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A vacant Toorak block of land fetched $850,000 above reserve when four developers fought for the weekend auction offering.
It came with planning permits for the 658 square metre block at 7 Monomeath Avenue.
The approval was for two luxury townhouses.
Bidding opened a $2.8 million, RT Edgar’s Mark Wridgway who announced the lot on the market at $3 million.
It sold for $3.85 million.
It last sold for $3.6 million in 2015 and $2 million in 2010.
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jchancellor-FAypfDUnLy

Toorak townhouse site sells for $3.85 million

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GUEST OBSERVER
Real-estate valuations in major cities are at historical peaks, banks are pulling back from commercial real estate lending and the tailwind from lower interest rates appears to be coming to an end. 
Against this background,  assesses the outlook for real estate, and opportunities in traditional and alternative exposures, such as real estate debt. 
Cap rates have come down; what’s next?
Qualitas is an investor that is agnostic to sector and which part of the capital structure we play in – ultimately what we are looking to do is find opportunities where there is the biggest mismatch between underlying real estate fundamentals and the capital markets pricing of parts of a capital stack for that sector.
The traditional commercial real estate sectors of office and retail have been a tough place for the past number of years in our view – underlying and fundamental tenant demand has been quite benign, outside of one off events such as the Sydney metro compulsory acquisitions, yet capital has been chasing those assets very hard right across the capital stack. Spreads and cap rates have come down a long way.
The easy money has been made in commercial assets by riding cap rates down: the Tailwinds are at an end. From this point, asset owners will need to deliver value through real asset management – focusing on your tenants and your physical product, because the easy wins are gone. That is often easier said than done and really requires focused on the ground management.
We anticipate there will be a period of further capital appreciation over the short term, this time driven by effective rental increases via some reduction in incentives, with cap rate compression petering away. The question for office owners will be how far incentives will fall and how sustainable is the increased effective rent in the face of the change in cap rate direction.
Residential will offer opportunities
Residential is where we see the biggest dislocation, despite consistent market paranoia.
It’s true that certain precincts and product types having challenging supply issues, but there remains a fundamentally strong underlying demand for housing that gives us medium term confidence in the market. This is supported by a number of macro factors outlined below.
Demand
There is unrelenting net migration, coupled with the strong political will in our major cities to increase housing density. There is also a massive change in tenure preference towards rental due to affordability and choice occurring in the market. 
These are combining to provide a robust inherent demand. The fears about supply issues in the Melbourne and Brisbane CBD investor apartment market and some of the issues out in Western Sydney are well founded – however they make up a fraction of the overall housing story and outside of those hot spots demand is unrelenting. 
The market is far from being in a structural surplus and if you measure supply by housing starts instead of planning approvals obtained, then this is particularly evident. Our research suggests that the reality is between Sydney and Melbourne we need circa 65,000 new dwellings per annum – that is around 180 dwellings each and every day and the market is nowhere near suppling that. 
The market is learning rapidly about what is a “good” apartment dwelling and the days of poorly designed and built apartments being fired up at record pace are as good as finished. The occupier and buyer markets are too savvy now for that and developers are increasingly focused on the minutiae of design, which hasn’t always been the case.
Supply
Our view is that these demand drivers are robust for the medium term but will be supported by the other side of the equation, being the supply situation – particularly the factors curtailing supply.
There is currently a severe shortage of debt capital for the development of residential – it is currently as bad as if not worse than the financial crisis. Notwithstanding media hype about “postcode blacklists”, the banking sector has taken a much more generic approach to development finance –the tap is very close to being off altogether.
Our commercial estate lending market is dominated by 4 major banks with around an 85% market share versus closer to 50% share in the US and Europe. Given the soft conditions in other sectors of the economy, the banks’ weighting to real estate is heavy and APRA has stepped up examination of commercial real estate books significantly. The property finance departments now have negative asset volume budgets and are actively seeking to shed developer clients. 
This significant pullback in credit availability is being compounded by a confusing and difficult town planning environment in both Sydney and Melbourne.
Notwithstanding the desire from government to increase density around existing amenity, there is an ongoing battle against local councils and the electorates. It is having a direct impact on the ability for new supply to be injected in to the right areas of the market and is exacerbating shortages in the areas housing is required – again, the political environment resulting from “too many city shoebox apartments” has led to a broad-brush approach to reigning in density due to issues in one small segment of the market, much in the same way the banks have done.
This means is that the majority of the cranes that you see in the sky in our major cities are what we call 2014 and 2015 vintage cranes – there are significantly less 2016 project commencements and we anticipate 2017 and even 2018 will be similar – meanwhile, the underlying demand and net migration pushes against the supply shortage.
Where to Find Value?
So if I turn to what Qualitas is looking for in the market currently, one thing we look at very closely is what we call the “Revenue &amp; Capital Curve”. This is a conceptual indicator for us about where we want to pivot our investing activity. As you will see there is a clear Equity Strike Zone and a clear Debt Strike Zone – we feel that we are currently clearly in the Debt Strike Zone.
On that basis, our thesis is to focus on playing the current position of the curve as well as laying the foundations for the next inflection point on the curve:
<ul>
<li>Filling the capital gap on “shovel ready” projects – playing the current cycle position</li>
<li>Repurposing assets to focus on expected 2020 supply shortage – positioning for the next turn in the cycle.</li>
</ul>
We are currently most focused on debt or debt-like instruments as the returns available at this point are equity like in our view. The debt pull back is leaving significant holes in capital structures and the returns on offer are strong on a risk adjusted basis and akin to equity, particularly given the late entry point of the debt.
This ability to deliver strong risk-adjusted returns to our investors is part of what’s driving Qualitas’ growth. Coupled with the addition of respected senior team members, we are confident this growth will continue, benefiting not just our investors, but the partners for whom we filling the lending gap. 
Mark Fischer is managing director, Principal Investments at Qualitas and can be contacted <a href="https://www.qualitas.com.au" target="_blank">here</a>.
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Why insto money is moving to residential: Mark Fischer

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GUEST OBSERVER
Housing finance
Home loans: The number of loans (commitments) for budding home owners (owner-occupiers) rose by 0.5 percent in January, the third consecutive rise. But the increase was wholly due to a 5.0 percent lift in refinancing.
The value of loans (owner occupier and investment) rose by 1.5 percent in January. Owner-occupier loans fell by 0.2 percent but investment loans rose by 4.2 percent. Non-bank lending up: The number of loans by non-bank lenders rose by 4.7 percent in January after a 6.2 percent lift in December – the strongest back-to-back gain in 32 months.
What does it all mean?
There is a lot of information contained in the Housing Finance publication. Actually so much information that it can prove confusing. In the latest month, budding home owners (owner-occupiers) took out fewer loans to build homes or buy new or existing homes. There were more loan commitments in the month, but only because more people chose to refinance existing loans.
Refinancing had fallen for three straight months, so the lift in loans was from 16-month lows. The lift in refinancing may serve to boost the purchasing power of consumers, and thus support growth of the broader economy.
There were actually fewer loans taken out by those looking to build their dream homes. Loans to budding home builders have fallen for four of the last five months. But once investors are added in, construction loans are still healthy, up almost 10 percent on a year ago. If these commitments are actually drawn down, then more new dwelling projects will be started in coming months.
Home building does appear to have peaked but the lift in construction loans suggests a soft landing lies ahead.
Investors remain active in the housing market with the value of loans at 20-month highs. Investor loans are actually up 27.5 percent on a year ago, the fastest growth in 29 months.
The risk is that regulators may seek to apply further measures to slow down the pace of investor home loans.
Borrowers in many states are taking out smaller home loans than a year ago. That is despite home prices still generally rising and despite interest rates being lower than a year ago. The more conservative lending posture will encourage the Reserve Bank.
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What do the figures show?
Housing finance - number
The number of loans (commitments) for budding home owners (owner-occupiers) rose by 0.5 percent in January after rising 0.2 percent in December and rising by 1.4 per cent in November. Excluding the refinancing of dwellings, the number of loans was down by 1.7 percent.
 The number of new home loans was up by 1.9 percent on a year ago (excluding refinancing, up 4.6 percent).
Loans by owner-occupiers for the construction of homes fell by 1.4 percent in January. Loans to buy newly-erected dwellings fell by 2.3 percent.
Loans for the purchase of established dwellings (excluding refinancing) fell by 1.9 percent.
The number of refinancing transactions rose by 5.0 percent.
Lending across states/territories: NSW (+1.3 percent); Victoria (+1.6 percent); Queensland (+1.6 percent); South Australia (+4.4 percent), Western Australia (+0.3 percent); Tasmania (-2.5 percent); Northern Territory (-5.3 percent); ACT (+1.9 percent).
HOUSING FINANCE - VALUE
The value of new housing commitments (owner occupier and investment) rose by 1.5 percent in January – the fifth straight gain. Owner-occupier loans fell by 0.2 percent but investment loans rose by 4.2 percent.
The value of loans by owner-occupiers and investors to build new homes rose by 9.7 percent in January after falling by 10.2 percent in December and rising 15.4 percent in October. The value of loans stood at $3.04 billion, down from the record high of $3.32 billion in the year to March. 
HOUSING FINANCE – OTHER STATISTICS
The proportion of first-time buyers in the home loan market eased from 13.8 percent to 13.4 percent in January (long-term average 19.4 percent).
The proportion of fixed rate loans rose from 14.6 percent to a 9-month high of 15.2 percent in January. And the average home loan across Australia stood at $363,600 in January, down 3.2 percent in the month and down 0.4 percent on a year ago.
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WHAT IS THE IMPORTANCE OF THE ECONOMIC DATA?
Housing Finance data is produced monthly by the Bureau of Statistics and shows commitments by lenders, such as banks, to provide finance for housing purposes. The lending figures relate to those looking to buy or build homes to live in as well as those seeking to buy or build homes for investment purposes. Generally people get their finance organised first, so the figures are regarded as a leading indicator on the housing market.
WHAT ARE THE IMPLICATIONS FOR INTEREST RATES AND INVESTORS?
Regulators will keep a close eye on home loan trends. The revival of investor lending could lead to fresh controls over new lending. But it is also worth pointing out that non-bank lenders seem to have been more active in the past two months which may provide complications in containing investor exuberance.
While investors are more active in the housing market, budding home owners are more circumspect with the value of owner-occupier lending just 1.9 percent higher than a year ago.
The lift in home loan refinancing is positive for consumer-focussed companies.
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Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.
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More home loan refinancing, investors still active: Craig James

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GUEST OBSERVER
The January housing finance approvals came in above expectations with a notably strong rise in the value of investor lending. 
The total number of loans to owner occupiers posted a modest 0.5 percent rise, better than the forecast 1 percent dip but within the range of monthly volatility which is wider for January due to the seasonal low.
 Ex refi, ‘new loans’ were softer, down 1.7 percent. Both are up a touch on year ago levels.
Of more note was another strong rise in the value of investor loans, up 4.2 percent/mth to be 27.5 percent higher over the year.
The resurgence since around mid 2016 follows a sharp drop-off over the second half of 2015. The monthly value of investor approvals is now 5.3 percent below its peak in the first half of 2015 and on the basis of January’s update is showing no signs of topping out.
Details  Owner–occupiers (no.)   0.5%mth, 1.9%yr – ex-financing (no.)        –1.7%mth, 4.6%yr       
Construction of dwellings (no.)               –1.4%mth, –5.1%yr Purchase of newly built dwellings (no.)   –0.3%mth, 10.4%yr        
Value of loans:  Owner-occupiers ($bn)   –0.2%mth, 1.9%yr Investors ($bn)              4.2%mth, 27.5%yr Total ($bn)                    1.5%mth, 11%yr Total ex refi ($bn)          1.3%mth, 15.6%yr      
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
 
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Investor lending surge continues into January: Matthew Hassan

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GUEST OBSERVER
The February Gauge printed a decline of 0.3 percent/mth taking the annual rate down slightly from 2.0 percent/yr to 1.9 percent/yr.
The three month change dipped to 0.8 percent from 1.2 percent in January.
As February is the mid-month of Q1 it provides the Gauge's first estimate of the Q1 CPI.
More recently, the end quarter reading has provided a better guide to the CPI than the mid-month.
As such, we will wait for the March reading to get a more comprehensive update.
However, since March 2016 neither measure has provided us with a reliable guide to the CPI.
As such we recommend the cautious application of the Gauge as a leading indicator of the CPI.
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Justin Smirk is ‎senior economist, Westpac Group and can be contacted <a href="https://www.westpac.com.au/about-westpac/westpac-group/" target="_blank">here</a>.
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Inflation declines month on month: Justin Smirk

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<img src="https://counter.theconversation.edu.au/content/70258/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
During summer, when a rainbow lorikeet or kookaburra visited your home, what did you do? Did you offer them a slice of apple, or simply watch until they take flight?
It brings many people joy to provide food and water for birds, to encourage them to stay a while and be given the chance to observe them more closely. But some people are reluctant to interact with birds in this way because they’re worried it might damage the birds’ health. 
In contrast with other countries, little research has been done on the effects of feeding birds in Australia. As a result, there are no established guidelines around how to feed and provide water for local birds. 
That’s why we ran the Australian Bird Feeding and Watering Study. We asked nearly 3,000 people to monitor the birds that visited their feeding areas and birdbaths. We wanted to know if there was a difference in the species that visited different types of gardens.
We examined the numbers and types of birds visiting:
<ul>
<li>birdbaths where no food was provided</li>
<li>birdbaths where food was provided</li>
<li>bird-feeders where birdbaths were provided</li>
<li>places where only food was provided.</li>
</ul>
The early results from the winter stage of the Australian Bird Feeding and Watering Study suggest that if you provide food and water, you will get more birds in your garden. But the species you attract will depend on what exactly your garden has to offer. 
Granivores
Granivores are seed-eating birds. They include species such as parrots, crested pigeons, sulphur-crested cockatoos, crimson rosellas and galahs. 
We noticed a spike in the number of granivores in gardens where both food and birdbaths were provided. But when food was on offer, fewer granivores chose to use the birdbath. We don’t yet know exactly why this is, but it could be because these seed-eaters need less water, or they can get it more easily from other sources than they can food.
Also, most of the bird food sold in shops is seed-based. People who buy these products will naturally attract more seed-eating birds to their garden.
We were, however, surprised to see crested pigeons visiting gardens where food was provided. These birds are only recent urban arrivals, and were previously restricted to semi-arid environments as opposed to the more urban areas where most of our citizen scientists lived. But crested pigeons are very adaptable and now compete fiercely for food and territory with the introduced spotted dove in some Australian gardens.
<h2>Nectarivores</h2>
“Small” nectarivores are nectar-eating birds that weigh less than 20 grams. The main birds in this group are New Holland honeyeaters, eastern spinebills and Lewin’s honeyeaters. 
The early results of our study suggest small nectarivores prefer gardens with birdbaths more than their granivore and insectivore friends. In fact, it seems that these small nectarivores like birdbaths so much, they will choose birdbaths over food when both are provided. 
“Large” nectarivores are nectar-eating birds that weigh more than 20 grams. These species including noisy miners, rainbow lorikeets and red wattlebirds – seem to prioritise food over birdbaths. This may be because they’re looking for a source of protein that they can’t easily find in their natural environment. 
Honeyeaters – such as Lewin’s honeyeaters, blue-faced honeyeaters and noisy miners – will forage on nectar but will eat insects as well. They switch from one to the other, but once they have found their meal they will defend it vigorously from other birds. 
<h2>Insectivores</h2>
Insectivores feed on insects, worms, and other invertebrates. Some insectivore species include superb fairy-wrens, willie wagtails and grey fantails.
Insectivores are most attracted to gardens where both food and water are provided. While superb fairy-wrens were frequently found in gardens where food was provided, willie wagtails and grey fantails preferred to visit gardens where only water is provided. 
<h4> </h4>
Many people have told me how confident fairy-wrens and willie wagtails can become around houses and gardens. These tiny birds can be bold and aggressive, and can work together to get what they want. A mum and dad fairy-wrens will conscript their older children into looking after younger ones – and siblings who refuse to help find food and defend territory may even be kicked out of the family. So these tough breeds have a competitive advantage in their new urban environments, and aren’t afraid to mix with or even chase off bigger birds.
You may be wondering exactly what type of seed to put out to attract which granivore, or which meat attracts a carnivore like a Kookaburra. I’m afraid we can’t yet say for sure, as we are yet to analyse the data on this question. Watch this space.
<h2>Could birds become reliant on humans for food?</h2>
Many people worry that birds will become reliant on humans to provide food for them. But this mightn’t be as big a concern as we once though.
The birds turning up at feeding areas and birdbaths are species that are highly adaptable. Many Australian birds live long lives, and relatively large brains when compared to their European counterparts. Some experts have argued that some Australian birds have evolved a larger brain to cope with feast and famine conditions in the Australian environment.
<h4> </h4>
Many Australian bird species can switch easily between estates and gardens in one area, be semi-nomadic, fully nomadic or seasonally migratory. This ability to adapt and switch between diets makes Australian bird species very resourceful, innovative and adaptable. 
Of course, Australia also has birds that have highly specialised diets or habitats, and they’re the ones usually most threatened or limited to one territory – birds like the regent honeyeater or ground parrot. In this study, we’re concentrating on birds that are adapting to urban areas and turning up at birdbaths and feeding areas in gardens. 
<h2>Building our knowledge of bird feeding behaviour</h2>
We plan to develop guidelines around providing food and water for birds in a way that has the highest conservation value for our feathered friends. But before we can do that, we need more data from you. 
So please take part in the summer stage of the study and pass the word around to others who may wish to be involved.
The summer survey will run for four weeks, beginning on January 30 2017. Visit feedingbirds.org.auto download the complete report on our early findings or to register to take part in our summer study.
Grainne Cleary is researcher, School of Life and Environmental Sciences, Deakin University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/grainne-cleary-300485" target="_blank">here</a>.
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Birdbath, food or water? How to attract your favourite birds to your garden

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GUEST OBSERVER
With diverse reactions being stirred by the Victorian State Government announcement that come July 1st First Home Buyers in Victoria will be let off paying of having to pay stamp duty, the opinions on what the real impact might be differing greatly.
Fuelled by the housing shortage right around Australia and across Victoria, and an ever increasing demand from first time property buyers, the prices are set to stay strong and continue to edge forward. While the sentiment of waving the state charge comes from the right place and aims to support virgin buyers, some believe the ‘home free’ on the stamp duty may well drive prices up and even more out of reach for those starting out.
It is hard enough for first home buyers to get into the market, relieving the extra pressure of having to save up for stamp duty is certainly going to motivate more buyers.
Some experts believe this will drive prices up, rather than down, but really, it will encourage younger buyers to purchase sooner.
Additionally, the Victorian state government has announced to give first home buyers even greater incentive with a first home buyers grant of up to $20 k (provincially) and $10 k in metropolitan areas.
Price will never curb housing shortage, nor will affordability. As long as we have a shortage of land and steady demand, nothing will really change. But, with offerings that will save first time owners upward of $30 k, we will see more people taking the leap to property ownership sooner.
Property has been at the centre of the Great Australian Dream, mind you with median prices across Melbourne being what they are, for many young people it is either a pipe dream or a nightmare, she added.
Not surprising, the rentvestor trend is on the rise as younger people can not afford to buy where they want to live, she said.
While, the move by the Victorian State Government to abolish the stamp duty charge gets the thumbs up from first home buyers, whether this will drive prices up or not needs to be seen.
For many come the new financial year may mean actually getting into their first home due to these changes, however the risk lies in that people may borrow more than is sustainable or what they can afford to hold should interest rates start to climb.
I think it’s a good initiative and one that incentivises people to get into a property sooner, with time in the market being the key here, as long as one buys well.
Speculation that other states will have to follow suit or that we will see a back-lash of price increases because of this move by the Victorian State, will only be answered by time.
Marion Mays is the founder/director of Thalia Stanley Group and can be contacted <a href="https://www.thaliastanley.com.au" target="_blank">here</a>.
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Victorian first home buyers set to win – or are they? Marion Mays

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GUEST OBSERVER
If you gave ancient Romans iPhones, it would blow their minds… but if you took them to a modern construction site they would get it – for, thousands of years ago, they too built in concrete and brick as well as stone.
Today, about a third to half of the carbon emissions associated with a building over its lifecycle comes from creating the materials used to build it, but developers, builders and architects have been reluctant to change.
The solution doesn’t have to be invented. It already exists, in the form of modern engineered timbers. Unlike conventional materials, sustainably sourced engineered timber actually stores carbon. Engineered timbers are also cheaper, faster to build and can be pre-cut in factories, so there is less time lost to weather and safety risks are easier to control. The resulting buildings are sturdy, safe and well insulated.
In a world where housing affordability is an issue, where homelessness is a problem and where climate change is a real threat, I see engineered timbers in mid-rise apartments as being the future of building in urban areas.
Compared to tall towers, mid-rise building in cross laminated timber (CLT) – sometimes referred to as plywood on steroids – has a number of environmental advantages.
Tall buildings are highly inefficient. When you’ve got a tall tower, you’ve got to pump water up great heights, you need cooling as there’s no natural shade and they’re also often badly insulated and acoustically poor because developers cut costs by building in lightweight materials.
And a whole lot of tall towers together leads to poor urban spaces, which would be far better built at between seven and 12 storeys.
The problems are not just practical. We’re living in an age where many architects strive to achieve a design that is amazing, incredible and completely different – (translation: they draw a funny shape and give it to an engineer to work out how to build).
Sometimes it’s better to keep it simple, and make sure that the bedroom has a window and that you can get to the staircase and so on. Simplicity can have its own beauty, particularly when you’re building in timber. Architects also need to think about the construction material and incorporate this in the initial design stage.
In the UK, there are now about 500 buildings made of CLT, including civic spaces, schools and housing complexes. That number is set to explode.
There are currently three factories on the drawing board that will create modular CLT housing in the UK alone, and the largest of these is being designed to produce 5000 homes a year – at a cost of about 20 per cent cheaper than conventional materials.
I’ve also designed the world’s largest (by volume) CLT housing complex, Dalston Lane, in the UK, which is currently under construction. The ten-storey, 121-unit development is made entirely of CLT, from the external, party and core walls, through to the floors and stairs, weighing a fifth of a concrete building of this size, and reducing the number of deliveries during construction by 80 per cent.
Meanwhile, the record for tallest mass timber building – containing engineered timbers other than CLT – is constantly growing and currently sits at around 18 storeys in height.
In Australia, CLT has been successfully used, but is not as common as in the UK. That may change with a recent update in the construction code making it easier to build mid-rise CLT buildings – and with the imminent opening of Australia’s first CLT factory, meaning the material will no longer have to be import_ed.
There are a number of ways governments can help promote the use of timber, including:
Policies promoting a reduction in carbon emissions from buildings – regardless of building material
Timber first policies, which are used in many countries to ensure that timber should be considered as a building material in any public building project before design begins
Commissioning public buildings, including social housing, in engineered timbers to help increase industry knowledge and support local manufacture of CLT
Introduction of a carbon tax
However, in the UK, CLT has taken off without much in the way of government promotion because the business case for it is so compelling, and the environmental benefits a bonus.
Andrew Waugh is a founding director of Waugh Thistleton and can be contacted <a href="https://waughthistleton.com/" target="_blank">here</a>.
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Tall towers are not the answer to environmental challenges: Andrew Waugh

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A family estate at Wahroonga has been sold for $2.6 million.
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-wahroonga-124603614" target="_blank">7 Wyeena Close</a> the property was offered for the first time in 66 years.
It has a classic mid century modern design influenced by Harry Seidler.
It features a vast family room, lounge and dining around a standstone fireplace as well as an outdoor alfresco entertaining area with a garden at the rear.
There are five bedrooms, three of them having built-in wardrobes, and two bathrooms.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/08/7%20Wyeena%20Close-2.jpg" alt="">
It is situated in a quiet cul-de-sac address marketed with opportunity to subdivide.
The property was offered through McGrath agents Alex Mintorn and Domenic Maxwell.
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Wahroonga mid-century design estate sold for $2.6 million

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<img src="https://counter.theconversation.edu.au/content/70038/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Sitting at home in the recent heat, your mind may start to wander to that fancy new air conditioner. 
But when it comes to making your house comfortable and sustainable, prevention is better than cure. By prevention we mean simple retrofits that will set you on the path to comfort and sustainability. 
As we spend more than ever on maintaining and improving our homes, we’re also becoming more aware of how their design and use impact on our health and society. Add to this climate change and rising energy costs. 
There are many ways to reduce energy and stay comfortable. Numerous reports suggest it should be possible to reduce your energy use by 50-80 percent using existing and available materials and appliances.
Appliance are the easy bit, and you can find the most efficient appliances using energy star ratings. But before you go out and buy that air conditioner, consider the following principles that can help you decide what you need to create a comfortable home. 
<h2>Prevention better than cure</h2>
For a long time the perfect “room temperature” was considered to be around 21℃. But we now understand that as humans we like temperature variations rather than vanilla indoor environments.
As explored in Lisa Heschong’s book Thermal Delight in Architecture(1979), most of us are not looking for a beige thermal environment after all. So to start with, we need a change in attitude. Bring back the cardigan for winter and the shorts for summer! 
The next point is basic knowledge about your climate zone. For instance, in Melbourne there are more heating days (159) than cooling days (35). So, if you are retrofitting in summer, remember the main annual task is actually letting the sun in in winter.
Even with climate change, Melbourne will still require heating on more days than cooling for decades to come, whereas in Brisbane the priority is keeping out the heat and catching the breeze. 
So Melbourne homes need reversible sunblock. You can use plants with seasonal foliage to shade summer windows, or temporary techniques like temporary sail shades or movable window awnings can work. Plants can also cool outdoor spaces through evapotranspiration, which helps combat the growing “urban heat island” problem and makes the backyard a more pleasant place to be.
Despite some bad press over the years, insulating ceiling, floors and walls where possible remains the best way to address 50-80% of heat gains/losses. In many homes ceiling insulation is cheap and easy to fit and can even be topped up. Insulated homes have also been found to perform better during extreme weather events and are quieter, more comfortable and natural places to be.
In summer sun, black roofs are bad news. Coating surfaces can reflect excess heat. Coating technology has been employed in paint products for your walls and roofs, and is also being developed in landscaping materials for the backyard.
Single-glazed windows are responsible for 10-35% of heat gains/losses in our homes. A range of double-glazed window products is now available, or you can even get a secondary glass pane to place over existing windows. 
Double-glazed (or triple-glazed) homes are more comfortable in extreme weather, and are also quieter and more comfortable. Add drapes and blinds for added temporary use to keep out sun or keep in warmth when needed.
While these preventive passive measures might seem basic, the fact is that (a) technologies, markets and pricing are changing rapidly, so it makes sense to be open to new retrofitting ideas and products; and (b) comfort remains the big-ticket item and it will only get more so as climate change affects all of our homes. Addressing this first will reduce the requirement for other technologies and appliances.
<h2>The principles of retrofitting</h2>
Another area of technology progress is digital data systems to monitor indoor energy services. Energy supplier portals, temperature loggers and smartphone apps are now widely available.
For the more enthusiastic, if you buy a couple of temperature loggers and place one in your main living area and one in your main bedroom you can collect data at intervals as small as one second. You can use this data to identify how your house is performing and how you are using it. More importantly, you can satisfy yourself that the retrofit you’ve just paid for has made a difference.
We’ve only covered a few focus areas in this article. There are many good options we haven’t dealt with. However, we propose three principles for any retrofit project:
<ol>
<li>
prioritise big-ticket items (such as thermal comfort) – what do you need most and what uses the most energy? – to plan and design around your climate zone and home needs
</li>
<li>
prevention is better than cure – focus on passive elements before turning to appliances
</li>
<li>
diversity is better than standardisation – don’t aim for 21℃, aim for controllable comfort, openable windows and adjustable systems room by room. Design in easy adjustment through movable technologies such as fans, curtains, plants and shades.
</li>
</ol>
With all the hard work done, it’s time to sit back and enjoy the new indoor environment, but be aware that, as with our climate, our conventions, routines and expectations of comfort are constantly changing. 
Some argue for evidence of a comfort dividend, where occupants of newly eco-retrofitted homes increase their use of heating or cooling appliances (or both). 
Undoubtedly, as consumption patterns change and social standards shift, we will need to adjust our eco-retrofit priorities. Homes are not just a material work in progress, but are sites of social and cultural life after all.
 
Trivess Moore is research Fellow, RMIT University and can be contacted <a href="https://theconversation.com/profiles/trivess-moore-12580" target="_blank">here</a>.
Andrew Carre is lecturer, RMIT University and can be contacted <a href="https://theconversation.com/profiles/andrew-carre-321635" target="_blank">here</a>.
Ralph Horne is deputy pro vice chancellor, Research &amp; Innovation; Director of UNGC Cities Programme; Professor, RMIT University and can be contacted <a href="https://theconversation.com/profiles/ralph-horne-160543" target="_blank">here</a>. 
All authors for The Conversation.
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Thinking about a sustainable retrofit? Here are three things to consider

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Joel Robinson

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

[smartcode_project:default project_id=135094 project_image_fid=356540]

Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

[smartcode_project:default project_id=150787 project_image_fid=366230]

While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

[smartcode_project:default project_id=143932 project_image_fid=367515]

The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

[smartcode_project:default project_id=150017 project_image_fid=370960]

ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

SEQ apartment demand outpacing affordable supply as construction timelines stretch: RPM

Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.

For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.

Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.

In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.

Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.

[smartcode_project:default project_id=4896 project_image_fid=368543]

The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.

That process has culminated in approval for Camberwell House.

The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.

It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.

[smartcode_project:default project_id=4896 project_image_fid=368544]

Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

[smartcode_project:default project_id=4896 project_image_fid=368568]

Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

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Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

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Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
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Jonathan Chancellor

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