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Stage five of $200 million CityVillage, a Gold Coast development from Robina Group, has been fast tracked to bring 22 lakefront terrace homes to market.
The new offerings will be priced from $599,000, with 14 of the homes featuring three levels and many of the homes have double car garages.
More than $65 million of sales were secured in 2014, including a sell-out of 33 three bedroom lakefront terrace homes in stage four. Stage five will overlook a central lake.
They will include a courtyard on the lower level, a balcony to the main living space, three separate living areas, three bedrooms, a media room, two bathrooms and a powder room. They are on freehold land.
<img src="/images/2015/01/06/CityVillage-jan-6-one.jpg" alt="">
The masterplanned community will eventually house 500 residences, explains Robina Group director Tony Tippett.
“CityVillage continues to attract buyers who want the lifestyle benefits of being able to live, work and play in the one amenity rich location,” he said.
“The community is located in CBDRobina, which is at the geographic heart of Gold Coast City and within 250 metres walking distance of Robina Town Centre, with all its shopping, dining and entertainment offerings.”
He said that the improved market conditions across the Gold Coast are being felt.
"CityVillage is only 10 minutes drive to Burleigh Headland and the beach, it enjoys close and easy access to the M1 motorway, is 15 minutes drive to Gold Coast Airport and 45 minutes to both Brisbane Airport and Byron Bay,” he said.
Across CityVillage and Riverlily, Robina Group has secured close to $103 million in sales at the sites.
“We have been working extremely hard to keep pace with the demand across the board," said Tippett.
One of the stages of CityVillage, with 35 homes, sold out within two days. Riverlily’s 71 terrace homes released in April 2014 took three months to sell out, for $35 million.
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Gold Coast’s CityVillage stage five fast tracked

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You’ll hear investors getting excited over the concept and experts claiming they can get you it, but what exactly is ‘capital growth’? And what is the capital growth rate?
Capital growth is the increase in value of your property, or portfolio of properties, over time. Capital growth usually affects an entire area, although individual properties may be affected to different degrees.
Your capital growth is the amount that your property has increased in value by, or the difference between the purchase price (or market value price) and the current estimated value or prospective selling price. Properties in Australia have been known to more than double in value, however they have also been known to decline in value with steep falls not unheard of.
Usually, strong capital growth suburbs, or areas where the properties have increased in value strongly overall, are called ‘hotspots’ or ‘growth suburbs’. Capital growth suburb lists, and forecasted capital growth lists based on estimations by buyer’s agents, economists and even demographers, are regularly published in a number of media outlets.
When looking at the rate of capital growth, this is usually looked at on a percentage per annum basis. That is, how much capital growth did you achieve or will you achieve on average per year of ownership? As property is a long term investment and does not usually increase in value in the same rate every year, this figure is important for considering whether the property did well overall.
Some years may have achieved a 7% plus capital growth rate, easily <a href="/news/the-one-number-you-need-to-know-72">putting the property on the path to doubling in 10 years</a>. However, it may have achieved less than 2% for five years of the ownership. This paints a very different picture of the fruitfulness of holding that property. However, do <a href="/expert-insights/investing/my-basic-investment-philosophy">remember that growth compounds</a>.
What counts as a “good” capital growth rate is up for debate. Each investor will consider different figures as worthwhile investments for their portfolio, and of course rental yield is a factor worth considering as well. When considering the holding costs and take rent into account and capital gains tax, then balanced off against the capital gains leftover, this is the figure you can consider your profit. 
There are a <a href="https://www.propertyinvestortoolkit.com.au/property-toolkit/calculators-2/investment-property-calculators/capital-growth-calculator-2/" target="_blank">number of free calculators online</a> that can do the sum for you to show you the capital growth rate over time.
How much capital growth is achievable in a real estate asset can vary dramatically across the country and finding areas that deliver more growth than others is the pastime of many professional investors. For instance, <a href="/expert-insights/investing/assessing-capital-growth-potential-supply-and-demand">here’s an explanation of how supply and demand can affect capital growth potential</a>.  Remember, hindsight is 20/20.
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What is the ‘capital growth rate’? Investment terms explained

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Alice Springs’ Kilgariff, the newest residential suburb, has seen the issuing of new land titles for its first stage fast tracked by the Norther Territory government.
The aim was to fast track the masterplanned suburb to allow home building to start this month, explained Chief Minister Adam Giles.
“Local contractor Sitzler Bros has completed Stage 1 subdivision works allowing us to move quickly to get these land titles issued,” Giles said.
“This is certainly great news for the 24 buyers who have already secured their future in Kilgariff, and they can now begin construction of their new homes in early 2015.”
Over the next 20 years, the area is expected to grow into a suburb with 4,500 homes. It is also expected to include a sports oval, village centre, open space, parks and cycle paths and is being developed by Land Development Corporation.
The blocks are priced from $160,000 to $180,000, and Giles expects home buyer interest due to the price point.
Stage 1A’s interested saw an early release of 1B in November, with a further 47 home sites brought to market. The initial 1A stage included 33 lots spanning 713 square metres to 1,043 square metres. There are some blocks available for units or townhouse development.
“The Giles Government is delivering on its promise of new residential land release, faster than ever before, to meet the growing demand for new homes right across the Territory,” Giles said.
“We desperately need to add to our new housing stock to put downward pressure on prices, rents and the cost of living and Kilgariff will help us do just that.”
A new development in Whittaker Street is also expected to take place, with <a href="https://www.lands.nt.gov.au/land-release/whittaker-street-development" target="_blank">expressions of interest for the site now open</a> to opportunistic developers. The prime block of commercial land spanning 18,000 square metres has seen released images of a potential mixed-use precinct that could include a hotel and tourism precinct, residential accommodation, restaurants and retail space.
“We are keen to hear what developers might be interested in this property and what ideas they have for this prime real estate,” Giles said.
“We have an open mind about the form this project could ultimately take, but it certainly presents a chance to transform a key site right in the heart of Alice and I look forward to seeing what options are proposed.”
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Alice Springs’ newest suburb fast tracked by NT government

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In the Northern Territory, the First Home Owners Grant (FHOG) is now only available for first home buyers entering into contracts to construct or purchase a new home.
As of 1 January, Northern Territorian first home buyers will only be able to access the grant if they purchase new, providing them with a $26,000 cash incentive to construct their own dwelling.
The NT Department of Treasury and Finance notes that this is to encourage the construction of dwellings.
There is no threshold on the value of the new home purchased, with first home buyers able to buy properties exceeding the previous $600,000 limit applied to established homes.
The FHOG is not means tested.
This brings the Northern Territory in line with the majority of other states and territories that do not offer a grant for established home purchases. Many, such as South Australia, phased out their established property FHOGs in mid-2014. Western Australia still retains a modest grant, of $3,000, for eligible first time buyers purchasing established homes.
Those claiming the Northern Territory FHOG must live in the property for a period of six continuous months within 12 months of the completion of the home.
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FHOG restricted to new homes in the Northern Territory

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For home buyers looking to purchase in 2015, it may seem like you’re facing an uphill battle with rising house prices, according to EPS Property Search director Patrick Bright. He warns against falling into common traps when purchasing, but also notes that it is crucial to set yourself some goals early on in the property buying process. “There are numerous pitfalls that can take their toll financially as well as emotionally, particularly for those prospective buyers who have been searching for an ideal property for many months,” warns Bright. He explains that these could include letting a home slip through your fingers due to indecision or paying too much. Here are his five resolutions for home buyers to make this year.
<ol>
<li>
Don’t procrastinate “Probably the biggest mistake buyers make is procrastinating,” explains Bright.  “If you dither you’re increasing your chances of missing a great buy. As long as the property you have found meets your list of requirements and you’re confident you’ve seen enough comparable properties (ideally around 100) so you know where value sits then don’t hesitate. More often than not, great deals don’t last long especially in a rising market.” 
</li>
<li>
Search with finance approval “Searching without finance approval can only lead to disappointment. It’s really frustrating to watch the home you want to buy go to someone else whilst you’re arranging your finance. In any case how do you know how much you can afford if you haven’t got finance approved in writing?” He warns against signing a contract without finance approval, and the risk of losing your deposit if a bank then does knock back your loan. 
</li>
<li>
Know the area before you buy He warns that many people pay too much when they don’t know the area well. The solution is to research thoroughly. 
</li>
<li>
Don’t listen to family members or friends While acquaintances can be well intentioned, their advice may not always be sound, he warns. “Many people have such a profound fear of failure that they’d rather you did nothing than make a mistake but if you’ve done your research properly then you should have nothing to worry about.” 
</li>
<li>
Don’t make a fed up purchase Even if you have been searching for a long period of time, do not settle and buy the wrong thing. “They’re tired of looking so they buy something that partially resembles their needs list and a year or so later they want to sell it,” explains Bright.  “It is very expensive to get it wrong, not to mention all the time and effort wasted going through the process of buying and selling which will cost you around 10% of the purchase price. For a fraction of that cost you can get some professional help and more than likely buy a lot better for a lot less than you would if you handled the negotiations on your own.”
</li>
</ol>
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Five New Year’s resolutions for home buyers: Patrick Bright

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The latest demographic statistics released by the Australian Bureau of Statistics have found that population growth is slowing, however the Housing Industry Association has noted that there is still strong demand for housing.
HIA economist Geordan Murray said that the latest figures have found Australia’s population reaching 23.49 million people at the end of 2013/2014, or an extra 365,000 people.
“This is equivalent to a growth rate of 1.6% over the year. This annual growth rate is down from the 1.8% rate which applied at the end of the 2012/13 fiscal year, but is still well above the long term average,” said Murray.
“The natural increase in population (births minus deaths) added 152,173 people in 2013/14. This contribution was 6% lower than in the previous year.”
Net overseas migration slowed in 2013/2014, with 212,695 more people than those departing – about 10% less than 2012/2013.
“Compared with many other developed economies, Australia has been a star performer over the last few years,” he said.
“With shortages of skilled labour evident in many industries and a relatively strong looking economy, Australia has proved to be a very attractive destination for overseas migrants and was equally attractive for Australians who would have otherwise considered opportunities overseas.”
The strongest states for population growth over the year were New South Wales and Victoria.
“Last financial year both these states recorded their strongest annual population growth rates in over twenty years, excluding the period skewed by the GFC,” he explained.
Murray noting that the annual growth for Victoria was 1.9% and for New South Wales it was 1.5%. Western Australia, however, is the star performer with 2.2% population growth. However, this is down from 3.3% last year.
Queensland increased 1.5%, while South Australia grew by 0.9% and Tasmania recorded 0.3% growth. The Northern Territory and ACT saw growth of 1.0% and 1.2% respectively.
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Population growth slows, but property demand high: HIA

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It's now <a href="/expert-insights/buying/10-extra-months-needed-to-save-for-sydney-first-home-deposit-in-2014-bankwest">taking first time buyers even longer</a> to save for a home, as price growth in some areas makes the time to save a 20% deposit rise ever higher.
Bankwest's First Time Buyer Deposit report explains how long it takes from state to state.
<ul>
<li>New South Wales: 4.8 years (If looking at Sydney, this is at 6.7 years) </li>
<li>Victoria: 4.4 years (if in Melbourne, this increases to 5.5 years) </li>
<li>ACT: 4.0 years </li>
<li>Northern Territory: 4.1 years (In Darwin, this spans to 4.2 years) </li>
<li>Queensland: 3.8 years (4.1 years for Brisbane) </li>
<li>Western Australia: 3.7 years (For Perth, 3.9 years) </li>
<li>South Australia: 3.3 years (For Adelaide, 3.6 years) </li>
<li>Tasmania: 2.7 years (For Hobart, this increases to 3.3 years)</li>
</ul>
For more findings from the report, including the 10 LGAs where saving is quickest across the country, <a href="/expert-insights/buying/10-extra-months-needed-to-save-for-sydney-first-home-deposit-in-2014-bankwest">click here</a>.
<img src="/images/2014/12/19/syd%20bankwest%20dec%2019%20one.png" alt="">
Source: Bankwest
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How long it takes first time buyers to save by state

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Central Equity has appointed Brookfield Multiplex to construct Australis Melbourne Apartments on Little Lonsdale Street.
The Melbourne CBD development, at 601 Little Lonsdale Street, is a $135 million project from Central Equity.
The 46 level glass facade tower will include one, two and three bedroom apartments, as well as a number of penthouses in the <a href="https://australisapartments.com.au/?id=03&amp;gclid=CLWY3KvK0MICFU1wvAodYLkA1g" target="_blank">Australis </a>tower.
Residents will have access to an indoor heated swimming pool, a gym and a grand foyer with concierge.
Graham Cottam, regional managing director Victoria for Brookfield Multiplex, said that Central Equity has a relationship with Brookfield Multiplex.
"Central Equity is a market leader and pioneer in the Melbourne development arena and we are proud of our ongoing relationship," said Cottam.
In fact, they have completed 14 apartment buildings for the development company, with another three currently under construction, including Southbank Grand Apartments and Melbourne One Apartments.
These apartment developments include Southbank One Apartments, City Tempo Apartments, Mainpoint Apartments, Southbank Towers, Boulevarde Apartments, Sovereign Apartments, Melbourne Tower Apartments, Kings Park on Southbank and City Tower Apartments.
Australis is set to be a complex construction, located adjacent to Central Equity’s Melbourne One apartment tower construction site – which will be a 47 level tower.
Some apartments will include reverse cycle air conditioning and double glazing. Many will have parking available.
One bedroom apartments with a balcony and air conditioning start from $429,000. One bedroom plus study with a balcony and air conditioning are priced from $484,000.
Two bedroom apartments with one or two bathrooms are priced from $595,000.
Penthouses are available on the 45th floor, with three bedrooms and two car parks, priced from $1.65 million.
All the three bedroom apartments, including two bathrooms and a car park, are currently sold out. They were priced around the $880,000 mark.
Completion for Australis is expected for late 2016.
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Brookfield Multiplex to build Little Lonsdale Street’s Australis

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Nationwide growth in 2014 has been under scrutiny, however outside of Melbourne, Sydney and, to a lesser extent, Brisbane, growth has been subdued, according to the Housing Industry Association’s Residential Construction – Looking Towards 2015 report.
Noting that the focus on dwelling price growth this past year as “included stoking fears of a housing bubble and inaccurately labelling negative gearing as the policy of evil” the report indicates that there have been enormous and widely disparate growth outcomes across geographic areas that will likely persist into next year.
While capital city dwelling values, when calculated together, increased by 8.5% in the 12 months to November 2014, it was Sydney, Melbourne and Brisbane recording the uptick at 13.2%, 8.3% and 6.0% annual growth respectively.
“The situation was far more subdued, if not weak, in the remaining capitals, with annual growth in dwelling values ranging from 5.2% in Hobart to less than 2% in Perth, Darwin and Canberra,” the report explains.
When adjusting for inflation, the outcome is largely flat to negative. Regional Australia as a whole has also not seen any substantial value growth.
Already, a peak in April 2014 has been noted, and: “Against a backdrop of falling real household income, the rate of growth in home values is projected to trend down throughout 2015, although the trajectory would be influenced by any further reductions to borrowing costs.”
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Australia’s disparate housing market growth to continue in 2015: HIA

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The third stage of Australand’s Westmeadows development Valley Park has been released with residents now moving into their homes. The first settlements were finalised in late-November.
Having opened the sales office for <a href="https://www.australand.com.au/Projects/Valley-Park" target="_blank">Valley Park</a> in August, with an official launch day in September, more than 30 houses have sold this year with a diverse housing mix resulting in a number of local buyers.
The properties include one bedroom apartments, three, four and five bedroom houses, some freestanding, some townhouses.
<img src="/images/2014/12/18/valley%20park%20dec%2018%20two.jpg" alt="">
Craig Muse, development director of built form at Australand, said that it is located 17 kilometres north west of Melbourne CBD. On completion is will be a 320-lot development.
“The fastest to sell has been the Wattle – a three-level, three bedroom home that features two living rooms and decks on its first and second floors,” said Muse.
“Popular with owner-occupiers, buyers tell us the Wattle’s size is great value for money, especially when compared to similar homes in other areas within the northern corridor.”
<img src="/images/2014/12/18/valley%20park%20dec%2018%20three.jpg" alt="">
The Wattle houses also feature views of the valley, with some houses maximising this with spacious balconies.
One bedroom apartments are priced from $295,000, with three bedroom homes from $395,000.
There is currently a proposed multi-use community centre with management to be introduced to build the community.
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Australand’s Valley Park stage three released as first residents move in

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

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The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

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Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

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Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

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Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

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Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

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Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

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The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

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The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Jennifer Duke

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