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The home buying spending intentions, part of the Commonwealth Bank Household Spending Intentions (HSI) series, saw further gains across February, reaching its highest level since the data series began in 2015.

Both mortgage applications and Google searches were up in February in comparison to the month and year prior.

CBA chief economist Stephen Halmarick said the overall improvement in the HSI data is consistent with other signs that Australia’s economy continued to recover in the early months of 2021.

[smartcode_project:default project_id=3303]

"We continue to expect the home buying market to be a key source of support for the Australian economy in 2021 – driven largely by the very low level of interest rates," Mr Halmarick said.

CBA are continuing with their forecast that property prices will be up eight per cent in 2021 and six per cent in 2022, with house prices expected to be nine per cent higher this year.

Mr Halmarick said Commonwealth Bank now expect the Australian economy will grow by 4.4 per cent in 2021 following the economic growth improvement at the end of 2020 pointing to a V-shaped recovery.

One risk to this outlook is the upcoming expiry of the JobKeeper program, though Mr Halmarick said recent CBA research suggests any effect from removing the labour market support measure is likely to be temporary.

“Our view is that the negative impacts of the end of JobKeeper will be short-lived and that the strength in the labour market, the large savings pool generated throughout 2020 and, as shown by the HSI, the solid momentum in spending and home buying, will see the economy transition successfully through the end of JobKeeper,” he said.
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Both mortgage applications and Google searches were up in February in comparison to the month and year prior.

Joel Robinson

Commonwealth Bank's home buying spending intentions hit record highs in February

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The demand for property in Victoria reached record levels in February.

Some 84.8 per cent of the 3,000 properties that went to auction sold under the hammer, the Real Estate Institute of Victoria found.

It was also the highest clearance rate of any month over the last 11 years, topping an old 2010 record which saw an 84 per cent clearance rate.

There were 17 suburbs which saw a perfect auction run, clearing 100 per cent of its properties at auction.

The likes of inner city Hawthorn East, Brunswick East, Collingwood and Fitzroy North saw all of its homes sell.

[smartcode_project:default project_id=3730]

Also scoring a perfect game were Ferntree Gully, Rowville, Seaford, Ashburton, Blackburn South, Fawkner, Wantirna, Boronia, Fairfield, Hillside, Seddon, as well as the bayside suburbs Sandringham and St Kilda West. 

[smartcode_project:default project_id=324]

Reservoir, Coburg, and Bentleigh East beat out the rest to land as the top selling auction suburbs for February 2021, clearing 44, 37, and 35 auctions respectively, while 11 suburbs at least doubled their auction sales compared to same month in 2020.  

The best improvements on last year are in Sunshine North, Dingley Village, Gladstone Park, Ashwood, Albert Park, Fitzroy North, Doncaster, St Kilda West, Montmorency, Hoppers Crossing, and Templestowe.  

The REIV put the stellar results down to government incentives for first home buyers, mortgage repayment holidays and low interest rates, as well as pent up demand following the COVID-19 enforced lockdowns which saw thousands of auctions cancelled.

 
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There were 17 suburbs which saw a perfect auction run, clearing 100 per cent of its properties at auction

Victoria sees highest February auction clearance on record

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The Melbourne developer Monolith saw a flurry of sales following the launch of its Waverley Village development in Mulgrave in south east Melbourne.

They have secured over 80 per cent of sales in just two days, with just a handful of townhouses remaining of the 28 offered.

It was local first home buyers who drove the sales, Monolith's sales and marketing manager Tyler Guo said.

[smartcode_project:default project_id=4046]

Guo said that the the main attraction which has been driving enquiry and buyers is the architecture and design of the townhouses, as well as the affordable price point.

Another likely driver for buyers according to Guo was that Waverley Village is the last undeveloped piece of land in Mulgrave where it is possible to build a community-style development.

Designed by Parallel Workshop Architects, the three bedroom townhouses are priced from around $770,000, with first home buyers will to pay up to $835,000 for the top-end three bedroom residences.

The four bedroom townhouses were mainly picked up by downsizers, with priced ranging between $915,000 to $990,000.

<a href="/new-townhouses/waverley-place-mulgrave-149-hansworth-street-mulgrave-vic-3170"><img alt="" height="739" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/waverley_village_3.jpg" width="1600"></a>

The speed of the near sell out has prompted Monolith to fast-track stage two of Waverley Village, two apartment towers comprising 100 units.

It will be the same concept for Monolith, targeting first home buyers with an affordable entry point and offering a high spec design of the apartments. 

The towers, which will be in keeping with the townhouse design, will be between seven and eight levels tall. They will home a number of amenities which the townhome residents will also have access to.

Sales were initially slated to start at the start of next year, but Guo says it will likely be before the year is out.
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It was local first home buyers who drove the sales, Monolith's sales and marketing manager Tyler Guo said

First home buyer demand sees Monolith nearly sell out Waverley Village, Mulgrave townhouses in two days

Residents of Golden Age Group&#39;s Sky Garden apartment development in Glen Waverley will have access to a resident-only rewards program.&nbsp;

The concept was introduced upon settlement in a bid to support retailers following the extended lockdown Melbourne.

The customised app gives residents a reward program for retail outlets in The Glen shopping plaza, located beneath the recently completed development designed by Rothelowman where 536 apartments sit across three towers.

[smartcode_project:default project_id=2881]

The offers range between&nbsp;discounts at homeware&nbsp;stores to bulk-billed in-home clinic vists from the local medical clinic.

The Glen underwent a $430 million redevelopment&nbsp;in 2019 and now homes a mix of 240 shops and eateries.

<a href="https://www.google.com/search?q=sky+garden+urban&amp;oq=sky+garden+urban&amp;aqs=chrome.0.69i59j69i60l3.7044j0j9&amp;sourceid=chrome&amp;ie=UTF-8"><img alt="" height="899" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sky_garden_glen_waverley.jpg" width="1600" /></a>

There are only around 75 apartments left in the 536 apartment tower, with prices starting from $498,000 for one bedroom apartments and $668,000&nbsp;for two bedroom apartments. Three bedroom apartments are priced from $1,118,000.

There&#39;s a 4,000 sqm private garden located above the plaza which features fitness and play areas, a bar, lounge and a dining space.

Residents will also have communal gaming rooms, private cinema and media rooms, a fully equipped gym, heated lap pool and a sauna and steam room.

Residents of Golden Age Group's Sky Garden apartment development in Glen Waverley will have access to a resident-only rewards program 



Glen Waverley's Sky Garden offering residents unique reward program

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Until the end of March buyers can save up to $63,000 buying an apartment in the Clayton South apartment development Aster, the final release in the sought-after Jackson Green community.

The Cedar Woods Developer Boost, which matches the Victorian government's $15,000 HomeBuilder Grant, can see first home buyers save up to $63,000 when combined with the First Home Owner Grant and stamp duty savings.

The entry level apartments are priced at $396,800 for a limited time, and two bedroom apartments from $524,000 for eligible buyers. Three bedroom apartments start at $725,000.

Aster, set across three buildings in the heart of Clayton South, has been designed by DKO and comprises 63 one, two and three bedroom apartments just 20 kilometres from the Melbourne CBD.

[smartcode_project:default project_id=4124]

Each apartment will feature generous open plan living spaces and quality fixtures and finishes throughout.

Aster Apartments, fronting Haughton Road, will be part of the wider Jackson Green community which already has a number of successful apartment developments.

It sits near at the end of a spaced-out row of the completed Wattle Apartments and Gardenia Apartments. At the other end of the row is the sold-out Huntington Apartments.

Aster sits directly opposite Jackson Green’s central park, allowing unparalleled access. Just across the road is a recreational hub with a dog park, basketball courts, the Djerring trail and other outdoor facilities for all to enjoy.

 
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The Cedar Woods Developer Boost, which matches the Victorian government's $15,000 HomeBuilder Grant, can see first home buyers save up to $63,000 



First home buyers save up to $63k in Clayton South's Aster Apartments as Cedar Woods match HomeBuilder Grant

Sales have begun at Allure Property Corporation's&nbsp;$90 million Gold Coast project 88 Burleigh.

The seashell-inspired, 17-level tower on The Esplanade, across from Burleigh Heads beach, will home just 31 apartments.

It has been designed by the local architecture firm DBI with the owner-occupier in mind, with spacious apartments each with at least three bedrooms. Interest is expected to come from local downsizers.

The upper-level sub-penthouses have four bedrooms and each span over 400 sqm.

[smartcode_project:default project_id=92609]

Each apartment’s lobby opens directly on a sky garden forming a vertical green spine on its northern and southern facades. Full-height windows and operable panels in the living areas have been used not only to optimise the ocean views, but to allow for natural light and sea breezes by facilitating cross-ventilation.

The ground level will feature&nbsp;a boutique residents club&nbsp;with lounge, kitchen and bar facilities as well as double beach shower.

Apartment prices start from over $2 million.

<a href="/buildings/the-esplanade-burleigh-heads-146-156-the-esplanade-burleigh-heads-qld-4220"><img alt="" data-entity-type="" data-entity-uuid="" height="1067" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/88_burleigh_two_0.jpg" width="1600" /></a>

DBI director Raith Anderson says 88 Burleigh has been imagined as a “living and breathing extension of the beautiful beachfront location”.

“The project has elegant clean lines and glazing dialogue with the crafted sculptural spine running along the beach façade reminiscent of a Turridae eroded by the sea breeze, which has been directly inspired by Burleigh’s coastal DNA,” said Mr Anderson.&nbsp;

Its beachside façade draws its inspiration and takes its form from the internal structure of a Turrid shell.

Mr Anderson said the design of the development and use of timeless materials reflects Burleigh Head’s established natural palette and the famed sophisticated beach lifestyle.&nbsp;

“The base of the building showcases cascading subtropical seaside landscaped terraces and a sculpted scalloped planted awning which extends the vertical green spine all the way to the luxuriant landscaped ground floor and lobby,” said Mr Anderson.&nbsp;

“The walls and planters are clad with travertine and the ground level meandering landscaped pathways are covered with natural stone, complementing the clean design of the tower and offering an additional layer of sophistication.

“Expansive glass facade with sliding glass screens and feature curved panels provide uninterrupted beach views to the residents while providing comfortable, well protected indoor and outdoor living spaces all year.”

&nbsp;

The seashell-inspired, 17-level tower on The Esplanade, across from Burleigh Heads beach, will home just 31 apartments

Sales launch at Allure's $90 million Gold Coast apartment tower 88 Burleigh

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Downsizers and professionals have been the most keen buyers in the inner Brisbane development Bloom on Wesley.

The 36-apartment project in Lutwyche, north of the Brisbane CBD, is 60 per cent sold with just three bedroom apartments left. A Spring completion date is slated.

Raise Projects managing director, Ramy Raymond, said the project attracted the downsizer and professional market due to the size of the three bedroom apartments, their value and their pet friendliness.

Raymond also says the fact that Raise are also building the project allows for a further level of customisation, which was a hit with buyers.

[smartcode_project:default project_id=6179]

“Even with the apartments now under construction, some customisation is still possible, which is the advantage for buyers working directly with a development team like ours, who are also building the project," Raymond said.

“Many buyers have met directly with me and our building team to explore their needs within our floorplans, and we have received a lot of feedback that our ability to listen to our buyers has helped them to purchase, to personalise their journey and really look forward to creating their new home at Bloom on Wesley.”

Mr Raymond said some buyers of the three-bedroom apartments were enjoying the flexibility of using the third room as a professional office or a hobby retreat, while some three-bedroom apartments also came with an additional multi-purpose room.

He said the need for flexible space within apartment living had been emphasized during the pandemic and will remain important as workplaces evolve to be more fluid than previously.

“Bloom on Wesley has been designed for its buyers to have everything they need for great living within their apartments and through wonderful amenities on the rooftop including an infinity pool, meditation/gym space and alfresco dining.

<a href="/buildings/bloom-on-wesley-17-wesley-street-lutwyche"><img alt="" height="802" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/bloom_on_wesley_pool.jpg" width="1626"></a>

“At the same time, they are just metres from great shopping, dining, services and transport, including a new-look Crown Lutwyche Hotel that will be refurbished this year in the next block and new boutique stores at nearby Colwill Place, just a five-minute walk away.

“Bloom on Wesley offers unrivalled value for this location, which is a key factor for our buyers to live without compromise, whether they are re-sizing or downsizing.”

The three bedroom apartments range in size from 123 sqm up to 207 sqm and are priced from $695,000 up to $875,000.

 
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Raise Projects managing director, Ramy Raymond, said the project attracted the downsizer and professional market due to the size of the three bedroom apartments, their value and their pet friendliness.

Downsizers and professionals keen on inner Brisbane development Bloom on Wesley

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The Geelong housing market has been one of the strongest regional markets across the country over the last few years.

House values rose 5.3 per cent in the year to January 2021, according to CoreLogic, with the median houses price rising to $625,349.

[smartcode_project:default project_id=5559]

Geelong has also been the most profitable of the major regional coastal markets, with 98.6% of properties selling at a profit over the September quarter.

And first home buyers have been given the opportunity at the Gen Fyansford housing estate in Fyansford, on the fringe of Newtown on the western edge of Geelong.

Recognised by the UDIA as one of Australia's most impressive urban renewal projects, Gen Fyansford is a joint venture between the Melbourne-based developer ICD Property and Supalai Public Company, one of Thailand's largest property developers.

<img alt="" height="1127" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/gen_fyansford_2.jpg" width="1800">

The pair have launched their cheapest land offerings for a number of years, which ICD expect will drive first home buyers and young couples.

The 20 lots in Stage 3.2, located directly opposite Gen Fyansford's community park, are sized between 400 sqm to 520 sqm and are priced between $360,000 to $429,000. The regular price of lots have been between $600,000 to $900,000.

11 of the 20 lots have already sold.

Gen Fyansford was established in 2014 and is currently home to 400 residents, which is set to increase to 950 by the end of 2021. There will be a total of 1,300 lots, with over 600 lots sold to date.

In mid February all 11 lots in Gen Fyansford's stage two sold within a week. Buyers paid up to $619,000.
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First home buyer opportunity at Geelong housing estate Gen Fyansford

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It's house-size apartment living for residents at Melbourne's newest luxury development K1 Residences.

The boutique development delivered by the rapidly growing Optimus Developments is made up of 13 whole floor, four bedroom apartments with gun-barrel views across Albert Park.

Completion has been slated for April.

Urban has taken a look at its favourite seven features of K1 Residences. 

[smartcode_project:default project_id=2772]

1. The Developer

Optimus Development Group was established in 2014 and have quickly expanded their reach across three capital cities, Melbourne, Sydney and Canberra.

Optimus, headed by Alex Windsor, were behind Melbourne's 200 metre EQ Tower, as well as the boutique Preston apartment development Nine High Residences.

They've also completed projects elsewhere across the country, with the luxury Gold Coast development 31 Broadbeach.

[smartcode_project:default project_id=2772]

2. The Design

With architecture by award winning DE atelier Architect, design details include include spacious garden balconies, floor-to-ceiling windows doors and oversized bathrooms.

The landscaped facade, designed in collaboration with Aspect Studios, gives the building a unique look and feel.

3. The Amenities

Residents at K1 will have access to a luxury swimming pool, complete with waterfalls and views back to the city. The area is accompanied by outdoor seating.

K1 has also been specifically designed with living and co-working office spaces in mind providing a healthy and flexible working from home lifestyle.

<a href="/buildings/k1-residences-melbourne-1-union-street-melbourne"><img alt="" height="904" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/k1_pool.jpg" width="1600"></a>

4. The Aspect

Designed by the landscape architects, Aspect Studios, K1’s gardens are a defining element of the building.

Balconies and gardens flourish with lush planting and trees, whilst creepers climb the external walls plus evocative branch-like sculptures from Kavellaris Urban Design.

Just across from Albert Park K1 layers foliage upon foliage, a vertical neighbourhood enveloped by lush greenery and panoramic city skyline views. 

<a href="/buildings/k1-residences-melbourne-1-union-street-melbourne"><img alt="" height="902" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/k1_view.jpg" width="1600"></a>

5. The Finishes

Interior design is from Bergman and Co, masters of high-end design and finishes, who have crafted exquisite interiors with strong attention to detail.

The selection of materials and fixtures from highly regarded Rogerseller showcases a premium offering. 

The kitchens, created by Poliform, and the quality of the cabinetry all add value to the home plus V-ZUG appliances are paired with natural stone bench tops.

<a href="/buildings/k1-residences-melbourne-1-union-street-melbourne"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/k1_bathroom.jpg"></a>

Extra large bathrooms offer a sense of space, supremely fitted out with copper-toned tapware and shower head in the large frameless shower,

Amenities including a sky garden to embody Melbourne’s best-loved suburbs and an infinity-edge pool for the penthouse apartment.

6. The Location

K1’s Union Street address places it in Melbourne’s ‘green lungs’ 3004 postcode.

It sits just one road back from the busy Queens Road at the south end of Albert Park. 

To the west of the development is the cool Prahran and Windsor area, with the resurgent St Kilda area to the south.

7. The Space

The 175 sqm apartments come in a variety of four bedroom configurations which is attractive for the downsizer market who are taking advantage of the soaring housing market by cashing in.

There are a number of curved balconies in each apartment which make for a striking facade.

<a href="/buildings/k1-residences-melbourne-1-union-street-melbourne"><img alt="" height="977" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/k1_residences.jpg" width="1200"></a>
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Set for completion in April there's so much to love about K1, check it out before all the residences get snatched up

Seven things you'll love about living at Melbourne's luxury K1 Residences

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The Melbourne developer Forte Group are expecting first home and entry level buyers at their latest Thomastown development Nexus Apartments.

The $36 million project at 240 High Street Thomastown, north of Melbourne, will comprise 74 apartments across its two boutique five-level buildings in the heart of the town. They will be the town's biggest residential development.

Forte Group director William Tan says the development will be more geared towards first home buyers and entry level buyers that are priced out of suburban homes.

"This will be one of the finest buildings in Thomastown and with close proximity to the train station, shops and local schools, this building will set the benchmark for apartment living in this area," Mr Tan said.

<a href="/new-apartments/nexus-apartments-thomastown-240-high-street-thomastown"><img alt="" height="776" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/forte_thomastown_bedroom.jpg" width="1200"></a>

Prices start from $349,000 for one bedroom apartments, $449,000 for two beds and $539,000 for three bedroom apartments.

The collaboration between Melbourne architecture firm Hachem and Cornetta Partners saw the duo consider the location of Nexus in its design, with the Thomastown's 1880's train station located across the road.

The two five level buildings curve past each other, replicating a train bending around a track. The large carriage-shaped windows feature in the living spaces, while the ground level facade, where there will be six retail spaces, references two trains sliding past each other.

Construction is expected to begin in June with completion slated for the end of 2022.

<h2>VIC properties now selling:</h2>

[smartcode_project:default project_id=7633]

[smartcode_project:default project_id=3494]

[smartcode_project:default project_id=89720]
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The $36 million project at 240 High Street Thomastown, north of Melbourne, will comprise 74 apartments across its two boutique five-level buildings in the heart of the town.


Why Forte Group's Thomastown apartment development Nexus will be a hit for first home and entry level buyers

<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.

[smartcode_project_cta:default project_id=509]

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;

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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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