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An area's vacancy rate is an important detail, helping you shape your initial picture of the area.
Changes and trends in the vacancy rate and how it compares to other areas will help you consider whether that suburb is the best decision for you. If you're unsure about how to use this figure, start with our quick explainer about <a href="/expert-insights/what-is-a-vacancy-rate-investment-terms-explained">what a vacancy rate is and what it measures</a>. High vacancy rates can be caused by a number of things, like a surge in stock.
Property Observer looked to SQM Research's statistics to see where, across Victoria, the vacancy rates are highest. To see vacancy rates for a specific suburb, you can see <a href="https://sqmresearch.com.au/graph_median_rent_weeks.php?region=nsw%3A%3ASydney&amp;type=c&amp;t=1" target="_blank">SQM Research's free data online</a>.
Here are ten to know from the list.
<ol>
<li>
<a href="/news">Southbank</a> 8.3% 
</li>
<li>
<a href="/news">St Leonards</a> 6.4% 
</li>
<li>
<a href="/news"> Docklands</a> 5.5% 
</li>
<li>
<a href="/news">Melbourne (city)</a> 5.1% 
</li>
<li>
<a href="/news">Travancore</a> 5.0% 
</li>
<li>
<a href="/news">St Kilda</a> 3.9% 
</li>
<li>
<a href="/news">Parkville</a> 3.7% 
</li>
<li>
<a href="/news">South Yarra</a> 3.6% 
</li>
<li>
<a href="/news">Elwood</a> 3.1% 
</li>
<li>
<a href="/news">Connewarre</a> 2.9%</li>
</ol>
YOU MIGHT ALSO WANT TO READ
<a href="/expert-insights/buying/mining-town-vacancy-rates-mean-that-its-wise-to-wait-and-watch">Mining town vacancy rates mean that it's wise to wait and watch: Terry Ryder</a>
<a href="/news/nsw/which-new-south-wales-region-has-the-lowest-vacancy-rate-and-its-not-sydney">Which New South Wales region has the lowest vacancy rate? (And it's not Sydney)</a>
Note: Some of these numbers have been amended from initial publishing due to data updates
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jduke-EHk3XBmHkn

Victoria's highest vacancy rates: 10 suburbs topping the list

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Spring buyers are coming out in force, and competition is still high in many markets this busy season.
The Property Investment Professionals of Australia (PIPA) has created a spring purchasing checklist for home buyers and investors, to encourage thoughtful buying decisions.
PIPA’s Ben Kingsley warns that while well-selected real estate is an opportunity for wealth creation, all transactions should be approached with due diligence.
“Not only should investors ensure any purchase fits in with their long term investment goals, but it’s important to be aware of unscrupulous operators, out to make a buck at the expense of innocent consumers,” he said.
Here’s their five-step spring purchasing checklist:
<ol>
<li>
Be aware of dodgy operators Steer clear of experts who don’t disclose how they earn their income. Be wary of those encouraging you towards a “one size fits all” approach, without considering your unique circumstances. Pushes to ‘act fast’ should have your alarm bells ringing. 
</li>
<li>
Do your research You must educate yourself as best possible. Consider the big picture investment strategies, as well as local property knowledge. 
</li>
<li>
Differentiate between education and sales pitch Improving your skills and knowledge about investing and managing property will help you avoid the unscrupulous operators. Educational seminars can be good, but be wary of the “sales pitch”. Consider reading materials, video presentations and similar that offer real education. 
</li>
<li>
Think long-term, not short-term Property investment is, generally speaking, a long-term investment. You should be thinking about buying and holding with a “bigger picture” in mind. Many investors follow emotions primarily, rather than their mind, and can encounter problems as a result. Consider each purchase a ‘stepping stone’, and ask how it will add to your overall goal. 
</li>
<li>
Seek professional advice Qualified advisers to work with you to develop long-term plans can be invaluable. Look for those willing to help you identify the right strategy fitting with your own wealth creation goals and aspirations.</li>
</ol>
YOU MIGHT ALSO WANT TO READ
<a href="/expert-insights/buying/six-tips-you-need-to-know-about-buying-off-the-plan">Six tips you need to know about buying off the plan</a>
<a href="/expert-insights/finance/top-five-legal-tips-for-buying-property">Top five legal tips for buying property</a>
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PIPA’s five steps to spring purchasing success

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Parking is a hot topic for apartment developments. Some see current minimum car space requirements in developments as necessities and others see them as restrictive.
This makes the new planning guidelines crucial for ensuring a practical approach for apartment living across Sydney.
The Urban Taskforce says that they’ve been involved in the development of the new guidelines for apartment living, which sees a proposal to reduce car parking requirements for apartments within 400 metres of a rail station.
In fact, as Property Observer  reported yesterday, the <a href="https://propertyobserver.com.au/forward-planning/investment-strategy/politics-and-policy/36075-cheaper-new-sydney-apartment-drive-as-compulsory-car-spaces-scrapped" target="_blank">reductions will see apartments within these areas requiring no car spaces,</a> under the draft guidelines announced by Pru Goward, who said<a href="/expert-insights/investing/cheaper-new-sydney-apartment-drive-as-compulsory-car-spaces-scrapped"> </a>this may see the prices of new apartments reduced by $50,000 as a result. These guidelines are likely to cover 22 council areas.
Urban Taskforce chief executive Chris Johnson says many apartment dwellers have a clear and obvious preference to use their local public transport.
“The minimum requirements still allow more parking if the market supports this,” says Johnson.
“The previous design code had been over ridden by some councils wanting to set their own standards. The new amendments to the State Environmental Planning Policy makes it clear that council development control plans cannot be inconsistent with the Apartment Design Guide,” he says.
He notes that this applies for specifics such as balconies and solar access, as well as other criteria.
“The planning policy specifically identifies standards that cannot be used as grounds to refuse development consent including ceiling height, apartment areas and car parking provisions,” he says.
Above ground parking is an area they want to consider in detail, due to prohibitive costs of below ground parking.
This, says Johnson, may require the government to review the impact of floor space ratio requirements in this area.
“It is important that the state government sets these standards rather than allowing each individual council to have separate controls,” he says.
The <a href="https://planspolicies.planning.nsw.gov.au/index.pl?action=view_job&amp;job_id=6692" target="_blank">guidelines are currently open for public comment</a>.
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Sydney’s floor space ratios for apartment car parking needs consistency: Urban Taskforce

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Surry Hills’ Carrington Hotel premises at 563-565 Bourke Street is up for sale as a freehold purchase with vacant possession. Listed earlier this month, it's set for auction on 18 October through LJ Hooker Commercial.
The hotel, circa 1877, has 2B residential zoning with existing use rights for a pub, and<a href="https://sydney.ljhcommercial.com.au/8ZHKR" target="_blank"> the listing suggests</a> that there are many options for a site redevelopment and a chance to “reinvent a Surry Hills icon”. It was previously listed in February through a for sale by expressions of interest campaign through CBRE.
The hotel's listing suggests it could continue functioning as a pub/restaurant or be redeveloped into:
<ul>
<li>A combined retail/residential space 
</li>
<li>Corporate headquarters 
</li>
<li>A residential home of four or five bedrooms and three bathrooms, potentially creating “what would be one of Surry Hills' grandest residential properties”</li>
</ul>
There are concept drawings available for some of these configurations.
LJ Hooker Inner City provide concept images, and a number of potential floorplans, including one with a pool, with their listing of the property (pictured below). It notes that these are not DA approved.
<img src="/images/2014/09/24/resiprop2.jpg" alt=""> 
“The Carro” as it was more informally known, and restaurant Chica Linda, ceased trading on 31 August after three years of operation. It was a Spanish-themed restaurant, with a tapas menu later refurbished to include Central and South American dishes.
Chica Linda only opened in May this year and at the 2014 Australian Bar Awards they were awarded Pub of the Year at the State Awards and a finalist for Pub of the Year National.
Sydney’s Broadsheet quoted head of the Drink’n’Dine group Jaime Wirth as saying that the landlord had been wanting to redevelop the site for some time, although now it appears owner Greg Magree's Magree Corp are passing the opportunity along. Porteno, The Norfolk and The Forresters, all of which are in Surry Hills, remain in their portfolio along with their two Fratelli Fresh outlets. They purchased The Carrington in April 2011 under company name Carrington Property Holdings Pty Ltd.
Wirth also pointed to a downturn in trade over the past six months and a restriction of the licence to use the upstairs levels as other reasons they’ve determined to focus on their other venues.
The 273 square metre land parcel, with 708 square metres internally over two levels, has three street frontages, a basement/cellar and parking potential. It has period details throughout.
The redevelopment potential is a source of fascination for many past patrons and, potentially, for investors. One asked on Facebook: “Why the close [sic] will it be units or another boozer?” 
Seems we'll have to wait and see.
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Carrington Hotel for sale, but what will the reinvention of the Surry Hills icon look like?

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The iconic Oxford Hotel’s premises are up for sale providing a unique opportunity in Sydney’s Darlinghurst. However, it appears that the venue will still keep the same tenants.
The <a href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-darlinghurst-501298311" target="_blank">134 Oxford Street located Oxford Hotel</a> has a long-term anchor tenant providing 70% of the rental income stream.
The property listing, through JLL, notes that it includes a number of beneficial aspects, including an irreplaceable rooftop signboard approved in perpetuity “never to be repeated” and a rare 24-hour hotel licensed trading approval. It notes that it is “impossible to get approval for these anymore in Sydney”.
The Oxford Hotel spans four levels, including two bars, a cocktail lounge and a live performance area. Currently, the venue is managed by Pelathon Management Group.
It includes 21 gaming machine entitlements, owned by the lessor, which has an estimated value of approximately $2.5 million when combined with the hotel licence.
The corner location is on Taylor Square and provides future retail and commercial uses.
In 2007, the property was valued at $36 million and covers 1,050 square metres. In January 2015, the hotel is expected to undergo a $500,000 Capex refurbishment programme by the tenant.
It is up for auction on 21 October.
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Oxford Hotel, Darlinghurst premises up for sale

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Those expecting an uptick in the office market across 2014 and 2015, particularly in terms of tenant demand, will not be disappointed, according to DTZ’s forecast.
DTZ’s latest Sydney CBD Offices research alert notes that even in their most severe downturn scenario, the net absorption rate remains positive, though well below baseline.
However, this will be a slow and steady situation with out-performance not expected. Risks are also expected to continue, with a prospective financial crisis in China as a result of unsustainable credit growth in their property sector.
When the supply cycle closes in 2017/2018, tenant demand is forecast to push rents up from 2% to 5% depending on the forecast scenario. Late 2016 will start to see the situation become neutral for tenants, while the present environment offers them the choice of the market.
Property Council of Australia figures are already pointing to a shift. For instance, over the two and a half years to the first half of 2013, net absorption was 37,000 square metres. However, in the 12 months to the first half of 2014, net absorption totaled 57,000 square metres due to a resurgence in the IT sector.
Office supply, however, is one of the biggest aspects of the Sydney market analysis provided by DTZ. With large scale additions and withdrawals from the market, the timing is crucial in determining the performance of the market. Supply is expected to strongly increase, with more than 700,000 square metres planned for between 2015 and 2018, which exceeds the long-term 140,000 square metre per annum average. This is due to large projects, such as International Towers Sydney and George Street-located projects.
The number of offices set to be permanently removed from the market is also noted, as they undergo redevelopment into residential and even hotel offerings – often by offshore purchasers.
They record almost 275,000 square metres of secondary-grade office space which is expected to be removed from the office market over the medium term, all for alternate uses. You can see their locations on the map below. Much of this appears to be in mid-town.
 <img src="/images/2014/09/24/chart-sept-24-one.jpg" alt="">
In Sydney, developers are looking to get a foothold in the profitable residential market, snapping up lower grade stock for this purpose.
Just last week, Property Observer reported that <a href="/expert-insights/investing/cities-facing-imminent-shortage-of-office-development-sites-colliers">Colliers International’s latest reports forecast cities Australia-wide facing an imminent shortage of office supply due to these redevelopments</a>.
Despite this, 303,000 square metres of additional stock is expected between the second half of 2014 and the end of 2018, while the outlook remains stronger than in recent past years.
“In line with the baseline forecasts, tenant demand is expected to increase and diversify beyond its current limits of the IT and Telecommunications sector, as economic recovery gathers momentum,” the DTZ report explains.
Vacancies are expected to remain at a range between 8% and 11.3%, even as rents grow. The resurgence, it appears, is in its infancy.
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Sydney's office market can withstand even worst scenario: DTZ

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A 27 hectare site on College Road, Berrimah in the Northern Territory has been released for the development of 50 to 60 industrial lots.
The site’s works are expected to begin in 2015, with sales to follow.
Northern Territory Minister for Lands, Planning and the Environment, Peter Chandler, said that there is a well-known historic lack of residential land in the area, but there is also strong demand for industrial land.
“The Country Liberals are leading a nation-wide push to develop Northern Australia and companies are falling over themselves to invest in the Territory,” Chandler said, pointing to Southern Steel’s opening of operations at East Arm, close to this new site.
“It is important that enough land is released so we can capitalise on this investment potential,” he said.
Their aim is to secure a pipeline of major projects to break the “boom and bust cycle of the economy and support sustained growth”.
They have opened a<a href="https://www.lands.nt.gov.au/land-release/College-Road-Industrial" target="_blank"> public request for proposal process</a>, which closes on 1 December. A briefing will be held on 1 October.
The industrial subdivision site is expected to help boost new and existing businesses and provide further employment options. It is 26.8 hectares in size, zoned GI (general industry) and 10 kilometres from both Darwin and Palmerston.
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Northern Territory land released for industrial development

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Six new residential projects are set to be launched on the Gold Coast within the next 60 days, marking the beginning of a new surge in development in the area, according to Colliers International.
Director of residential at Colliers International, Tony Holland, called the Gold Coast the most undervalued property market in the country at present, with a growth phase around the corner.
This, Holland said, is a continuation on from the demand and growth seen across Sydney, Melbourne and now Brisbane.
“The number of cranes in the sky is likely to double in six months’ time with a number of developers now moving forward with launching their projects to market in the next 60 days,” he said.
These are the six residential developments that Colliers are going to be selling in the coming weeks:
<ul>
<li>Beachside highrise tower featuring 219 apartments in central Broadbeach 
</li>
<li>Residential development of 386 apartments, overlooking the Glades Golf Course Robina 
</li>
<li>Southport CBD highrise tower featuring 221 apartments 
</li>
<li>Land and villa estate at Hope Island 
</li>
<li>Residential land estate at Kingscliff in Northern NSW 
</li>
<li>Residential villa development at Casuarina Beach</li>
</ul>
However, it’s not just the projects themselves that will be behind a surge, but the reasons for their projects and the drivers of developer confidence that have seen them acquire the sites over the past three to five years, obtain development approval and then hold off waiting for the right time to launch. “They can see that the time is right, with new apartment supply at 30 year lows, combined with record low interest rates, a buoyant Sydney, Melbourne and Brisbane property market and ever increasing demand from the Asian market,” he said. The level of activity that will be driven on the Gold Coast has not been seen since 2007/2008, he said. “In addition to these releases, there are a number of projects expected to launch during 2016, few of which are located along the traditional beachside strip. However Southport is another area that has attracted significant developer activity, after the Gold Coast City Council declared it a Priority Development Area (PDA) late last year.”
Developers' confidence of is in part due to the now complete light rail, the currently under construction Commonwealth Games 2018 infrastructure and announced plans for a $345 million hotel tower at Jupiter’s Casino by Echo Group. Further infrastructure, including a $300 million redevelopment of Pacific Fair Shopping Centre, and the <a href="/expert-insights/buying/after-cup-of-tea-for-pm-abbott-wang-jianlin-commits-to-jewel-surfers-paradise-development">Jewel development from China’s Wanda Group</a> and Ridong Group, are also reported confidence builders, with the planned Wavebreak Island redevelopment with potential second casino a further potential boost.
YOU MIGHT ALSO WANT TO READ:
<a href="/expert-insights/buying/now-looks-like-a-good-time-to-buy-a-gold-coast-investment">Now looks like a good time to buy a Gold Coast investment:</a> Michael Matusik <a href="/expert-insights/buying/wave-of-investors-crashing-gold-coast-auctions-buyers-agent">Wave of investors crashing Gold Coast auctions: Buyer's agent</a> <a href="/expert-insights/investing/gold-coast-enters-growth-phase-but-is-it-really-a-good-place-to-invest">Gold Coast enters growth phase, but is it really a good place to invest?</a> Terry Ryder answers
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Six residential projects launching in 60 days setting the Gold Coast up for a surge: Colliers

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The general consensus is that the next movement we’ll see from the Reserve Bank of Australia will be an increase.
The main question is ‘when?’
Finder’s <a href="/expert-insights/finance/experts-predict-no-interest-rate-change-tomorrow-finder">regular monthly RBA survey saw all the experts surveyed in September opt for the rates on hold prediction</a>, which unsurprisingly turned out to be correct.
Interestingly, more than half of those surveyed predicted the increase would come in the second half of 2015.
Not in agreement with this general prediction is ANZ. In the Finder survey, Warren Hogan tipped an increase in the second quarter of 2015, as did three others.
Now ANZ have re-confirmed their opinion on a potential interest rate rise.
ANZ Research's David Croy noted that they are actually expecting three hikes from the RBA next year, in May, June and November.
Other forecasters are predicting that a rate rise may come even sooner.
Nicki Hutley of Urbis, predicted a rise as early as December this year.
“The Australian economy is still seeing growth a little below par," said Hutley. "Inflation is picking up but not yet alarmingly so... so the RBA won’t be in any hurry to move,” she said at the beginning of the month. However, she did note that the New Year is also an option for a rise.
10 of the 25 surveyed expected an increase in the first half of next year. This has been an opinion held for many months now, with <a href="/expert-insights/finance/no-july-rate-increase-look-to-next-year-instead-me-bank">ME Bank noting in June that rises are not expected until 2015</a>.
YOU MIGHT ALSO WANT TO READ:
<a href="/expert-insights/finance/how-to-prepare-for-an-interest-rate-increase">How to: Prepare for an interest rate increase</a>
<a href="/expert-insights/finance/interest-rates-crash-course-whats-the-relationship-to-the-property-market">Interest rates crash course: What's the relationship to the property market?</a>
<a href="/expert-insights/finance/10-things-to-know-about-the-current-interest-rate">10 things to know about the current interest rate</a>
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More than one interest rate rise on the cards for 2015: ANZ

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Would you want your investment property to be rated by your past tenants? It’s time for this to happen, according to the Tenants Union of Victoria.
They’re looking to launch Rate Your Rental, via a crowdfunding Pozible campaign, what they’re calling the Trip Advisor of residential rental properties.
The <a href="https://www.propertyobserver.com.au/https://www.pozible.com/project/183360" target="_blank">newly launched campaign</a>, which as of writing has raised $979, requires $30,000 in funds to build the site, as quoted by a web developer. It has 59 days to achieve this target.
The new site, RateyourRental.com.au, will allow tenants to check past tenants’ ratings before they’ve signed the lease. It may include details about your property such as horrible neighbours, mould issues, high electricity bills or “that your new home is structurally unsound and sinking”. These issues, they note, are those that aren’t present at inspection.
The ratings will be through a star-rating system, out of five, for a number of aspects of the property. Comments around qualitative points of that rental, including outstanding repairs, standard of fixtures and fittings, heating, air conditioning and energy efficiency, will also be included.
Perhaps it will encourage some landlords to up their game; perhaps it will allow a platform for disgruntled tenants to vent their spleen.
Either way, it’s unclear if investors can “opt out” of having their property on the site – the internet has a long memory and when they come to sell those ‘bad neighbours’ that may have long moved could put off prospective future buyers.
The Tenants Union of Victoria is calling it a “game changer” – assisting tenants, saving them valuable time and money.
Advertising options are available on the site, including for those who donate $2,500 and over.
With subscriptions offers available, it appears that, should funding be received, a January 2015 launch is expected. They’re also currently looking for volunteers, advertising for bloggers to share the message, moderators to review the comments on the new site and web developers.
The URL is currently registered to White Rabbit Studios Pty Ltd.
Similar websites currently exist, although appear largely unused in Australia to date - this includes <a href="https://www.dontrentme.com/" target="_blank">Don’t Rent Me.</a> More popular overseas options, such as RentalRaters, are gaining some traction.
CEO of the Tenants Union of Victoria, Mark O'Brien said that renters have been at the mercy of "lousy landlords and dodgy real estate agents" with this new site to redistribute some power back to tenants by replicating the approach in Australia.
 “There are over 1 million tenants in the private rental market in Victoria – Rate your Rental will give them the benefit of checking past ratings on a property before they’ve signed a lease. We think it will start to tip the balance of power back towards tenants, but we need your help to make it a reality” said O’Brien.
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Tenants Union of Victoria launches crowdfunding campaign to finance property rating website

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

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A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

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The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

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North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

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McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

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A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

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Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

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Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

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More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Jennifer Duke

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