The demand for downsizer in apartments is prompting more home owners to band together to create a site more suitable for multi-residential developments.

The latest is on Bond Street, just off Military Road, where four owners have banded together to list their four freestanding homes within 400 metres of the Spit Junction town centre.

They saw the opportunity pending the NSW Government's changes to the Low and Mid-rise SEPP.

“The four owners have agreed it makes sense to enter a co-owners agreement and market the properties in one line to a select group of developers that are active in the local area," Beth McNally, one of the owners of the four properties, said.

The site could be redeveloped into over 28 luxury apartments.

The 1,740m2 site is earmarked to benefit from a material increase to the current floor space ratio from 0.7:1 to an expected 2.2:1 under the SEPP amendments including a maximum building height limit of 22 metres.

The SEPP changes include the Low and Mid-rise housing reforms (LMR) and the Transport Orientation Development Program (TOD) is an NSW Government initiative to increase housing supply located close to established shopping precincts and transport hubs.&nbsp;

Mosman has seen an uptick in demand for quality&nbsp;apartments attractive to local retirees and downsizers.

According to the ABS 2021 census figures the number of people over 65 in Mosman is over 26 percent higher than the national average.

In August, Danny Avidan's Dare Property Group sought to develop 27 apartments above a row of shops at their recently acquired triple site at&nbsp;<a href="/new-apartments/twenty88-mosman-696-706-military-road-mosman">696, 700 and 706 Military Road</a>.

Read more:&nbsp;<a href="/news/nsw/first-look-exclusive-established-luxury-developer-dare-property-group-plants-a-flag-in-mosman-with-twenty88">First look exclusive: Established luxury developer Dare Property Group plants a flag in Mosman</a>

The obvious demand for more high-end apartments has had&nbsp;<a href="/news/nsw/13-owners-pitch-together-for-rose-bay-apartment-development-opportunity">13 different owners band together</a>&nbsp;in Rose Bay to list a combined 1,377 sqm just one row back from the beach and on the fringe of the Rose Bay village.

McGrath's Craig Pontey says&nbsp;that with the&nbsp;current demand for luxury apartments being exceptionally strong, the site will allow for "many apartments with fantastic Harbour views in a very convenient location."

&nbsp;

Joel Robinson

Mosman transformation to continue as prime development site listed

Purchasing off the plan can often feel like a confidence challenge; however, once you’ve done it once, the process becomes much easier.

Many buyers find themselves returning to secure apartments in new developments by the same developer, given assurances they've delivered quality before, and, in a lot of cases around the country, price growth on the initial purchase.

This is precisely the case in <a href="/developments/newcastle-west-nsw-2302">Newcastle</a>, where Neil Owens recently purchased an apartment at ONE Apartments, the new two-tower project by local builder-developer GWH. It marked Neil's second purchase with GWH. He bought off the plan in SKY Residences, just 650 metres down the road.

"I have firsthand experience with the developer's quality, and I believe that, like any reputable developer, they will always strive to make each new building even better," Neil said

[smartcode_project:default project_id=24247 project_image_fid=281109]

Neil has been living on the top level of Sky since its completion in 2022.&nbsp;

"It's an amazing apartment," Neil says.&nbsp;

"That was my downsize from my house in the area. I was seeking to scale back work commitments and slow life down, and buying an apartment was part of that."

[smartcode_project:default project_id=8430 project_image_fid=201695]

Neil's purchases with GWH were driven by what he wanted to do for his daughter.

"I wanted to buy something new for my daughter that nobody had lived in," Neil said.

Neil secured one of the few two-level, two-bedroom apartments in ONE Apartments, which he intends to move into.

[smartcode_project:default project_id=24247 project_image_fid=281097]

Going back six years, Neil was looking to downsize locally. He had been looking around Newcastle's centre, but it was a chance meeting after a football coaching camp that paved the way for the start of Neil and GWH's relationship.

Neil scheduled an appointment to go and see SKY Residences after the weekend, a weekend when he was training to become a football coach. When he visited the display on the Monday, he was welcomed by a familiar face.

That was GWH Sales Director Peter Kunov, who had been at the same football coaching training at the weekend.&nbsp;

"It was a chance encounter but it immediately put me at ease that I was talking to someone that was part of the local community," Neil recalled, admitting that he was a little out of his depth.

"I'd never bought off the plan before, and I hadn't lived in an apartment since I was young. But at the time, GWH was building several developments around the area, and SKY was 75 per cent complete, it wasn't just a hole in the ground. That helped me make my decision, and I'm glad I was patient and waited the six months or so for completion and move-in, rather than buy something that would be more short-term thinking."

[smartcode_project:default project_id=24247 project_image_fid=281106]

Neil had looked at some apartments down on the foreshore, but he said the quality "just wasn't there."

His downsizing plans to a secure apartment will allow him the lock-up-and-leave lifestyle downsizers often seek.

<a href="/new-apartments/one-apartments-newcastle-west-1-national-park-street-newcastle-west">ONE Apartments</a> is the latest Newcastle apartment project by reputable builder-developer <a href="/developers/gwh">GWH</a>, a company synonymous with development in Newcastle since its inception in 1995.

The two 22 and 19-level towers designed by <a href="/architects/marchese-partners">Marchese Partners</a> are connected by a four-level podium that will home a commercial space and will be crowned with an outdoor pool.

There are further facilities throughout the building, like a cinema, gym, sauna, bookable private function room, and two rooftop entertainment areas. The Scenic Lounge is located on the 22nd floor of the South Tower, and the Harbourview Lounge is atop the 19th floor of the North Tower.

[smartcode_project:default project_id=24247 project_image_fid=281103]

Over half of the 193 apartments in ONE Apartments have sold, mostly to locals.

GWH's in-house construction arm is on track to complete the two buildings at the end of 2025.

Neil took part in Urban's Buyer Q&amp;A series which focuses on the driving factors behind&nbsp;<a href="/guides/the-ultimate-off-the-plan-guide-5-property-experts-share-advice-for-buying-a-new-apartment-or-townhome" target="">buying off the plan</a>&nbsp;property in Australia

[smartcode_project_cta:default project_id=24247]

Neil took part in Urban's Buyer Q&A series which focuses on the driving factors behind buying off the plan property in Australia

Second time's a charm as off the plan buyer secures another apartment with GWH in Newcastle: Urban Buyer Q&A

A prime development site in the heart of Rose Bay, one row back from the beach and in the village, is expected to attract a swell of residential developers.

13 owners have banded together to offer the 1,377 sqm site at&nbsp;730-738 New South Head Road and 2-10 Collins Avenue through McGrath Double Bay agent Craig Pontey, who owns one of the lots.

"We have got together as a collective collaboration of like-minded owners wanting to sell," Pontey says.

"There are five extra large townhouses, one three-bedroom apartment and six shops with underground parking all being offered in one line”.

Pontey says that with the&nbsp;current demand for luxury apartments being exceptionally strong, the site will allow for "many apartments with fantastic Harbour views in a very convenient location."

The site is bounded by three street frontages, New South Head Road, Caledonian Avenue and Collins Avenue, Rose Bay. &nbsp;

"It’s a very high-profile corner site," Pontey added.

Rose Bay is starting to see demand increase in new apartments, particularly for the downsizers.

Historically, the new apartment market in <a href="/new-apartments/rose-bay-nsw-2029">Rose Bay</a> has been virtually non-existent, leaving locals with limited options: either relocate from the suburb they love or downsize to an older apartment in a building constructed decades ago.

However, a shift is underway. The new apartment market is beginning to flourish, offering fresh opportunities for buyers.

Rose Bay has emerged as the most searched suburb in the Eastern Suburbs over the past three months on Apartments.com.au. There was a 48 percent increase in searches from June to July, with last month’s search volume reaching its highest level since April 2023.

Read more:&nbsp;<a href="/news/nsw/downsizers-finally-start-to-get-their-chance-in-rose-bay-as-new-apartment-supply-grows">Downsizers finally start to get their chance in Rose Bay as new apartment supply grows</a>

13 owners pitch together for Rose Bay apartment development opportunity

The leafy Glen Iris, regarded as the geographical center of Melbourne, is a suburb that, once you live there, you will never want to leave.

The 3146 postcode offers a perfect blend of suburban charm and connectivity to greater Melbourne. 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 <a href="/developments/glen-iris-vic-3146">Glen Iris</a> has long been regarded as one of Melbourne’s top suburbs for families and downsizers.

"You find that those who move to Glen Iris often stay for generations," Thompson says.

"Generally speaking, young families move to Glen Iris to enjoy a family-friendly lifestyle, with some of the best schools and parks in Melbourne. 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 Glen Iris as well. This creates a generational knock-on effect, making Glen Iris a really tight-knit community," Thompson explains.

<a data-entity-type="file" data-entity-uuid="fc441f24-48db-4778-ac6b-b2b4050ce5b8" href="/developments/glen-iris-vic-3146"><img alt="Glen Iris" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-30%20at%204.29.50%E2%80%AFPM_0.png?VersionId=yn6wKFb35oHupVxV4e.2q6aVGZGdd02z" /></a>

Thompson emphasizes the beauty of Glen Iris as one of Melbourne's established suburbs, with its leafy, tree-lined streets and excellent amenities, while also being one of the most connected areas.

"When you are at that young family stage, there is still great access to the city, whether it be through Glen Iris Station, Gardiner Station, or the extensive tram connections on High Street. You're in close proximity to the city but can feel completely disconnected on weekends, allowing you to immerse yourself in a more family-friendly lifestyle."

Thompson says Glen Iris sits in a prime pocket that enables its residents to enjoy several of the neighbouring suburbs.

"You're on the fringe of <a href="/developments/malvern-vic-3144">Malvern</a> and <a href="/developments/armadale-vic-3143">Armadale</a> to the west, <a href="/developments/camberwell-vic-3124">Camberwell</a> to the north, and <a href="/developments/ashburton-vic-3147">Ashburton</a> to the east. You can take advantage of all the amenities these areas offer."

Leaning into the trend of downsizing in the suburb, developers in recent years have been gearing their new projects to offer large apartments that can cater for both young and established families, as well as the empty nester.

Thompson has just one apartment remaining in <a href="/buildings/galerie-glen-iris-1538-1540-high-street-glen-iris-vic-3146">GALERIE</a>, the newest apartment development in Glen Iris which is slated for completion in the coming months.

[smartcode_project:default project_id=112375 project_image_fid=250355]

While the majority of buyers have been downsizers, several are couples looking to upsize as they plan the next phase of their lives.

"The building represents everything that Glen Iris is about."

The penthouse atop GALERIE set a price record for the suburb in 2023, selling for <a href="/news/vic/glen-iris-apartment-price-record-smashed-with-galerie-penthouse-sale-just-shy-of-4-million">nearly $4 million to a local couple looking to downsize</a>.

[smartcode_project:default project_id=112375 project_image_fid=250358]

Thompson believes Glen Iris is an excellent suburb for downsizing due to its proximity to some of Melbourne’s best neighborhoods and the Monash Freeway.

"There are generally two types of retirees: those who want to travel internationally and can be at the airport in 35 minutes, and those with a weekender on the Mornington Peninsula who can be on the freeway in minutes."

Downsizers are expected to make up the majority of purchases in the latest apartment development launching in Glen Iris.

<a href="/new-apartments/avery-glen-iris-1542-1544-high-street-glen-iris-vic-3146">Avery</a>, located next to GALERIE on High Street, comprises just 24 apartments in a boutique low-rise building designed by Alta Architecture. Alta embraced the principles of wabi-sabi, a Japanese design philosophy that emphasizes natural simplicity and strength.

[smartcode_project:default project_id=22546 project_image_fid=288305]

Alvin Xu of Alta Architecture explained, “I’ve been exploring the idea of wabi-sabi for years. With Avery, I aimed to create tranquillity within an increasingly busy city and instill calm into every aspect of the design. I wanted to sustainably connect nature and gardens to the indoor living spaces."

"Ultimately, I tried to make a place where I would want to spend time, that feels like home as soon as you step inside."

The apartments are designed to maximize natural light with floor-to-ceiling windows and winter gardens that serve as versatile balconies for year-round enjoyment. A central fireplace adds warmth to the living area.

[smartcode_project:default project_id=22546 project_image_fid=288318]

High Street has become one of the most popular streets for new developments in Glen Iris. The seven-kilometer stretch is well serviced by trams to and from the city and runs to the bottom of Albert Park to the east to Ashburton and Malvern to the west.

Downsizers have driven rare Glen Iris townhouse development, Lori, to a near sell-out. Just two of the eight townhouses remain as they approach completion.

The three-bedroom townhouses have been designed by Megowan Architecture to spark some creative flair into Glen Iris.

The townhouses are situated on a sloping block, which allows for expansive views of the surrounding treescape through large picture windows. They&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=246532]

There will be even more local amenity for Glen Iris residents if Time &amp; Place's joint venture with Woolworths is approved at 173 Burke Road, on the border of Malvern East.

They've scaled back their&nbsp;shop-top housing development plans by Cera Stribley, now proposing 64 larger apartments above a full-line Woolworths with incresed setbacks and additional affordable housing options.

Glen Iris: The family-friendly Melbourne suburb residents don't want to leave

Coronation Property has revealed the only two penthouses remaining in its architecturally significant inner west residential development, Ashbury Terraces.

There had been three luxury penthouses in the SJB-designed building that is approaching completion, however, one was snapped up pre-launch for $3.2 million.

Christine To, Head of Sales at Coronation Property, says the final release of <a href="/new-townhouses/ashbury-terraces-ashbury-165-171-milton-street-ashbury">Ashbury Terraces</a> will provide discerning purchasers the very last opportunity to secure their ideal home within this popular community.

“Ashbury Terraces is now at 80 per cent sold and is the last pocket of land available for development in Ashbury," To says.

“The thoughtfully considered floor plans and premium amenities at Ashbury Terraces have been tailored to accommodate a variety of tastes and lifestyle preferences, making the residences appealing to both individuals and families seeking a sophisticated and comfortable lifestyle experience."

Located less than 10 kilometres from Sydney’s CBD, Ashbury Terraces has been brought to life by a curated team of Australia’s leading designers and architects from renowned practices <a href="/architects/sjb-architects">SJB</a>&nbsp;and <a href="/landscape-architect/360-degrees-landscape">360 Degrees Landscape Architects</a>.

[smartcode_project:default project_id=112253 project_image_fid=294629]

The striking development features three distinct collections – the Terrace Collection, Apartment Collection, and for the first time on the market, the Penthouse Collection.

The exclusive Penthouse Collection offers open-plan living, as well as a private plunge pool with extensive views of the Sydney CBD.

[smartcode_project:default project_id=112253 project_image_fid=294911]

Each residence will connect to generous outdoor entertainment areas, oversized backyards and courtyards, with rooftop terraces offering views of the city skyline and neighbouring parklands.

The Terrace Collection encompasses 59 three-bedroom terrace homes designed to complement Ashbury's Victorian and mid-century architectural typologies within the exclusive resort-like setting.

The Apartment Collection, with its inviting laneways and village-like feel, comprises one, two, three and four-bedroom park-side apartments, including garden-level units with landscaped yards.

[smartcode_project:default project_id=112253 project_image_fid=294593]

<a href="/developers/coronation-property">Coronation</a> Property’s Managing Director, Joe Nahas, said the market response demonstrates the success and appetite for a development of this kind in <a href="/developments/ashbury-nsw-2193">Ashbury</a>.

"Downsizers who have capitalised on rising house prices over the last two years now seek quality new homes with open-plan living, increased amenity and outdoor space – the key features offered at Ashbury Terraces," Nahas said.

“A key component in Coronation’s property portfolio, this development underscores our commitment to consistently delivering well-designed and expertly constructed residences right across Sydney,” Nahas said.

Ashbury Terraces is on track for completion in late 2024.

[smartcode_project_cta:default project_id=112253]

Coronation Property’s Managing Director, Joe Nahas, said the market response demonstrates the success and appetite for a development of this kind in Ashbury

Coronation introduces penthouse living at Ashbury Terraces, a first for the in demand inner west suburb

First home buyers in Melbourne have a fantastic opportunity to enter the property market, benefiting from some of the most attractive purchasing incentives available in Australia.

Unlike many other states, the calculation of stamp duty in Victoria isn't straightforward. In places like New South Wales, any apartment under a set threshold of $800,000 incurs no stamp duty, effectively excluding most apartments within a 15-kilometre radius of Sydney. In contrast, many one-bedroom apartments in Melbourne’s inner city are priced below $750,000, opening up more possibilities for buyers.

<h2>Why is now an opportunity for first home buyers?</h2>

Currently, first home buyers in Melbourne find themselves in a favorable position, as they are not competing with investors for off-the-plan apartments. While most boutique developments focus on larger two- and three-bedroom units, many high-rise buildings—over 20 levels—feature entry-level apartments that are ideal for first-time buyers.

Moreover, some developers are offering flexible contract terms, including negotiable five percent deposits. There’s also positive economic news, with inflation showing signs of decline, potentially paving the way for the Reserve Bank of Australia to lower interest rates in 2025.

In the off-the-plan market, buyers won’t start paying their mortgage until the apartment is completed. Therefore, it's crucial to consider expected interest rates at that future time rather than the current rates. Market forecasts suggest <a href="/expert-insights/buying/markets-price-in-four-rba-rate-cuts-in-next-12-months-what-it-means-for-the-off-the-plan-apartment-market">four cuts in the next 12 months</a>. When rates decrease, entry-level apartments will become more appealing to investors—who typically have more capital than first home buyers—leading to increased competition.

<h2>What does the data say?</h2>

Data from <a href="https://industry.urban.com.au/data-insights">MatterFact</a>, Apartments.com.au's new data product, indicates strong demand from first home buyers in 2024.

Over 40 percent of inquiries in Melbourne this year have come from this demographic, down from 50 percent in 2023.

This slight decline is primarily due to changing apartment configurations but demonstrates that interest rates have not significantly deterred first home buyers.

<h2>How do I calculate what I can save?</h2>

First home buyers in Victoria can take advantage of two key incentives: the First Home Owners Grant (FHOG) and stamp duty concessions. The FHOG offers $10,000.

Calculating stamp duty can be a bit complex. It’s based on the apartment's price minus the construction cost in the contract. The dutiable value is applicable when this figure is between $600,000 and $750,000, allowing for potential duty concessions.

For the most current information on concessions and eligibility, it's best to visit the State Revenue Office website.

<h2>What can I buy?</h2>

With the high threshold to receive concessions, there are plenty of opportunities to buy all across Melbourne.

We've wrapped up the best opportunities for first home buyers across Melbourne.

<h2>What: Fareham, St Kilda</h2>

<h3>Where:&nbsp;95 St Kilda Road, St Kilda VIC 3182</h3>

<h3>Who:&nbsp;Gamuda Land</h3>

Fareham in St Kilda has a handful of one-bedroom apartments in the 16-level building on St Kilda Road that has been designed to be one of the greenest in Melbourne.

[smartcode_project:default project_id=137950 project_image_fid=281446]

The 73-unit project is set to achieve a 7.5-star NatHERS rating, supported by renewable energy sources and eco-friendly features like EV charging and secure bike parking.&nbsp;

With a focus on integrating nature into urban living, Fareham offers bay views, a communal rooftop, and extensive landscaping.

[smartcode_project:default project_id=137950 project_image_fid=281448]

First-home buyers can benefit from the long construction timeline, offering more time to save, while the energy-efficient design lowers long-term costs.&nbsp;

Prices for one-bedroom units remain competitive compared to the growing Melbourne market.

<h2>What: BLVD at Melbourne Square</h2>

<h3>Where:&nbsp;19 Hoff Boulevard, Southbank VIC 3006</h3>

<h3>Who:&nbsp;OSK Property</h3>

BLVD is the latest addition to Southbank's burgeoning Melbourne Square precinct, offering a 73-level skyscraper with just under 600 apartments.&nbsp;

[smartcode_project:default project_id=107714 project_image_fid=214124]

Designed by COX Architecture, it focuses on wellness and connectivity, with extensive amenities such as an indoor pool, gym, sauna, and work-from-home facilities.&nbsp;

BLVD caters to first-home buyers by offering a low deposit requirement and extensive wellness-focused amenities, ensuring comfort and practicality for urban living.&nbsp;

[smartcode_project:default project_id=107714 project_image_fid=214126]

One-bedroom units are priced from $611,000.

<h2>What: Melbourne Square</h2>

<h3>Where:&nbsp;93-119 Kavanagh Street, Southbank VIC 3006</h3>

<h3>Who:&nbsp;OSK Property</h3>

OSK Property still has some apartments remaining in an earlier stage of Melbourne Square.

The remaining two and three-bedroom apartments are well-suited for first home buyers looking to secure property in Southbank, where prices start from $769,100 for two-bedroom units.&nbsp;

[smartcode_project:default project_id=2929 project_image_fid=200840]

The completed tower includes a range of amenities such as a 50-metre swimming pool, gym, and communal dining spaces.

&nbsp;

<h2>What: FOCUS</h2>

<h3>Where:&nbsp;81 City Road, Southbank VIC 3006</h3>

<h3>Who:&nbsp;Central Equity</h3>

FOCUS offers completed, ready-to-move-in apartments in a 50-level tower in Southbank.&nbsp;

One-bedroom apartments at FOCUS start from $629,000, offering a great entry to the market for first home buyers.

&nbsp;

[smartcode_project:default project_id=3260 project_image_fid=212294]

The development includes amenities such as a heated pool, gym, cinema room, and resident dining areas.

First-home buyers can benefit from the immediate availability of apartments, combined with competitive pricing that qualifies for the First Home Owner Grant.&nbsp;

The central location also makes it an attractive option for those wanting to be near the city's amenities.

<h2>What: Parkhill Apartments, West Melbourne</h2>

<h3>Where:&nbsp;408 Spencer Street, West Melbourne VIC 3003</h3>

<h3>Who:&nbsp;Central Equity</h3>

Parkhill Apartments offer some of the most price-pointed apartments on the market.

The one-bedroom apartments start from $519,000 in the recently completed building on the fringe of Flagstaff Gardens.&nbsp;

[smartcode_project:default project_id=27406 project_image_fid=288622]

The development features a rooftop gym and garden, secure parking, and durable, premium fixtures.

Parkhill’s reasonable price points, combined with its location near education hubs and public transport, make it a strong choice for first home buyers.&nbsp;

First home buyers in Melbourne are in a unique position now as they're not currently competing with investors for apartments

The advantages of buying off the plan apartments for first home buyers in Melbourne

Local developer Andrews Projects has submitted plans for its largest project to date: a $700 million twin-tower development in <a href="/developments/surfers-paradise-qld-4217">Surfers Paradise</a>.

Andrews Projects purchased the 5,700 sqm site, two blocks from the beach at <a href="/new-apartments/south-beach-surfers-paradise-3006-surfers-paradise-boulevard-surfers-paradise">3006-3016 </a><a href="/developments/surfers-paradise-qld-4217">Surfers Paradise</a><a href="/new-apartments/south-beach-surfers-paradise-3006-surfers-paradise-boulevard-surfers-paradise"> Boulevard</a>, earlier this year. It's the well-known Orion Towers site, which had approved plans for two 104 and 73-level towers with 1,100 apartments.

In collaboration with renowned architects Bates Smart, <a href="/developers/andrews">Andrews Projects</a> has completely changed the original design, reducing the density by 65 per cent. The project will now feature two curved 37-level towers with 394 apartments ranging from one to four bedrooms.

<img alt="Andrews" data-entity-type="file" data-entity-uuid="41a57ecd-d39a-42ce-bba6-dbf0f7bc78b9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-30%20at%2011.34.24%E2%80%AFAM.png?VersionId=K1JMGjeplvu5oNHXnnlg9n.0O5xLJSw9" />

The two residential-only towers will rise above a six-level podium that includes a double-height residents’ foyer, a co-working space for residents, a publicly accessible café opening onto a landscaped outdoor seating area, and four levels of above-ground parking enhanced by cascade planting.

With the growing trend towards wellness and urban bathhouses, residents will have access to state-of-the-art facilities on level six. These include two large outdoor pools, a Hammam, a steam room, plunge pools, saunas, a fully equipped gymnasium, and BBQ picnic areas, all integrated and framed by extensive subtropical landscaping.

The apartments, located from level seven through to level 37, feature&nbsp;wrap-around balconies designed to provide indoor-outdoor living.

<img alt="Andrews" data-entity-type="file" data-entity-uuid="4135ad64-8afb-4db0-b0ff-bdf4978447f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-30%20at%2011.34.28%E2%80%AFAM.png?VersionId=MQOHjPks47rZEs8Le2W2frRWJNi0liox" />

The considered design staggers and rotates the two towers in opposite directions to maximize the number of apartments with beach and river views, with most two and three-bedroom apartments enjoying dual or triple aspects.

Andrews Projects Sales Manager, Sarah Andrews, said the project&nbsp;aims to establish a new residential address that embodies the essence of high-rise coastal living in Queensland’s distinctive subtropical environment.

“We are thrilled to be working with Bates Smart to bring this visionary project to life," Andrews says.

"Over the past few months, we have developed a fresh approach to beachside living, crafting apartments that offer enhanced liveability with abundant natural light, cross-flow ventilation, and dual-aspect living areas."

Andrews says the Gold Coast market&nbsp;is severely undersupplied, and this situation is likely to worsen.

"This project will help meet the demand, and we look forward to working with our construction team and the <a href="/developments/gold-coast-qld">City of Gold Coast</a> to deliver this iconic project.”

Andrews is currently building <a href="/new-apartments/cascade-robina-116-laver-drive-robina">Cascade</a> at Robina, another two-building development. They recently completed Dune <a href="/developments/main-beach-qld-4217">Main Beach</a>.

First look exclusive: Andrews Projects reveal 400 apartment, two-tower development in Surfers Paradise

The garden-focussed approach by developer Milieu at its recently released Elsternwick Gardens community paid dividends at its weekend unveiling, with a significant number of buyers securing their future home.

The VIP open saw a huge uptake of apartment reservations, to a broad range of buyers. Milieu also had some repeat purchasers attend the opening of the display suite.

“Our VIP launch weekend was super successful and we were pleasantly surprised by the response,” Milieu Managing Director Michael McCormack said.

[smartcode_project:default project_id=136535 project_image_fid=288412]

<a href="/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, located on the former ABC Studios site on Gordon Street, has attracted strong interest due to several unrepeatable components, none more obvious than the location of the prime 11,740 sqm site which neighbours the historic Rippon Lea Estate.

<a href="/developers/milieu-property">Milieu</a> leaned into the fact the site 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.

<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/0x9H2B5-J0s?si=iI9mmmraDGsWj-0g" title="YouTube video player" width="560"></iframe>

The Rippon Lea gardens informed the landscaping at Elsternwick Gardens.<a href="/architects/woods-bagot"> Woods Bagot</a>, K.P.D.O., and<a href="/architects/flack-studio"> Flack Studio</a> worked to design the six low-rise buildings to be inkeeping with the wider community Milieu had envisioned, with significant separation between the buildings allowing for extensive landscaping and walkways.

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The head gardener of Rippon Lea Estate will also oversee the maintenance of the development's landscaping, ensuring continuity between the estate and the new residential precinct.

Milieu's commitment to sustainable design is also evident in Elsternwick Gardens, with all apartments being fossil fuel-free, powered by renewable energy, and equipped with provisions for EV charging and water harvesting systems.&nbsp;

The development also offers a range of amenities, including health and wellness facilities, pet care services, and a hospitality offering, further enhancing the appeal to prospective buyers.

The strong early sales reflect the demand for thoughtfully designed, sustainable living spaces in prime locations.

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McCormack says Elsternwick Gardens is a once-in-a-generation opportunity.

“The layers of thought and design within this project, alongside the historical and cultural importance of the site, renders this our most significant undertaking to date," McCormack says.

“This site represents a once-in-a-lifetime opportunity to build something truly special. Our first step was to engage the local community, to get a sense of what they expected. Through that process, we arrived at a design that centres on a fully realised natural landscape – a series of private, interconnected gardens that encircle the homes and extend seamlessly from Rippon Lea Estate.”

After the sales success, Milieu is now looking toward construction in the first half of 2025, with the former ABC Studios building currently under demolition.

[smartcode_project_cta:default project_id=136535]

Milieu Managing Director, Michael McCormack, called Elsternwick a "once-in-a-generation opportunity."

Milieu's Elsternwick Gardens development gains momentum following successful VIP launch

Boutique developer&nbsp;<a href="/developers/arena-property-group">Arena Property</a> has filed plans for its largest tower to date.

Arena, the developer behind the luxury low-rise apartment development Lana Bilinga, is proposing a 28-level building in <a href="/developments/main-beach-qld-4217">Main Beach</a>.

Plus Architecture has designed the tower, named Belle Vie—French for "beautiful life"—to feature two distinct sections, separated by an amenities level on the 18th floor. This facilities level includes a residents' lounge with a games area, a library, and various lounge spaces.

Adjacent to the lounge, is a wine cellar, a private dining room, and an outdoor sunset dining area. This level also offers a dedicated work-from-home space with a boardroom, as well as a 91 sqm gym that includes a Pilates studio, a sunrise yoga deck, and a functional training room.

<img alt="Belle Vie" data-entity-type="file" data-entity-uuid="6e5a1f78-2366-4fbe-b751-48fe4df41ef2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-29%20at%207.41.17%E2%80%AFPM.png?VersionId=0vnPBIPPs9iRTGmwOc0hdnY9MoIu4MGu" />

The levels beneath 18 incorporate 56 quarter-floor, two-bedroom apartments, each with a study or multi-purpose room, while above level 18 are 14 half-floor, three-bed units.

There are two four-bedroom apartments, the three-level penthouses, each with a dedicated home office and its&nbsp;own 120 sqm plus rooftop with a pool, spa, outdoor kitchen, lawn, and firepit area.

There are more amenities on the top of the podium, in the form of a swimming pool with a spa and a wet deck, hot and cold plunges, and a sauna.

The three-level podium, and basement, will have parking for 100 vehicles.

<img alt="Bella Vie Main Beach" data-entity-type="file" data-entity-uuid="b0cad1a5-cfd9-41a5-9d47-7e6a62e1dd34" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bella%20Vie%20form.png?VersionId=yoEEgWYDWZvTCWWMy3ki.JwKPM5u26AM" />

Plus said Bella Vie is situated in a pristine Main Beach location, on an amalgamted 1,010 sqm site at 47-49 Pacific Street, currently occupied by a three-level walk-up with 12 units.

"The site is flanked by two neighbouring tennis courts, providing a rare offering of expansive ocean, river and skyline views across various aspects of the site."

Plus, led locally by Danny Juric, said the building provides the "ultimate escape in luxury barefoot lifestyle."

"Stepping into the lobby from Pacific Street, passing through an under croft of green, residents par take in the experience a lush garden lobby. A tiered podium which is softly sculpted across three levels acts as a landing for planters, addressing the street interface. The podium continues and enhances the existing landscaped streetscape, to provide a rich and welcoming connection with ground plane."

<img alt="47 – 49 Pacific Street, Main Beach" data-entity-type="file" data-entity-uuid="6dac529f-070f-4a8c-bb39-c3740ba80dd7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/47%20%E2%80%93%2049%20Pacific%20Street%2C%20Main%20Beach.png?VersionId=gEtDD9qmEWayLjTwd0NJkK9z0FTB0HBo" />

Main Beach is undergoing a huge transformation from a lifestyle perspective with the redevelopment of the Marina Mirage shopping precinct, the Manta Ray residential and commercial development and Ritz Carlton hotel among several other key developments that will put&nbsp;<a href="/developments/main-beach-qld-4217">Main Beach</a>&nbsp;on the world map.

Jon Drew's Drew Group is working toward a late 2025 completion of <a href="/new-apartments/lagoon-main-beach-11-23-cronin-avenue-main-beach">Lagoon Main Beach</a>, one of the most popular developments in the suburb in the last few years, while Tye Alroe's Alroe Construction has recently launched <a href="/new-apartments/lune-main-beach-19-21-rankin-parade-main-beach-qld-4217">Lune Main Beach</a>, just six villa-style apartments opposite Broadwater.

Plus said Bella Vie is situated in a pristine Main Beach location, on an amalgamted 1,010 sqm site at 47-49 Pacific Street, currently occupied by a three-level walk-up with 12 units

First look exclusive: Arena Property seeks first high-rise tower with Bella Vie, Main Beach apartment plans

Luxury penthouses worldwide are often accompanied by exclusive clubs and amenity levels, offering residents of the most premium apartments a heightened sense of opulence and privacy.

Akin to a first class lounge at the airport, these spaces are reserved for those who own apartments at the top of the tower. Only a handful of residents are afforded access.

The likes of some of the world's most recognisable buildings, like One57 in New York, the Burj Khalifa in Dubai, and The Shard in London, offer their more affluent residents the privacy of bespoke amenities and the best views in the building.

The trend has recently made its way to Australia, but not to Australia's priciest capital.

Developers in Melbourne have become wise to it, trying to offer their penthouse buyers that little bit extra.

<a href="/developers/osk-property">OSK Property</a> recently revealed the penthouse collection atop <a href="/new-apartments/blvd-at-melbourne-square-19-hoff-boulevard-southbank">BLVD</a>, the latest stage of its $3 billion&nbsp;Melbourne Square precinct in Southbank.

[smartcode_project:default project_id=107714 project_image_fid=300209]

Residents of the eight penthouses will have exclusive access to the Skye Club Lounge on level 55 of the 75-level building.&nbsp;The Skye Club Lounge will feature a cocktail bar, dining room, and private gym.

The building also offers an extensive range of amenities including private dining rooms, &nbsp;another gym, a 25m indoor swimming pool, spa, sauna, golf simulator, entertainment and lounge spaces, and a two-level, co-working space.&nbsp;

[smartcode_project:default project_id=107714 project_image_fid=211867]

The quarter-floor penthouses, designed by David Hicks, range in size from 180 sqm to 471 sqm. One has already been snapped up for $6 million.

OSK Property Sales &amp; Marketing Director, Ivy Chen, said one significant driving factor of BLVD’s Penthouse Collection design was approaching each quarter-floor residence as an individual home, ensuring each offers a unique living experience that feels more like a standalone home than a bulk apartment dwelling.&nbsp;

[smartcode_project:default project_id=107714 project_image_fid=300212]

&nbsp;

Amid over 30 resident facilities in its recently completed R.Iconic development in South Melbourne, <a href="/developers/rcorporation">R.Corporation</a> has reserved a space on level 30 for The Horizon Lounge, exclusive for its Premium Collection residents.

The Premium Collection incorporates the penthouse and subpenthouses, as well as the occupants of the townhouses at the foot of the Plus Architecture-designed building.

[smartcode_project:default project_id=5234 project_image_fid=282598]

The space is home to a relaxed lounge area, dining space, and a commercial-sized kitchen, and a mezzanine meeting area.

The penthouse collection at R.Iconic has too been designed by David Hicks and have large master suites with walk-in wardrobes, kitchens with Mielie appliances and marble islands, and some of the best views in Melbourne, back to the city and out over the bay.

[smartcode_project:default project_id=5234 project_image_fid=298024]

On top of the Horizon Lounge, Premium Collection owners will have access to R.Iconic's plethora of amenity, including a&nbsp;one-acre rooftop podium with an outdoor running track, a heated pool, and outdoor gym facilities.

The podium also includes two dining pavilions, BBQ spaces, a zen garden, and a playground. Also within the building is a cinema, karaoke room, and a 24/7 concierge service.

[smartcode_project:default project_id=5234 project_image_fid=233904]

&nbsp;

<a href="/developers/kokoda-property">Kokoda Property</a> has released the exclusive penthouses atop the striking glass buildings. has just released the penthouses atop the <a href="/new-apartments/malvern-collective-2-station-place-malvern">Malvern Collective</a>, their two-tower, mixed-use development next to Malvern Station.

<h3>&nbsp;</h3>

<h3>&nbsp;</h3>

&nbsp;

The 19 apartments in the Penthouse Collection will spread across the highest levels of the two glass buildings that protrude from the new hospitality precinct Kokoda is putting the final touches to.

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Residents of the Penthouse Collection will benefit from exclusive access to The Collective Club, which offers hotel-style amenities such as a penthouse-exclusive lounge, dining room with a wine cellar, infinity pool, private cinema, gym, spa, and BBQ facilities.&nbsp;

A New York-style concierge service is available seven days a week, offering conveniences like dry cleaning, pet walking, and personalised assistance, further elevating the living experience.

[smartcode_project:default project_id=147169 project_image_fid=301059]

Malvern Collective is slated for completion in the coming months, with buyers to move in shortly after.

Carr's Chris McCue said the Penthouse Collectionis a&nbsp;pure concept that’s international in feel and yet totally appropriate to the local context.

"Experience unparalleled views of the bay and mountains at this world-class address, made for Malvern."

The likes of some of the world's most recognisable buildings, like One57 in New York, the Burj Khalifa in Dubai, and The Shard in London, offer their more affluent residents the privacy of bespoke amenities and the best views in the building

Inside the exclusive clubs and lounges reserved for Melbourne penthouse buyers

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."

[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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