Melbourne-based private developer, Hamton Property Group, has achieved a major milestone at its former University of Melbourne site in Hawthorn, receiving a planning permit to deliver a new&nbsp;nature-based neighbourhood.

The six-building, low-rise precinct, to be known as Scotch Hill Gardens, will comprise 365 residences, a mix of apartments and townhouses, as well as 5,500 sqm of new publicly-accessible green space and a new retail village to <a href="/developments/hawthorn-vic-3122">Hawthorn</a>.

The major residential development <a href="/new-apartments/hawthorn-vic-3122">on Auburn Road</a> is one of the largest to be approved under the Allan government’s accelerated Development Facilitation Program, which seeks to reduce the application timeframe for eligible projects.

After a joint application from <a href="/developers/hamton">Hamton</a> and the University of Melbourne in March 2022, the Planning Minister oversaw the rezoning of the site from public use to enable residential development and approved a detailed development plan to govern planning outcomes for the 1.6ha site.

Hamton settled on the purchase from the University in March 2024.

Following significant pre-application engagement, Hamton <a href="/news/vic/hamtons-500-million-redevelopment-of-former-university-of-melbourne-site-in-hawthorn-approved">lodged its permit application</a> with the Department of Transport and Planning (DTP) on 20 June and the permit was issued on 12 September, an approval timeframe of just 2 months and 23 days.

<img alt="Hamton" data-entity-type="file" data-entity-uuid="790c68ea-c84a-4321-93b6-12dcf996527b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-17%20at%2012.08.00%E2%80%AFPM.png?VersionId=caZm6__2kGgiguoLl_TYPNLY07g1MaGQ" /> 
Hamton’s Founder and Executive Chairman, Paul Hameister OAM. Image supplied

Hamton’s Founder and Executive Chairman, Paul Hameister OAM, said the approval by the Minister is a great example that the Development Facilitation Program works.

"It has enabled this new significant housing supply in a high-demand area of Melbourne where there are no other large development sites. The Program has brought forward this project by around 12 months,"&nbsp;Hameister said.

“The team at DTP has been incredibly responsive throughout the review and approval process and this approval timeframe is a direct reflection of their work ethic.

“High construction costs have eroded development project viability across the country and is currently the primary barrier to delivering new housing supply. Accelerating timeframes for planning approvals is one mechanism to partially address current challenges."

Hamton engaged with the local community extensively as to their plans as&nbsp;part of the rezoning process, with the views of Council and surrounding residents considered as part of the public Standing Advisory Committee process in March 2023.

“Victoria is currently facing a significant undersupply of housing, which is acute across inner-city markets,"&nbsp;Hameister added.

"This project will create a rare opportunity for buyers in a premium suburb that is highly sought-after."

Hamton has commenced construction of a sales display gallery onsite and will commence an expression of interest campaign in late October, with a public launch planned for February next year.

Hamton’s Founder and Executive Chairman, Paul Hameister OAM, said the approval by the Minister is a great example that the Development Facilitation Program works

Joel Robinson

Hamton given green light for $550 million masterplan on former University of Melbourne site in Hawthorn

The continued bullrun of unit growth in the Gold Coast has pushed the median value over $800,000.

So far in 2024, the unit market, which incorporates both apartments and townhouses, has jumped nearly 10 per cent, data from property analytics data firm CoreLogic shows. The median started 2024 at $724,000.

August showed another strong month for units, according to CoreLogic, recording 0.6 per cent growth.

The housing market tells a similar story, which is why downsizers are driving demand for new apartments and townhouses up and down the Gold Coast.

The median house value in the Gold Coast is $1,218,000, which in capital city terms, would be the second most expensive capital only behind Sydney.

CoreLogic’s Head of Research, Eliza Owen, noted that markets like the Gold Coast, along with Perth, Adelaide, and Brisbane, are outpacing other regions, thanks in part to a surge in demand for more affordable property options. This is reflected in the fact that unit values in most capital cities are now growing faster than house values.

<h2>What happened in Gold Coast’s off the plan apartment market in August</h2>

The Gold Coast's largest development for decades kicked off its construction in August.

Lewis Land, one of the pioneers of Gold Coast development founded by the late Bernard Lewis back in the 1950, broke ground on their landmark Biggera Waters masterplan, Harbour Shores.

<a href="/developers/lewis-land-group">Lewis Land</a>&nbsp;Chief Executive Officer Brett Draffen said the vacant 16-hectare site, which has been held by the group for more than 40 years, would be transformed into a vibrant ‘village of villages’ that will ultimately be home to more than 4,000 people.

[smartcode_project:default project_id=113271 project_image_fid=290031]

&nbsp;

<a href="/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters">Harbour Shores</a>&nbsp;has received a 6 Star Green Star Communities rating from the&nbsp;<a href="/news/a-greener-future-green-building-council-australia-discuss-climate-change">Green Building Council</a>&nbsp;of &nbsp;Australia, a world leadership standard, making it the most sustainable development in the history of the Gold Coast.&nbsp;

Greyburn will deliver the first collection of residences. Around 40 per cent of the first stage has been reserved, with Colliers handling the sales.

Designed by&nbsp;<a href="/architects/bda-architecture">BDA architects</a>,&nbsp;Harbour Shores&nbsp;will evolve over the next decade to deliver a mix of boutique apartments and villas, communal open spaces and parklands, a 1.2-kilometre waterfront boardwalk, private marina berths, and a range of resort-style resident amenities.&nbsp;&nbsp;

&nbsp;

[smartcode_project:default project_id=113271 project_image_fid=290028]

Another city-shaping development is also set to get underway with the approval of the redevelopment of the Gold Coast Turf Club.

The joint venture with the Gold Coast Turf Club and Tony Fung's Aquis Australia will see a new $370 million delivered. Known so far as the Sunlight Lifestyle Precinct, the new community will home eight new buildings, including three high-rises which will house most of the 582 apartments and 63 short-term accommodation suites.

<img alt="Gold" data-entity-type="file" data-entity-uuid="14bac870-daf3-4e36-93ae-0013ed40065f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-17%20at%209.31.01%E2%80%AFAM.png?VersionId=r3Y3kL4596MNGylyQnSoslv9mXJK5pEJ" />

Tower A and Tower B will also house the rooftop amenities like a swimming pool, outdoor dining area, sauna, spa, and an indoor function room, while Tower C, the tallest at 19 levels, will feature a two-level day club with a central pool, cabanas, day beds, pavilions, restaurant dining, bar space and a VIP lounge.

The remaining residential buildings will be low-rise, located away from the track, featuring ground-floor amenities along a sub-tropical boulevard.&nbsp;

The Sunlight Lifestyle Precinct project will span over seven years and aims to transform the area into a dynamic precinct that complements the Turf Club and nearby Home of the Arts (HOTA).

<img alt="Gold Coast Turf" data-entity-type="file" data-entity-uuid="2cc4457f-3797-49c6-b6f0-cc234e5a21cf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-17%20at%209.31.07%E2%80%AFAM.png?VersionId=YfH4px2IPGAq.ItcOTrt2fKlcSuSLYUp" />

There was plenty activity on the beach in August.

The only apartment project to launch to the market was <a href="/buildings/malo-broadbeach-8-jubilee-avenue-broadbeach-qld-4218">Malo</a>&nbsp;in <a href="/developments/broadbeach-qld-4218">Broadbeach</a>, the latest instalment from&nbsp;<a href="/developers/morris-property-group">Morris Property Group</a>.

The 16 half-floor apartments, designed by <a href="/architects/guida-moseley-brown-architects">Guida Moseley Brown Architects</a>, feature three bedrooms and expansive views across the Gold Coast skyline.&nbsp;

[smartcode_project:default project_id=112549 project_image_fid=293545]

Morris, with its own building arm, has been quietly building the boutique development, launching to the market just months before it completes. They're expecting to welcome buyers before the end of 2024.

Malo’s location offers residents easy access to Surf Parade, known for its dining options, as well as Pacific Fair, the largest shopping centre on the Gold Coast.

[smartcode_project:default project_id=112549 project_image_fid=293546]

Several developers bolstered their apartment pipeline last month, with a handful of notable applications submitted to the Gold Coast City Council.

The largest pipeline of apartments by one developer is no doubt Harry Triguboff's <a href="/developers/meriton" target="">Meriton</a>. They have once again filed for a new high-rise in Surfers Paradise.

The new development,&nbsp;<a href="/new-apartments/shore-meriton-126-the-esplanade-surfers-paradise">Meriton&nbsp;Shore</a>, at 126 Esplanade Surfers Paradise, takes its name from the 52-year-old high-rise, The Shore, which currently sits on the vast 3,460 sqm site along with The Dolphins boutique apartment block and several high-street retail spaces.

<a href="/developers/meriton" target="">Meriton</a>&nbsp;Shore will have 519 one, two, three and four-bedroom apartments across a 73-level tower designed by&nbsp;<a href="/architects/cottee-parker-architects" target="">Cottee Parker</a>&nbsp;with landscaping by DBI.

<img alt="First look exclusive: Meriton continue Surfers Paradise domination with another apartment tower proposed" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202024-08-21%20at%201.59.56%E2%80%AFPM.png?VersionId=2q3qLBmTZYwTfFnALgW5ruqEntr74c_Q" />

The 3,460 sqm site is less than 300&nbsp;metres from the under construction Iconica, 260 metres from Ocean that was completed in 2022, and 700 metres from the recently launched Cypress Palms, set back from the beach on Cypress Avenue.

The four developments total well over 2,000 apartments.

Read more:&nbsp;<a href="/news/qld/first-look-exclusive-meriton-continue-surfers-paradise-domination-with-another-apartment-tower-proposed">First look exclusive: Meriton continue Surfers Paradise domination with another apartment tower proposed</a>

Down the coastline,&nbsp;<a href="/developers/mosaic-property-group" target="">Mosaic Property Group</a>&nbsp;finalized&nbsp;plans for their newly acquired beachfront development site in <a href="/developments/palm-beach-qld-4221">Palm Beach</a>.

&nbsp;

The nine-level building, designed by <a href="/architects/bureauproberts">bureau^proberts</a>, will replace a 1980s apartment block and will feature 32 luxury apartments.&nbsp;

<img alt="First look: Mosaic finalizes plans for next Gold Coast apartment development" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202024-08-15%20at%2011.28.54%E2%80%AFAM.png?VersionId=8Jgl0lJVWSQKPXVXowSkj9kLO33paNsM" />

The new development will have a mix of seven two-bedroom and 25 three-bedroom apartments. The apartments will sit above two levels of basement parking for 67 cars. It will form part of Mosaic's Masterpiece Series of luxury new apartment developments.

Read more:&nbsp;<a href="/news/qld/first-look-mosaic-finalizes-plans-for-next-gold-coast-apartment-development">First look: Mosaic finalizes plans for next Gold Coast apartment development</a>

Another interesting development application in August came from Malaysian developer&nbsp;<a href="/developers/mrcb" target="">MRCB</a>, who is currently delivering Vista at Surfers Paradise.

They filed for a 20-level tower at 20 Queen Street, <a href="/developments/southport-qld-4215">Southport</a>, offering 180 one and two-bedroom apartments, configurations left behind in current market conditions.

<img alt="MRCB targets untapped affordable Gold Coast apartment sector with new Southport tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Southport%20Plus%20Architecture.png?VersionId=clOZ.5Uh7Z2t.GooSyklGLtDcSdZGjnQ" />

&nbsp;

<a href="/developers/mrcb" target="">MRCB</a>&nbsp;International Sales and Marketing Director, Kevin Zhang, said the&nbsp;Southport development is aimed at capitalising on the prime location.

“The north-facing apartments will have unobstructed views of Broadwater, while residents will also enjoy easy access to all the popular dining, entertainment and shopping precincts of the central Gold Coast right at their doorstep, with access to the light rail.”

Read more:&nbsp;<a href="/news/qld/mrcb-targets-untapped-affordable-gold-coast-apartment-sector-with-new-southport-tower">MRCB targets untapped affordable Gold Coast apartment sector with new Southport tower</a>

CoreLogic’s Head of Research, Eliza Owen, noted that markets like the Gold Coast, along with Perth, Adelaide, and Brisbane, are outpacing other regions, thanks in part to a surge in demand for more affordable property options

City Beat September 2024: Gold Coast unit median tips over $800,000

For the first time since the Reserve Bank of Australia began hiking rates in May 2022, markets are pricing in four interest rate cuts within the next 12 months. 
 
At the end of each trading day, the ASX publishes its&nbsp;RBA Target Rate Tracker&nbsp;which calculates the probability of changes in the overnight cash rate based upon the implied yields of very short-term (30-day) interest rate futures.&nbsp; 
 
The ASX’s Tracker as at yesterday’s close shows that markets are predicting the RBA will first cut interest rates by 25 basis points in February 2025, with three more in the run-up to August. The RBA meets eight times in 2025 (February, April, May, July, August, September, November, and December). 
 
The RBA’s official cash rate sits at 4.35 per cent.

Any movement in the official cash rate, and most importantly banks passing on those interest rate changes, will help address several challenges in the off the plan apartment space.&nbsp;

The first one is demand. A lower interest rate environment means buyers will have more money to spend due to increased serviceability. Buyers haven't had an opportunity to extend their serviceability in over two years.

For a prospective buyer wanting to take out a $641,000 mortgage, the average mortgage size across Australia according to the ABS, four rate cuts would translate to over $5,000 in savings per year on average, Finder analysis suggests.

On top of lower repayments, there's increased serviceability, meaning a buyer can spend more than they could if the interest rate is higher.&nbsp;

Average Aussie mortgage repayments

<table>
	<thead>
		<tr>
			<th>&nbsp;</th>
			<th>Cash rate</th>
			<th>Average home loan rate*</th>
			<th>Average monthly repayment</th>
			<th>Average monthly decrease</th>
			<th>Average annual repayment</th>
			<th>Average annual decrease</th>
		</tr>
	</thead>
	<tbody>
		<tr>
			<td>September 2024</td>
			<td>4.35%</td>
			<td>7.07%</td>
			<td>$4,296</td>
			<td>-</td>
			<td>$51,552</td>
			<td>-</td>
		</tr>
		<tr>
			<td>1 rate cut</td>
			<td>4.10%</td>
			<td>6.82%</td>
			<td>$4,189</td>
			<td>$107</td>
			<td>$1,284</td>
			<td>$1,284</td>
		</tr>
		<tr>
			<td>2 rate cuts</td>
			<td>3.85%</td>
			<td>6.57%</td>
			<td>$4,083</td>
			<td>$213</td>
			<td>$2,556</td>
			<td>$2,556</td>
		</tr>
		<tr>
			<td>3 rate cuts</td>
			<td>3.60%</td>
			<td>6.32%</td>
			<td>$3,977</td>
			<td>$319</td>
			<td>$3,828</td>
			<td>$3,828</td>
		</tr>
		<tr>
			<td>4 rate cuts</td>
			<td>3.35%</td>
			<td>6.07%</td>
			<td>$3,873</td>
			<td>$423</td>
			<td>$5,076</td>
			<td>$5,076</td>
		</tr>
		<tr>
			<td colspan="5">Source: Finder, RBA, ABS. *Owner-occupier variable discounted rate. Repayments based on the average loan of $641,143 (ABS data analysed by Finder).</td>
			<td colspan="2"><img alt="" data-bit="iit" data-entity-type="" data-entity-uuid="" height="31" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXco5HuNAjqBICpVCvo3HzWGg4p7cL4LNNgRMBhoA67KYJfOqqJQa7ZSRA71Ju988qgvPsCeSbWhwDfAV4E8iSpKXp6wBkUPMclLxe1_IMfwemjiI4eU8l9Q_QrMukqJYMAzm_jSHgst3qtOzFkqULeIMf8?key=iigATMhksU1ODdPeSGzwIA" width="170" /></td>
		</tr>
	</tbody>
</table>

Not only will buyers have more money to spend due to increased serviceability, but the supply of new apartments is likely to increase if borrowing costs for the developers are reduced.

Many developers across the country have new apartment projects ready to launch but are waiting for more favorable news on interest rates. It seemed at the start of the year that rates would be going down by mid-2024; however, inflationary pressure has led the RBA to maintain a hold on rates in each of the five meetings this year.

The Board will meet again next week, expecting to hold the official cash rate again at 4.35 per cent.

For a prospective buyer wanting to take out a $641,000 mortgage, the average mortgage size across Australia according to the ABS, four rate cuts would translate to over $5,000 in savings per year on average, Finder analysis suggests

Markets price in four RBA rate cuts in next 12 months: What it means for the off the plan apartment market

It was only earlier this year that DCF Property launched its first inner-city Melbourne apartment development.

Now <a href="/developers/dcf-property">DCF</a>, led by Calvin Huang, has rolled out the big guns. They've revealed <a href="/new-apartments/first-light-28-albert-road-south-melbourne">First Light</a>, just 30 apartments in the heart of South Melbourne's forever popular Domain Precinct.

The new tower at 28 Albert Road will be a mixed-use building with luxury apartments sharing the building with an 88-room Nu by YOO Hotel, the brainchild of property entrepreneur John Hitchcox and&nbsp;French industrial architect and designer Philippe Starck.

[smartcode_project:default project_id=2556 project_image_fid=299339]

The collaboration continues in the two ground-floor restaurants. One will be ran by acclaimed chef Scott Pickett, from Chancery Lane and Estelle, and the other by restaurateur Jason Lau.

First Light has been designed by Yoo &amp; Stark with an immersive entry experience design created by MILINSKI. Paul Milinski is well known for&nbsp;his ability to merge art and technology.

Milinski has introduced fluid, kinetic design elements that give the building a sense of movement with the angle components of the southern façade creating a "flutter" effect.

[smartcode_project:default project_id=2556 project_image_fid=299356]

The apartments have been designed by&nbsp;French architect Léo Terrando, whose approach was to blend global design principles with Melbourne's charm, using materials like brushed nickel, charcoal oak and travertine flooring.

Each residence in First Light will include Boffi kitchens with Miele Matte Black appliances, only available exclusively in Australia.

The apartments will also feature high ceilings, double-glazed windows, and stone by Artedomus.

[smartcode_project:default project_id=2556 project_image_fid=299337]

In addition to all the design and restaurant collaborations, First Light boasts another relationship, with Harrolds, offering residents exclusive fashion previews,&nbsp;personalised styling, and custom-tailoring services.&nbsp;Space Furniture, another key partner, has curated the interior furnishings, selecting award-winning pieces.

The Nu by YOO Hotel will bring a string of hotel facilities that residents will have access to. Temple Spa at Nu by YOO is part of the state-of-the-art wellness facilities that also include a hotel-style swimming pool set in tropical landscaping.

[smartcode_project:default project_id=2556 project_image_fid=299353]

The Albert Road, <a href="/new-apartments/south-melbourne-vic-3205">South Melbourne</a> location of First Light puts it 600m from the new ANZAC Station, set to open in 2025.

Marshall White Projects is marketing First Light.

DCF Property announced themselves on the Melbourne development scene earlier this year when they launched <a href="/new-apartments/new-johnston-abbotsford-400-johnston-street-abbotsford-vic-3067">New Johnston</a> in <a href="/developments/abbotsford-vic-3067">Abbotsford</a>. The 46-apartment development is now under construction by Valeo.

DCF has also just launched a 42-townhouse development, Thompsons Place, in Templestowe.

[smartcode_project_cta:default project_id=2556]

The apartments have been designed by French architect Léo Terrando, whose approach was to blend global design principles with Melbourne's charm

Inside First Light: South Melbourne's newest apartment development shaped by French architects and celebrated restaurateurs

Local downsizers and those seeking a low-maintenance weekender on the Mornington Peninsula are showing the greatest interest in the recently completed Safety Beach apartment development, Osprey.

<a href="/buildings/osprey-safety-beach-15-martha-cove-boulevard-safety-beach-vic-3936">Osprey Safety Beach</a>, which won the national award for&nbsp;Small Scale Development of the Year at the 2024 Urban Developer Awards, comprises just 18 two and three-bedroom apartments, and are as competitively priced as any new apartment in the burgeoning community.

[smartcode_project:default project_id=138447 project_image_fid=290740]

Osprey has been developed and built by <a href="/developers/figurehead">Figurehead</a>, a construction firm that was the builder behind several new buildings in the Martha's Cove masterplan which was approved eight years ago.

Since then several new developments have been completed, and so has significant amenity, the most notable being Martha's Table, one of the Mornington Peninsula's most popular venues and the heart of the local community.

The Mediterranean restaurant, led by head chef Adam Beckett, doubles up as Arthur's Bar, a grocer, and a wine bar.

[smartcode_project:default project_id=138447 project_image_fid=290733]

&nbsp;

Projects by Buxton Director Heath Thompson, who has just taken over the sales at Osprey, is already seeing demand from several buyer camps.

"Where <a href="/developments/safety-beach-vic-3936">Osprey is located</a> and the configurations it has on offer, it can suit several uses, which is attracting several different buyer types," Thompson says.

"Local downsizers who either live in the immediate area, or those who have large landholdings in some more remote areas of the Mornington Peninsula who want to be closer to the water, have been the most active buyers so far.

"Then there's those from Melbourne who want a lock up and leave, low-maintenance weekender that they can use themselves or lease as a holiday let when not in use."

Thompson says the location lends itself to boat enthusiasts.

"It's just an hour from Melbourne, and the positioning of Osprey means you're only 150 metres from the marina where you can dock your boat."

[smartcode_project:default project_id=138447 project_image_fid=290744]

<a href="/architects/wolveridge-architects">Wolveridge Architects</a>, known for their Peninsula beach home designs, handled the architecture at Osprey. They focused on creating a striking facade with several curves that inform the living space, capturing views of the marina from the internal living area and the balcony.

The apartments are characterised by their generous natural light and air circulation, facilitated by a unique 'lightwell breezeway' entry for each home that promotes natural cross ventilation.

[smartcode_project:default project_id=138447 project_image_fid=290625]

&nbsp;

The interior design of Osprey apartments is inspired by coastal living, featuring a warm and restrained palette.&nbsp;Light cream tones replace stark white finishes, while materials like cover batten wall linings, hardwood timber accents, and pale green hues evoke the external elements of a beach home.&nbsp;

The modern kitchens in Osprey are equipped with Fisher and Paykel appliances, undermount sinks and porcelain benchtops.

Osprey apartments are ready to move in, and are priced from $795,000.

[smartcode_project_cta:default project_id=138447]

"Where Osprey is located and the configurations it has on offer, it can suit several uses, which is attracting several different buyer types," Projects by Buxton Director Heath Thompson says



Osprey Safety Beach: The award-winning apartments catching the eye of Mornington Peninsula buyers

Having taken over the Central Coast Quarter, Gosford apartment development from St Hilliers, builder-developer&nbsp;Urban Property Group&nbsp;has released the final apartment of the first stage of the project.

<a href="/developers/urban-property-group">Urban Property Group</a>&nbsp;has recommenced construction of The Waterfront, a 25-level tower with 136 apartments. They've poured the concrete up to level 14, and are on track for completion in Q4 2025.

The final release of apartments offer a mix of two and three-bedroom configurations, as well as a handful four-bedroom apartments.

<img alt="The Waterfront at Central Coast Quarter" data-entity-type="file" data-entity-uuid="69a35482-c3b3-48b8-82f0-4e4aff844d5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Waterfront_Living%20room_water%20views.jpg?VersionId=MuvFudeDBdrlIdbJQlA.YUerCI2XWdy9" />

One of the key measures to be implemented by UPG to safeguard buyer interests is the application of <a href="/news/resilience-latent-defects-insurance">10-year Latent Defects Insurance</a> (LDI), supplied through Resilience Insurance, offering additional protection against unforeseen construction defects for 10 years from the date of purchase.

Urban Property Group has retrospectively applied this significant consumer protection for all future and existing buyers of The Waterfront, where originally there was none, and is employing stringent quality assurance measures to ensure timely completion of the construction phases. This proactive approach underscores Urban's reputation as a trustworthy partner for consumers.&nbsp;

Read more:&nbsp;<a href="/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">What is Latent Defects Insurance and is it bringing confidence to the off the plan apartment market?</a>

Urban Property Group Sales Director, Tom McIvor, says it is pleasing to see such enormous interest in the project on the Central Coast.

"The Waterfront represents the pinnacle of design and lifestyle, and Urban Property Group is proud to be delivering homes that offer contemporary coastal living," McIvor says,.

"Central Coast Quarter’s retail offering will further enhance this experience, providing residents with convenient access to an array of dining options at their doorstep. We are excited to create a vibrant new community in Gosford and &nbsp;The Waterfront offers buyers the opportunity to be among the first to join this new precinct.”&nbsp;

<img alt="The Waterfront at Central Coast Quarter balcony" data-entity-type="file" data-entity-uuid="81a870e0-9e76-4474-9f39-b2c7a099eabf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Waterfront_Balcony.jpg?VersionId=1TnlcyDh5jSwwUKOYvWMqm1TL3GGITIp" />

Designed by&nbsp;<a href="/architects/dko-architecture">DKO</a>, the majority of apartments at 26-30 Mann Street offer unobstructed views of Brisbane Waters, while there's also The Panorma Deck, an exclusive resident rooftop entertaining area.

<a href="/new-apartments/central-coast-quarter-32-mann-street-gosford">Central Coast Quarter</a> is a mixed-use precinct that will deliver around 334 apartments, 2,800 sqm of retail space, and a public domain, including a food and beverage precinct.

Urban Property Group <a href="/news/nsw/urban-property-group-acquires-central-coast-quarter-from-st-hilliers">took over the site</a> from the collapsed developer St Hillers earlier this year.

Central Coast Quarter is a mixed-use precinct that will deliver around 334 apartments, 2,800 sqm of retail space, and a public domain, including a food and beverage precinct

Urban Property Group take out Latent Defects Insurance at Central Coast Quarter apartment precinct

When drawing up plans for its 12th residential apartment development on the Gold Coast, Sherpa Property Group set out with a goal.

“We created Perspective Nexus to deliver luxury, and comfort residences and revolutionise beach living for local downsizers," <a href="/developers/sherpa-property-group">Sherpa</a> General Manager, Daniel Clarke, said.

“Our goal with <a href="/new-apartments/perspective-nexus">Perspective Nexus</a> is to transform beachfront living with state-of-the-art amenities and innovative design."

The objective from the outset was to maximise liveability for the residents of the nine-level building on the eastern side of the Gold Coast Highway in&nbsp;<a href="/developments/palm-beach-qld-4221">Palm Beach</a>.

[smartcode_project:default project_id=108324 project_image_fid=228359]

When designing Perspective Nexus, Sherpa enlisted <a href="/architects/hal-architects">HAL architects</a> to deliver a premium collection of 35 spacious apartments. There are two, three and four-bedroom apartments on offer, including&nbsp;two half-floor penthouses and three two-storey sky homes with private rooftops.

“We partnered with HAL Architects to ensure that Perspective Nexus is designed to seamlessly integrate lifestyle, location and liveability, offering the Gold Coast’s most liveable floorplans,” Clarke said.

“Crafting the most unique and functional house-sized floorplans on the eastern side of the highway has been a meticulous journey, emblematic of our commitment to excellence in design and functionality.&nbsp;

“Each detail has been thoughtfully tailored to enhance liveability and luxury, setting a new standard for coastal living. This dedication to innovation is a hallmark of all Sherpa developments, ensuring every resident experiences unparalleled comfort and sophistication”.

[smartcode_project:default project_id=108324 project_image_fid=250147]

Perspective Nexus will feature 79 car parks for both residents and visitors, including electric car charging stations, individual apartment storage, a car wash bay, parcel delivery storage and cold storage.

Perspective Nexus enables and celebrates beach living, with outdoor showers and a dog-wash area to cater to locals seeking to downsize and enjoy the beach which is just a stone’s throw away.

The building will also have a resident-only wellness centre with&nbsp;a magnesium spa, sauna and steam room. Internal stairs will lead down to the resident’s exclusive recreational area that will feature a spa, pool, wellness garden, and private dining area with an outdoor kitchen.&nbsp;

[smartcode_project:default project_id=108324 project_image_fid=245951]

“The ultimate lifestyle starts with Perspective Nexus, where a world-class beachfront location is combined with luxury living to ensure all residents experience the best," Clarke added.

Sherpa has appointed LPS Group as the project builder. LPS has already commenced construction on Perspective Nexus and are expecting completion in Q3 2025.

Only a handful of apartments remain, with 80 per cent of homes already snapped up.

[smartcode_project_cta:default project_id=108324]

Perspective Nexus enables and celebrates beach living, with outdoor showers and a dog-wash area to cater to locals seeking to downsize and enjoy the beach which is just a stone’s throw away

Sherpa to "revolutionise beach living for local downsizers" as Perspective Nexus reaches 80 per cent sold

Melbourne's housing supply could see a significant boost through strata reform, according to new research by Urbis.

The study identified over 1,000 strata sites within a 15km radius of Melbourne's CBD that could collectively deliver over 100,000 additional dwellings.&nbsp;

Urbis utilised spatial data to locate all strata developments within <a href="/developments/melbourne-vic">15km of Melbourne CBD</a> with more than one property/lot present and an existing address pre-2010. &nbsp;

[smartcode_project:default project_id=107714 project_image_fid=227201]

The study identified all lots with zoning that allows for residential use and calculated the potential additional dwelling capacity based on current planning controls.&nbsp;

The research found that the underlying land value of these sites exceeds the value of the existing strata titled lots. &nbsp; 
This indicates a significant opportunity for redevelopment and uplift in the housing supply.&nbsp;

"Repositioning underdeveloped strata sites has the potential to deliver a much-needed uplift in well-located housing supply," said Mark Dawson, Director at Urbis.&nbsp;

"Notably, around half of this dwelling uplift is located within the <a href="/developments/melbourne-vic-3000">City of Melbourne</a>. With over 140,000 &nbsp;key workers employed within the City of Melbourne, additional housing supply close to employment centres would provide critical relief to those who often need to live close to where they work."

[smartcode_project:default project_id=3260 project_image_fid=218718]

The research also highlights the need for legislative reform to facilitate these changes. Urbis suggests amendments to the Owners Corporations Act 2006 to allow for a collective sale with a 75 per cent consensus and the introduction of legislation similar to the NSW Act - Strata Schemes Development Act 2015.&nbsp;

Urbis Director, Alex Nunn, said the&nbsp;State's ambition to deliver 70 per cent of new housing in infill areas is well-supported by this strata reform.

"Measures that align and amplify proposed policy to unlock housing supply within the inner and middle ring are highly welcomed," Nunn said.

"The liveability and demand for housing in these localities has been proven over the years and ageing strata developments occupy some of the most sought-after real estate in Victoria."

Urbis concludes that strata reform could unlock significant housing supply in <a href="/developments/melbourne-vic">Melbourne's inner and middle rings</a>, aligning with the State's infill housing supply goals and providing much-needed housing for key workers.

"The State's ambition to deliver 70 per cent of new housing in infill areas is well-supported by this strata reform."

Strata reform could trigger 100,000 new dwellings in Melbourne: Urbis

State governments in Tasmania and Western Australia have introduced new stamp duty discounts aimed at encouraging the construction and purchase of new apartments and units.

These measures are part of broader efforts to increase housing density and provide more affordable housing options in regions where new construction has lagged behind demand.

In Tasmania, a 50 per cent stamp duty concession has been implemented for buyers of new apartments and units that are either off-the-plan or under construction.

The discount applies to properties valued at up to $750,000 and is available until June 30, 2026. This initiative is designed to support medium-density housing and make apartment living more accessible to Tasmanians.&nbsp;

The state government hopes that this will not only boost construction activity but also provide greater certainty for builders and developers by reducing financial risks associated with large-scale projects.

Western Australia has also introduced stamp duty exemptions and discounts to stimulate the new apartment market.&nbsp;

Buyers can benefit from a full stamp duty exemption on off-the-plan apartment purchases valued at up to $650,000 if the property is bought before construction begins.

For properties under construction, a 75 per cent stamp duty discount is available, also on purchases up to $650,000. Additional concessions are offered for homes worth up to $750,000.&nbsp;

[smartcode_project:default project_id=142314 project_image_fid=263307]

The new policies reflect a growing recognition of the need to address housing affordability and supply issues, particularly in cities like Hobart and Launceston, where housing density remains low.&nbsp;

Although the Tasmanian housing market saw an 8.8 per cent increase in dwelling approvals in June, the state still trails significantly behind others.

The effectiveness of these discounts in driving new apartment construction will depend not only on buyer uptake, but also on the willingness of local governments to approve higher-density developments, a process that has historically faced challenges in Tasmania.

These stamp duty concessions are part of a broader debate on the role of such taxes in the property market.&nbsp;

Some economic analysts argue that removing or significantly reducing stamp duty could be a key factor in making housing more accessible to a wider range of buyers, particularly in regions where the tax represents a substantial portion of the cost of purchasing a home.&nbsp;

The latest measures in Tasmania and Western Australia are seen as steps towards addressing these concerns, although their long-term impact on housing supply and affordability remains to be seen.

The new policies reflect a growing recognition of the need to address housing affordability and supply issues, particularly in cities like Hobart and Launceston, where housing density remains low

Tasmania joins Western Australia in introducing stamp duty discounts to off the plan property buyers

Boutique Gold Coast developer, Alroe, has revealed one of the most exclusive low-rise apartment developments Main Beach has seen in years.

Lune, overlooking the Broadwater on the corner of Rankin Parade and Peak Avenue, comprises just six half-floor apartments, that present more like villas, across a three-level building.

Lune apartments present more like villas due to their large footprint, with a footprint of nearly 300 sqm of indoor and outdoor living.

[smartcode_project:default project_id=146373 project_image_fid=297485]

Each of the apartments offer three ensuited bedrooms and extensive outdoor entertainment space, be it the rooftop for the penthouses, balconies with water views from the second-level apartments, or wrap-around courtyard gardens for the ground-floor apartments.

Four of the six apartments have swimming pools; the two ground-level apartments and the two penthouses, the latter with their own private rooftop terrace.

<a href="/developers/alroe-constructions">Alroe</a> Founder and Managing Director, Tye Alroe, says <a href="/new-apartments/lune-main-beach-19-21-rankin-parade-main-beach-qld-4217">Lune</a>&nbsp;captures the essence of <a href="/developments/main-beach-qld-4217">Main Beach</a> living through a bespoke offering that he believes is unrivalled in the market.

“We are creating an exclusive collection of finely crafted villas that are designed to truly capture the laid-back Main Beach lifestyle of a bygone era - while unashamedly delivering an uber-luxurious residential offering for residents.

“Each of these villas provides living areas equivalent to a large home with a level of private amenities that you would expect from a luxurious coastal beach house.”

[smartcode_project:default project_id=146373 project_image_fid=297498]

Alroe, which has an enviable record of project completion in Southeast Queensland over the past 12 years, began construction of Lune in May this year. The project is scheduled to welcome its first residents from mid-2025.

Construction is being undertaken by in-house subsidiary Alroe Constructions, a custom-build partner that operates in the multi-residential sector delivering luxury townhouses, low and mid-rise apartments, and NDIS special-needs apartments.

Alroe has delivered an extensive portfolio of boutique projects in Southeast Queensland and Northern NSW.

“Launching off the success of our most recent development, The Finn, Lune continues the legacy of excellence synonymous with the Alroe name,” Alroe added.

“The Finn achieved record-breaking sales prices, with five out of eight apartments sold within the first 10 weeks of the campaign, underscoring its unparalleled appeal in today's market.

“Projects of this calibre are becoming increasingly rare due to rising land prices, which are driving down feasibility and leading to the shelving of similar developments. Lune distinguishes itself with spacious villas and unobstructed views, setting new standards for size and vistas in the area."

[smartcode_project:default project_id=146373 project_image_fid=297491]

The villa lifestyle at Main Beach has been reimagined at Lune where the master suite has been elevated to provide a new level of indulgence through inclusions such as a sizeable dual dressing zone and ensuite.

The two ground-floor villas offer extensive outdoor living, lush gardens and their own private pool, while residences on the upper levels have been designed with generous balconies and access to their own private rooftop gardens providing views of the Broadwater.

The two large living spaces in each villa are complemented by a galley-style kitchen and generous dining area.

Lune villas have already attracted strong interest from local and interstate buyers.

Construction on Lune commenced April 2024, and is expected to be completed around June 2025.

[smartcode_project_cta:default project_id=146373]

Alroe Founder and Managing Director, Tye Alroe, says Lune captures the essence of Main Beach living through a bespoke offering that he believes is unrivalled in the market.

Alroe reveals luxury Main Beach apartment development, Lune

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."

[smartcode_project:default project_id=1979 project_image_fid=363268]

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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