In the penthouse market, buyers expect the highest level of detail in every aspect of the apartment, from the design and orientation to the finishes.

Respected Brisbane developer, <a href="/developers/consolidated-properties">Consolidated Properties</a>, left no stone unturned when crafting the penthouses atop <a href="/new-apartments/monarch-residences-toowong-600-coronation-drive-toowong">Monarch Residences</a>, one of the best riverfront apartment developments produced on the Brisbane River in decades.

[smartcode_project:default project_id=113455 project_image_fid=302326]

They knew exactly the clientele they were creating their apartments for, the affluent downsizer.

The Consolidated team recently revealed the final six residences&nbsp;atop the two-tower development, now over 95 per cent sold and under construction by building giant Hutchinson's Builders.

We recently visited the Monarch Residences display suite, on site at&nbsp;at 600 Coronation Drive, <a href="/developments/toowong-qld-4066">Toowong</a>, to chat with Don and the team at Consolidated about what made the penthouse collection special.

<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/dUSgZQJf5qI?si=Judv55Ncbs0dIgpn" title="YouTube video player" width="560"></iframe>

Don says the team worked closely with&nbsp;<a href="/architects/john-wardle-architects">John Wardle Architects</a> and <a href="/architects/cottee-parker-architects">Cottee Parker</a>&nbsp;to create a collection of uncompromised focus on quality, timelessness, and attention to detail.

The final penthouses, created to evoke the same grandeur as a home just without the additional maintenance, range in size from 295 sqm to 347 sqm.

[smartcode_project:default project_id=113455 project_image_fid=302322]

They each have different floorplans, but the level of luxury is the same throughout, from soaring 3.4-metre-high ceilings to sweeping views of the Brisbane River and the city skyline from the riverfront terraces.

Everything in the penthouses is top-of-the-line. Herringbone European oak flooring features throughout the living areas, while the kitchen, fitted with a suite of&nbsp;premium V-ZUG Swiss appliances, is anchored by an oversized island bench with&nbsp;Dolce Vita quartzite.

Prospective penthouse buyers, as well as those who have been lucky enough to secure a piece of Monarch Residences, will be moving into the riverfront development in late 2025.

[smartcode_project_cta:default project_id=113455]

The final penthouses, created to evoke the same grandeur as a home just without the additional maintenance, range in size from 295 sqm to 347 sqm.

Joel Robinson

"A once-in-a-lifetime opportunity": Don O'Rorke discusses the Monarch Residences Penthouse Collection

The redevelopment of the landmark Shafston Estate, on over one-hectare of Brisbane River land in <a href="/developments/kangaroo-point-qld-4169">Kangaroo Point</a>, looks to be edging closer.

The plans are back with the Brisbane City Council to increase the density of the project, which was given the green light in early 2023.

Developer Burgundy Group had sought to develop a 15-level tower with 37 apartments designed by Rothelowman in 2022, with approval received in March last year.

The latest submission has come from&nbsp;Verso Development Group, an entity directed by Chinese-born Siwen Pan, who is believed to have taken over the 10,070 sqm site at 23 Castlebar Street.

Verso has brought in&nbsp;Kerry Hills Architects (KHA) to revise the plans for the unrepeatable site that is home to the&nbsp;1851, heritage-listed Shafston House, built by the Reverend Robert Creyke&nbsp;as a single-storey cottage called Ravenscott.

The proposal is for the tower to increase in levels to 25 and the apartments to go from 37 to 51.

<img alt="Shafston" data-entity-type="file" data-entity-uuid="55a90156-a5eb-420f-922c-e0bed0a6726e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-11-20%20at%202.02.43%E2%80%AFPM.png?VersionId=COey.vBpwZE_JIMeVG8cQpsXjIJHMFeq" />

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane’s finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," KHA noted in its Urban Context Report.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

The submission noted the departure point for the project is to celebrate the heritage elements that exist on the site.

"These elements manifest the layers of post-settlement history in Brisbane, and as part of the project they will be carefully and faithfully restored. They will be reinvigorated with uses that are closely associated with their original purposes as domestic and restorative spaces."

<img alt="Shafston" data-entity-type="file" data-entity-uuid="00cd19a0-27fa-47ea-8066-a781aabc893f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-11-20%20at%202.02.23%E2%80%AFPM.png?VersionId=SOFJU_WZr3RZjbe6zmGFNUOWzkZoOuJD" />

Verso was recommendaed by Urbis to provide an independent design review of the proposed changes to the existing code assessed development approval of the Shafston Estate.

Malcolm Middleton Architects produced the review on the former plans, suggesting they

"The proponent of the site has a vision of this unique property that exceeds the code assessed approval and associated design compliance approach," the review read.

"The amended design seeks to deliver a project that will make a significant contribution to the quality of the city residential standards as well as focal point of architectural expression that will create an urban uplift for the site specifically and the city overall."

As well as the new tower, there would be two riverfront homes, and a guest house in the retain Postal Depot Building.

Further changes to the 2023 approval include a new section of riverwalk along the river frontage of the site as public infrastructure, and a six-berth private marina will be constructed on the river out from the riverwalk, in place of the existing pontoon.

Verso has brought in Kerry Hills Architects (KHA) to revise the plans for the unrepeatable site that is home to the 1851, heritage-listed Shafston House, built by the Reverend Robert Creyke as a single-storey cottage called Ravenscott

Kangaroo Point's iconic Shafston House gets closer to apartment redevelopment

Everything about the inception of Australia 108, Melbourne's tallest residential tower, was groundbreaking, and to this date, still is.

The first proposal for <a href="/buildings/australia-108-southbank-70-southbank-boulevard-southbank">Australia 108</a> dates back to 2009 when Fender Katsalidis, now FK, drew up plans for what was then a 226-metre-high tower with 526 apartments.

Three years later, those plans were significantly upscaled, taking it to 388 metres and well over 100 levels. The increase in levels would see apartment numbers jump to 646, and a six-star hotel included among office and retail levels.

Despite approval granted by the then Victorian Planning Minister Matthew Guy, Government entities wouldn't make concessions to help deliver a building that breached height restrictions. It was also reported that the tower was so tall that it would have infringed on federal regulations protecting aircraft safety.

Singaporean developer World Class Global then swooped on the large site at 70 <a href="/developments/southbank-vic-3006">Southbank</a> Boulevard in 2013, scaling the plans down to a 317-metre high skyscraper with 100 levels and 1,105 apartments, an increase in density that saw the hotel component removed. It would still make it the second tallest building in Australia, only behind the QT on the Gold Coast.

Nonda Katsalidis led the design delivery of Australia 108, taking elements of the design from the nearby Eureka Tower which he also designed. Eureka, developed in 2006, is Melbourne's second tallest tower.

Since its completion in 2020, Australia 108 still stands as the tallest residential tower in the southern hemisphere, a&nbsp;title which will be difficult to replicate given the cost of building since the onset of COVID-19, paired with the scarcity of land across Australian cities where height limits are all-but unrestricted.

When a property is difficult to replicate, it can be a strong indicator of future price growth.

[smartcode_project:default project_id=582 project_image_fid=182851]

A major difference at Australia 108 compared to the current crop of off the plan apartment towers in Melbourne, and across the country, is that the highest levels are necessarily solely reserved for the penthouses. Because of the sheer scale of Australia 108, one and two-bedroom apartments can be purchased 67 levels into the sky, something no other development in Melbourne can offer.

There are two types of residence collections on offer at Australia 108, each with interiors by the renowned <a href="/architects/carr-design">Carr Design</a>.

The Sky Rise Residences, with one and two-bedroom apartments, deliver practical layouts and a timeless design suited to city living, starting from $560,000.&nbsp;

[smartcode_project:default project_id=582 project_image_fid=79946]

The Cloud Residences, positioned from level 72 upwards, comprise expansive three-bedroom layouts resembling the proportions of a traditional home. These apartments range from 120 sqm to 211 sqm and start at $1,528,000.

Each apartment features expansive floor-to-ceiling windows so residents can not only look across the Melbourne city skyline, but look over it.

Given the size of Australia 108, it was important to match that with more than the standard levels of resident facilities.

[smartcode_project:default project_id=582 project_image_fid=182879]

Level 11 comprises the Sky Rise Club, home to a&nbsp;fully equipped gym with a steam room and sauna, a swimming pool, theatre, and a golf simulator.

The Star Club, on levels 70 and 71, might offer the highest resident amenity in the country, excluding rooftops. Over 2,800 sqm is reserved for more facilities across the two levels. There are&nbsp;dual glass infinity pools with extensive views, two gyms, five dining rooms, a sky garden, a private cinema, a reading room, and a luxurious lounge.

Australia 108 apartments are completed and ready to move in.

[smartcode_project_cta:default project_id=582]

A major difference at Australia 108 compared to the current crop of off the plan apartment towers in Melbourne, and across the country, is that the highest levels are necessarily solely reserved for the penthouses

Inside Australia 108: The groundbreaking Melbourne apartment tower offering the highest apartments in the southern hemisphere

A growing family and a long-term commitment to a lifestyle that ticked all the boxes were the two key drivers behind the recent purchase of a penthouse at Killarney Ponds in&nbsp;<a href="/developments/box-hill-nsw-2765">Box Hill</a>.

<a href="/new-apartments/killarney-ponds-box-hill-4-alan-street-box-hill-nsw-2765">Killarney Ponds</a>, the new development by&nbsp;<a href="/developers/kellarney-developments">Kellarney Developments</a>&nbsp;that is slated for completion early next year, has been intentionally designed so it not only offers larger-scale apartments than any other new development in the area, but the community facilities to match, creating an environment where its residents can thrive privately and socially.

We recently spoke with a buyer of one of the penthouse apartments to hear firsthand why they bought in&nbsp;Killarney Ponds.

<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/wy4Blv8jK-A?si=rKKxGXAMzh4jUSDj" title="YouTube video player" width="560"></iframe>

The young family secured a two-level penthouse, with three bedrooms set privately on the second level, away from the main kitchen, living and dining space. The apartment, including terraces, spans around 140 sqm, one of the biggest apartments in Box Hill.

The buyer spoke not only about the rarity of such an apartment, but also about the facilities within the building that they intend to use. Residents will have access to&nbsp;a function room, outdoor barbecue area, and playground on level one, along with a gym and technology hub on level two.&nbsp;

There's also an exclusive rooftop terrace reserved just for the penthouse owners.

[smartcode_project:default project_id=22636 project_image_fid=297514]

Speaking about buying off the plan for the first time, the purchaser said it suited their needs because the family didn't need to move in straight away.

"We wanted to find the right place because this is a long-term decision that we're making for our family," the buyer said.

"It's a 10+ year decision for us, so we didn't want to rush into looking for an established place if we didn't need to. we would rather wait, and when we saw the opportunity, and say all the boxes were ticked, we jumped on it and it was a no-brainer."

[smartcode_project:default project_id=22636 project_image_fid=297513]

It was the first time purchasing off the plan, and the buyer highlighted the effort taken by the McGrath Projects team to help them understand the process.

Reputable builder Sitecorp is approaching completion of the building, with internal fitout to commence soon after.&nbsp;

[smartcode_project_cta:default project_id=22636]

Speaking about buying off the plan for the first time, the purchaser said it suited their needs because the family didn't need to move in straight away

Why apartments at Killarney Ponds in Box Hill are suiting the family buyer: Urban Buyer Q&A

Local downsizers have responded in droves to what prominent Perth developer, Megara, has put together in North Fremantle.

They've recently started construction at Serai, a new mid-rise apartment development designed specifically to cater to downsizers through its larger-than-normal floorplans, high-end fixtures and finishes, and an equally high level of resident facilities, something that tends to be looked upon favourably by those downsizing.

Over 80 per cent of the purchasers so far have been downsizers, predominantly locals, something which Megara knew they were going to see when they drew up the plans.

"We expected the local downsizer market to make up most of our purchasers," Megara Director Jamie Clarke says, adding that everything about the building and its location is tailor-made for that specific buyer demographic.

Megara worked with architect Felipe Soto who cleverly designed the two buildings to encapsulate everything locals love about North Fremantle; the coast and the river. Apartments feature floor-to-ceiling windows that draw in natural light and frame views of the Indian Ocean and Swan River.&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=186198]

While downsizers have jumped at the largest apartments, the three and four-bedroom apartments, as well as the small collection of four-bedroom townhouses, the two and one-bedroom apartments have also proven popular.

"The well-trodden path for a downsizer is to trade out of the family home into a large apartment, so the downsize doesn't seem too daunting and they still have space to have extended family or guests stay, but that's not the path for everyone," Clarke says.

"Budgets naturally influence what you're going to move into, but we've had several downsizers opt for our one-bedroom apartments because they don't want, or need, the additional space. They want to lock the door and spend their retirement traveling."

The boom in the Perth market over the last few years has encouraged a stronger downsizer movement, Clarke says. So far in 2024, Perth house values have risen 18.2 per cent, the best-performing capital city by some margin. In turn, unit values have risen 21.3 per cent over the same period.

"The last few years have made the downsizing path easier as those who own larger family homes have seen their equity rise significantly in recent years, compared to fairly mooted growth in the years prior. There's no better time in the cycle to be looking at downsizing while both houses and apartments grow in value."

[smartcode_project:default project_id=110291 project_image_fid=186208]

Unforeseen, but not entirely surprising, have been purchases from those living in Sydney with family ties to Perth, as well as expats living overseas.

"They're buying now and securing themselves a residence for future use, whether it be on construction completion or shortly after.

"They also see great value compared to how far budgets stretch in coastal Sydney. They've been in the best-performing housing market for decades and have seen their wealth through property skyrocket. Now they're looking to return to Perth in the not too distant future."

Another facet of Serai that is appealing to the downsizer is the level of amenity within the building. Residents will have access to an infinity pool with unobstructed views over the Swan River, as well as a gym with a sauna and yoga studio, and an outdoor cinema.

[smartcode_project:default project_id=110291 project_image_fid=186200]

There’s also a games room, designed with social interaction in mind, featuring a pool and poker table.

The emphasis on community extends to the active street-level area, where a landscaped garden and café create spaces for residents to connect with neighbours.

[smartcode_project:default project_id=110291 project_image_fid=187314]

Clarke says having a high-level of amenity is important in modern-day buildings.

"Not just limited to downsizers, but people nowadays crave convenience, and if we can put a high-level of leisure facilities within their building, as well as a cafe, that really appeals to residents who don't have to go far for everything they need."

What has been an important factor to consider, particularly for locals, is the lack of new development coming to coastal areas like Fremantle. Future supply across most suburbs in Perth, particularly those near the coast, is as low as anywhere in the country.

"When we complete there will be almost nothing comparable to Serai, or anything under construction or even in planning currently. There won't be a lot of new stock that is competing within the immediate vicinity, and that's not lost on our buyers who know this is a rare opportunity," Clarke says.

[smartcode_project:default project_id=110291 project_image_fid=186200]

Serai is under construction by builder West to West, with completion slated for early 2026.

Clarke says being under construction in today's built environment is a huge confidence lift for buyers.

"Prior to 2017 or 2018, buyers weren't really phased as to what stage the development was at," Clarke says.

"Now they're more informed than ever, and naturally want certainty and assurances their new apartment will actually be delivered. A small minority of buildings don't get delivered, but they're the ones that grab the headlines and dampen confidence across the board."

[smartcode_project_cta:default project_id=110291]

Serai is under construction by builder West to West, with completion slated for early 2026



Why Serai in North Fremantle is proving popular with downsizers

The first luxury waterfront apartments to be developed in almost a decade in North Queensland have been unveiled by Townsville developer Maidment Group.

Maidment Group, headed by long-time local developer Glen Maidment, has officially launched the $65 million Marina Residences, a collection of 18 luxury apartment on the last remaining site at the end of Mariner’s Peninsula off The Strand.&nbsp;

“We feel the time is right to deliver Marina Residences because there is such demand for luxury property in the region, but no product is available in the market,” said Glen Maidment, whose Maidment Group has developed in the Townsville region for the last 20 years.

“We bought the site some years ago and have planned meticulously to deliver a project that will set a new benchmark for North Queensland.

“Interest has been very strong prior to the formal release of the project and with seven sales already secured to pre-registered buyers prior to our November launch, this reflects the pent-up demand for luxury apartments in Townsville.”

<img alt="Maidment Group’s $65 million Marina Residences " data-entity-type="file" data-entity-uuid="6d8b4f43-2948-4e47-a829-883b4a9713cb" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Apartment%201%20Living.jpeg?VersionId=9jpuSe9p5CWDNbMFgha.6lwIcwk428xd" />

Designed by Brisbane-based architect bureau^proberts,&nbsp;Marina Residences will rise 10 levels on a prime 1,400 sqm site at the end of Mariners Peninsula, which is located along Townsville’s iconic lifestyle destination of The Strand. The site was originally owned by publicly listed apartment developer Mirvac, which divested the site a decade ago.

Marina Residences offers a collection of 18 residences comprising 15 three-bedroom apartments and three Sky Homes – including the penthouse. Prices start from $2.7 million.

Residents will enjoy a suite of sophisticated resort-style amenities, including a gym, a private meeting room and a dining room, as well as a rooftop pool and sundeck that offers unobstructed vistas across the waterfront and east to Magnetic Island.

“Marina Residences is destined to become a landmark project that will redefine luxury living in the region,” Maidment added.

“We’ve spared nothing to create one of the most exciting new developments in the heart of Townsville. It’s sophisticated living at its best and undoubtedly one of the best projects we have ever presented to the market.”

Marina Residences builds on the success of Maidment Group’s first stage of its Mariners Peninsula offering - Marina Homes, which comprised eight luxury waterfront homes that were completed in mid-2024.

“The incredible success of Marina Homes, with all eight residences sold off the plan, highlights the strength of the Townsville market for luxury properties,” said Maidment.

“Among the potential buyers who have been looking to gain a foothold at Marina Residences are professionals and downsizers who are seeking the ultimate address on Townsville’s spectacular waterfront. They see this as the best address in town.”

<img alt="Maidment Group’s $65 million Marina Residences " data-entity-type="file" data-entity-uuid="749e718a-47b2-4cae-b623-a320258f5d50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Superman.jpeg?VersionId=5fA9yI5BqhyseHdVS6l5pqr4TkPzZoud" />

Marina Residences are priced from $2.7 million. Sky Home 1, which offers an expansive 495 sqm of living space, is set to smash sales records for the region.&nbsp;

“Sky Home 1 is the most significant residence to ever be released in North Queensland, presenting an incredible opportunity for the discerning buyer to secure a penthouse which compares to the very best ultra-luxury properties on offer throughout Queensland,” said Maidment.

“We believe the Townsville market is primed for residences of this calibre, and we have been firmly encouraged by the positive early response from the market. The economy is humming, and there is just no stock.”

The developer has appointed Hurst Constructions to deliver the project, extending Maidment Group’s long-standing relationship with the fellow Townsville-based business.

Marina Residences has recently been recognised with two prestigious awards at the recent 2024 UDIA Queensland Awards for Excellence, receiving accolades for Boutique Development and Regional Project of the Year for Stage 1 of the project, solidifying the demand for this exceptional property in the market.&nbsp;

In the wake of strong pre-sale commitments, Maidment plans to start construction of the Marina Residences apartment tower in January 2025. The project is scheduled for completion in late 2026.

Marina Residences offers a collection of 18 residences comprising 15 three-bedroom apartments and three Sky Homes – including the penthouse. Prices start from $2.7 million

Maidment Group to deliver Marina Residences, North Queensland's first waterfront apartments in a decade

NSW Government Announces Major Housing Reform to Streamline Approvals and Boost Supply 
In a bold move to address the state's housing crisis, the New South Wales (NSW) Government has unveiled plans to overhaul the housing approval process, aiming to cut red tape, speed up development, and deliver much-needed homes to the market faster.

The new initiative introduces a state-led approval pathway for large-scale residential housing projects, designed to bypass local council approval and significantly reduce approval timelines. This reform, set to take effect in early 2025, is part of a broader strategy to tackle the state's ongoing housing affordability issues and ensure that housing projects get off the ground more quickly.

<h2>The Housing Delivery Authority (HDA)</h2>

Central to the reform is the creation of the Housing Delivery Authority (HDA), a new body within the Department of Planning, Housing and Infrastructure. The HDA will oversee a streamlined approval process for major housing developments, focusing on projects with an estimated development cost of over $60 million in Greater Sydney (typically 100 or more homes) and $30 million in regional NSW (usually around 40 or more homes).

The HDA will be responsible for managing the approval process, including rezoning and development applications, which will no longer require approval from local councils. By eliminating the council approval stage, the government hopes to shorten approval times by potentially several years, facilitating quicker delivery of new housing across the state.

Key figures in the new authority include the Secretary of the Premier’s Department, Simon Draper; the Secretary of the Department of Planning, Kiersten Fishburn; and the CEO of Infrastructure NSW, Tom Gellibrand. Despite the changes, the Minister for Planning and Public Spaces will remain the final consent authority for any projects moving through this pathway.

<h2>A Shift Towards Faster, State-Managed Approvals</h2>

This reform addresses one of the most pressing issues in NSW’s housing market: the slow pace of housing development due to bureaucratic hurdles. Housing affordability has become a significant challenge for many residents, and the NSW Government has long acknowledged the disconnect between the demand for new housing and the ability of the planning system to deliver it.

The new state-led process aims to fast-track the approval of residential projects by allowing developers to submit their proposals directly to the HDA. Proposals will be assessed on merit, and planning controls will be applied flexibly to suit the needs of each development. This includes potentially making incremental zoning changes when necessary.

This approach is intended to make the approval process more efficient, enabling developers to proceed with projects that might otherwise be delayed or blocked by local council requirements. The government hopes these reforms will foster a more conducive environment for large-scale housing developments, helping to meet the growing demand for homes in NSW.

<h2>New Fast-Track Rezoning Process</h2>

In addition to the streamlined approval pathway, the NSW Government is also introducing a fast-track rezoning process for projects that require more significant zoning changes. This process will apply to developments that could provide a substantial increase in housing supply but need major rezoning to move forward. Like the development approvals, these projects will be chosen through an Expression of Interest (EOI) process managed by the HDA.

By allowing rezoning and development assessments to occur simultaneously, the reform aims to further speed up the planning process. Developers will submit their rezoning proposals directly to the HDA, which will assess them based on criteria aligned with the state’s housing priorities.

<h2>Impact on Local Councils</h2>

One of the anticipated benefits of these changes is a reduction in the number of large, complex development applications that local councils will need to assess. With the state assuming control over these major projects, councils can focus their resources on smaller, less complicated applications. This shift is expected to improve the efficiency of the overall planning system, allowing councils to allocate more time and effort to managing local development needs.

<h2>The Broader Context</h2>

These new measures are part of a series of reforms aimed at addressing housing affordability and supply issues that have plagued NSW for years. Other recent initiatives include:

- The largest rezoning in NSW history to unlock new housing opportunities. 
- Housing targets for councils to ensure a fair distribution of housing across Greater Sydney. 
- A $450 million investment to build new apartments for essential workers, including nurses, paramedics, teachers, and emergency responders. 
- The establishment of a land audit of vacant government-owned land, which will unlock 30,000 homes, including 8,400 public housing units. 
- A $5.1 billion investment in social and affordable housing.

Premier Chris Minns emphasized the urgency of these reforms, noting that previous governments had made it harder to build homes, leading to a growing crisis.

"For over a decade in NSW, governments have made it harder to build the homes we need, not easier – but this cannot continue if we want to be a city that young people can afford to live in," Minns said.

Minister for Planning and Public Spaces Paul Scully echoed these sentiments, stating, "The Minns Government is doing everything in its power to tackle the housing crisis and encourage developers to build and boost housing supply and overall affordability."

Scully also criticized the previous government for adding unnecessary red tape that hindered the development of much-needed housing.

<h2>Looking Ahead</h2>

As the government prepares to roll out these reforms, they are also engaging in consultation with stakeholders to ensure the new system works for both developers and communities. The fast-tracked approval and rezoning processes, expected to come into effect in 2025, mark a significant shift in how housing is developed in NSW, with the state taking a more active role in shaping the future of housing delivery.

By cutting through bureaucratic delays and focusing on high-priority projects, the NSW Government hopes to improve housing affordability and provide more homes for the people who need them most, particularly in a state where the demand for housing continues to outstrip supply.

Premier Chris Minns emphasized the urgency of these reforms, noting that previous governments had made it harder to build homes, leading to a growing crisis

NSW Government to launch new Housing Delivery Authority to boost housing supply, remove council power

The Charles de Gaulle Airport in Paris suffered a catastrophic collapse in 2004. The incident occurred when a section of steel roofing at Terminal 2E crashed down causing 4 people dead and injuries to several passengers. Investigation revealed that the reasons for the collapse were a combination of faulty design and workmanship. After four years of reconstruction, Terminal 2E reopened in March 2008, costing EUR 150 million (AUD 250 million) covered by insurers and reinsurers.

The Charles de Gaulle International Airport is one of the largest airports in the world. As a significant component of the expansion project in 1997, Terminal 2E started to be used in June 2003, with a cost of approximately 750 million euros. The 450-metre-long terminal building is an elliptical tube on parallel longitude beams constructed of 30-centimetre-thick reinforced concrete rings. However, just nine months after its operation, at 7 o’clock in the morning of 23 May 2004, a 30-meter section of glass of the roofing structure collapsed within the boarding area. The incident happened during the early morning hours and left 4 casualties, the consequences could have been more devastating if it occurred during rush hour.

The French Commission for the Administrative Investigation indicated that the structural engineering defects may have been a possible cause of the accident. These issues in structural design were associated with poorly placed reinforced steel, a lack of structure supports, weak outer steel structures and concrete support beams. The Chief architect of the project also released a statement mentioning that weak metal reinforcement in the concrete was the primary factor leading to partial collapse.

The collapse could also be attributed to failures in the construction process. Aéroports de Paris (ADP) was responsible for both designing and constructing this project. It was reported that there were hundreds of stakeholders involved in the work, which largely increased the management complexities. Meeting the project’s proposed timeline posed another challenge for ADP. Consequently, there may have been inadequate supervision of design reviews and site work inspections during the process, resulting in quality issues.

Following the demolition of the existing structure and the construction of a new light steel structure, the terminal reopened to the public in 2008. The estimated cost of the rebuilt project was 150 million euros (AUD 250 million). Since the airport owner had Decennial Liability Insurance (DLI), also known as Latent Defects Insurance (LDI), insurers and reinsurers were to guarantee the payout. DLI/LDI insurance is a mandatory program in France that provides cover against damage caused by defects in design, workmanship or materials affecting the structure, external walls and roofs. In this case, even though the cause of the collapse is unclear, LDI/DLI would still come into effect to facilitate repairs, as it is a strict liability policy.

The collapse of Charles de Gaulle Airport’s Terminal 2E in 2004 was a tragic event that exposed a combination of design and construction flaws. It prompted a re-evaluation of quality control in airport infrastructure projects and highlighted the importance of Latent Defects Insurance in addressing such structural defects-related incidents in the future.

Since the airport owner had Decennial Liability Insurance (DLI), also known as Latent Defects Insurance (LDI), insurers and reinsurers were to guarantee the payout.

When Latent Defect Insurance covered the $250m collapse of the Charles de Gaulle Airport

John Camilleri, the famous breeder of the legendary mare Winx, has continued his spending spree in the new development market on the Gold Coast.

Earlier this year, the Sydney-based breeder paid just over $30 million for Pacific Point, a 10-level apartment block, and a three-level duplex, from fellow racing identity, Aquis billionaire Tony Fung.

The 1,682 sqm site at 3464-3468 Main Beach Parade, <a href="/developments/surfers-paradise-qld-4217">Surfers Paradise</a>, had been earmarked for a 48-level hotel with 580 rooms. Camilleri has already reworked the plans, now proposing a 40-level tower with 93 apartments.

He's emerged again on property records, swooping on another project.

<img alt="AALTO" data-entity-type="file" data-entity-uuid="e3c716e1-dd20-485d-9270-aae6b26e8f55" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-11-15%20at%2010.58.45%E2%80%AFAM.png?VersionId=4jWmMDc5em9AUVc3A6DNr8DdackbC1ux" />

He's spent $53.65 million on Garfield Terrace, the 1,500 sqm site that was pitched for AALTO, a luxury tower with 75 apartments.

<a href="/new-apartments/aalto-75-79-garfield-terrace-surfers-paradise">AALTO</a>, at 75-79 Garfield Terrace, was being developed by Sydney-based Weiya Holdings, the developer behind De-Luxe, the redevelopment of the Old Burleigh Theatre Arcade in Burleigh Heads.

AALTO launched in late 2022, and reportedly secured a flurry of sales including a $15 million penthouse that was bought by a local who works in the property industry.

The penthouse had been slated to have&nbsp;five bedrooms, its own cinema room, a gym, an indoor and outdoor kitchen, and a 15-metre swimming pool.

Locals had driven the majority of enquiry, selling agent Patrick Pancur said.

A series of setbacks however has meant there's been no site activity, with a builder never appointed.

The site sale is just shy of the <a href="/news/qld/first-look-ktq-sell-garfield-terrace-site-for-56-million-as-demand-soars-for-gold-coast-beachfront-sites">$56 million secured by Peggy Glannery's KTQ</a> for its 2,025 sqm site just down the street at 27 Garfield Terrace.

Camilleri has emerged yet again on property records, swooping on another failed project.

First look exclusive: Winx breeder John Camilleri continues Gold Coast apartment development site spree

Melbourne developer&nbsp;<a href="/developers/central-equity">Central Equity</a> has taken out another major industry award – winning the prestigious Housing Industry Association (HIA) – Victoria Apartment Complex Award (over $ 20 million), for its recently completed apartment tower, Parkhill Melbourne Apartments.

The award was announced at the annual HIA (VIC) Industry Awards at Crown earlier this week. Central Equity is the HIA (Victoria) most awarded apartment developer. &nbsp;

[smartcode_project:default project_id=27406 project_image_fid=288638]

The award recognises excellence in the construction and design of a residential apartment project. Parkhill was designed by leading architects <a href="/architects/clarke-hopkins-clarke-0">ClarkeHopkinsClarke</a> and was built by the award-winning construction company, <a href="/builders/kapitol-group">Kapitol Group</a>. &nbsp;

<a href="/buildings/parkhill-apartments-west-melbourne-408-spencer-street-west-melbourne">Parkhill Melbourne Apartments</a>, a 20-level tower, located at 408 Spencer St, <a href="/developments/west-melbourne-vic-3003">West Melbourne</a>, has a striking entry foyer with a seven-day concierge. The resident facilities are located on the rooftop and include outdoor dining areas with BBQs, a gymnasium, exercise areas, and places to relax and enjoy city views.&nbsp;

[smartcode_project:default project_id=27406 project_image_fid=312168] 
&nbsp; 
The project is located on a prime corner site and at street level the podium has been designed to complement nearby buildings. The building incorporates three retail tenancies that will provide an active and vibrant streetscape.&nbsp;

Central Equity has been credited as the pioneer of inner-city living in Melbourne, developing residential properties in and around the CBD. The 2024 HIA award is a testament to Central Equity’s 37-year history of ‘delivering as promised’.&nbsp;

[smartcode_project:default project_id=27406 project_image_fid=214773] 
&nbsp; 
“Parkhill Melbourne Apartments has been a great success with residents full of praise for their new homes, the outstanding resident facilities and onsite building management services” says Central Equity Managing Director, Dennis Wilson. &nbsp; 
&nbsp; 
There is a limited number of brand-new apartments to purchase in the award-winning building.

[smartcode_project_cta:default project_id=27406]

“Parkhill Melbourne Apartments has been a great success with residents full of praise for their new homes, the outstanding resident facilities and onsite building management services” says Central Equity Managing Director, Dennis Wilson.  


Parkhill Melbourne wins major Housing Industry Association award for 2024

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.

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<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."

[smartcode_project:default project_id=1979 project_image_fid=363228]

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.

[smartcode_project:default project_id=150489 project_image_fid=373834]

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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