A sharp slowdown in the pace of construction cost growth may be an early sign that pressures are stabilising within the building sector.

CoreLogic’s Cordell Construction Cost Index (CCCI), which tracks the cost to build a typical new dwelling, returned a quarterly growth rate of 0.5 per cent for the September quarter, the smallest lift since the three months to June 2019 and half the pre-COVID decade average of one per cent per quarter.

This took the annual growth in the index to 4.0 per cent, below the recent quarterly peak of 4.7% this time last year.

CoreLogic Head of Australian Research Eliza Owen said while construction costs are still very elevated, the ongoing level of increase has normalised.

“This is the fourth consecutive slowdown in the quarterly pace of growth for residential construction costs,” Owen said.

“The slowdown in new dwelling approvals also points to mixed news for the construction industry next year. On the one hand, this will free up capacity for material and labour resources, but it will also mean greater competition for new jobs.”

The recent slowdown in the growth rate of construction costs is broadly in line with the new dwellings cost sub-component of the ABS CPI figures.

The ABS CPI sub-index saw a peak in the March 2022 quarter at 5.7 per cent, and has since slowed to just one per cent through the June quarter of 2023.

"The cost of new owner occupier dwelling purchases comprises the largest weighting in the CPI ‘basket’, so the continual easing in the CCCI may also be a forward indicator of inflationary pressures easing within the building sector,” Owen added.

Apartment developers have seen costs soar over the last few years since the pandemic, making their projects unfeasible. While costs are still considerably higher than they were two years ago, the big difference is they're not going up every month like they were in 2021 and 2022.

CoreLogic Construction Cost Estimation Manager John Bennett said cost pressures in construction are shifting from an issue of materials, to labour.

“While material costs appear to have stabilised in general, labour costs have had a number of new pressures applied,” Bennett said.

“Award rates have increased more than five per cent across the construction industry, coming in higher than previous years."

&nbsp;

<h1>Key findings by state – Q3 2023 CCCI Report</h1>

- The CCCI for New South Wales rose 0.6% over the three months to September 2023, steady on the previous quarter but down from a recent high of 4.0% Q3 last year. The annual increase also sank to 3.9% from 7.3% in the three months to June 2023.

- Victoria’s CCCI recorded a 0.3% increase in construction costs over the September quarter, down from 0.7% in the three months to June and the largest deceleration in construction costs over the quarter. Annually costs increased 3.7%, from a peak of 13.0% in the calendar year of 2022.

- Queensland saw construction costs rise by 0.8% over the quarter, the highest quarterly increase 
at a state level and 10 basis points up on Q2 2023. On an annual basis, costs increased 4.8%.

- In Western Australia, construction costs rose 0.2% over the quarter, the lowest quarterly growth rate of all states. The quarterly pace of change is down from a recent high of 4.3% in the September quarter of 2021, and is running below the pre-COVID decade average rate of 1.0%.

- South Australia's increase in construction costs was 0.6% for the quarter, the smallest increase in the CCCI since the Q3 2020, when the effects of material constraints and a surge in demand from HomeBuilder were yet to be fully felt in the residential construction space. The annual increase plummeted to 4.1% from a recent high of 10.5% in the 2022 calendar year.

CoreLogic Head of Australian Research Eliza Owen said while construction costs are still very elevated, the ongoing level of increase has normalised

Joel Robinson

Construction costs ease prompting apartment developers to look forward

National property developer <a href="/developers/billbergia">Billbergia</a> is seeking to create a new sustainable tower in the heart of <a href="/developments/rhodes-nsw-2138">Rhodes</a>.

<a href="/developers/billbergia">Billbergia</a> are no strangers to <a href="/developments/rhodes-nsw-2138">Rhodes</a>. They're currently&nbsp;developing a new $70 million community recreation centre and childcare centre and have delivered the <a href="/developments/rhodes-nsw-2138">Rhodes</a> Central Shopping Centre, the 1.2-hectare Phoenix Park and the 330 metre Bennelong Bridge from Rhodes to Wentworth Point.

The plans with Canada Bay Council are for a 37-level, 244-apartment tower at&nbsp;9-13 Blaxland Road.

The proposed new tower features a striking slender form designed by architects GroupGSA in collaboration with Singaporean landscape studio Salad Dressing - whose exterior design concept earned them first place in a design excellence competition for the site.

Aligned with the principles of the Rhodes Place Strategy, the proposed new tower sits within the <a href="/developments/rhodes-nsw-2138">Rhodes</a> Station Gateway East precinct that was rezoned by NSW State Government in 2021 following extensive community consultation.

With a small tower footprint of just 680 square metres, the site currently houses Rhodes Business Centre, a four-level commercial office building.

<img alt="Rhodes" data-entity-type="file" data-entity-uuid="c0434553-28f6-4314-bc5b-642be3e72550" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-10-12%20at%2012.21.05%20pm.png?VersionId=_tnyyV3qSZ02qg_Nsy1sUm2ECLFF7nPv" />

The proposed tower will provide a new, ‘green’ ground plane connection between Blaxland Road, Rhodes Station, Churchill Tucker Reserve, McIlwaine Park and Brays Bay.

Set to deliver 244 apartments in a range of configurations, the proposed new tower sits above a mixed-use podium with nine levels of basement car parking below. The podium will be activated by a café, while an extension of the hardscape at the park junction will facilitate outdoor seating.

Many apartments within the tower will have a dual aspect with natural cross-ventilation, while vertical biophilic gardens will soften the building’s façade.

Resident amenity also includes 424 sqm of communal spaces including a dining and alfresco area on Level 20 and a rooftop tree canopy and infinity pool crowning the tower.

In addition to the lush rooftop garden, <a href="/developers/billbergia">Billbergia’s</a> design features a two-storey high suspended Ficus tree at its entrance, a nod to nearby remnant giant Ficus trees that date back to the early 1900s.

<img alt="Bilbergia" data-entity-type="file" data-entity-uuid="c4f8c1d8-a272-4901-900e-6b3d6e0777be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-10-12%20at%2012.21.09%20pm.png?VersionId=b3AVsgpKAOy4a7PpB.QyUpauSXH4lwxC" />

A 1,537 sqm landscaped area will enhance public amenity and facilitate greater connectivity to the nearby Rhodes Train Station.

Saul Moran, Development Director of Planning and Design at <a href="/developers/billbergia">Billbergia</a>, said the plan for&nbsp;the Blaxland Road project is aligned with <a href="/developers/billbergia">Billbergia's</a> philosophy of delivering high-quality transport-oriented housing supported by infrastructure and community amenity.

“<a href="/developers/billbergia">Billbergia</a> has been part of the Rhodes community for more than 15 years delivering major developments such as the national award-winning Rhodes Central project and Village Quays on the western side of Rhodes station.”

The proposed tower will set a new benchmark for sustainable living, delivering the most highly sustainable new apartments in Rhodes. It is seeking to achieve a&nbsp;7.4 Star NaTHERS sustainability rating.

The tower has been designed to ensure a high level of performance is achieved for its passive efficiency characteristics. ESD features include low-water gardens, high- tech swimming pools, Photo Voltaic solar power, efficient lighting and air- conditioning, and smart building sensors (and BMS). Strong emphasis has also been placed on waste minimisation, recycling, green-transportation, landscaping, climate- adaptability, and eco-materials.

With an innovative biophilic design - described by Group GSA as a “vertical forest” - the proposed tower is earmarked to redefine the Rhodes enclave with elevated architectural design. The green façade provides acoustic and urban heat mitigation, in addition to its striking aesthetic appeal.

GroupGSA Design Lead Lisa-Maree Carrigan said the contemporary design was conceptualised in partnership with Salad Dressing, as an architectural expression to “rewild the sky”.

“The integration of the landscape into the architecture takes inspiration from the site’s rich natural history and surrounding mangrove and wetland ecosystems to create a ‘biodiversity highway’ through generous vertical greenery and sky gardens which rise above the tower,” Carrigan said.

The plans with Canada Bay Council are for a 37-level, 244-apartment tower at 9-13 Blaxland Road

Billbergia file for sustainable Rhodes apartment development

Australian developer NOVM is releasing the final collection of apartments at its billion dollar&nbsp;<a href="/buildings/woolooware-bay-475a-captain-cook-drive-woolooware">Woolooware Bay Town Centre</a> development in the Sutherland Shire.

The apartment release, dubbed The Grand Finale, will see the final apartments up for grabs in the 10-hectare precinct which started in 2014 in a joint venture with developer Capital Corporation. The remaining one and three-bedroom apartments will be spread out across four towers which topped out in July this year. The four towers will home 245 apartments in total.

Upon completion, <a href="/buildings/woolooware-bay-475a-captain-cook-drive-woolooware">Woolooware Bay Town Centre</a> will include 898 apartments and 23 commercial suites across 13 buildings. More than 2,500 residents will call Woolooware Bay home. The development will also include 10,235 sqm of waterfront parklands, a shared pedestrian/cycle path, outdoor fitness zones and a children’s playground.

<img alt="Woollooware" data-entity-type="file" data-entity-uuid="0ff86bf7-fb0f-41f1-8500-1541237a7792" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-10-11%20at%201.58.20%20pm.png?VersionId=XM0IpQGUmbkCd6GpSfwPzn8ZNIlNm3R0" />

The Bay Central Woolooware shopping centre will open trading from November 22. The centre will have 60 stores,&nbsp;including a gym, childcare centre, medical precinct, two full-line Woolworths and Aldi supermarkets, Dan Murphy’s, and a waterfront dining precinct.&nbsp;

Bay Central Woolooware will also feature a ‘Makers Market’ with local artisans from the Sutherland Shire.

The 18,000 sqm retail centre is being delivered as part of the fourth and final stage of the development, the first stage of which broke ground in 2014.

A 71-key Quest hotel, also located in Stage Four, was recently purchased by the NRL for $21.85M.

<img alt="NOVM Woollooware" data-entity-type="file" data-entity-uuid="a78cf1d7-b005-46f1-beb2-eed69361ed2b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-10-11%20at%201.58.25%20pm.png?VersionId=0jLTLQrE_t9Wuov_tGygTAk0W7maC_yL" />

Novm’s CEO and Executive Director Adrian Liaw said the opening of the centre was a key milestone in the masterplanned community’s decade-long evolution.

“We’re thrilled to be officially opening Bay Central Woolooware and we appreciate the combined efforts of Parkview, our development team, our new retail tenant community and centre managers Savills Australia for their considerable effort in bringing us to this point,” Liaw said.

“Bay Central Woolooware is more than just a shopping centre; it's a place where people can come together, shop, dine, and create lasting memories with family and friends. We invite everyone to join in the celebrations and experience the excitement first-hand."

The apartment release, dubbed The Grand Finale, will see the final apartments up for grabs in the 10-hectare precinct which started in 2014 in a joint venture with developer Capital Corporation

NOVM release final apartments in Woolooware Bay Town Centre masterplan

Bulletproof off the plan apartment developer <a href="/developers/urban-property-group">Urban Property Group</a>, who are iCIRT-rated and build all of their own projects, has just launched their first apartment project in the burgeoning Macquarie Park.

They’re producing one of the most architecturally-significant projects Macquarie Park has seen in years with La Vera, located in a prime spot opposite the Macquarie Centre at 94 Talavera Road.

[smartcode_project:default project_id=134951 project_image_fid=223723]

Award-winning COX Architecture has designed the 14-level building with the aim of marrying the building’s aesthetics with its surroundings.

COX Architecture Director Felipe Miranda says La Vera's architectural and design approach draws inspiration from its urban and ecological surroundings.&nbsp;

“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, whilst adopting an urban and anchoring form to the south facing Talavera Road and towards the CBD,” Miranda said.

[smartcode_project:default project_id=134951 project_image_fid=223719]

While being developed as a single tower, the section of the building to the north has been designed with two generous building notches that result in three distinct building shapes.

“These three forms have been designed using gentle curves on the corners of the building to ensure they have an organic feel for the residents and when viewed from the public domain.

The southern units are anchored by a red building form to the southern corner which consists of red tinted concrete.&nbsp; 
 
Miranda said the design strategy isn’t one which is just aesthetically pleasing.&nbsp;

“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,” Miranda says, adding that&nbsp; the residents living to the south benefit from the gridded building form as it allows extensive glazing so they can enjoy the magnificent views back towards the CBD.

[smartcode_project:default project_id=134951 project_image_fid=223722]

The under construction, 119-apartment project has a mix of one, two and three-bedroom apartments, an array of configurations which are expected to attract a wide variety of buyers, from first home buyers and investors to young families and downsizers.

Panoramic and unobstructed views of Lane Cove National Park will be on offer from a number of apartments, as well as the rooftop communal entertaining space.

The location of La Vera is one of the project's biggest strengths. Its strategic location positions future residents with all of the convenient amenity on the doorstep. The Macquarie Centre across the road has over 360 retailers, including a full-line Coles, Woolworths and Aldi, dozens of restaurants and cafes, and extensive entertainment options such as an Event Cinema, Strike Bowling and Macquarie Ice Rink.&nbsp;

[smartcode_project:default project_id=134951 project_image_fid=224058]

The Centre is also the hub of all bus routes that pass through Macquarie Park to the city. The Macquarie Park Metro, which connects to Epping Train Station and Chatswood Train Station, is just one street away.

La Vera sit on the northern side of the Macquarie Centre, which puts residents just across the road from&nbsp; the Lane Cove National Park and its many walking trails and hikes.&nbsp;

Construction for La Vera is already underway, with the development projected to be completed in early 2025. Timeliness of delivery is something Urban Property Group pride themselves on, and is something which is completely within their control, given they have their own construction arm.

Last year Urban Property Group was the first developer/builder in the country to acquire the Government’s 10-year Latent Defects Insurance on their Bexley project, The Parq. La Vera buyers will too have the comfort of the 10-year LDI.&nbsp;

“This sends the message that we stand-by the quality of our developments and buyers can have peace of mind beyond the point of purchase,” Urban Property Group CEO Patrick Elias says.

Urban Property Group have an enviable track record, having delivered 42 projects over three decades since being founded by Managing Director George Elias back in 1987.

[smartcode_project_cta:default project_id=134951]

La Vera represents a rare opportunity to be connected to both amenity and nature

Urban Property Group launch La Vera, Macquarie Park apartments

Joint venture partners <a href="/developers/st-hilliers-property">St Hilliers</a> and Spotlight Property Group has secured approval for their<a href="/new-apartments/711-hunter-street-newcastle-west-nsw-2302"> 711 Hunter Street, Newcastle West project</a>.

The&nbsp;Hunter Central Coast Regional Planning Panel approved the Plus Architecture-designed development, noting that it was considered to be of an appropriate scale and form for the site and the character of the locality

The new sustainable&nbsp;and culturally diverse precinct in the emerging western corner of the Newcastle CBD will comprise a&nbsp;curated ground plane experience with podium levels of retail and commercial tenancies, multi-storey food and beverage opportunities including an open-air bar, and two residential towers home to 257 apartments.

<a href="/developers/st-hilliers-property">St Hillier’s</a> Development Manager Luke McNamara said West Village is more than a residential apartment development.

“From the outset the development has committed to a significant public art programme that celebrates Newcastle’s thriving arts scene combined with a curation of ground plane tenancies," McNamara says.

"As part of the Development Consent, all retail and food and beverage offerings have a pre-approval to operate, including a three-storey venue with an open-air bar. This pre-approval will go a long way to streamlining the process for future businesses seeking to be part of the precinct.

“It was also important that the design was sustainable and ‘future-ready’, with the development committing to 90MW of rooftop solar panels and 300 electric-vehicle-ready car parking spaces, making it the first development in Newcastle to strive for 100% of future residents and commercial staff the ability to charge their vehicles. It will also feature an end-of-trip facility, and around 300 bicycle parking spaces in both secure and public areas."

&nbsp;

<a data-entity-type="file" data-entity-uuid="44575c61-c29d-4ef8-bc96-b62606108b9f" href="/new-apartments/711-hunter-street-newcastle-west-nsw-2302"><img alt="Newcastle" data-entity-type="file" data-entity-uuid="44575c61-c29d-4ef8-bc96-b62606108b9f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-10-11%20at%2012.11.07%20pm.png?VersionId=Dqi1jGxpfoa608XucHSmJ3HwZ4JXw2hn" /></a>

The approved development will also allow for the return of a large swathe of public domain back to the community at the ground plane, with an urban plaza fronting National Park Street featuring the public art precinct, and a through-site connection to the Drill Hall Gallery and Birdwood Park.

Essential to the design process by Plus Architecture was the Government Architects Design Competition process, the first of its kind for a private development in Newcastle. Other features included the incorporation of a suite of sustainability features, a ground plane allowing for a mix of creative business, designers, coffee shops, galleries, restaurants, and public art.

Plus Architecture Director Rido Pin believes that the practice’s approach will be an asset to the community.

“As Newcastle, like other regional hubs across Australia expand at pace, it’s critical that new developments are designed with their long-term future in mind and consider the varying and changing needs of their users," Pin says.

“Our two-tower design, featuring iconic sculptural curves, will create a landmark destination for the whole community – Newcastle locals and visitors alike.”

St Hillier’s Development Manager Luke McNamara said West Village is more than a residential apartment development

St Hilliers and Spotlight Property Group secure approval for Newcastle West apartment development

The leafy suburb of Malvern was initially part of the Parish of Prahran until 1856 before it was established as its own suburb.

Named after Malvern Hill in England, Malvern's development was&nbsp;primarily driven by the arrival of the railway in the late 1850s. This transportation link connected Malvern to Melbourne, leading to increased settlement and growth.

One of the significant developments in Malvern's history was the land boom of the 1880s. During this period, grand Victorian and Edwardian-style homes were built, many of which still stand today, showcasing the suburb's architectural heritage. Malvern's tree-lined streets and spacious properties attracted affluent residents.

The neighbouring Malvern East began to evolve as a separate entity in the early 20th century, however it too experienced a housing boom during the interwar period. That saw Californian bungalows and Art Deco homes developed.

The establishment of prestigious schools and institutions in the vicinity such as Caulfield Grammar School and Monash University continued to drive the family demographic. The most recent ABS Census data shows around 60 per cent of residents in Malvern and Malvern East have children.

Both <a href="/new-apartments/malvern-vic-3144">Malvern</a> and <a href="/new-apartments/malvern-east-vic-3145">Malvern East</a> have managed to preserve their historical character. There's not been an overwhelming amount of new developments in either suburb of the past decade or so.

There are currently three high quality developments currently on the market in Malvern and Malvern East, and we've put together a bio on each.

<h2>Maléa</h2>

<h3>Developer: Abadeen Victoria</h3>

<h3>Address:&nbsp;94 Burke Road, Malvern East VIC 3145</h3>

<h3>Price: From&nbsp;$2.6&nbsp;million</h3>

Luxury Sydney developer <a href="/developers/abadeen-group">Abadeen</a> has branched out into the high-end Melbourne apartment market, revealing their parkside apartment development <a href="/new-apartments/malea-94-burke-road-malvern-east">Maléa</a>, which will replace one of the last remaining homes to be redeveloped overlooking Central Park in Malvern East

Maléa, just seven apartments facing the 19-acre Central Park, is the result of a collaboration with Ewert Leaf as the architectural team behind its stoic, enduring form, featuring textural brickwork, layered concrete planes, and sleek metalwork, and John Patrick and Associates who took control of the extensive landscaping.

[smartcode_project:default project_id=141969 project_image_fid=222407]

These luxury apartments, available in two and three-bedroom configurations, feature a beautiful Calacatta Viola in the kitchen, dining area and bathroom, teamed with richer-toned porcelain slabs.

Maléa has been thoughtfully designed with sustainability in mind, aiming to achieve a minimum 6.5-star green energy rating. This commitment to environmental responsibility is evident through features like double glazing, concrete walls and floors, limited gas usage for hot water services, rainwater harvesting, solar panels, and provisions for future electric vehicle battery storage in the basement.

[smartcode_project:default project_id=141969 project_image_fid=222390]

Abadeen Victoria is being led by former CBRE Residential Projects Director&nbsp;<a href="/news/urban-ceo-mike-bird-interviews-360-propertys-john-meagher-cbres-andrew-leoncelli-about-the-property-industrys-response-to-covid-19" target="">Andrew Leoncelli</a>, who says&nbsp;<a href="/new-apartments/malea-94-burke-road-malvern-east">Malea</a>&nbsp;is the culmination of many years of experience working in this community. He says to have secured a site directly opposite Central Park, one of the very final sites in&nbsp;<a href="/developments/malvern-east-vic-3145">Malvern East</a>, is a phenomenal opportunity.&nbsp;

"It's an amazing community hub at your doorstep and where we are opposite Central Park Road, which is one of the best in all of the Gascoigne Estate, is one of the last opportunities to secure a park fronted luxury residence, and we are very excited to be bringing this to the market."

<h2>Project: Plant Street by Milieu&nbsp;</h2>

<h3>Developer: Milieu</h3>

<h3>Address:&nbsp;1 Plant Street, Malvern</h3>

<h3>Price: From&nbsp;$1.25 million</h3>

The forward-thinking, design-led developer <a href="/developers/milieu-property">Milieu</a>&nbsp;took to Malvern for their debut south-east Melbourne project,&nbsp;which they are developing alongside partners Penfold and MaxCap.

Milieu has brought together a talented team, including architecture firm RITZ&amp;GHOUGASSIAN, interior design practice Georgina Jeffries, and renowned landscape architects Acre, to create a harmonious living environment.

[smartcode_project:default project_id=139856 project_image_fid=217344]

Comprising just 21 generously-sized apartments, the design of <a href="/new-apartments/plant-street-by-milieu-malvern-1-plant-street-malvern">Plant Street</a> revolves around the concept of connecting internal and external spaces, resulting in striking, textural architecture paired with warm, inviting interiors and integrated landscaping.

The use of natural materials such as honey timber joinery, brown ash brick, terrazzo, and natural stone creates an atmosphere of warmth and welcome throughout the apartments. Custom-made lighting by Volker Haug Studio complements the material palette, adding a touch of sophistication.

[smartcode_project:default project_id=139856 project_image_fid=217345]

The landscaping at Plant Street is dynamic, with deciduous plants and trees that evolve with the seasons. Ground floor apartments feature spacious landscaped gardens, while upper-level units boast planters and terraces adorned with lush creepers.

<h2>Malvern Collective</h2>

<h3>Developer:&nbsp;Kokoda Property</h3>

<h3>Address: 2 Station Place, Malvern</h3>

<h3>Price: From&nbsp;$555,000</h3>

Malvern Collective is the under construction masterplanned development by national developer <a href="/developers/kokoda-property">Kokoda Property</a>.&nbsp;The innovative project introduces the concept of a "0-minute neighbourhood," ensuring that residents have every essential amenity right at their doorstep.

[smartcode_project:default project_id=12457 project_image_fid=217233]

Comprising over 200 one, two, and three-bedroom apartments, including a luxurious grand penthouse and sub-penthouses, <a href="/new-apartments/malvern-collective-2-station-place-malvern">Malvern Collective</a> is perched above what will be a thriving hospitality precinct. This precinct, designed to enhance community life, includes a Woolworths Metro, six distinctive hospitality venues, and a dedicated concierge service that feels like a high-end hotel experience.

One of the project's unique features is its integration with the surrounding community. It will connect with Glenferrie Road via new laneways, providing direct access to Malvern train station, making commuting a breeze.

Designed by Jackson Clements Burrows, these apartments offer breathtaking views of Port Phillip Bay, the Dandenong Ranges, and Melbourne's CBD. With over 70 percent of units sold to owner-occupiers, it's clear that people are not only drawn to the stunning design but also the superior concierge service, accessible through a dedicated residents' app. From ordering morning coffee to making dinner reservations anywhere in Melbourne, the concierge service goes above and beyond to cater to residents' needs.

[smartcode_project:default project_id=12457 project_image_fid=217246]

Malvern Collective residents will also enjoy exclusive amenities within the project, including a co-working space, a cinema, a swimming pool, a wellness center with hot and cold plunge pools, and a private dining area – all bookable through the residents' app. The concierge will also collaborate with local businesses to offer services such as housekeeping, laundry, and even dog washing.

We've taken a look at the top three off the plan apartment developments selling in Malvern and Malvern East

How Malvern and Malvern East has preserved its historical character

The family-ran SASCO Developments is planning a striking new mixed-use building in Randwick.

SASCO, led by Sid and Joseph Sassine, has filed plans for a Curzon+Partners-designed building at 18-20 Perouse Road, at the south end of the Randwick High Street just off the popular restaurant precinct The Spot.

The plans are for a four-level project with two retail tenancies on the ground floor and seven three-bedroom apartments above. Two basement levels will contain 17 car parking spaces, one motorcycle space and six bicycle parking spaces.

<img alt="Randwick" data-entity-type="file" data-entity-uuid="7aafb9a8-c746-4c90-a4da-7316ca8c280c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-10-10%20at%202.38.18%20pm.png?VersionId=GybUoILrB9JxduJw_ZFRPRTsM7eKhGd8" />

Curzon+Partners Principal Mark Curzon said in the Design Verification Statement attached to the application that the new development has&nbsp;been designed to fit into its medium density and mixed use residential and retail urban setting, unique topography and heritage context.

"The site is located within The Spot, which includes a diverse streetscape with historic significance dated from the Inter-War period," the submission noted.

"The new Living Units has been designed to fit into a medium density mixed use residential and retail setting. The design has recognised its unique topography and environmental context and has been sympathetic to its context by breaking the mass to follow the street rhythms and scales, thereby addressing the relationship of the proposed built form with it’s surroundings.

"The proposal overall integrates well with the surrounding environment." 
 
<img alt="SASCO" data-entity-type="file" data-entity-uuid="63f6bbb3-0e91-4151-a9f7-8dc359c9cd58" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-10-10%20at%202.38.53%20pm.png?VersionId=pMBCDgrktSQd45NVE.8VehHYHEF4pRL." />

They said the materials have been&nbsp;carefully selected to celebrate the local heritage context with the use of bricks, aluminium battens and cladding and landscaping to enhance the design quality and longevity.&nbsp;

The main entry to the apartments and the car parj is located the quieter Soudan Street. The apartments start at 120 sqm and they each have a balcony space.

In recent years SASCO, founded in 2001, have been busy in Meadowbank, a harbourfront suburb near Ryde.

They have approval for a significant mixed-use precinct near the Meadowbank Train Station. They're soon to launch the Fender Katsalidis-designed development with 133 apartments, 162 co-living apartments, and a number of built to rent apartments on a vast 7,800 sqm site.

They've also got a retail and commercial centre with more build to rent apartments in the same neighbourhood.

SASCO also have another site in Randwick, having acquired two side by side properties nearby on Magill Street in the last few years to give them 1252 sqm.

The plans are for a four-level project with two retail tenancies on the ground floor and seven three-bedroom apartments above

First look: New shop-top housing planned for Randwick

Artarmon, the affluent suburb on Sydney's Lower North Shore, is set to receive a rare new off the plan apartment development.

Plans have been filed with the Willoughby Council for a shot-top housing development at&nbsp;64 Hampden Road, across the road from the Artarmon Train Station.

The $8.65 million project with 18 apartments above a commercial space will replace an old commercial building which has stood on the site for around five decades. It is currently home to an Australia Post office.

<img alt="Artarmon" data-entity-type="file" data-entity-uuid="2df72d35-f172-4903-b51e-d597fd1f6dd4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-10-10%20at%2012.27.02%20pm.png?VersionId=8TbXnlafbVxdrS1fym9KPee2Xl_27fgd" /> 
The current AusPost building on the corner of Hampden and Jersey Road.

The one and two-bedroom apartments will be spread across two five-level buildings at the southern end of the Artarmon ton centre.

SJB noted&nbsp;a substantial amount of mature canopies along the rail corridor, on Jersey Road, and as a setting for the residential towers. They said the proposal responds to the context and neighbourhood by creating a&nbsp; two-storey fine grain podium that establishes a relationship with the two storey shopfronts in the town centre.

"The massing and built form responds to the existing town centre, the desired future character of the area, the new LEP and the surrounding context," SJB's Design Report noted.

"The five-storey scale is consistent with the new LEP controls recently gazetted."

<img alt="Artarmon" data-entity-type="file" data-entity-uuid="a0e70d9d-7440-43a7-90c0-23596e0a2218" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-10-10%20at%2012.28.25%20pm.png?VersionId=kc5leeMhCAk0LCZTvq4Y_IJuNa0CaL8C" />

The new LEP (Local Environment Plan) SJB refers to was recently put in place by the Willoughby Council which saw "appropriate increases in building height and size" in the local centres of Artarmon, North Willoughby, Naremburn, Castlecrag, Northbridge, Penshurst St and Willoughby South. The aim is to "encourage new local jobs and housing diversity close to services and transport," the council advised.

"This density and scale is appropriate for the location, the site is within a town centre and 100m from a train station," SJB added.

They suggest the site has access&nbsp;to excellent amenity, with the train line opposite taking just one minute to get to Chatswood and 15 minutes to the city. It's also a walk to shops in the town centre,&nbsp;250 metres from the local public school and 300 mertres from a number of local parks.

Plans have been filed with the Willoughby Council for a shot-top housing development at 64 Hampden Road, across the road from the Artarmon Train Station.

First look: Rare shop-top housing development planned for Artarmon

The Sydney unit market continues to tick along in 2023, with growth of unit values only bettered by Brisbane over the year.

September saw another month of growth for Sydney units, which incorporates both apartments and townhouses, according to property data analytics firm CoreLogic's Monthly Hedonic Home Value Index.

Values grew 0.9 per cent, following one per cent gains in August and 0.7 per cent in July. Sydney unit values now sits at a median $829,000, rising by 7.5 per cent over 2023.

Read more:<a href="/news/nsw/city-beat-august-2023-downsizers-fuel-sydneys-off-the-plan-apartment-market">&nbsp;City Beat August 2023: Downsizers fuel Sydney's off the plan apartment market</a>

CoreLogic’s research director, Tim Lawless said&nbsp;Australia’s housing recovery remains entrenched, with national dwelling values only 1.3 per cent off record highs. He said the outlook for housing values remains positive, albeit with some risks of a slowdown.&nbsp;

"Advertised supply levels are arguably the most important facet of the market to watch over the coming months," Lawless says.

"An acceleration in the flow of new listings is a normal feature of spring and early summer, however, if this trend continues we are likely to see buyers benefitting from more choice, less urgency and greater leverage to negotiate."

<h2>What's happening in the Sydney off the plan market?</h2>

Sydney is starting to see some projects get launched to the starved off the plan apartment market. There's also been some notable development applications and approvals in the last month or so, particularly in Chatswood, which will eventually help the Sydney apartment market supply in the future.

Prolific Sydney developer Urban Property Group recently launched La Vera, their first apartment project in Macquarie Park.

Designed by award-winning COX Architecture, La Vera has 119 apartments across 14 levels. It's been designed to attract a wide variety of buyers, from first home buyers and investors to young families and downsizers.

[smartcode_project:default project_id=134951 project_image_fid=223717]

Chief Executive Patrick Elias says they were in the market as soon as development approval was given, with demand far outstripping supply across Sydney.

"The lack of supply across Sydney has seen sales momentum remain incredibly consistent over 2023, with an uptick in recent months at our Bexley project Parc," Elias says.&nbsp;

"Developers who can get into a position with development approval and firm construction costs should be in the market. While supply levels are low, it is still critical for developers to create something which sets itself apart from other developments in the area."

Buyers at La Vera will also have the assurance of the NSW Government's LDI insurance scheme, which not many developments have. Urban Property Group were the first developer in New South Wales to have the defect insurance, at their Bexley project.

"This sends the message that we stand-by the quality of our developments and buyers can have peace of mind beyond the point of purchase," Elias adds.

Urban Property Group just secured approval to develop apartments in Little Bay which they will launch in early 2024.

[smartcode_project:default project_id=134951 project_image_fid=223723]

Toohey Miller has too brought something new to the market.

They've just launched No.1 Onslow Place in Elizabeth Bay, a collection of just six full-floor apartments on the dress circle Onslow Avenue.

Toohey Miller Founder Nick&nbsp;Couloumbis says the market has responded incredibly well to the project.

"We’ve received over 1,000 enquiries before its upcoming official launch, which is significant given there’s just six full-floor apartments,"&nbsp;Couloumbis says.

[smartcode_project:default project_id=141600 project_image_fid=219760]

"Buyers have reacted to the rarity of full floor apartments in Elizabeth Bay, something which hasn’t been produced in years. It’s difficult to get approval for this kind of development."

Couloumbis says the majority of enquiry has come from downsizers, from locals to those looking to downsize from the wider eastern suburbs and lower north shore.

"There’s still a lot of buyers in the luxury market,"&nbsp;Couloumbis says.

Sydney is starting to see some projects get launched to the starved off the plan apartment market

City Beat September 2023: Sydney's off the plan apartment market starts to see increase in supply

Newly launched Sydney-based development company PERIFA is teaming up with established developer Abadeen to create a 15,870 sqm waterfront precinct in Putney.

The 20 Waterview Street project, dubbed Pier 20, is set to see the Halvorsen’s boatshed refurbished to create a waterfront dining and commercial precinct, two three-level apartment buildings constructed, 18 three-level townhouses, and a 36-berth marina.

Within close proximity to Putney Village, Pier 20 offers immediate access to major retail amenities and on-foot access to ferry stops, trainlines and local parks.

The partnership between PERIFA, part of established parent company Versatile Group, and Abadeen, whose portfolio has predominantly been focused on high-end residential projects across the north shore,&nbsp;is being backed by equity partners Mitsubishi Estate Asia Pte. Ltd and Phoenix Property Investors.

<img alt="Pier 20" data-entity-type="file" data-entity-uuid="bc5d4b5a-32b9-4b7e-b28b-b1a74f55a952" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-01%20at%2010.51.08%20am.png?VersionId=03pjev33FjwANJThiw_18906olCzavOS" />

Fabrizio Perilli, Co-Founder of PERIFA and Managing Director of Versatile Group, said Pier 20 offers an extraordinary opportunity to restore and adaptively reuse the heritage-listed buildings, ensuring the site’s past is celebrated and reinvigorated as a buzzing location for the community to enjoy.

“Our partnership with Abadeen supported by Mitsubishi Estate Asia and Phoenix Property Investors will allow us to transform this unique site into a premium mixed-use development, with retail, dining and residential on Sydney’s harbour front,” Perilli said.

“Having significant experience in the adaptive reuse of heritage buildings, we are excited to be part of this important restoration for Putney.”

<img alt="Perifa" data-entity-type="file" data-entity-uuid="a93f1048-4742-43d1-bdb6-8a728b092a12" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-01%20at%2010.53.17%20am.png?VersionId=hJQXJShVOOPME.0f5FjzUI7fk9Jwui_K" />

Joe Tack, Abadeen's Chief Operating Officer, said the acquisition represents a rare opportunity to regenerate a significant infill site with 300m of water frontage.

“We are confident that the mix of townhouses and apartments, together with a curated food and beverage and a new marina will be a unique offering when the project is brought to market in 2024,” Tack said.

“We’ve known the executive team from PERIFA for a long time and are looking forward to bringing the combined expertise together to deliver an exceptional outcome for the community.”

<img alt="Perifa" data-entity-type="file" data-entity-uuid="8a777263-e598-4edf-bc1b-64e62d9522a5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-01%20at%2010.53.25%20am.png?VersionId=BN7UKMFK9I2VWD9URyubat14247C3LLn" />

Yuzo Nishiyama, Head of Australia, Mitsubishi Estate Asia Pte. Ltd., said the Pier 20 project marked the beginning of a successful partnership with PERIFA.

“In the Australian market, and especially in Sydney, we know there’s ongoing demand for premium accommodation in waterfront locations, especially when there are amenities and entertainment on the doorstep,” Nishiyama said.

“Our investment into Pier 20 marks the beginning of our relationship with PERIFA, and we are excited by the opportunity to joint venture the development with Abadeen and Phoenix Property Investors, and we look forward to combining our shared global and local experience and capability to deliver this unique development in NSW.”

Pier 20 is expected to be completed by FY27, with a total development cost of $240 million.

Joe Tack, Abadeen's Chief Operating Officer, said the acquisition represents a rare opportunity to regenerate a significant infill site with 300m of water frontage.

PERIFA and Abadeen to create Putney waterfront precinct, Putney Wharf Residences

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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