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ME Bank has cut its fixed home loan rates for its three year and five year products.
Its three year term rate has dropped by 31 basis points to a new standard rate of 4.28% per annum.
ME Bank's one year fixed term loan is now offered at 4.69% after a 20 basis point cut, while its five year loan has been cut by 10 basis points to 4.59%.
According to ME Bank, they "retain top spot" for three and five year loans.
ME Bank chief executive Jamie McPhee said the lender has chosen to "immediately pass" savings in the fixed rate market on to borrowers.
"To illustrate, since December 2013, ME Bank has reduced its 5-year fixed home loan by 120 basis points, 3-year by 56 basis points, and 1-year by 20 basis points," said McPhee.
"ME Bank is focused on a strong growth trajectory and home loans will continue to be the most important source of asset growth over the next three years," he said.
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jrichardson-uRX5hFdKfN

ME Bank cuts rates to record low

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Lease marketing for the Harry Seidler-designed Grosvenor Place is well underway, coinciding with its $10 million refurbishment.
Colliers International is marketing the landmark tower complex to commercial tenants using a series of eye-catching advertisements, such as the one pictured below which featured in the Australian Financial Review.
<img src="/images/2015/02/11/ad-feb-11-two.png" alt="">
Source: Australian Financial Review.
The logo is derived from the tower's shape as it appears from a bird's eye view, illustrated here in the late Seidler's original outlook sketch.
<img src="/images/2015/02/11/seidler%20outlook%20diagram.jpg" alt="">
Image courtesy of Harry Seidler and Associates.
The design has been given a colourful twist, reminiscent of the palette of New York artist Frank Stella, whose work is exhibited in the building. The advertising campaign is by Sydney-based Frost*collective. 
Much of Grosvenor Place's floorspace is uninterrupted by internal columns to provide flexible arrangements for tenants. There are 85,515 square metres of office space in Grosvenor Place, with 1,611 square metres of retail space.
The marketing for the building, which can be seen at <a href="https://www.work-culture.com.au/" target="_blank">work-culture.com.au</a>, draws heavily on its heritage, referencing Seidler's design principles ("Planning for flexibility provides lasting value": Design Principle No. 4; "Architectural design must avoid fads": Principle No.9) and using Seidler's signature.
Seidler is widely regarded as one of Australia's modernist masters and most famous architects. He designed Grosvenor Place in 1982 and opened in 1987. In 1989, it received the RAIA Lustig &amp; Moar National Prize.
Late last year, it was announced that a <a href="https://www.afr.com/p/business/property/landscape_inspired_art_scape_roof_G88PMcETh7VB1LFxqwkqDO" target="_blank">$10 million refurbishment</a> of the complex's restaurant and cafe precinct would involve an "art-scape".
The site includes the low-set Royal Naval House, Johnson's Building and the 44 level Tower.
In 2009, the building underwent a $28 million refurbishment of its lower floors. In 2013, DEXUS Property Group acquired a 25% interest in Grosvenor Place for $271.25 million.
Colliers agent Aaron Weir is marketing commercial tenancies, while Pamela Medich of Dexus is handling retail leasing.
Feature picture: Eric Sierins Source: Harry Seidler and Associates.
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Harry Seidler's Grosvenor Place gets art inspired campaign

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Melbourne will see the highest price growth of any capital city next year, HSBC has forecast.
In the latest HSBC Australia Downunder Digest report, HSBC Australia chief economist Paul Bloxham forecasts 4% to 8% price growth in Melbourne for 2016, after 7% to 8% growth in 2015.
Bloxham expects that in 2015, Melbourne and Sydney will "continue to outpace the rest of the nation", noting that from its mid-2012 trough, Melbourne's housing prices have increased by 20%.
<img src="/images/2015/02/10/Picture%2033.png" alt="">
However, Bloxham does not raise the prospect of a housing bubble in Melbourne as he did for Sydney, where <a href="/expert-insights/buying/sydney-prices-to-fall-hsbcs-bubble-warning">HSBC predicts prices could fall by 2%</a> in 2016 when they expect interest rates to increase.
He also noted the impact of foreign buyers on demand for Australian property, explaining that Foreign Investment Review Board figures "suggest a strong rise in foreign investment in Australian housing in 2014, with particular strength in investment in new dwellings." (see chart below).
<img src="/images/2015/02/10/Picture%2041.png" alt="">
"Much of the interest from foreign buyers is in the Sydney and Melbourne new apartment markets," writes Bloxham.
While Bloxham notes that foreign investment "is only a relatively small proportion of overall housing turnover", it is "likely to be having some effect on housing prices".
Victoria, which has seen the highest dwelling approvals of any state since 2009, is likely to see continued strength in the construction sector, according to Bloxham.
<img src="/images/2015/02/10/Picture%2040.png" alt="">
"As Australia's growth rebalances away from the mining states towards the south-eastern states – of New South Wales and Victoria – the strongest ramp-up in construction should be expected in these states," states the report.
Click to open in new window:
<a href="/images/2015/02/10/forecasts.jpg" target="_blank"><img src="/images/2015/02/10/forecasts.jpg" alt=""></a>
{mijopolls 88}
 
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Melbourne growth to stand out in 2016: HSBC's Paul Bloxham

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Sydney's prices are set to fall when interest rates rise again, predicts HSBC Australia chief economist Paul Bloxham.
HSBC predicts that Sydney's house prices could drop by 2% in 2016 after its third consecutive strong year forecast for 2015. It would happen after the official cash rate moved from a forecast 2% this year to an average 2.75% in 2016.
He also warns that Sydney's market is "at risk of a bubble", saying the current level of growth in Sydney home prices is unsustainable and "likely to be met with declines in future years, when interest rates do begin to rise".
Click on charts to open in new window.
<a href="/images/2015/02/10/Picture%2036.png" target="_blank"><img src="/images/2015/02/10/Picture%2036.png" alt=""></a>
"A signal of the growing risk of over-inflation in the Sydney market is the high level of investor demand," Bloxham explains.
"Housing loan approvals for investors currently account for a record high share of new loan approvals in New South Wales." (See chart below).
<a href="/images/2015/02/10/Picture%2037.png" target="_blank"><img src="/images/2015/02/10/Picture%2037.png" alt=""></a>
"The high involvement of investors suggests that there is a speculative dynamic in the Sydney market that may be worrisome," said Bloxham.
"Investors are typically seeking capital gains, rather than rental yield, as Australia's tax system favours capital gains.
"Investors themselves tend to be lower risk borrowers, as they typically have equity in another owner-occupied property and have lower loan-to-valuation ratios than first home buyers.
"In this way, it is not clear that investor involvement is leading to increased financial system risk. However, it does seem likely that increased investor activity is driving housing prices to rise faster than fundamental factors suggest they should in the Sydney market."
HSBC predicts that Sydney's house prices could drop by  2% in 2016 after 9% to 10% growth in 2015, its third strong consecutive year.
<img src="/images/2015/02/10/forecasts.jpg" alt="">
Note: HSBC's forecasts assume their cash rate predictions for 2016.
In the latest HSBC Downunder Digest, which is headlined "Australia's housing boom may get bubbly", Bloxham calls interest rates "the single most important determinant of housing price dynamics in Australia".
However, he notes that "monetary policy is being pushed to its extremes" with the latest rate cut to a record low 2.25% by the Reserve Bank, with the market anticipating another rate cut.
<a href="/images/2015/02/10/Picture%2031.png" target="_blank"><img src="/images/2015/02/10/Picture%2031.png" alt=""></a>
Of the Australian Prudential Regulatory Authority's (APRA) decision to tighten mortgage lending guidelines in December, Bloxham observes that "it is unusual in Australia for prudential policy and interest rate settings to be working in opposite directions".
Despite his concerns regarding a potential bubble in Sydney's market, Bloxham does not believe there is a national housing bubble, citing strong fundamental reasons for growth, including low housing supply, well allocated housing debt low urban density and high demand for property.
"However, we do see that the longer housing prices continue to increase faster than household incomes, the greater the chance a bubble could inflate." (See chart below).
<a href="/images/2015/02/10/Picture%2034.png" target="_blank"><img src="/images/2015/02/10/Picture%2034.png" alt=""></a>
"We are also starting to see pockets of the market where bubbles could be forming, given that interest rates have now been low for quite some time," warns Bloxham.
All charts sourced from HSBC.
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Sydney prices to fall: HSBC's bubble warning

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Despite a drop in Sydney and Melbourne listings for January, property listings Australia-wide increased last month, according to SQM Research.
There was a marked increase in Darwin and Perth in particular, who have seen price downturns in the past year, which <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a> attributes to a slowdown in local mining industries.
<img src="/images/2015/02/09/sqm-feb-9-one.jpg" alt="">
Source: SQM Research
Across Australia, stock on the market was up 1.9% over January to 351,509 homes. The result was 2.7% higher than in January 2014.
Both Sydney and Melbourne recorded a drop in listings for the month, with Melbourne stock on the market down 0.8% and Sydney's listings down 3.1%.
Louis Christopher, managing director of SQM Research, said: "The Sydney market remains strong and we expect a very strong opening to the Sydney auction season this weekend. However this localised market strength is not really being experienced anywhere else outside Sydney. I would even argue that Melbourne remains patchy.
"Going forward, this week's rate cut should boost demand at the national level but we must remember local economic conditions are taking precedence in certain cities, namely those cities exposed to the mining downturn. As one can see with our listings and asking prices indexes, Perth and Darwin appear to be in deep trouble."
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Property listings increase over January: SQM Research

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Almost a third of Hobart house sales came in under the $300,000 mark in the December quarter, according to the Real Estate Institute of Tasmania.
An even greater proportion of house sales were sub-$300,000 in Launceston: <a href="/news/tas/31-of-hobart-house-sales-below-300-000-is-the-apple-isle-ripe-for-investor-harvesting">58% against Hobart's 31%</a>.
Hobart was also the surprise standout for December, with CoreLogic RP Data recording 1.6% price growth for the month - the second highest result of any capital city.
But does Australia's cheapest capital city actually offer strong prospects for investors?
Property Observer looks at three Hobart rental properties which cost less than $300,000. All were purchased in the past two years.
<a href="https://www.realestate.com.au/property-house-tas-blackmans+bay-414817411" target="_blank">34 Tingira Road in Blackmans Bay</a> is an investment property currently available to rent at $335 per week. The owners paid $290,000 in March 2013, with the vendors paying $87,000 in 1992  – meaning the home's value increased more than threefold in their 20 years of ownership.
<img src="/images/2015/02/09/1.jpg" alt="">
34 Tingira Road
If the renovated two bedroom house is rented at $335, it will reflect a rental yield of 6%. The house has built in robes in both of the bedrooms, open plan living and kitchen area, a separate bungalow and water views from the front deck.
Further out – roughly 45 minutes from Hobart's centre – is <a href="https://www.realestate.com.au/property-house-tas-cygnet-414968919" target="_blank">5 Solly Court in Cygnet</a>. The western red cedar has three bedrooms over its two storeys, and cost its investor owners $220,000 in 2014.
<img src="/images/2015/02/09/2.jpg" alt="">
5 Solly Court It's available now for $270 per week – offering a rental yield of 6.4% if secured.
<a href="https://www.realestate.com.au/property-house-tas-kingston-118814267" target="_blank">14 Alfreds Garden in Kingston</a> cost buyers $260,000 in January. The two bedroom house, built in 2003, was rented out by the vendors in 2013, with an advertised rent of $310 per week. At that same rental rate and its current price, 14 Alfreds Garden would yield 6.2%.
<img src="/images/2015/02/09/3.jpg" alt="" style="font-size: 12.1599998474121px; line-height: 1.3em;">
14 Alfreds Garden
The previous investors paid $220,000 for the house in 2005.
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How cheap is Hobart? Three investor picks under $300,000

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North Ryde's houses recorded the strongest median price growth of those in any Sydney suburb in the latter part of 2014, according to Domain Group senior economist Andrew Wilson.
Between the six months to December 2013 and the same period in 2014, North Ryde's median house price jumped 34.9% to $1.25 million.
Wilson attributes much of the growth in large part to rezoning measures, which now allow high rise development along railway lines in North Ryde and Epping, <a href="/news/nsw/the-11-sydney-areas-every-property-investor-should-know-urban-activation-precincts">among other areas in Sydney</a>.
"That's caused quite a bonanza of activity for the homeowners who have been in the rezoned areas", Wilson tells Property Observer.
In 2013, the state government announced North Ryde as one of eight areas in its urban activation precincts program. A 12.5 hectare site, set around 15 kilometres north-west of the city and bounded by the M2, Epping and Delhi roads, was identified as under-utilised.
The strong demand in areas of North Ryde has largely come from developers, says Wilson.
"We've seen a real land-rush from developers trying to secure properties in those areas."
While he notes that the area has "been a strong market for the Chinese community as well", Wilson says "developers are really climbing over themselves to secure property".
Home owners have notably taken advantage of developer interest in the area, with one group of eight residents selling their properties in one line for <a href="https://www.afr.com/p/business/property/residents_in_bonanza_brKDKdsHAAkThFj8UzuleN" target="_blank">$30 million to developers last year</a>.
In May, a developer, Great Wall Investments Pty Ltd, purchased two neighbouring properties at <a href="https://www.realestate.com.au/property-house-nsw-north+ryde-116913931" target="_blank">43 and 45 Jopling Street, North Ryde</a> (pictured below).
<img src="/images/2015/02/09/north%20ryde%20feb%209%20one.jpg" alt="">
The vendors were two residents who had been living side by side for around 30 years, according to agent Ben Boutros. He estimates that each property might have sold for $1 million separately. Together, the two homes sold for $2,887,000, with each seller taking home a 50% share.
Great Wall Investments now plans to build seven villas on the site, with applications lodged for two three bedroom two storey units, three single storey three bedroom units and two two bedroom units.
The results are indicative of what Wilson calls "insatiable demand" in the North Ryde and Epping area since they've been rezoned.
The plans to redevelop the station precinct in North Ryde may be a driver of price growth throughout the suburb, with enhanced public transport, jobs and improved public spaces promised by the New South Wales government.
<a href="https://www.realestate.com.au/property-house-nsw-north+ryde-118328587" target="_blank">4 Beatrice Street in North Ryde</a> (pictured below) sold in North Ryde for $1.27 million in November. In April 2010, it sold for $850,000, a difference of $420,000 (49.4% growth) in three and a half years.
<img src="/images/2015/02/09/north%20ryde%20feb%209%20two.jpg" alt="">
After 15 years of ownership, the vendors of <a href="https://www.realestate.com.au/property-house-nsw-north+ryde-118242887" target="_blank">50 David Avenue</a> (pictured below)  sold the property for $1.45 million late last year. They paid just $172,000 in January 2000, with 743% growth over the 15 years. <img src="/images/2015/02/09/north%20ryde%20feb%209%20three.jpg" alt="">
The investment property is currently rented advertised to rent at $525 per week, reflecting a rental yield of 1.8%.
Wilson notes North Ryde's market performance is in part due to "the overall Sydney zing", with low interest rates, buyer confidence and a strong local economy propelling prices. However, according to Wilson, prices have been "exacerbated by a lot of developer activity". 
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Rezonings help North Ryde become Sydney's hottest suburb

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An Echuca owner is selling a fleet of three paddlesteamers after 18 years of ownership.
Vendor Max Vulling initially purchased the paddlesteamers as a business venture, entering the Echuca-Moama tourism industry.
He says the paddlesteamers are one of the main attractions in the town.
The PS Canberra was built in 1912 at Goolwa in South Australia. The vessel launched in 1913 as S.S. Canberra, and was used continually until 2002, when it took a nine month break for a restoration.
PS Emmylou was commissioned by an expatriate englishman, Anthony Bromwell, and designed by Sydney based naval architect Warwick Hood. It was used as a private charter for the first couple of years of its life after its completion in 1982, before being used as a tourism vessell.
The third paddlesteamer, the Pride of Murray, was built in 1924 by Charlie Felshow at the Murray River Sawmills. The former outrigger barge is 82 feet, 6 inches long and 16 feet wide.
The sale of the fleet includes leases for all three vessels.
Handel Aubrey of Ray White Echuca is marketing the three paddlesteamers, with the sale including their leases.
"One's got overnight accommodation and all are fully licensed," says Aubrey.
"We anticipate that interest will come from business-minded buyers, people involved or interested in buying into the  hospitality and tourism industries as well as historical enthusiasts," Aubrey says.
 
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Historic Murray River paddlesteamer fleet on the market 

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Louis Chrisopher, SQM Research's managing director, had the most bullish Sydney 2014 forecast.
In late 2013, Christopher predicted that Sydney's prices would rise <a href="/expert-insights/buying/sydney-to-jump-up-15-20-act-to-fall">15%-20% over the 2014 calendar year</a>.
While prices weren't that strong, he was closest to the pin, now that the annual figure are in.
Other experts were notably more subdued, with many tipping that prices would slow significantly in 2014: Domain Group senior economist Andrew Wilson and Property Observer's <a href="/news/slowing-home-price-growth-sydneys-tentative-early-2014-capital-city-trend">Jonathan Chancellor</a> both predicted 2013's growth would halve to around 7%. Observer Pete Wargent tipped Sydney prices to increase by 6% to 9%. McGrath Estate Agent founder John McGrath <a href="/expert-insights/buying/john-mcgrath-lowers-his-2014-sydney-forecast-to-5-8-price-growth">downgraded his 2014 Sydney forecast </a>from 10% to 5-8% in June.
We now know that Sydney recorded around 12.4% price growth in 2014 across all dwellings, according to CoreLogic RP Data. House prices were up 13.4% to $858,000, while unit prices increased by 8.3% over the year to $615,000.
The median house price for Sydney is now $873,786, after a 14% rise in prices during 2014, according to Fairfax's The Domain Group.
Christopher's confidence in the Sydney market remains, particularly given the Reserve Bank's February announcement that it would cut rates by 25 basis points to a record low of 2.25%.
"We believe Tuesday's interest rate cut will further stimulate the Sydney housing market through the full calendar year 2015," Christopher told Property Observer.
"Our forecast for this current year, made back in September 2014, would be a rise of between 8-12%.
"This assumed a stable interest rate environment. With this rate cut we believe the market will now likely increase by the upper end of this range.
"Sydney on top of the 30% gains we have had since the start of 2013 will mean the market may well be up by over 50% in Sydney in just three years."
His price prediction is once again more bullish than those made by many of his contemporaries. Wilson this year has forecast 7-10% growth, while NAB's Residential Property Survey respondents predict 4.1% gains. Wargent has pitched his forecast slightly lower than last year, this time predicting <a href="https://petewargent.blogspot.com.au/2014/12/2015-capital-city-property-market" target="_blank">5-8% price growth in 2015</a>.
Whether yesterday's rate cut will cause experts to revise their forecasts remains to be seen. Meanwhile, the <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a> founder's confidence is not reserved for just the Sydney market:
"We are also rather bullish now on holiday locations on the east coast of Australia given that the lower Australian Dollar should further assist local tourism economies," Christopher said.
 {mijopolls 86}
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Bullish Louis Christopher forecasts strong gains for Sydney in 2015

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NAME: Tim Holtsbaum <img src="/images/2015/02/02/Tim-Holtsbaum-profiel.jpg" alt="" style="float: right;">
POSITION: Director - residential site sales, NSW
COMPANY: Knight Frank Australia
OFFICE LOCATION: Sydney, NSW
<ul>
<li>How long have you been in the industry?</li>
</ul>
Over 10 years now.
<ul>
<li>What’s happening in the area you specialise in?</li>
</ul>
Big things!  It's no secret that the residential markets across Australia and especially in Sydney have enjoyed substantial growth in both supply and demand economics.  Sydney experienced a relative under supply for several years’ post the GFC which when combined with a low interest rate environment has now led to aggressive price growth in the medium to high density residential market. 
This growth has been amplified by the influx of off-shore investors and developers, especially from within the Asian markets such as China and Malaysia.  Additional planning reforms along major infrastructure corridors with the aim of densifying key areas across metropolitan Sydney provide additional opportunities for both domestic and off-shore developers. 
With Sydney having experienced an approximate 35-40% growth in the median value on an apartment in the past five years, further growth is forecast for the coming 2-3 years as supply attempts to match ongoing demand for residential housing in Sydney.
<ul>
<li>Describe the most interesting commercial property you have worked on?</li>
</ul>
Perhaps due to their locations, it would be a tie between a 14 acre land acquisition for a new baby diaper manufacturing facility in Lagos, Nigeria and a commercial office acquisition in Islamabad, Pakistan.  Both presented unique challenges such as negotiating with local tribes in Nigeria through our Portuguese lawyers and having to discuss Ricky Ponting and the Australian cricket team for an hour before every meeting with a Pakistani Landlord.
<ul>
<li>What are the ingredients to being successful in your job?</li>
</ul>
First and foremost, an infatuation with all things real estate.  If you find yourself sending your friends and family off to sleep with details of housing price movements in your suburb, growth in achievable gross realisations for high rise residential apartments and tightening cap rates due to an increased weight of capital in the market, you have found your niche.
In addition to general interest, I would also attribute my broad skill set having worked in multiple business lines across Asia Pacific and Europe, Middle East and Africa (EMEA).  Based on my experiences, I am a strong advocate for working cross-border in markets with contrasting cultures and individuals.  Globalisation may be the norm but understanding how various cultures conduct business can be pivotal in executing a successful transaction.
<ul>
<li>What aspects of your role do you enjoy the most?</li>
</ul>
Two things:
<ol>
<li>Working with first class clients and focusing 100% of my energy on the residential development market and</li>
<li>The transaction. </li>
</ol>
My recent move to Knight Frank as the Director of Residential Site Sales, NSW helps me combine to two and build a team that will contribute to the growth of our Residential business as a whole.
<ul>
<li>Where would you invest a spare $750,000?</li>
</ul>
Invest in promising young businesses with substantial growth potential.  I think Australian business will enjoy massive growth potential as our population increases year-on-year.
<ul>
<li>Which football team do you support?</li>
</ul>
For my sins I am a Dragons fan in the NRL and a diehard Liverpool FC supporter in the EPL.  I grew up playing rugby here in Sydney at school and Eastern Suburbs RC so supporting the Beasties and Tahs goes without saying.
<ul>
<li>What’s your favourite app or techno gadget?</li>
</ul>
I would have to say my new phone.  I am not a mobile phone wizard by any stretch of the imagination but I have recently switched to the Sony Xperia Z3 and haven't looked back.  Of course, I have been given major amounts of grief for getting a Sony which just make me enjoy it more.
<ul>
<li>How do you use social media?</li>
</ul>
Sparingly. I have the usual Facebook and Instagram accounts but my user levels are definitely on the low end of the scale. Can't say I am a huge fan of endless microblogging, hence no Twitter account for me.
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In profile: Knight Frank's director - residential site sales, NSW, Tim Holtsbaum

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.

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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.

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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."

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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.

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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."

[smartcode_project:default project_id=102717 project_image_fid=355304]

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.

[smartcode_project_cta:default project_id=102717]

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."

[smartcode_project:default project_id=5743 project_image_fid=953]

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>.

Jessie Richardson

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