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A suite of new laws will be introduced in mid-January next year to protect home buyers, renovators and home builders, according to NSW Minister for Fair Trading Matthew Mason-Cox.
To be introduced on 15 January 2015, the new laws will protect consumers against incomplete or subpar work on their homes and will look to ensure builders and tradespeople are properly regulated, said Mason-Cox.
"The decision to commence the new laws on 15 January followed extensive consultation with industry and consumer groups,” he said.
"The changes are part of the NSW government's plan to ensure NSW’s important building sector remains healthy and continues to grow, while making sure consumers remain appropriately protected.’’
The cornerstone of the home building reforms is a new definition of ‘major defect’. This changes include fire safety and waterproofing issues being redefined as major elements in a building’s structure for the first time.
“By including fire safety systems and waterproofing as major elements of the building, the new definition broadens the scope of what may be considered a ‘major defect’, and provides access to the six year warranty period, offering consumers greater protection in these two very important areas,” Mason-Cox said.
“The new laws clearly define statutory warranties to avoid costly litigation over defective work. The warranty period for major defects continues to be six years and two years for all other defects.’’
Illegal phoenixing, whereby a building company collapses and then is reborn under a new name to avoid their debts, will be come under Fair Trading's microscope.
“Changes to the licensing system will allow NSW Fair Trading to refuse a licence application or revoke a licence if a builder has a history or involvement in a failed company or an unreasonable number of complaints or disciplinary matters against them,” he said.
Home building contract requirements are also being amended to maximum cap deposits on work over $20,000 to 10%, from 5%, to assist with cash flow for builders.
“To ensure consumers are protected, the new laws also require builders to include a progress payment schedule in the contract which accurately reflects the work that has been done,” he said.
“This will help ensure that consumers do not end up paying the builder more than the work that has been completed."
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New laws to protect NSW home buyers to be introduced in 2015

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When decorating an apartment for Christmas, it’s worth remembering your responsibilities and to seek clarification from your body corporate, according to Archers Body Corporate Management.
Apparently, certain decorations and lights can break the building’s by-laws and require approval.
Archer’s strata manager Wayne Hewitt said that the majority of unit owners and tenants are unaware of the repercussions.
“Most bodies corporate have by-laws prohibiting additions to the exterior of the building, including hanging Christmas decorations and lights from balconies and windows,” Hewitt said.
He notes that the body corporate can advise on the extent of the decorations allowed, how long they can be displayed for and where is appropriate to have them.
Here are their five Christmas decoration tips:
<ul>
<li>Check with your body corporate before putting up your Christmas decorations to ensure you’re not in breach of any by-laws. 
</li>
<li>Before you install Christmas lights, check over the cables to ensure they are not faulty. Faulty lights can be the cause of fires which can not only affect your property but the entire building. 
</li>
<li>If you have approval to decorate your balcony ensure that decorations are secured well so they won’t be a hazard in strong wind or summer storms. 
</li>
<li>Ensure that your decorations do not block any walkways or emergency exit points of the building and are not on common property. 
</li>
<li>Make sure you adhere to your body corporate’s prescribed time lines and guidelines for how long decorations can be displayed.</li>
</ul>
Source: Archers Body Corporate Management
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Five tips for decorating an apartment safely

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Coburg Hill’s Focus development has a 2015 release scheduled with two and three bedroom townhouses expected to be launched to the market.
Satterley Property Group’s <a href="https://focuscoburghill.com.au" target="_blank">Focus</a> development has a handful left available in the November final stage release, stage six, of the traditional lots. This has also been called the 'F-series'. The 2015 release is set to be in the first half of the year.
{qtube vid:=yKk7TrTU_Vo}
Meanwhile, 2014 was a productive year, explained Satterley’s end of year note. With the Coburg Hill shopping centre opening in April, titles have been received for Focus in some of the latest stages, four and five.
In total, 20 Focus townhomes are settled and 230 homes are complete. This totals 550 new residents on the redeveloped Kodak site.
The current townhomes remaining in stage six are priced at $680,000, with a 10% deposit required. The balance is payable on completion.
The 23 square metre floorplan dwellings include two living spaces, three bedrooms, two bathrooms, a powder room and a double garage.
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Coburg Hill gear up for 2015 townhouses release

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A development application for 339 Military Road, Mosman, has been approved by the Joint Regional Planning Panel.
The property, owned by Centuria Property Funds, will likely be home to 68 new dwellings, including  64 one, two and three bedroom apartments, with the remaining few dwellings being terraces, townhouses and “flexible Live/Work Sohos”. The development will be called <a href="https://monarchmosman.com.au/" target="_blank">Monarch</a>.
Property Observer understands that pricing hasn't yet been established.
The site, at the corner of Belmont Road and Military Road, will be designed by architectural firm Bates Smart.
Centuria’s Jason Hulich said that Bates Smart has the experience and credentials that have enabled them to design the vision for Monarch.
“Centuria believes that the project will be extremely well received by both owner occupiers and astute investors alike,” said Hulich.
Ray White Projects is selling the development.
Apartments will include outside space, either private gardens, loggias or balconies. Each will include basement storage and car parking, and there will also be designated motorbike and pusbike sites.
A display suite is set to open soon.
Centuria purchased the site in August 2001.
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New development to bring 68 new dwellings to Military Road, Mosman

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An Australian Capital Territory Civil &amp; Administrative Tribunal decision has upheld a 25% penalty imposed on a property buyer over a First Home Owners Grant (FHOG) dispute.
Yesterday, it was found that Mr MD Masud Karim, who had been given the First Home Owner Grant and First Home Owner Grant Boost, totalling $21,000, was required to give back the funds, interest and face a penalty as he had not resided in the premises.
The tribunal noted that it was not a deliberate intention on Karim’s part to defraud.
In January 2009, Karim entered into a contract for sale for a block of land. In July, he then entered into a home building contract to construct a dwelling on the site.
In August, he then lodged an application for the grants where he said that he, as the applicant, would be occupying the home as his principal place of residence for six months within 12 months of completion.
However, in September 2009 he left Australia for Bangladesh, with the application not yet determined. He has not returned to Australia, citing better employment opportunities for himself in Bangladesh.
In November he was told that his application was approved. He did not update his NSW driver’s licence from his previous Lakemba address, nor his bank accounts, nor put himself on the ACT electoral roll. He was, however, the addressee for the electricity and natural gas bills.
His wife and children moved into the house in January 2010, where she used her address and enrolled her children at the local school.
In May 2010, she appointed a property manager to rent the house and act as agent for rates and land tax, where it was rented to other people until July 2010 when she and the children moved to Bangladesh.
In October 2010 Karim sold the house. He said that he was unable to service the mortgage with his current income and the rent.
Despite his wife and children living in the property, and Karim’s submission that it was his primary place of residence in Australia despite himself living in Bangladesh, Tribunal said that he must have lived in the house himself as the applicant.
Instead, Tribunal advised the better course of action would have been to not accept the grant, or notify the respondent within 14 days that he would not meet the residency requirement. Possibly, an extension of the time for the grant may have been provided for the unexpected situational change.
In effect, the Tribunal agreed with the submission of the respondent that those who receive the grant accept it on a “conditional bases” that means they are expected to exercise diligence to ensure they either meet the conditions of the grant or return the funds.
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Man penalised for claiming FHOG while living offshore

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Building a secondary dwelling, either on a principal place of residence or out the back of a rental property, for tenants to live in has long been an accepted way of increasing rental yield on applicable homes.
With double the income from one block, the $80,000 to $120,000 outlay to build a granny flat has been undertaken in many areas, in particularly Western Sydney.
However, the Tenants’ Union of Tasmania’s solicitor, Peter Foster, is warning Tasmanian tenants about some of the difficulties.
The main issue remains around the subject of electricity or power connection. Even if the landlords live in the main house, or it is holding tenants itself, it’s advised to have separate meters.
Not only will this make life easier in terms of bills, however not keeping this separate may actually be unlawful under the Act, explains Foster in the latest TUTas advisory email.
“Some owners will insert clauses into leases that seem like a fair compromise. For example, that each household pays half of the power bill. But is going halves just when only two tenants live in the flat while the owner, her husband and three children reside in the adjacent house? It would be reasonable to assume the owner and her family will be consuming more electricity,” writes Foster.
He suggests that there may also be some arrangements where there’s a “per head pay share” where each tenant pays for a divided portion of the bill per person. However, lifestyle imbalances can affect the bills and still have some paying more than they should.
When assessing ‘fairness’, clearly there are many difficulties. The Act is even clearer. Foster explains that the landlord is only able to charge for rent, damage and usage costs of a water bill under the agreement, but that all other charges cannot be collected by the landlord or agent. This would include electricity bills.
The solution may be to have a meter installed at the granny flat. While ne notes that owners have no legal obligation to install the meter it certainly seems the most recommended option.
How have you tackled this issue with your tenants?
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Landlords warned against sharing utilities between main house and granny flat

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Sydney’s vacancy rate, according to the November 2014 REINSW Vacancy Rate Survey, now sits at 1.7%. This figure was also that posted for Sydney <a href="/expert-insights/buying/perth-and-darwins-vacancy-increases-alarming-sqm-research">by SQM Research</a>.
With the figure representing a balanced market sitting at the 2.0% mark, REINSW president Malcolm Gunning has said that the vacancy rate suggests that supply isn’t meeting demand.
“Therefore we question the Australian Prudential Regulation Authority’s (APRA) concerns and recommendations for banks to tighten their lending criteria to investors,” Gunning said.
Inner Sydney availability dropped 0.1%, to 1.5%, while outer Sydney increased 0.3% to 1.7%. Middle Sydney fell 0.2% to 2.0%.
“Declines in the inner and middle Sydney were leveled out by the increase in the outer areas. The lows in Inner Sydney have not been seen since February 2013. It is a third month in a row that vacancy rates have been stable at 1.7%,” he said.
Newcastle, the Illawarra, Coffs Harbour, the South Coast and the Northern Rivers also saw drops in vacancy rates.
Meanwhile, the Hunter region remained steady, while Wollongong, the Murrumbidgee, New England, Albury, South Eastern all increased.
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Sydney’s vacancy rate doesn’t justify APRA recommendations: REINSW

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Mortgage stress is one of those difficult situations that no one wants to face. For new buyers, and even experienced property owners, the thought of being in a scramble to afford your repayments understandably evokes a significant amount of fear.
If you are facing mortgage stress, the harbinger of a potential foreclosure, there are certain things you can do to manage the situation.
Smartline Personal Mortgage Advisers’ executive director Joe Sirianni suggests that, clearly, the first thing to bear in mind is how to reduce the possibility of ending up experiencing mortgage stress in the first place.
Anecdotal experience leads Sirianni to believe that those in financial stress have held onto their asset for too long as the stress starts to build.   “Eventually their debt repayments put them in a position where they go very close to bankruptcy and, in hindsight, will express their wish that they’d sold their home sooner in order to get rid of their debt earlier and give themselves time to get back on track,” he said.   “That’s not to say that making the decision to sell your home in order to clear debt isn’t a stressful and deeply emotional choice to make. Rather, leaving the decision-making process for too long can make an already stressful situation even more difficult – it’s best to talk about the situation and discuss options right from the beginning.”
So, firstly, if you think mortgage stress is going to become a possibility or you’re starting to feel the pinch then consider to yourself whether selling early is the best option for you.
Similarly, if you can predict what the worst case scenarios may be then you are often better placed to handle them should they arise.
Redundancy, illness or injury can be possible outcomes for every individual and it is worth putting in place insurances ahead of time to mitigate these risks.
Personal insurance products, such as income protection insurance, trauma insurance and possibly life insurance can be worthwhile considerations.
If this is something you haven’t managed to do – be upfront with your lender and tell them quickly what the problem is.
“It’s always best to be upfront with your lending institution to let them know about your situation – particularly if you predict that you’ll experience financial difficulties in the near future if you don’t secure another income,” Sirianni advises.
For lenders, it’s in their interest to assist you during these times. You may find that a lender can assist by helping you change your loan to interest only for a period until you find another job, or give you a “repayment holiday” until you’re on your feet.
While you do have an obligation to repay your loan, lenders are not out to work against you and there’s often a solution you can work with them towards.
“Not only are many people surprised by how readily lenders will work with them, they find that any misconceptions around how they might manage the debt on their own are incorrect,” he suggests. This may include borrowers who believe they can use the equity in their home to assist during tough times – without realising that they need an income to have lending approved to pull out these funds.
Other situations that are seen by Sirianni as causing mortgage stress can include credit card and personal loan debt.
Now is the time to stop accruing more debt. Cut up your cards, speak to your lender and look to put yourself on a repayment plan, he suggests.
“If you find yourself in a distressing financial position as a result of an unforeseeable event that, in turn, sees you falling behind on your mortgage repayments and incurring significant credit card debt as a result, there are options available – highlighting the need to get on top of out-of-control debt from the very beginning,” he said.
In summary:
<ul>
<li>Consider selling earlier rather than later 
</li>
<li>Attempt to predict your difficulties ahead of time and prepare with insurances 
</li>
<li>Speak to your lender quickly 
</li>
<li>Cut up your credit cards, and put yourself on repayment plans</li>
</ul>
Here are some <a href="/expert-insights/finance/what-to-do-if-you-are-in-mortgage-stress">more suggestions from the Consumer Credit Legal Centre (NSW)</a>.
ALSO READ: <a href="/expert-insights/finance/what-is-negative-equity-and-what-can-you-do-about-it">What is negative equity and what can you do about it </a>
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How to: Manage mortgage stress

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Perth and Darwin’s vacancies continue to increase in an ‘alarming’ fashion, according to SQM Research’s November figures.
The number of vacancies nationally has increased over the month, to 2.2% at 65,777 vacancies, however much of this is seasonal, including due to university students exiting their rental accommodation.
Where many capital cities have remained stable year on year, Perth and Darwin have stood out for their rising vacancy rates. As of November 2013, Perth and Darwin recorded vacancy rates of 1.7% and 1.3% respectively. This year, Perth is now recording a 2.5% rate, with Darwin at 2.8%.
Melbourne has dropped back 0.3% to 2.7%, while Hobart has dropped to 1.1% from 1.4%. Canberra dropped 0.1% to 1.9%.
Brisbane is up 0.1% over the year to 2.4%, while Sydney remains stable at 1.7%.
<a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>’s managing director Louis Christopher puts the falls in Hobart as due to a recovery in the local economy and possibly the tourist industry.
Meanwhile, he suggests that Melbourne’s small decline may be due to a brief slowing in construction activity or surge in population.
“On a year-on-year basis we are seeing rises in Darwin and Perth. The reasons for the rises in Darwin and Perth are pretty clear in the sense that it is related to the ongoing mining downturn, causing a lot of loss of employment, particularly temporary/contract jobs,” Christopher said.
Asking rents in Perth and Darwin are also dropping dramatically. Darwin is down 10.8% in asking rent for houses and a smaller 0.3% drop for units over the year. Perth has seen a 9.5% decline for the asking rent for houses and 9.3% for units.
Current capital city vacancy rates (as of November 2014):
<ul>
<li>
Darwin: 2.8%
</li>
<li>
Melbourne: 2.7%
</li>
<li>
Perth: 2.5%
</li>
<li>
Brisbane: 2.4%
</li>
<li>
Canberra: 1.9%
</li>
<li>
Sydney: 1.7%
</li>
<li>
Adelaide: 1.5%
</li>
<li>
Hobart: 1.1%
</li>
</ul>
Source: SQM Research
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Perth and Darwin's vacancy increases "alarming": SQM Research

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The New South Wales government's recently released 'A Plan for Growing Sydney' and it has been welcomed by Housing Industry Association's (HIA) executive director NSW David Bare.
“HIA has been calling for housing supply targets that actually reflect true underlying and future demand. A Plan for Growing Sydney delivers on this aspect because the entire strategic plan is based on meeting the future needs of Sydney’s growing population,” he said.
The plan includes a goal to deliver more property supply through a number of initiatives, including accelerating supply with priority precincts, increasing urban renewal by placing homes near to jobs and transport hubs, increasing housing choice and delivering greenfield precincts.
“The focus on urban renewal and infill in a planned fashion is long overdue in housing delivery in Sydney” said Bare.
“Increasing the opportunities for housing type diversity and enabling subdivision of existing homes for higher density outcomes is also welcomed.”
To accelerate housing supply, the plan aims to work with councils and the development sector to introduce flexible planning controls.
It notes that for infill and urban renewal., large lots within the existing urban area and close to centres on the rail, light rail and rapid bus systems are most suitable.
It appears the 10 priority precincts will remain on the radar with North Ryde Station, Epping Town Centre, Wentworth Point, Carter Street Lidcombe, Herring Road Macquarie Park, Showground Station, Bella Vista Station, Kellyville Station, Banksia and Arncliffe all mentioned.
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NSW planning focus on infill long overdue: HIA

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.

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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;

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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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