Brisbane apartment values spiked 1.3 per cent over October, posting its second highest monthly returns of 2021, CoreLogic&#39;s Hedonic Home Value Index found.

The continued growth sees Brisbane&#39;s apartment values rise 3.3 per cent on a rolling quarterly average, following 0.6 per cent gains last month and 1.4 per cent growth over August.

Apartment values ended 2020 at $390,000. Now the median apartment value is $437,000, up 9.7 per cent year to date.

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Brisbane&#39;s rental increase has also been one of the highest in the country, up 2.3 per cent over the last three months, only second to Sydney where rents rose 2.4 per cent.

Overall Brisbane was the fastest growing market over October, with values up 2.5 per cent across the combined house and unit markets.

It was another month in Brisbane where the price gap between houses and units grew further. Houses saw 2.8 per cent gains, more than double the rate of growth for units.

&nbsp;

&ldquo;As housing becomes less affordable, we expect to see more demand deflected towards the higher density sectors of the market,&quot; CoreLogic&#39;s research director, Tim Lawless, said.&nbsp;

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&quot;House prices continue to outpace wages by a ratio of around 12:1,&quot; Lawless noted.

&quot;This is one of the reasons why first home buyers are becoming a progressively smaller component of housing demand.&quot;

Lawless&nbsp;expects the flick to higher density&nbsp;to occur most prevalently&nbsp;in Sydney than anywhere else in the country. The gap between the median house and unit value is now nearly $500,000. In Brisbane it&#39;s around $300,000. Melbourne&#39;s house median was $731,000 after the 2.8 per cent October gains.

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&quot;With investors becoming a larger component of new housing finance, we may see more demand flowing into medium to high density properties,&quot; Lawless added.

&quot;Investor demand across the unit sector could be bolstered as overseas borders open, which is likely to have a positive impact on rental demand, especially across inner city unit precincts.&rdquo;

&nbsp;

Apartment values ended 2020 at $390,000. Now the median apartment value is $437,000, up 9.7 per cent year to date

Joel Robinson

Brisbane apartment insights: What happened to Brisbane apartment prices over October?

Sydney apartments values continued their strength&nbsp;over October, posting 1.2 per cent gains over the month to now be 14.5 per cent over the calendar year,&nbsp;according to the monthly Hedonic Home Value Index by CoreLogic.

The gains follow 1.4 per cent growth in August and 1.6 per cent in both June and July.

Over 2020, values were down -0.2 per cent.

The median has now jumped over $100,000 since the start of the year, when the median apartment value was $733,000. Now it&#39;s $837,000.

[smartcode_project:default project_id=7758 project_image_fid=150461]

CoreLogic&#39;s research director Tim Lawless believes Sydney will see the highest trend toward high density living compared to the other capitals, as the gap between the median apartment value and median house value rises to over $500,000. (Sydney&#39;s median house value is now $1.33 million, up 1.6 per cent over October).

&ldquo;As housing becomes less affordable, we expect to see more demand deflected towards the higher density sectors of the market,&quot; CoreLogic&#39;s research director, Tim Lawless, said.&nbsp;

&quot;House prices continue to outpace wages by a ratio of around 12:1,&quot; Lawless noted.

&quot;This is one of the reasons why first home buyers are becoming a progressively smaller component of housing demand.

[smartcode_project:default project_id=7758 project_image_fid=150450]

&quot;With investors becoming a larger component of new housing finance, we may see more demand flowing into medium to high density properties,&quot; Lawless added.

&quot;Investor demand across the unit sector could be bolstered as overseas borders open, which is likely to have a positive impact on rental demand, especially across inner city unit precincts.&rdquo;

Sydney has seen the largest rise in rents over the last three months, up 2.4 per cent, followed&nbsp;by Brisbane, regional Queensland and regional New South Wales (all up 2.3 per cent).

The median has now jumped over $100,000 since the start of the year, when the median apartment value was $733,000. Now it's $837,000

Sydney apartment insights: What happened to Sydney apartment prices over October?

Melbourne apartments values spiked over October, performing&nbsp;as well as the city&#39;s house market&nbsp;over the month, according to the monthly Hedonic Home Value Index by CoreLogic.

Apartment values rose one per cent, their highest rise since CoreLogic&#39;s May report, when there was one per cent gains over the April

Melbourne&#39;s rolling quarterly gains are now at 1.7 per cent,&nbsp;following 0.2 per cent gains over September and 0.5 per cent over August.

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Across 2020, Melbourne apartment values were flat, and so far in 2021 they&#39;ve grown 7.8 per cent, to a new median $621,000. The median at the start of the year was $576,000.

It&#39;s another month of gains for Melbourne apartments, which haven&#39;t seen a decline in 2021 despite the continued shutdown of immigration due to border closures.

The narrowing gap between house and unit performance comes as house affordability reaches record levels. Over October, that gap only widened across Sydney and Brisbane, with all the rest of the capitals seeing units either perform better, or the same, as houses over the period.

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&ldquo;As housing becomes less affordable, we expect to see more demand deflected towards the higher density sectors of the market,&quot; CoreLogic&#39;s research director, Tim Lawless, said.&nbsp;

&quot;House prices continue to outpace wages by a ratio of around 12:1,&quot; Lawless noted.

&quot;This is one of the reasons why first home buyers are becoming a progressively smaller component of housing demand.&quot;

[smartcode_project:default project_id=1260 project_image_fid=177965]

Lawless&nbsp;expects the flick to higher density&nbsp;to occur most prevalently&nbsp;in Sydney than anywhere else in the country. The gap between the median house and unit value is now nearly $500,000. In Melbourne it&#39;s around $350,000. Melbourne&#39;s house median was $972,000 after the one per cent October gains.

&quot;With investors becoming a larger component of new housing finance, we may see more demand flowing into medium to high density properties,&quot; Lawless added.

&quot;Investor demand across the unit sector could be bolstered as overseas borders open, which is likely to have a positive impact on rental demand, especially across inner city unit precincts.&rdquo;

National rents were up 0.7 per cent&nbsp;in October, roughly equivalent to the September&#39;s 0.6 per cent rise.

Apartment values rose one per cent, their highest rise since CoreLogic's May report, when there was one per cent gains over the April.

Melbourne apartment insights: What happened to Melbourne apartment values over October?

The view from residential developers&nbsp;is that the apartment market in the Sydney CBD is more on trend and in demand than it has been in a number of years.

Adrian Pozzo, the chief executive at CBUS Property,&nbsp;says the&nbsp;CBD is set to evolve post the pandemic disruptions, with the nature of the developments being constructed and in planning dominated by mixed-use towers.

&quot;The mixed-use nature of the city has seen distinct precincts evolve, each with their own cluster of businesses and cultural, educational and entertainment precincts,&quot; Pozzo says.

At the heart of the CBD apartment pipeline is Castlereagh Street, the 1.6 kilometre long major strip which runs from Central Station toward the business precinct, stopping just shy of the harbour.

Developers have taken to the small pocket around Hyde Park, almost between St James and Museum Station.

There&#39;s a number of projects currently under construction, and a solid pipeline on the desks of the City of Sydney council.

The first project to be completed will be Castle Residences, the mixed-use hotel and apartment tower at 203 Castlereagh Street which is slated for completion in December.

[smartcode_project:default project_id=7758 project_image_fid=79424]

The first Australian project by Shanghai United, Castle Residences have been built above the heritage Porter House, which is being retained as a luxury lobby entry.

There are 131 apartments and around 122 hotel rooms, with the hotel to be operated by AccorHotels.&nbsp;Residents at Castle Residences will get all of the perks of being a hotel guest, such as a the 24 hour concierge, room service, housekeeping and even valet parking.

[smartcode_project:default project_id=7758 project_image_fid=150450]

Up the street and currently under construction is Cbus Property&#39;s&nbsp;111 Castlereagh Street, set to be a landmark in the CBD for years to come.

The striking tower, designed by fjmt studio and built atop the former&nbsp;David Jones&nbsp;department store which was originally built in 1938,&nbsp;has 101 apartments, most with views over Hyde Park.&nbsp;

Part of the development will see the David Jones component converted in to 11,500 sqm of office space, as well as a 6,200 sqm extension of Westfield.

[smartcode_project:default project_id=94354 project_image_fid=170431]

Colliers Residential Managing Director Peter Chittenden, who has been handling the sales at 111 Castlereagh Street,&nbsp;says the apartments have been designed with ample space and connection to the outdoors, which are now top priorities for Australians.

&quot;There has been strong buyer interest very much around the quality of the development and construction team, the iconic architectural building and the central CBD location&rsquo;s liveability with shopping and dining along with the expansive views spanning across Hyde Park and beyond to Sydney harbour,&quot; Chittenden says.

&quot;The prominent buyer demographic has been local Sydneysiders from the Eastern Suburbs and Lower North Shore, looking for a primary residence along with interest from regional NSW where buyers are looking for a city base&nbsp;for when they are visiting and doing business in Sydney.&quot;

Apartment residents will have access to a rooftop with a pool, gym and gardens. Construction is underway, with completion expected in Q3 2023.

[smartcode_project:default project_id=94354 project_image_fid=170426]

Across the road from 111 Castlereagh Street is set to be another impressive mixed-use development.

Last year the alternative asset manager Fife Capital, led by Allan Fife, submitted plans for a 17-level tower to&nbsp;sit alongside a heritage-conscious redevelopment of the George Bosch Chambers and St James Hotel&nbsp;building that has stood since the 1920s.

The development of two lots,&nbsp;114-120 Castlereagh Street and 139 Elizabeth Street, will see just 26 apartments built, only starting from level 10, with the rest of the building being commercial. There will be&nbsp;a mix of one, two and three-bedroom units and a two-level, four-bedroom penthouse on levels 15 and 16.

<img alt="" height="789" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/castle_main_1200.jpg" width="1200" />

The majority of the units will face the park, with some facing Castlereagh Street and the lower levels facing Elizabeth Street and will contain wintergreens.

A landscaped communal open space has been designed above the commercial building at level 10.&nbsp;The roof terrace provides communal facilities including BBQ area, outdoor dining and recreation areas.

And the most recent lodgement comes from Central Element, who are seeking to build a $100 million tower on the fringe of Hyde Park where the 16-storey Hyde Park Inn hotel currently sits.

<img alt="" height="373" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/central_elementh_hyde_park.png" width="662" />

It&#39;s another amalgamation of sites on Castlereagh Street and Elizabeth Street, the latter which runs parallel to Hyde Park.

They&#39;ll be amalgamated&nbsp;two lots at 262-266 Castlereagh Street and 271-279 Elizabeth Street, planning for three retail tenancies on the upper and lower ground floors, with 53 apartments above.

The subject sites are currently occupied by a vacant four-storey commercial building as well as the&nbsp;16-storey Hyde Park Inn hotel.

At the heart of the CBD apartment pipeline is Castlereagh Street, the 1.6 kilometre long major strip which runs from Central Station toward the business precinct, stopping just shy of the harbour.

What Sydney's Castlereagh Street will look like in five years

Construction has started on the Brisbane riverfront apartment building, Rivello, in Northshore Hamilton, which has seen over&nbsp;90 per cent of apartments sold for more than $133 million in just 10 weeks.

The sales rush has been led by owner-occupiers, including young professionals and downsizers, many of whom live within a 10-kilometre radius.

Interstate purchasers looking to relocate or invest in the Queensland have made up around 10 per cent of the sales.

More than 1,000 jobs will be created during construction of the $149 million, 21-storey building, which will home 150 apartments and a suite of resort-style amenities, including a roof-top infinity-edge pool with expansive views across the Brisbane River to the CBD.

[smartcode_project:default project_id=102922 project_image_fid=171473]

Developer Brookfield Residential Properties has appointed builder Tomkins Commercial and Industrial Builders - who have delivered more than 300 projects across the residential, commercial, industrial and education sectors - to construct the mixed-use development, with completion anticipated for late 2023.

Rivello is the latest stage of Brookfield&rsquo;s activities in the Northshore Hamilton Priority Development Area (PDA), situated six kilometres from the Brisbane CBD, and the ninth building by Brookfield Residential Properties in the Portside residential and lifestyle precinct.

Brookfield Residential Properties Managing Director, Lee Butterworth, said the outstanding sales result had seen construction start on Rivello several months ahead of schedule.

&ldquo;The response to Rivello has been exceptional, with sales including an ultra-opulent penthouse for more than $5.5 million, two sub-penthouses for more than $2.9 million each and the majority of our three bedroom apartments, which average $1.5 million,&rdquo; he said.

[smartcode_project:default project_id=102922 project_image_fid=174005]

&ldquo;Those sales are a vote of confidence from the top end of the market in Rivello and we&rsquo;ve seen an equal level of enthusiasm from purchasers across our one and two bedroom apartments, with only a handful of floorplans now remaining, with river, park or local views still on offer.

&ldquo;We are looking forward to moving into the next phase of Rivello, by bringing our vision to life. To be able to accelerate the start of construction is a fantastic result, not just for our purchasers but the 1,000 workers who will be employed in constructing this exciting project.&rdquo;

Butterworth said the start of work on Rivello was also a significant milestone for the broader Northshore Hamilton precinct, where Brookfield Residential Properties had been developing since 2006.

&ldquo;We&rsquo;ve been part of the major transformation of Northshore for over 15 years, delivering the Portside Wharf dining, shopping and entertainment precinct as well as more than 850 riverside apartments, and look forward to continuing to be part of the area&rsquo;s evolution for many years to come.&rdquo;

Economic Development Queensland General Manager Debbie McNamara said the project marks another milestone in Northshore&rsquo;s transformation.

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&ldquo;I am proud of Economic Development Queensland&rsquo;s continued investment in infrastructure to revitalise the Northshore Hamilton PDA, which paves the way for projects like Rivello,&rdquo; she said.

&ldquo;Rivello will be yet another reason for people to enjoy Northshore, which is home to Portside Wharf, Eat Street Northshore, Alcyone Hotel, and some of Brisbane&rsquo;s best riverfront living.&rdquo;

Butterworth said Northshore Hamilton continued to be in high demand due to its premium, riverfront location.

&ldquo;There are very few opportunities to purchase a new apartment on the Brisbane River, particularly within six kilometres of the Brisbane CBD, which makes Northshore a highly sought-after locale,&rdquo; he said.

&ldquo;Northshore is a popular lifestyle choice because of the extensive mix of dining, shopping and entertainment in the precinct and the ease of access via CityCat or road to an array of destinations. The feedback from buyers at Rivello is that these factors certainly underpinned their decision to secure an apartment.&rdquo;

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The sales rush has been led by owner-occupiers, including young professionals and downsizers, many of whom live within a 10-kilometre radius

Construction begins on Rivello, Brisbane apartments, as sales hit 90%

The Brisbane-based Pikos Group are set to launch its next apartment project, a striking collection of three towers in the affluent suburb of Kangaroo Point.

The first release of Lambert Street Apartments, to be developed on one of the last remaining vacant sites overlooking the Brisbane River, will see 75 apartments up for grabs, with strong enquiry already fielded by the Pedro Pikos-led developer.

There will be three towers as part of the Lambert Street Apartments, designed by Conrad Gargett Architect and oriented to look across the river to New Farm.

<a href="/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point">To keep up to date with the development and its launch, enquire here</a>

&ldquo;Lambert Street represents the final chance for a new generation of luxury to rise in Kangaroo Point &ndash; there are no other developable sites left in the area,&rdquo; Pikos said.

<img alt="" height="856" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/stage_1_pikos_lambert_st.jpg" width="604" /> 
The first of the three towers

&ldquo;Interstate developers have been desperately trying to get their hands on developable land in Kangaroo Point, but they&rsquo;re a little too late to the party.

&ldquo;We have always had a huge affinity for Kangaroo Point and this project will present a vanishingly rare opportunity to secure a riverfront residence drenched in the trademark Pikos luxury-touch.&rdquo;

The project is set to rise opposite the highly successful&nbsp;Argyle New Farm, which has underpinned the strength of the central Brisbane market, securing 90 per cent&nbsp;of its sales for $7.75 million, and a penthouse sale at $15.4 million.

<img alt="" height="1672" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/stage_2_pikos_lambert_st.jpg" width="1200" /> 
One of the later release towers

&ldquo;Our appartments will enter the market at a tenth of the price of the Argyle, without compromising on quality or vistas, which is remarkable value for buyers seeking a more affordable entry to riverside living,&rdquo; Pikos added.

Kangaroo Point is one of Brisbane&#39;s most sought-after and tightly held markets for houses and apartments, with little high-rise stock in the pipeline or recently completed.

<a href="/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point">To keep up to date with the development and its launch, enquire here</a>

Gap Development Sales Director Grant Plummer, who is handling the marketing, said there&#39;s been incredible levels of demand already.

<img alt="" height="1526" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/stage_3_pikos_lambert_st.jpg" width="1200" /> 
Another render of one of the future releases

&ldquo;Kangaroo Point is the location with it all &ndash; it&rsquo;s got proximity, panoramas, and a captivating charm which has cemented it as the pinnacle of city living for the luxury owner occupier market,&rdquo;&nbsp;Plummer said.

&ldquo;The diminishing opportunity for new product in such a coveted location has resulted in an incredible level of demand which we are excited to satiate with our spectacular Lambert Street collection.&rdquo;

Lambert Street is being modelled with the same finishes as Pikos&#39;s&nbsp;Skye apartments, located on just across the bend.

<a href="/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point">To keep up to date with the development and its launch, enquire here</a>

There will be three towers as part of the Lambert Street Apartments, designed by Conrad Gargett Architect and oriented to look across the river to New Farm

Pikos Group set to launch La Storia, first stage of Lambert Street Apartments in Kangaroo Point

The architect-turned developer, Joe Adsett, has submitted plans for his&nbsp;next South East Queensland residential apartment development.

Adsett, who secured a sell-out at his Rockpool, Rainbow Bay project&nbsp;earlier this year, has ventured to the affluent and tightly held waterfront of Kangaroo Point, where he's&nbsp;set to create a&nbsp;luxury $85 million, 15-level tower.

Named River Arc for its location on the curve of the Brisbane River at 44 O'Connell Street, the project will home just 14 luxe apartments, set&nbsp;on one of the last north-east facing, absolute riverfront development sites.

Adsett said to differentiate, they went with a lower density on the 1,186 sqm site, which would typically yield 75 apartments.

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“As a practice specialising in luxury residential architecture, we have seen incredible growth in the Brisbane super prime residential market," Adsett said.

"We believe the market has quickly matured to the point it will accept a project of this nature and to that end we have readily chosen to under develop the site from its potential density to focus on a boutique one per floor offering.”

Each of the apartments will benefit from expansive river views and range in size from 300 sqm&nbsp;to 550 sqm. The exclusive development offers residents a unique opportunity to directly access the water via private moorings.

"The site is uniquely positioned on a north-eastern bend of the river and we designed the building to cantilever towards the river edge.

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"The cantilever is achieved by our design of an external concrete structural veil, which integrates the wall and floors into one uniform structure. The structure is not only supporting the building; it also acts to create large column free spaces which open to the water. The structure also curves to create large eaves around the building which reduce the heat load on the glass and provide acoustic attenuation between the levels.

"In addition, it allows protection from driving rain and&nbsp;reduces wind gusts up the vertical face of the high rise. The design of the facade curves and arches to become an object of beauty in its own right, and in turn forms the iconic look of the building.

<img alt="" data-entity-type="" data-entity-uuid="" height="2000" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/river_arc_kangaroo.jpg" width="1200" />

The riverfront is dedicated to an abundance of tiered landscaping and communal amenities, providing a sanctuary for residents whilst giving back to the river ecosystem. An existing mature Flooded Gum tree is maintained by the development, preserving the natural features of the site.

The site is set to benefit from a multitude of Brisbane’s future infrastructure investment with the anticipated Riverwalk extension from Mowbray Park, Kangaroo Point Green bridge, Cross River Rail precinct, Gabba redevelopment, and local ferry terminal upgrades.

Earlier this year the popular architect secured a sell-out of his first development on the Gold Coast, the luxury Rockpool at Rainbow Bay.

Adsett said to differentiate, they went with a lower density on the 1,186 sqm site, which would typically yield 75 apartments.


Exclusive: Joe Adsett reveals River Arc, Kangaroo Point apartment development

The Melbourne developer Sunkin Property Group&nbsp;has been given the green light to transform the former CRISO site in Highett into a $500+ million residential precinct that will have a focus on urban renewal, sustainability, nature, and town centre connectivity.

Sunkin seeks to provide a range of dwelling typologies to meet housing demand from singles, couples and families and improve housing diversity in the area.

With a focus on a connected community and urban renewal, the proposed development will benefit from the close proximity of Highett Train station, Highett Town Centre and have a significant positive impact; supporting the local economy, generating new jobs in the area.

Some four hectares of parkland will surround the 9.34 hectare site which will include&nbsp;a new public park and conservation reserve. A new public library is also proposed to be provided by Sunkin on site for the benefit of the community, as well as a Maternal and Child Health Centre, and the undergrounding of overhead HV power lines along Graham Road.

<a href="/new-apartments/highett-common-37-graham-road-highett-vic-3190">To receive the next update and sales launch of Park Village, enquire here</a>

Central to the development is its focus on connectedness and walkability, with common and public spaces between the built form providing opportunities for neighbours to connect. This is further enhanced via integrated wellness and fitness facilities, including a resident&rsquo;s gym and pool, as well as cafes to activate the park setting.

Sunkin Property Group General Manager Development Lloyd Collins said he&rsquo;s thrilled to have received development approval from Bayside City Council.

&ldquo;Throughout the development application process we really listened to the community and as a result, we received a number of suggestions and great ideas that were included in our proposed amendments to the development plan approval,&quot; Collins said.

&ldquo;We are incredibly excited to deliver a project such as this for the wider community, which not only provides new public amenities and open space, but will have a significant positive impact on the local economy in terms of job opportunities and supporting local businesses.

<a href="/new-apartments/highett-common-37-graham-road-highett-vic-3190">To receive the next update and sales launch of Park Village, enquire here</a>

&ldquo;We are delighted that council has approved this development plan and we look forward to continuing to work in partnership with council and the wider community to deliver this much needed development. We are seeing pent-up demand within the Bayside area and believe our park setting and connection to the station and vibrant town centre retail will be highly attractive to local buyers.&rdquo;

Within walking distance to Highett train station, the ClarkeHopkinsClarke designed development is set to bolster the Victorian economy, generating 280 jobs per annum during construction, and once complete, will support Highett local traders with $50 million per annum expenditure by 2032.*

Sunkin seeks to provide a range of dwelling typologies to meet housing demand from singles, couples and families and improve housing diversity in the area

Sunkin secure approval for $500 million Highett residential precinct

The soon-to-be national property developer, Crown Group, has unveiled its penthouse collection across two of its Sydney apartment developments.

The architecture-led penthouses in Crown Group&#39;s&nbsp;Mastery by Crown Group and Waterfall by Crown Group developments are being pitched at potential onshore and offshore investors, now New South Wales is allowing quarantine-free travel.

Iwan Sunito, Crown Group co-founder and group chief executive, said, despite the COVID-19 outbreak, Asian investment in Sydney remains very strong.

&ldquo;Compared with many global cities, Sydney offers stronger growth prospects for property owners; backed by a stable government, strong education market and a demand for housing which outstrips supply.&rdquo;

This year, the Crown Group buyer pool is made up of a mix of offshore and onshore investors, with demand from the Asian market holding up despite travel restrictions.

Crown Group tapped in to the work-from-home trend, pivoting toward&nbsp;flexible floor plans and internal and external living areas, along&nbsp;with resort-style amenities and communal landscaped gardens.

The completed penthouse in the Waterfall by Crown Group apartment development in Waterloo spans two levels and has three bedrooms across its 147 sqm of living space. There&#39;s a balcony over 40 sqm, and a private rooftop with city skyline views.

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Waterfall by Crown Group is a $400 million master-planned development comprising 331 apartments across three eight-storey buildings and one 22-storey tower, which is home to the highest man-made waterfall in the southern hemisphere.

Inspired by the tropical landscape of Indonesia&rsquo;s Kalimantan and developed in conjunction with award-winning SJB Architects, Waterfall is a veritable rainforest in the heart of the city, offering access to tranquil gardens, a cantilevered gym, rooftop infinity pool, 49-jet jacuzzi for up to 16 people, outdoor cinema and music and function rooms.

Down the road is Crown&#39;s Mastery by Crown Group development in Green Square, a&nbsp;cluster of five newly completed buildings offering a total of 368 luxury apartments and anchored by a 19-storey, timber-clad tower featuring three exclusive penthouses.

Designed by&nbsp;Japanese architect Kengo Kuma, who recently designed the 2020 Olympic Stadium in Tokyo and the internationally acclaimed V&amp;A museum in Dundee, Scotland, the tower forms part of a rare collaboration of three renowned architectural firms: Kengo Kuma; established Sydney architects Silvester Fuller; and Koichi Takada Architects, who created sophisticated Japanese-inspired interiors with a generous use of natural materials.

[smartcode_project:default project_id=7020 project_image_fid=173694]

Part of the exclusive Penthouse Collection are&nbsp;three architecturally-designed penthouses in Kengo Kuma&rsquo;s cantilevered tower. Offering between 150 sqm to&nbsp;171 sqm of outdoor space, they occupy the top floor of the tower envisioned by Kengo Kuma to act as a vertical urban forest, with views towards Sydney&rsquo;s CBD, Centennial Park, and&nbsp;panoramic water views to the south.

The penthouses feature water&nbsp;and moisture-resistant travertine&nbsp; in the kitchen island benchtops, splashbacks, and in the bathroom walls, floors and vanity benches. There are Smeg appliances throughout, including rangehoods, gas cooktops, ovens, steam ovens, microwave ovens and coffee machines.

Buyers will have the option to upgrade to a Japanese onsen style bathtub,&nbsp;made of fragrant hinoki cypress, in the ensuite.

&ldquo;Mastery by Crown Group is the last council-permitted tower for the area, meaning that this is an exclusive opportunity to not only live in the very first Kengo Kuma-designed residential building in Australia, but to secure views that will be impossible to replicate in Waterloo with existing zoning rules,&rdquo; Sunito said.

[smartcode_project:default project_id=7020 project_image_fid=173690]

Penthouse Collection residents will have access to Mastery&#39;s resort-style facilities which include an infinity-edge rooftop pool, gym, spa, mini-cinema and a community room. Australia&rsquo;s first Japanese &ldquo;eat street&rdquo; is located on the doorstep.

The Mastery and Waterfall Penthouse Collection apartments are for sale, from $3.75 million to $4.88 million..

There are still studio, one, two and three-bedroom apartments&nbsp;for sale, priced from $630,000 and ranging&nbsp;to $2.37 million.

Knight Frank estimates that in 2021 Sydney luxury real estate prices will surge by 10 per cent. The outlook remains positive for 2022 as well, with a healthy seven per cent&nbsp;year-on-year growth forecast.

Crown Group tapped in to the work-from-home trend, pivoting toward flexible floor plans and internal and external living areas

Crown Group release penthouses in Mastery and Waterfall, Sydney apartment developments

The hotly anticipated Aperture, which will be one of the most high-end apartment developments&nbsp;in Broadbeach when completed in mid-2023, has officially launched to the market.

Following on from their successful first tower in Broadbeach, Signature, which sold out earlier this year, the Melbourne-based Little Projects took a different approach to&nbsp;Aperture, which refers to the opening of a lens&#39;s diaphragm through which light passes.

This time they&#39;re targeting the luxury owner-occupier, with every apartment on offer spanning a whole-level and offering over 200 sqm of internal and external space, enough space for a downsizer.

There are just 29 apartments across the 35 levels, with 26 full-floor apartments with three bedrooms, three bathrooms and three parking spaces. They start from $2.1 million, with every level of the 120 metre building offering uninterrupted ocean views from the balcony off the living area.

[smartcode_project:default project_id=108327 project_image_fid=181282]

Floorplans for the double-storey sub penthouse and penthouse are still in the works, but they expect to have four bedrooms and four bathrooms each.&nbsp;

Elenberg Fraser, who has designed a number of developments&nbsp;in Melbourne, created the modernist-inspired apartment building, with hand-crafted materials and a minimalistic design featuring throughout. Gaggenau appliances and natural timber and stone have been used for the interiors, creating an extra level of luxury rarely seen in the market.

Leighton Pyke, Director of&nbsp;Little Projects Co, reckons&nbsp;the south end of Broadbeach is quite possibly the ultimate location to soak up the central coastal atmosphere.

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&ldquo;It&rsquo;s part of a very tranquil enclave just a little bit away from the heart of the vibrant retail and dining precinct but within walking distance to all that Broadbeach has to offer, and only metres from the beach,&quot; Pyke says.

Pyke said they made a conscious effort to change the course from the high-density projects and instead offer full floor collection of apartments, offering enough space for the downsizer.

&ldquo;We put a lot of thought and energy into this project, alongside our talented team of architects, to come up with a design concept that blends with the superb location of the site.&rdquo;

&ldquo;With this project, we wanted to challenge expectations on how a luxury coastal residential collection should look and feel, so we devised a sub-tropical oasis that incorporates moody tone for an effortlessly luxe feel,&rdquo; Pyke said.

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KM Sales &amp; Marketing agent Todd Matheson is handling the market.

Aperture will feature a&nbsp;lap pool on the podium level, with hotel-like day beds at either end. The pool is flanked by a long pool deck, and an adjoining 20 sqm barbecue area with outdoor dining space. On this level is a gym with a steam room.

The project sits just minutes from the patrolled Kurrawa beach, and a short walk from the heart of Broadbeach&#39;s Oracle dining and retail precinct. 
 
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Elenberg Fraser, who has designed a number of developments in Melbourne, created the modernist-inspired apartment building

Little Projects Co launch Broadbeach apartment development, Aperture

<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

[smartcode_project:default project_id=140747 project_image_fid=367540]

The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

[smartcode_project:default project_id=140747 project_image_fid=367529]

Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

[smartcode_project_cta:default project_id=140747]

Smith by Valli delivers a refined collection of luxury residences to Melbourne’s inner north

<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=365684]

Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=365687]

Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

[smartcode_project:default project_id=509 project_image_fid=365689]

The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

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Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

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The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

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MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

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Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

Joel Robinson

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