind the elements of the design.
"DBI has designed the tower with orientation, natural light and views in mind. For this reason, the precinct is centred around a square which is approximately half a hectare in size. This will be a significant urban recreation space with retail activation for residents and the general public,” he said.
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One of the largest inner city Brisbane mixed-use developments revealed

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Looking at the figures in realestateVIEW’s first home buyer report, here are the six numbers that stood out.
The report was a national survey of 1,086 people, of which 44.6% were first home buyers (and those reflected in the figures below).
50.7%
The percentage of first home buyers who have children.
Over a third
The proportion of those who have not bought because they think house prices are too high.
10.7%
The percentage of first home buyers under age 30.
1/10
The proportion of those questioning whether now is the right time to buy.
15.1%
First home buyers refusing to purchase as they can’t afford their ideal location.
76.8%
First home buyers believing that the market will deliver strong or moderate growth over the next five to 10 years.
Source: <a href="https://www.realestateview.com.au/" target="_blank">realestateview.com.au</a>
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Six numbers to know about today’s FHBs

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Shelley Penn, a past president of the Australian Institute of Architects, has been announced as a winner in the 100 Women of Influence Awards for 2014.
The awards, a joint initiative between The Australian Financial Review and Westpac, recognised Penn in the Public Policy category for advocating for the architecture profession and design quality.
Current national president of the Australian Institute of Architects, David Karotkin, said that she has been an outstanding representative for the architecture profession.
“She has been a member of the Architects Registration Board of Victoria, Victoria's first Associate Government Architect, Chair of the National Capital Authority, Deputy Chair of the Heritage Council of Victoria and Principal of her own small practice for 21 years, to name just a few of her accomplishments,” he said.
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Shelley Penn, past Australian Institute of Architects president, winner in 100 Women of Influence 

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The Housing Industry Association’s New Home Sales Report recorded a lift in sales over August after weakness in July, which they say makes the decline of new home sales modest.
Housing Industry Association (HIA) economist Diwa Hopkins said that despite a downward trend in total seasonally adjusted new home sales, the 3.3% August increase has ensured that the decline is modest.
“Despite the August bounce, we still hold the view that new home sales reached their peak for the cycle back in April this year,” said Hopkins.
“The result for August was driven primarily by a strong lift in the volatile 'multi-units' sector where sales increased by 19.8%, taking this component of sales to its second highest level this cycle.”
Detached housing, however, increased by 0.5% after a decline over the previous months.
“As leading indicators of new home construction activity, both HIA New Home Sales and ABS Building Approvals are displaying a moderate downward trend,” she said.
“Current levels remain elevated by a historical standard, which is consistent with still healthy levels of new home building throughout 2014/15.”
Detached house sales increased by 11.1% in New South Wales over August, while jumping by 2% in Western Australia. Meanwhile, drops were seen in South Australia, Victoria and Queensland with 6.8%, 6.0% and 0.7% falls respectively.
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Decline of new home sales is modest: HIA

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With more than 100 buyers registering interest prior to the launch, 39 blocks were sold on the Saturday launch of Satterley's Upper Point Cook development, recording a sell out for the release.
Two thirds of the buyers were local upgraders, with the rest being divided between first home buyers and investors.
They even had groups camping out, said Victorian general manager of Satterley Property Group Jack Hoffman.
“The excitement from locals reinforces that Upper Point Cook is one of the last quality parcels of land in Point Cook with the added bonus of access to the Princes Freeway via the future diamond interchange at Sneydes Road,” said Hoffman.
“The big selling point for local residents is location and the fact you’re buying into a quality development at affordable prices.”
The house and land packages started from $380,000.
The next release, <a href="https://www.satterley.com.au/point-cook/living-upper-point-cook/" target="_blank">Hudson</a>, will see 25 blocks launched to market in the next fortnight. 
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Upper Point Cook sees first release sold out

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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