Downsizers and rightsizers have dominated the new and off the plan apartment market in 2024.

The two camps, downsizers in particular, are the least impacted by the continued high interest rates compared to a first home buyer or investor, positioning them as a key target for developers. Most of the new apartment developments that have come to the market in 2024 have been large apartments that suit the size and budgets of a downsizer.

Many downsizers have built significant equity in their family homes over the years and are now looking to move into more manageable living spaces, while also securing funds for retirement.

But where are downsizers and rightsizers looking to buy?&nbsp;

In this article, we've looked at the most popular suburbs in the <a href="/developments/gold-coast-qld">Gold Coast</a> for both buyer demographics, highlighting some of the most popular developments in those areas.

<h2>Broadbeach</h2>

<a href="/developments/broadbeach-qld-4218">Broadbeach</a> continues to be one of the most popular suburbs on the Gold Coast for every buyer demographic.

Broadbeach offers high-density projects, which lend themselves to the first home buyer and investors as well as the downsizer who wants a sky-high apartment with significant amenity options within the building, as well as full-floor luxury, which tends to be the most popular downsizer option.

It's a walk to the beach, its has its own bowls club, several parks, and primary school, as well as Pacific Fair, the second largest shopping centre in Queensland, and the revamped Star Casino precinct.

It's been the largest towers that have been targeted by next home buyers.

Crest Broadbeach, by <a href="/developers/morris-property-group">Morris Property Group</a>, and <a href="/new-apartments/victoria-albert-broadbeach-20-albert-avenue-broadbeach">Victoria &amp; Albert</a>&nbsp;by <a href="/developers/iris-capital">Iris Capital</a>, the landmark two-tower development on the former Niecon Plaza site.

The Albert Tower in V&amp;A has been more designed for downsizers, with larger apartments starting from $1.8 million.

[smartcode_project:default project_id=107928 project_image_fid=234103]

Victoria &amp; Albert will comprise around 400 apartments, as well as a&nbsp;subtropical recreational podium with a lap pool, gym, and extensive landscaped areas.

The apartments will sit above a $200 million retail precinct which will have hand-picked retailers and hospitality venues.

[smartcode_project:default project_id=107928 project_image_fid=234095]

<a href="/new-apartments/crest-broadbeach-13-armrick-avenue-broadbeach">Crest</a> has also proven popular with the next home buyer demographic.

So far only the first tower has been released to the market, 184 two and three-bedroom apartments. The second tower, with slightly few apartments, will be released in the new year.

[smartcode_project:default project_id=112024 project_image_fid=241133]

Crest will sit on&nbsp;Armrick Avenue, one of three streets that face the 4.2-hectare Broadbeach Park, a sought-after spot given it means protected south and eastern views toward the beach and the ocean.

On top of the view lines, Broadbeach Park is a drawcard by itself. Broadbeach Park is home to Broadbeach Bowls Club, which has stood as the focal point of Broadbeach since the mid-1950s, as well as Nikiforides Family Park, Broadbeach Croquet Club, and the Broadbeach Life Saving Club.

[smartcode_project:default project_id=112024 project_image_fid=241132]

Morris is underway in construction of both the Crest towers, which will be completed in mid-2027.

<h2>Chevron Island</h2>

For the last three years, there's been a wide variety of options for local downsizers and rightsizers on&nbsp;<a href="/developments/chevron-island-qld-4217">Chevron Island</a>.

The island has been popular with those from New South Wales and Victoria who are looking to move to the Gold Coast.

Much like Broadbeach, Chevron Island residents get close proximity to Surfers, but its own different lifestyle, like the retail strip of Thomas Street and the thriving Home of The Arts precinct.

<a href="/developers/siera">SIERA</a>&nbsp;chose Chevron Island for its debut Gold Coast apartment development, <a href="/new-apartments/tapestry-chevron-island-39-darrambal-street-chevron-island">Tapestry</a>, currently under construction through SIERA's inhouse construction arm.

<a href="/new-apartments/tapestry-chevron-island-39-darrambal-street-chevron-island">Tapestry</a>, designed by <a href="/architects/bda-architecture">BDA</a>, will have 113 apartments across a 22-level building which is to be crowned by an amenity-fuelled rooftop with&nbsp;an infinity pool, private dining areas, and a gym.

[smartcode_project:default project_id=108641 project_image_fid=192961]

<a href="/developers/aniko-group">Aniko Group</a> also recently started construction of its first Chevron Island apartment development <a href="/new-apartments/orama-chevron-island-12-16-weemala-street-chevron-island">Orama</a>, which is comfortably over 80 per cent sold of the 102 apartments.

Also under construction through its own in-house building arm, Orama will rise 21 levels and will also feature significant rooftop amenity.

[smartcode_project:default project_id=111898 project_image_fid=209597]

Aniko Group Managing Director, George Mastrocostas, said the sales success of Orama reaffirms that downsizers are the primary market driving the Gold Coast’s appetite for premium living experiences.

Peter Malady, sales and marketing director of Aniko Group, said their strategic pricing and emphasis on luxury amenities have resonated particularly well with local downsizers, who don’t just seek a residence, but a lifestyle tailored to their needs and desires.

[smartcode_project:default project_id=143018 project_image_fid=289068]

<a href="/developers/sherpa-property-group">Sherpa Property Group</a>&nbsp;is also tapping into the downsizer with one of its&nbsp;newest developments,&nbsp;<a href="/new-apartments/perspective-helm">Perspective Helm</a>.

Eight of the 10 residences have sold, with prices starting from $3.7 million. Each apartment has three to four bedrooms, a multi-purpose room, and garaging for three to four cars.

The rising price per square metre in Chevron Island—averaging $11,000 for two-bedroom apartments in 2024—reflects the suburb's growing demand.

<h2>Palm Beach</h2>

Palm Beach has been in a boom for years, with demand mainly coming from downsizers and rightsizers. This is due to the area's significant price growth and the types of apartments being developed.

Palmie dethorned Palm Beach as the Gold Coast's most popular suburb in November, with <a href="/news/qld/enquiry-for-new-apartments-in-palm-beach-hits-18-month-high">enquiry reaching an 18-month high</a>.

Hitting different demographics, with different budgets, is Sherpa. Their&nbsp;<a href="/new-apartments/perspective-nexus">Perspective Nexus</a>&nbsp;projects, its 12th development on the Gold Coast, comprises 35 two, three and four-bedroom apartments.

“We created <a href="/new-apartments/perspective-nexus">Perspective Nexus</a> to deliver luxury, and comfort residences and revolutionise beach living for local downsizers," Sherpa General Manager, Daniel Clarke, said.

“Our goal with Perspective Nexus is to transform beachfront living with state-of-the-art amenities and innovative design."

[smartcode_project:default project_id=108324 project_image_fid=250147]

Sherpa is catering for downsizers and rightsizers, in a different way, at its recently launched <a href="/new-apartments/flourish-on-sixth-ave-6-12-sixth-avenue-palm-beach">Flourish on Sixth</a>.

Flourish on Sixth is the first in Sherpa's new Flourish brand which is trying to cater for a wider buyer pool than just luxury apartments on or near the beach.

Over 60 per cent of the one, two and three-bedroom apartments have been snapped up. The one-bedroom apartments were being offered for under $600,000, and a large number of the two's under $1 million.

[smartcode_project:default project_id=146527 project_image_fid=311566]

The rooftop will have a lap pool, plunge pools, a gym, sauna, and a private kitchen and dining space.

LDS is set to build Flourish on Sixth, and will start construction in March.

[smartcode_project:default project_id=146527 project_image_fid=306037]

<a href="/developers/marquee">Marquee Development Partners</a> is also seeing success at La Belle Palm Beach, one project targeting that affluent downsizer.

“Palm Beach has emerged as one of the Gold Coast’s most sought-after markets and <a href="/new-apartments/la-belle-palm-beach-332-the-esplanade-palm-beach">La Belle</a> is a world-class project that we have designed to meet sustained demand for premium residences on the southern Gold Coast,” Marquee Development Partners Director, Jacques Winterburn, said.

La Belle comprises 75 residences, including five two-level beach houses with nearly 400 sqm of living space.

Just two weeks after its official public launch earlier this year, over $100 million worth of sales were snapped up, with sales prices ranging from $2.5 million to $7 million.

<a href="/developments/palm-beach-qld-4221">Palm Beach</a> is expected to see demand continue into 2025 with several new projects earmarked to launch early in the year.

<h2>Biggera Waters</h2>

<a href="/developments/biggera-waters-qld-4216">Biggera Waters</a>&nbsp;wasn't on the radar for Gold Coast off the plan apartments until Lewis Land put it on the map with its suburb-shaping new development,&nbsp;<a href="/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters">Harbour Shores</a>.

Harbour Shores, to be one of the most sustainable masterplans on the Gold Coast having received a 6 Star Green Star Communities rating from the&nbsp;<a href="/news/a-greener-future-green-building-council-australia-discuss-climate-change">Green Building Council</a>&nbsp;of Australia, has proven popular with the downsizer/rightsizer given the size of the apartments and houses. Its location near Harbour Town and the Broadwater Parklands have been two major drawcards.

[smartcode_project:default project_id=113271 project_image_fid=290022]

<a href="/developers/lewis-land-group">Lewis Land</a>&nbsp;Chief Executive Officer Brett Draffen said the vacant 16-hectare site, which has been held by the group for more than 40 years, would be transformed into a vibrant ‘village of villages’ that will ultimately be home to more than 4,000 people.&nbsp;

“<a href="/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters">Harbour Shores</a>&nbsp;represents the largest and most dynamic community development in&nbsp;<a href="/developers/lewis-land-group" target="">Lewis Land</a>’s 65-year history, delivering architectural homes and apartments immersed in nature and world-class amenities,” Draffen said.&nbsp;

“From the outset, we assembled a first-class team of architects, landscape designers, planners and placemaking experts and set an ambitious sustainability goal for&nbsp;<a href="/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters">Harbour Shores</a>&nbsp;to become the group’s first completely fossil-fuel-free development."

[smartcode_project:default project_id=113271 project_image_fid=290041]

Respected local builder&nbsp;<a href="/builders/greyburn">Greyburn</a>&nbsp;has been appointed to deliver the first collection of buildings which will be complted in mid-2026.

<h2>Burleigh Heads</h2>

<a href="/developments/burleigh-heads-qld-4220">Burleigh Heads</a> remains a hotspot for affluent downsizers, as the suburb continues to look more like Bondi than a quiet coastal Gold Coast suburb.

Several major hospitality venues have opened up, none more popular than Rick Shores, while The Mondrian, the Gold Coast's first Mondrian Hotel and branded residences, is soon to open to much fan-fare.

With beachfront developments offering large, luxurious apartments starting upward of $5 million, Burleigh Heads caters to a more mature demographic.&nbsp;

<a href="/buildings/burleigh-beach-houses-2-banksia-broadway-burleigh-heads">Burleigh Beach Houses</a>, the recently completed townhouses by&nbsp;<a href="/developers/21-property-group">21 Property Group</a>, have been most popular with downsizers and rightsizers.

The townhouses have four bedrooms, private lifts, outdoor entertaining areas, and plunge pools, near the beach and Burleigh's vibrant dining and shopping precinct.

Joel Robinson

The most popular suburbs on the Gold Coast for downsizers and rightsizers in 2025

Frames are up of the first batch of townhouses at Citrine, the latest townhouse community by <a href="/developers/metro-property-group">Metro Property</a>.

<a href="/new-apartments/citrine-townhomes-rochedale-311-gardner-road-rochedale">Citrine</a>, in <a href="/developments/rochedale-qld-4123">Rochedale</a>, around 17 kilometres&nbsp;south of Brisbane, will comprise 90 three and four-bedroom townhouses when completed in second half of 2025 through builder <a href="/builders/creation-projects">Creation Projects</a>.

[smartcode_project:default project_id=136295 project_image_fid=273145]

Over 60 per cent of the townhouses have already been snapped up. Construction of the townhouses in stage two has now commenced, with all slabs poured and framing underway.

The pool shell, located in the Citrine Resident’s facility, has now been completed and construction of the balance of the resident’s facilities will commence over the coming weeks.

[smartcode_project:default project_id=136295 project_image_fid=273134]

&nbsp;

The townhouses at&nbsp;<a href="/new-apartments/citrine-townhomes-rochedale-311-gardner-road-rochedale">Citrine</a>&nbsp;will feature two to three-level designs and provide a significant contrast to the predominantly single-family homes in the area.

Citrine is within walking distance of local schools, parks, and Rochedale Village. Rochedale Village features a large Coles supermarket, various dining options, pharmacies, medical services, and fitness facilities.

Read more:&nbsp;<a href="/news/qld/why-families-are-descending-on-citrine-townhomes-in-rochedale">Why families are descending on Citrine Townhomes in Rochedale</a>

[smartcode_project:default project_id=136295]

Rochedale's Citrine Townhomes hits 60 per cent sold as construction advances on first stage

Tech billionaire Robin Khuda’s <a href="/developers/ondas">Ondas</a> has received final approval for its long-awaited development in Sydney's millionaire's playground.

It's taken over three years for the six luxury apartments by <a href="/architects/rob-mills-architecture-interiors">Rob Mills Architecture</a> to be approved, on the Barrenjoey Road site of the former Palm Beach Fish &amp; Chips Shop.

The apartments will sit above three ground-floor retail spaces, next door to Barrenjoey House.

The approval follows years of revisions and challenges, including community opposition over concerns about height, bulk, and potential impacts on the area’s character.&nbsp;

Initial plans submitted in 2021 faced multiple setbacks, including rejection by the Northern Beaches Local Planning Panel and requests for significant design modifications to address community and planning concerns.&nbsp;

Despite these obstacles, the amended proposal has now been deemed a valuable addition to the Palm Beach locality.

Acting Commissioner Thorpe praised the project’s design, stating that it would “provide much-needed amenity, commercial business, and housing” while being “respectful of the adjacent heritage item.”&nbsp;

The site neighbours the historic Barrenjoey House, and its redevelopment is anticipated to enhance the area’s seaside atmosphere while maintaining its distinctive charm.

This project aligns with Khuda’s broader real estate ambitions under the Ondas banner, which focuses on high-end residential developments targeting affluent downsizers.&nbsp;

Ondas has recently completed six apartments in Manly, and they have a <a href="/news/vic/robin-khudas-ondas-gets-greenlight-for-22-million-st-kilda-apartment-development">project in St Kilda in Melbourne</a> which is expected to launch in 2025.

Billionaire Robin Khuda's Ondas secures Palm Beach apartments development approved

Multi-billion-dollar developer <a href="/developers/gurner">GURNER™ Group</a> has officially commenced demolition works at its $2.75 billion redevelopment of South Yarra's <a href="/new-apartments/500-chapel-street-south-yarra">Jam Factory on Chapel Street</a>.

GURNER™ Group and joint venture partner Qualitas purchased the remaining 65 per cent interest in the site from Newmark Capital in June after owning 35 per cent since 2021. &nbsp;

Heavy machinery arrived on-site this week with initial demolition works to remove all non-heritage components across the 20,000 sqm site, including the existing Village Cinema complex following their last day of operation last week, while protecting the building’s iconic façade.&nbsp;

[smartcode_project:default project_id=5351 project_image_fid=195659]

The construction milestone follows a decade of failed attempts by other developers to bring the project to fruition, with GURNER™ Group the first developer to overcome these challenges — a testament to its unparalleled expertise and reliability in delivering world-class major projects. &nbsp;

GURNER™ Group has this week unveiled renders of the new precinct that will be home to: &nbsp;

<ul>
	<li>600 residences over five&nbsp;towers&nbsp;</li>
	<li>10,000sqm commercial private office&nbsp;</li>
	<li>20,000sqm of&nbsp;retail and hospitality &nbsp;</li>
	<li>World Class Village Cinema + Gold Class complex &nbsp;</li>
	<li>5-star hotel (operator in final negotiations) &nbsp;</li>
	<li>A boutique lifestyle hotel &nbsp;</li>
</ul>

First constructed in 1858, the Jam Factory has enjoyed over 160 years of history, first as a brewery, &nbsp;then as a preserving and jam manufacturer, and later, as an iconic retail and cinema precinct that anchored Chapel Street through the heydays of the 1990s and 2000s. &nbsp;

GURNER™ Group has appointed international, award-winning architects SOM alongside local architects, Buchan to design the precinct, in conjunction with its in-house architect and interior design business GURNER DESIGN HOUSE. &nbsp;

<img alt="$2.75b, 20,000 sqm Jam Factory redevelopment" data-entity-type="file" data-entity-uuid="1425ab18-a82c-48ef-b59e-78cde055f7fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/View%20006.jpg?VersionId=ZLWiiYSImtmPgGE9t5j18hB3PxPvfZ2H" />

Iconic London landscape designer Townshend has been appointed to craft the impeccable gardens and landscaping that will emulate the grounds of Toorak Mansions. &nbsp;

The regeneration of the precinct, retail, hospitality and hotels will capture the essence of the world’s best retail and mixed-use precincts.&nbsp;

The design of the residential precinct will emulate some of New York’s most iconic residential and hotel addresses such as 220 Central Park South, alongside the grandeur of Toorak’s most expensive homes, complete with soaring high ceilings, large entry lobbies, libraries, games facilities and conservatory-like entertaining areas. &nbsp;

GURNER™ Group’s signature amenity offerings will once again be taken to another level with a &nbsp;private residents’ amenity of over 7,000 sqm across the stages and two world-class hotels.&nbsp;

[smartcode_project:default project_id=5351 project_image_fid=195659]

In a significant coup for the project, GURNER™ Group and Qualitas have re-signed Village Cinemas to anchor the new entertainment precinct once complete. The cinema giant has enjoyed a 40+ year tenure at the Jam Factory and will return with a new flagship offering as part of the precinct’s rebirth. &nbsp;

The Jam Factory redevelopment will deliver around 600 new dwellings over five towers in Melbourne’s sought-after inner fringe while anchoring the transformation of Chapel Street to reinvigorate it with a 2,500 sqm north-facing public piazza called Village Square with hotels, retail, hospitality, commercial office and residential.&nbsp;

Surrounded by extensive hospitality offerings with a mix of fine dining options, casual eateries, and bars that celebrate Melbourne’s culinary talent, the Village Square will sit alongside high-end retail and vibrant entertainment options to create a new centrepiece for Chapel Street. &nbsp;

Elevating the shopping experience, the project will feature a meticulously curated selection of luxury retailers, rivalling international luxury shopping destinations, creating a missing high-fashion midpoint between Melbourne’s Collins Street and Chadstone.&nbsp;

GURNER™ Group Founder and Chairman Tim Gurner said commencing works gives confidence to their high-end purchases of completion date and quality.&nbsp;

“ A truly once-in-a-lifetime opportunity for our brand and team and also for the luxury clients who are able to purchase in this incredible precinct," Gurner said.

“Commencing construction on the site is not just a significant milestone for GURNER™ Group, it’s a huge step forward for the reinvigoration of the entire Chapel Street precinct."

"Our aspirations are to spearhead a new coming of age for the precinct so we have made sure to design a destination that can bring together world-class events, activations and brands to the site and celebrate this special part of Melbourne."

The Jam Factory redevelopment will deliver around 600 new dwellings over five towers in Melbourne’s sought-after inner fringe while anchoring the transformation of Chapel Street to reinvigorate it with a 2,500 sqm north-facing public piazza called Village Square

GURNER commences demolition on $2.75 billion Jam Factory redevelopment in South Yarra

Mosaic Property Group has sold $210 million worth of apartments within the first two weeks of its new Kangaroo Point apartment development, <a href="/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point">The Bedford</a> by <a href="/developers/mosaic-property-group">Mosaic</a>.

The pre-sale result&nbsp;is&nbsp;Mosaic's strongest early Brisbane response ever, coming ahead of its scheduled public launch in January 2025.

<a href="/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point">The Bedford</a>, earmarked for a 3,195 sqm site at 25 Ferry Street that has been vacant for three decades, attracted more than 600 expressions of interest in a few weeks.&nbsp;

Mosaic Founder and Managing Director Brook Monahan noted the high anticipation surrounding the undertaking, set to become the first major development in the area in over a decade, with the bulk of sales coming from the Company’s database.&nbsp;

<img alt="The Bedford by Mosaic" data-entity-type="file" data-entity-uuid="db451ca6-af42-4f6c-b693-ef9bc317650f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Building%20NW%20Corner_Dusk.jpg?VersionId=nb083lLOUBqx3kHfXbm9liAyqKY_jpb." /> 
&nbsp; 
"The intense interest generated with minimal advertising speaks to the iconic nature of this development and its exceptional location," Monahan said.

"It also underscores the deep trust and confidence buyers place in the Mosaic brand and ability to deliver with consistency and quality."

Monahan says the Bedford introduces the peninsula’s first full-service supermarket alongside expansive luxury residences.

"With its timeless architectural design, it sets a new benchmark for inner-city living, seamlessly blending convenience and sophistication in one of Brisbane’s most cherished locations.”

Located in the Dockside precinct, The Bedford comprises 128 two and three-bedroom apartments across 17 levels.

Residents will enjoy sweeping city and river views, world-class amenities tailored to contemporary urban living, and easy access to Brisbane's riverside walks, parklands, and the CBD.

<img alt="The Bedford by Mosaic - living and dining area" data-entity-type="file" data-entity-uuid="fc3f1017-3a07-4342-bd3c-2e8704240b8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/SPH%20Living_Dining_Balcony.jpg?VersionId=MTIhfls3U1TZQk83mTKmxy37bBfB2heV" />

Following acquiring the site from Woolworths, Mosaic collaborated with Gold Coast-based architecture firm <a href="/architects/bda-architecture">BDA</a> to enhance the original Cottee Parker scheme.

The development will feature a 2,236 sqm Woolworths supermarket, accompanied by a café, liquor store, and ample basement parking—addressing a long-standing demand for essential amenities and convenience in the area.

&nbsp;

Solidifying its reputation as one of the region's most prolific developers, Mosaic has successfully delivered over 65 projects since 2012, with a combined value exceeding $2 billion, and has an additional $2 billion in projects either under construction or in the immediate pipeline. Currently, Mosaic is progressing three other sold-out addresses in Brisbane, all on track for completion in 2025.

<img alt="The Bedford by Mosaic - kitchen" data-entity-type="file" data-entity-uuid="a5d085e3-f413-465f-865a-427a7d042efa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/SPH%20Kitchen.jpg?VersionId=vKtm2TMBPDu_e7sOHwY1lX2J.wBbTVsH" />

Mosaic’s in-house construction arm, now ranked among the top-tier builders in Australia, will undertake The Bedford’s build.

Mosaic Construction recently earned a triple ISO certification in Quality, Environmental, and Occupational Health and Safety Management, cementing its reputation as a builder that meets the industry’s highest standards of quality, sustainability and safety.

Mosaic is gearing up for the official sales release of The Bedford, with prices starting from $1.3 million. Early construction is set to commence in 2025, with completion anticipated in 2027.

[smartcode_project_cta:default project_id=134792]

Mosaic is gearing up for the official sales release of The Bedford, with prices starting from $1.3 million

Mosaic secure $210m in pre-sales at The Bedford by Mosaic in Kangaroo Point

Builder-developer GRAYA is continuing its development push in Brisbane's <a href="/developments/new-farm-qld-4005">New Farm</a>.

Having recently completed <a href="/buildings/chalk-by-graya-228-230-moray-street-new-farm">Chalk</a> and currently delivering&nbsp;<a href="/new-apartments/york-new-farm-299-bowen-terrace-new-farm-qld-4005">York</a>&nbsp;in the popular riverside suburb, <a href="/developers/graya">GRAYA</a> has submitted plans for Ivory New Farm, just four luxury apartments on the Brisbane River.

The 17 Julius Street site spans 688 sqm and has 32-metre frontage to the river. It was bought by the Gray family for $8.5 million in late 2022&nbsp;from developer Tom Dooley, who had approved plans for a luxury four-level home.

It was reported that a home at that scale, on that rare of a site, would be worth around $20 million. A mid-1990s home sits on the block currently.

Ivory New Farm will have three full-floor apartments and an impressive two-level penthouse.

<img alt="Ivory" data-entity-type="file" data-entity-uuid="4f986697-7948-4fcf-bfef-c45765dc0493" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-12-11%20at%201.47.46%E2%80%AFPM.png?VersionId=XYxPX5iKxTAF2SZTUFVtnOcDgTSPleKU" />Each of the full floor apartments will have three bedrooms, kitchens with butler's pantries, and either a rumpus room or a bar with adjoining wine cellar.

The two-level penthouse has the same floor plan as the apartments on levels two and three, but has its own private rooftop terrace with rumpus room and second kitchen and steam room, a swimming pool, fire pit and lounge area, and stairs leading to a spa.

<img alt="Graya" data-entity-type="file" data-entity-uuid="91192fe9-fde1-41e2-99cc-0af4aa29b651" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-12-11%20at%201.47.39%E2%80%AFPM.png?VersionId=nkJ.Mpz6jnO.SRxzj4Ld9J.TVGopkXvh" />

GRAYA is operating across both Brisbane and the Gold Coast, in both the luxury house and apartment market.

They're seeking offers over $5 million for the final penthouse at Chalk.

They have Arc in <a href="/developments/kangaroo-point-qld-4169">Kangaroo Point</a> on the river, as well as <a href="/new-apartments/kloud-palm-beach-154-jefferson-lane-palm-beach">Kloud</a> and Ripple, both in <a href="/developments/palm-beach-qld-4221">Palm Beach</a> on the <a href="/developments/gold-coast-qld">Gold Coast</a>.

GRAYA is operating across both Brisbane and the Gold Coast, in both the luxury house and apartment market

First look: GRAYA files plans for Ivory New Farm apartments

Despite an interest rate cut not materializing in 2024 as many had anticipated at the start of the year, first home buyers appear content to enter the Sydney off the plan apartment market, somewhat reassured that rates are unlikely to rise in the short to medium term.

Data collected by MatterFact showed that first home buyers made up over 60 percent of enquiries in 2024 across New South Wales on Apartments.com.au, driven by more affordable stock coming to market outside the city, particularly in and around suburbs along the recently opened Metro line.

Speaking with first home buyers across Sydney in 2024, the main driver of their purchase is the ability to afford the deposit, having saved up while living at home. However, many feel they are not yet ready to take on a mortgage. They are looking to enter the property market but aren't prepared to begin repayments just yet, so they're opting to buy into new developments at the earliest possible stage, knowing that the construction period will likely be at least two years, by which time they will be better positioned to begin repayments.

In this article, we explore the most popular suburbs in Sydney for first home buyers in 2024, highlighting some of the most sought-after developments in these areas.

<h2>Castle Hill</h2>

<a href="/developments/castle-hill-nsw-2154">Castle Hill</a>&nbsp;has been one of the most popular suburbs for several years in the off the plan space.

Previously starved of new supply, the $1 billion Hills Showground precinct opening up to development sparked a frenzy of developers wanting to add to the new apartment pipeline.

The large developments that have come in recent years have catered for all markets, offering one-bedroom apartments, tailor-made for first home buyers and investors, through to larger apartments for downsizers.

Adding to the appeal for first home buyers is the newly opened Metro which connects to the centre of Sydney in around 30 minutes. That's now making Castle Hill a viable living option for those who need to work in the city, where prices for new apartments are considerably more expensive.

Tapping into first home buyer demand is <a href="/new-townhouses/larool-crescent-castle-hill-2-22-larool-crescent-castle-hill-nsw-2154">Larool Crescent</a>, one of the only developments to launch in Castle Hill in 2024 while others complete.

[smartcode_project:default project_id=135330 project_image_fid=289121]

First home buyers have jumped at the opportunity to buy a one-bedroom apartment at $650,000, several of which have been snapped up. The two-beds currently come in at just over $900,000, which is generally a price of a one-bedroom apartment in the Sydney inner-ring.

The low-rise project is made up of five architecturally designed buildings around a central courtyard near Castle Towers, one of Sydney's largest shopping centres.

[smartcode_project:default project_id=135330 project_image_fid=289164]

Larool Crescent is one of few developments in Castle Hill which is covered by Resilience Insurance's Latent Defects Insurance, a policy which protects buyers from any structural defects of the building for 10 years post-completion.

Larool Crescent is slated for completion in mid-2026.&nbsp;

<h2>Crows Nest&nbsp;</h2>

Another suburb to benefit from the metro boom is <a href="/developments/crows-nest-nsw-2065">Crows Nest</a>.

Previously relying on heading to the neighbouring St Leonards for a train, Crows Nest is now just minutes from the centre of Sydney on the metro, which is drawing first home buyers.

One of the most popular projects for the year, and it only launched a few months ago, is <a href="/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, the apartment development being delivered literally above the Crows Nest Metro Station.

[smartcode_project:default project_id=142550 project_image_fid=309367]

Third.i, and joint venture partner Phoenix Property Investors, have seen a great response to the 130 one, two and three-bedroom apartments that have been designed by Woods Bagot.

One-bedroom apartments, which are under $1 million, are being seen as a great investment given the rarity of a TOD (Transit Oriented Development) so close to the city, one which isn't easily repeatable.

[smartcode_project:default project_id=142550 project_image_fid=309368]

Not just first home buyers, but any buyer at Elevate can buy an apartment with just a $10,000 deposit, rather than the standard 10 per cent.

<h2>St Leonards</h2>

St Leonards is another benefitting from the spill over from Crows Nest.&nbsp;

Those projects that are in St Leonards, but bordering Crows Nest, are particularly attractive, like <a href="/developers/twt-property-group">TWT Property Group</a>'s recently released first stage of The Collective.

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One-bedrooms at $935,000 are the most attractive proposition for first home buyers. Belle Property, the agency in charge of the sales, has said most of the apartments sold so far have been grabbed by locals.

<h2>Merrylands</h2>

Builder-developer <a href="/developers/coronation-property">Coronation Property</a> targeted <a href="/developments/merrylands-nsw-2160">Merrylands</a>&nbsp;in Sydney's west,&nbsp;as an area where they could lift the supply of affordable housing

Rapidly gentrifying, Merrylands offers connectivity to Sydney and lifestyle at the doorstep, two factors high on a first home buyers wishlist.

Coronation's project,&nbsp;<a href="/buildings/mason-main-merrylands-245-merrylands-road-merrylands-nsw-2160">Mason &amp; Main</a>, is a rare new development with studios, an apartment configuration barely ever seen in the new market. They start at $520,000, meaning first home buyers are exempt from paying stamp duty.

[smartcode_project:default project_id=31751 project_image_fid=257777]

The two-bedroom, two-bathroom apartments also aren't subject to stamp duty given they start from $760,000, under the $800,000 threshold.

Part of Mason &amp; Main is an integrated&nbsp;'Eat Street', which has proven an attractive addition for first home buyers who don't have to travel far to dine out.

<h2>Rockdale</h2>

<a href="/developments/rockdale-nsw-2216">Rockdale</a>, in southern Sydney has emerged as a popular spot for first home buyers, one of the closest to the beach.

Near Brighton-Le-Sands but with the transport links and amenity of being in an inner-city suburb, Rockdale has garnered interest from those looking to live near the sand without the pricetag.

The newest development in the suburb is&nbsp;<a href="/new-apartments/marque-rockdale-602-608-princes-highway-rockdale">Marque Rockdale</a>, a seven-level building with one-bedroom apartments designed for modern living.

[smartcode_project:default project_id=136442 project_image_fid=277072]

Marque also offers the sought-after Latent Defects Insurance policy, which buyers are willing to pay a premium for when deciding to purchase a new apartment

Already topped out and advancing to a late 2025 completion date, one-bedroom apartments in Marque start at $650,000.

The Sydney suburbs first home buyers are looking to buy off the plan apartments

Downsizers and rightsizers have dominated the new and off the plan apartment market in 2024.

The two camps, downsizers in particular, are the least impacted by the continued high interest rates compared to a first home buyer or investor, positioning them as a key target for developers. Most of the new apartment developments that have come to the market in 2024 have been large apartments that suit the size and budgets of a downsizer.

Many downsizers have built significant equity in their family homes over the years and are now looking to move into more manageable living spaces, while also securing funds for retirement.

But where are downsizers and rightsizers looking to buy?&nbsp;

In this article, we've looked at the most popular suburbs in Melbourne for both buyer demographics, highlighting some of the most popular developments in those areas.

<h2>Glen Iris</h2>

The leafy <a href="/new-apartments/glen-iris-vic-3146">Glen Iris</a>, regarded as the geographical centre of Melbourne, is a suburb that, once you live there, you will never want to leave, which makes it an ideal suburb to be developing for downsizers.

The 3146 postcode offers a perfect blend of suburban charm and connectivity to greater&nbsp;<a href="/developments/melbourne-vic" target="">Melbourne</a>. It boasts some of the best schools in the city, as well as easy access to the central business district.

Heath Thompson, Director at Projects by Buxton, has sold out several new apartment developments over the years and notes that&nbsp;<a href="/developments/glen-iris-vic-3146">Glen Iris</a>&nbsp;has long been regarded as one of&nbsp;<a href="/developments/melbourne-vic" target="">Melbourne</a>’s top suburbs for families and downsizers.

"You find that those who move to&nbsp;<a href="/new-apartments/glen-iris-vic-3146">Glen Iris</a>&nbsp;often stay for generations," Thompson says.

"Generally speaking, young families move to&nbsp;<a href="/new-apartments/glen-iris-vic-3146">Glen Iris</a>&nbsp;to enjoy a family-friendly lifestyle, with some of the best schools and parks in&nbsp;<a href="/developments/melbourne-vic" target="">Melbourne</a>. As they approach the empty-nesting phase, these parents often look to downsize locally because soon enough they’ll be grandparents, and their children will likely raise their families in&nbsp;<a href="/new-apartments/glen-iris-vic-3146">Glen Iris</a>&nbsp;as well. This creates a generational knock-on effect, making&nbsp;<a href="/new-apartments/glen-iris-vic-3146">Glen Iris</a>&nbsp;a really tight-knit community," Thompson explains.

Thompson has just one apartment remaining in <a href="/buildings/galerie-glen-iris-1538-1540-high-street-glen-iris-vic-3146">GALERIE</a>, which will be welcoming buyers in the coming months. Downsizers have driven the majority of the sales of the 29 apartments.

[smartcode_project:default project_id=112375 project_image_fid=250357]

Equally popular over 2024 has been <a href="/new-apartments/lori-glen-iris-1610-malvern-road-glen-iris">Lori</a>, which brings a different lens of downsizing to Glen Iris.

Offering low maintenance townhouses which are due to complete in March 2025, only two homes remain for sale in the development by billionaire Larry Kestelman's LK Property Group.

The three-bedroom townhouses have been designed by Megowan Architecture and&nbsp;feature high ceilings and full-length windows to maximise natural light and provide views of the preserved 100-year-old trees on the site.

[smartcode_project:default project_id=114100 project_image_fid=246529]

The most recently launched new apartment development for downsizers in Glen Iris is <a href="/new-apartments/avery-glen-iris-1542-1544-high-street-glen-iris-vic-3146">Avery</a>, just 24 apartments next door to GALERIE on High Street.

<a href="/architects/alta-architecture">Alta Architecture</a>, embraced&nbsp;the principles of wabi-sabi, a Japanese design philosophy that emphasises natural simplicity and strength.&nbsp;

Alvin Xu from Alta said the aim was to create tranquillity within the busy city environment, integrating natural elements and gardens into indoor living spaces to foster a sense of calm.

[smartcode_project:default project_id=22546 project_image_fid=288305]

Demand for downsizers is expected to continue into 2025, particularly when Time &amp; Place <a href="/news/vic/first-look-time-place-and-woolworths-greenlit-for-glen-iris-mixed-use-precinct">launch their mixed-use project</a> with Woolworths that will see 60 two and three-bedroom apartments developed on Burke Road.

<h2>Brighton</h2>

Brighton has long been one of Melbourne's bluechip suburbs, with house prices among the highest in the city.

It's another suburb that those who have lived in Brighton for most of their life, don't want to leave. It is also a suburb for the aspirational buyer in the new apartment market. The buyer who can't afford a house in the affluent suburb, but could downsize or rightsize into it.

"Brighton offers one of the best lifestyle offerings in Melbourne," developer Adam Sloane said.

"There’s the beach, the parks, the café culture, cinemas, retail… it has it all."

<a href="/developers/sloane-property">Sloane</a> is currently developing <a href="/new-townhouses/111-carpenter-brighton-111-carpenter-street-brighton">111 Carpenter</a>, just seven townhouses near Brighton Station. All seven townhouses are north-facing, and some feature a master bedroom on the third level which overlooks neighbouring rooftops.

[smartcode_project:default project_id=7517 project_image_fid=229014]

Each townhouse has either three or four bedrooms across two of three levels. The open plan living area opens through bifold doors to private landscaped gardens by&nbsp;<a href="/landscape-architect/john-patrick-landscape-architects">John Patrick</a>&nbsp;Landscape Architects. Each home has a double garage.

"I knew 111 Carpenter was a fantastic, central site for a townhouse project based on the tree-lined streets, shops, schools and transport which are all at your door," Sloane added.

"It is the ideal spot to base your family and explore all that Bayside has to offer."

[smartcode_project:default project_id=7517 project_image_fid=214119]

Golden Age will try and tap into the more luxury townhouse market in the new year when it launches its high-end development on the former site of&nbsp;Xavier junior school.

They have <a href="/news/vic/victorian-planning-minister-approves-golden-age-townhouse-development-in-brighton">plans approved</a> for 84 new homes across the <a href="/new-townhouses/47-south-road-brighton-vic-3186">3.3-hectare site at 47 South Road</a>.

<h2>Ivanhoe</h2>

The north-east Melbourne suburb of&nbsp;<a href="/developments/ivanhoe-vic-3079">Ivanhoe</a>&nbsp;has been starved of new apartments in recent years.

Only a quarter of dwellings are apartments, according to the latest census data.&nbsp;

Alternative investment managers <a href="/developers/salter-brothers">Salter Brothers</a>&nbsp;saw a gap in the market and is currently delivering&nbsp;<a href="/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe">Candela</a>, strategically located at the entrance of Ivanhoe Village and near to all the community has to offer.&nbsp;

[smartcode_project:default project_id=342 project_image_fid=169535]

The neighbourhood has a WalkScore of 90 out of 100, ideal for young families and downsizers with access to parks, restaurants, and prestigious schools.

Candela will comprise just 62 one, two, three and four-bedroom apartments designed by <a href="/architects/john-demos-architects">John Demos Architects</a>.

[smartcode_project:default project_id=342 project_image_fid=169551]

In addition to enjoying all the surrounding neighbourhood has to offer, Candela Ivanhoe also includes communal spaces, such as multiple outdoor seating and dining opportunities amid landscaping, an atrium, a wine bar, a providore, and a rooftop garden.

<h2>Hampton/Hampton East</h2>

Much like Brighton in 2024, new apartment supply in Hampton and its neighbouring Hampton East has been geared toward larger-scale apartments.

Despite Hampton East's population rising above 5,000 from the 2016 census to the most recently collected census in 2021, the percentage share of apartments declined.

Chad Arbid Projects Director Chad Arbid said it's no wonder Channel 9 chose Charming St in Hampton East to film The Block in 2023.

"<a href="/developments/hampton-east-vic-3188">Hampton East</a> is an affordable Bayside suburb known for parks, the beach, the best schools, shopping strips – like Hampton St, Bay St and Church St, restaurants and cafes, gyms, golf courses and medical centres - all within easy reach," Arbid says.

Arbid is marketing&nbsp;<a href="/new-apartments/casa-tranquila-hampton-east-15-19-king-street-hampton-east">Casa Tranquila</a>&nbsp;by <a href="/developers/marcopolo-property">Marcopolo Property</a>, just around the corner from the five Block houses which sold for suburb record prices last year.

[smartcode_project:default project_id=113441 project_image_fid=208735]

Casa Tranquilla, one street back from the South Road thoroughfare comprises one, two, and three-bedroom apartments.

<a href="/developers/wickton">Wickton</a> was another developer focusing on downsizers and rightsizers at&nbsp;<a href="/new-apartments/linacre-rise-hampton-8-10-linacre-road-hampton">Linacre Rise</a>, next door to Linacre Private Hospital, a consdieration a lot of downsizers have when buying.

[smartcode_project:default project_id=95289 project_image_fid=229694]

Linacre Rise will have 27 apartments, 15 two-bedroom apartments and 12 three-bedroom apartments.

<h2>Elsternwick</h2>

<a href="/developments/elsternwick-vic-3185">Elsternwick</a>&nbsp;hasn't typicallly procued apartments that cater for downsizers or rightsizers. Not until design-driven developer Milieu revealed <a href="/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, its garden community next door to the landmark Rippon Lea Estate.

<a href="/developers/milieu-property">Milieu</a> leaned into the fact the site no Gordon Street shares the boundary with the heritage-listed gardens that surround the 1880s-built mansion, with a private, secure gate that only future residents of Elsternwick Gardens can access.

[smartcode_project:default project_id=136535 project_image_fid=288412]

Aside from being located next door to Rippon Lea Estate, future Elsternwick Gardens residents will be a short walk from the centre of Elsternwick to the south, with its train station, shopping precinct and range of restaurants and cafes and the vibrant village or Ripponlea Village to the northwest.&nbsp;

The precinct will also include amenities such as health and wellness facilities, a simulation golf area, and for pet care, car washing facilities and hobby workshops, as well as a hospitality offering.

Milieu Managing Director Michael McCormack said Elsternwick Gardens is a once-in-a-generation opportunity.

[smartcode_project:default project_id=136535 project_image_fid=288414]

Also seeing interest from rightsizers and downsizers is the larger apartments at&nbsp;<a href="/buildings/eva-elsternwick-village-apartments-241-glen-huntly-road-elsternwick">EVA</a>, suited to those who want to be in the heart of the village&nbsp;just 130 metres road from Elsternwick Station.

The large three-bedroom apartments, not common in the local area, are some of the largest Elsternwick has seen.&nbsp;

The completed development by builder-developer&nbsp;<a href="/developers/pitard-group">Pitard Group</a>&nbsp;was completed in 2023.

In this article, we've looked at the most popular suburbs in Melbourne for both buyer demographics, highlighting some of the most popular developments in those areas

Melbourne’s most popular suburbs for downsizing and rightsizing in 2024

<a href="/developers/aniko-group">Aniko Group</a>, one of Queensland’s leading builder-developers, is getting set to embark on one of the most sought-after projects to be launched on the Gold Coast in recent years.

Aniko Group, headed by George Mastrocostas, is taking registrations of interest at&nbsp;<a href="/new-apartments/the-landmark-mermaid-beach-14-seaview-avenue-mermaid-beach-qld-4218">The Landmark</a>, a groundbreaking $2 billion mixed-use project located in Mermaid Beach.

The ambitious development will consist of four towers, blending apartments, high-end office spaces, a fine dining precinct, and an internationally branded upper-luxury hotel.

The first release consists of 240 apartments. There will be around 800 in the overall precinct.

[smartcode_project:default project_id=134338 project_image_fid=311027]

“We are incredibly excited to bring The Landmark to life in <a href="/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” said George Mastrocostas, Founder and Managing Director of Aniko Group.&nbsp;

“This project reflects our dedication to creating iconic spaces that not only redefine residential living but also enrich the surrounding community.

“We are encouraging those interested to register early, as The Landmark promises to be a highly sought-after address for those looking to experience a premium coastal lifestyle.”

[smartcode_project:default project_id=134338 project_image_fid=311026]

Landmark’s two and three-bedroom apartments have been designed to maximize views of the beach, city, and river.

Designed in collaboration with renowned architects at Plus and the expert team at Aniko Group, The Landmark merges contemporary coastal architecture with luxurious amenities that enhance the lifestyle experience.&nbsp;

Residents of The Landmark will enjoy an exceptional suite of amenities, which include a pickleball court, an outdoor lagoon pool, a dedicated Pilates studio, a golf simulator, an arcade, a sauna, spa, and a fully equipped gymnasium featuring state-of-the-art fitness equipment.

[smartcode_project:default project_id=134338 project_image_fid=311031]

Strategically positioned on Mermaid Beach, the development grants residents convenient access to the area’s pristine beaches, premier shopping at Pacific Fair, and a wide selection of dining and entertainment venues, including The Star Casino and the lively precincts of Broadbeach and Burleigh Heads.

Aniko Group brings a proven track record of delivering exceptional large-scale projects on schedule and with a commitment to quality. Following the successful completion of a $500 million waterfront transformation at Hope Island and the upcoming $145 million Orama project on Chevron Island, Aniko Group has further solidified its reputation as a trusted and reliable developer-builder. The company is preparing to redeploy its skilled construction teams to The Landmark in early 2025, ensuring the project will be built to the highest standards of quality and craftsmanship.

With its distinctive design, comprehensive amenities, and prime location, The Landmark is positioned to become a defining addition to the Gold Coast skyline and a coveted address for buyers and investors from across Australia and beyond.

[smartcode_project_cta:default project_id=134338]

Landmark’s two and three-bedroom apartments have been designed to maximize views of the beach, city, and river.

Registrations of interest start at Aniko's Mermaid Beach precinct, The Landmark

Splitting time between <a href="/developments/sydney-nsw">Sydney</a> and the <a href="/developments/gold-coast-qld">Gold Coast</a> has never been so popular.

While a long-favoured destination for Sydney families seeking a summer getaway, the Gold Coast is growing in popularity among retirees who are making it their second home, and sometimes, their primary residence.

Of course there are also who already have the beachside lifestyle in Sydney, but are looking for something else.

That was the case for David and Antoniette Richards, who have been Mosman locals for several decades. They recently secured a <a href="/new-townhouses/capri-villas-81-salerno-street-isle-of-capri">villa in Capri</a>, the gated community currently being delivered by <a href="/developers/monaco-property-group">Monaco Property Group</a> on the <a href="/developments/isle-of-capri-qld-4217">Isle of Capri</a>, across a bridge from <a href="/developments/surfers-paradise-qld-4217">Surfers Paradise</a> and all of the connectivity that comes with it.

&nbsp;

[smartcode_project:default project_id=139511 project_image_fid=324087]

The couple had been exploring their options and how they want to downsize. Looking at the local Mosman market, and the $5 million-plus prices that were being commanded for two and three-bedroom apartments, they decided to look north.

“We’ve been holidaying on the Gold Coast for the last four decades, and as we approach retirement, we wanted to spend more time here,” says David, a former journalist and media executive. “The decision to move north was an easy one. The question for us was where.”

For David and Antoniette, it wasn’t necessarily to make a sea change.

“Initially, we looked at places like <a href="/developments/broadbeach-qld-4218">Broadbeach</a> and <a href="/developments/main-beach-qld-4217">Main Beach</a>, but we didn’t feel the need to be right on the beach,” says David, whose home overlooks Balmoral Beach in Mosman. “What really appealed to us was the size of the properties and the type of community we could become part of.”

When they discovered the <a href="/new-townhouses/capri-villas-81-salerno-street-isle-of-capri">Capri</a> development, everything clicked. “When we saw what Monaco Property Group was offering, we knew it was the right fit for us,” David recalls.

&nbsp;

[smartcode_project:default project_id=139511 project_image_fid=324095]

The Richards secured a three-level, four-bedroom townhouse in the villa community of 48 residences, paying a fraction of what they would have paid for something similar in Sydney. “It’s incredible value for money,” David says. “You couldn’t get anything like this in a desirable Sydney suburb.”

Beyond the financial benefits, the location of <a href="/new-townhouses/capri-villas-81-salerno-street-isle-of-capri">Capri</a> was a major draw. The development is nestled near golf clubs, cafes like Via Roma, and is far enough from the Gold Coast’s major tourist zones to offer a more tranquil lifestyle. “It’s the best of both worlds,” David adds. “We’re close to everything, but not caught up in the noise.”

&nbsp;

[smartcode_project:default project_id=139511 project_image_fid=324091]

Antoinette, a seasoned interior designer, was particularly excited about the possibilities the new space presented. The couple has built and designed several homes together in Sydney, and Antoinette knew exactly what to look for when it came to both the layout and finishes of their new home.&nbsp;

“NPA Projects took us through the specifications, and Plus Architecture and BDA designed a floorplan that suited our needs perfectly,” David says. “The multi-generational layouts, private lift, and high-end appliances really sold us on the place.”

The central amenities at <a href="/new-townhouses/capri-villas-81-salerno-street-isle-of-capri">Capri</a> were also key to their decision.&nbsp;

“The smaller downsizer buildings in Sydney didn’t offer the level of amenities we wanted. We wanted a real sense of community, where we could interact with neighbours and see familiar faces at the pool, rather than constantly encountering short-term renters and holidaymakers.”

&nbsp;

[smartcode_project:default project_id=139511 project_image_fid=324094]

While the housing type, design, specifications, location and price boxes were all ticked, a purchase wouldn’t have happened without confidence in the team delivering <a href="/new-townhouses/capri-villas-81-salerno-street-isle-of-capri">Capri</a>.

“I was impressed with the developer and his passion for the project,” David said.

“We were told he was a local <a href="/developments/isle-of-capri-qld-4217">Isle of Capri</a> resident, and that helped in our understanding of what the project meant to him.”&nbsp;

[smartcode_project:default project_id=139511 project_image_fid=298831]

David said nowadays, you really have to do your research.&nbsp;

“Buildings from the 70s through to the 2000s were built to last, and there wasn’t much to worry about when it came to researching the developers behind them. But now, buyers have to be more diligent. You really need to understand who is behind a project before committing,” he says.

Adding to the confidence of the developer was the build partner, Greyburn, who has delivered a string of projects up and down the Gold Coast for over 20 years.

Greyburn is a solid builder in South East Queensland, and it’s easy to see they deliver what they promise. We feel confident in their ability to complete the project to the highest standard.”

Construction of <a href="/new-townhouses/capri-villas-81-salerno-street-isle-of-capri">Capri</a> is set to complete in mid-2025. A handful of villas remain for sale.

David and Antoniette took part in Urban's Buyer Q&amp;A series which focuses on the driving factors behind&nbsp;<a href="https://expert-insights/buying/the-top-eight-considerations-when-buying-off-the-plan" target="">buying off the plan</a>&nbsp;property in Australia.

[smartcode_project_cta:default project_id=139511]

Construction of the villa development, Capri, is set to complete in mid-2025

From Mosman to Isle of Capri: Why Sydney buyers are heading to the Gold Coast

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

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Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

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According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Joel Robinson

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