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Whether entertaining, dining or just admiring the view, stunning vistas are a great addition to residents’ quality of life.

Beautiful panorama's not only provide gorgeous eye candy but are also a significant value addition to many properties.

Here are eleven properties in Victoria with incredible urban vistas

1. 661 Chapel Street 
Address: 661 Chapel Street, South Yarra VIC 3141 
Two-bedroom apartments from $798,000

[smartcode_project:default project_id=600]

<a href="/buildings/661-chapel-street-661-chapel-street-south-yarra"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/661_chapel_street_vista.jpg"></a>

Gamuda Land's 661 Chapel Street is one of Melbourne’s latest luxury developments with 116 one, two, three and four-bedroom residences available across 30 floors.

Sales are well underway on the bird de la Coeur architects designed project, which was completed last year, with local and international buyers snapping up the apartments quickly.

Situated beside the Yarra River, 661 Chapel Street enjoys views of the river, Melbourne CBD and the Bay.

Among its extensive hotel-inspired resident amenities, it boasts a winter garden, 25-metre pool and members’ lounge; all of which you can enjoy a stunning view from.

2. Canvas 
Address: 272 Barkly Street, Brunswick VIC 3056 
Two-bedroom apartments from $680,000

[smartcode_project:default project_id=29358]

ID_Land’s latest Brunswick development, Canvas offers residents a premier home with breathtaking vista's.

Designing a building offering a collection of 62 one, two and three-bedroom apartments, Rothelowman Architects has placed people at the cornerstone of their design.

Located on the building’s rooftop sits a variety of communal spaces providing residential amenity and green spaces, with views of Melbourne’s city skyline and parks.

Canvas lies in the heart of Brunswick’s vibrant community with sweeping views over both the horizon as well as retail hotspots, diverse eateries and bustling bars that are just a short walk away.

3. Moreville 
Address: 12-18 Napier Street, Footscray VIC 3011 
Two-bedroom apartments from $595,000

[smartcode_project:default project_id=2060]

<a href="/buildings/moreville-12-18-napier-street-footscray" target="_blank"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/moreville_vista.jpg"></a>

Sering development's Moreville, is one of Urban’s latest Footscray development, with 43 apartments on offer in two and three-bedroom configurations, priced from $525,000 and $1,128,000 respectively.

Designed by Moull Murray Architects, the six-storey building offers numerous amenities, including an al fresco coffee shop, rooftop residents’ lounge and barbeque terrace with views to the Melbourne city skyline.

Set in a quiet tree-lined street just 500-metres from Footscray train station, Moreville offers both pleasing scenery and the height of convenience.

4. Seafarers 
Address: 731 Flinders Street, Docklands VIC 3008 
Two-bedroom apartments from $1,195,000

[smartcode_project:default project_id=27728]

<a href="/new-apartments/seafarers-docklands-731-flinders-street-docklands"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/seafarers_vista.jpg"></a>

Delivered by Riverlee, Seafarers offers a boutique collection of 123 sublimely crafted one, two and three-bedroom residences.

Designed by Fender Katsilidis and partnering with Australia’s first 1 Hotel, Seafarers offers both panaromic city vista and hotel style amenities.

Situated on 220-metres of uninterrupted riverfront, residents benefit from sweeping views from the Yarra to Port Phillip Bay at Docklands’ Seafarers.

It is set for completion in 2023.

5. Verre 
Address: 296 Plenty Road, Preston VIC 3072 
Three bedroom residences from $815,000

[smartcode_project:default project_id=7275]

Located in Melbourne’s Preston, Verre is the latest offering from Wolf&amp;Lamb.

The Chamberlain Architects designed residences are an entertainers’ delight. Large balconies connect the living room to the outdoors and a rooftop terrace offers a space to host friends or relax against the Melbourne city skyline.

Situated in the heart of Preston, Verre which holds sweeping cityscape views is set for completion in early 2022.

One bedroom apartments are available from as low as $385,000.

6. Melbourne Grand 
Address: 560 Lonsdale Street, Melbourne VIC 3000 
Two bedroom residences from $569,000

[smartcode_project:default project_id=3490]

<a href="/buildings/melbourne-grand-560-lonsdale-street-melbourne" target="_blank"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melbourne_grand_vistas.jpg"></a>

Just completed &amp; ready to move in, Melbourne Grand offers stunning city views &amp; outstanding living experience rising 58 storeys above the CBD. Just a short walk to Queen Vic Market, Southern Cross Station &amp; Flagstaff Gardens.

Delivered by Central Equity, the Guildford Bell and Graham Fisher Architects designed project comprises 652 gorgeous residences. Each with access to resort style amenities and cityscape views.

The award winning development represents builder Multiplex’s 18th project for developer Central Equity.

7. Parkhill Apartments 
Address: 408 Spencer Street, West Melbourne VIC 3003 
Two bedroom residences from $619,000

[smartcode_project:default project_id=27406]

<a href="/buildings/parkhill-apartments-west-melbourne-408-spencer-street-west-melbourne"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/parkhill_vista.jpg" style="width: 621px; height: 398px;"></a>

A great example of an affordable brand-new apartment building with the added bonus of on-site amenities, is Central Equity's latest development, Parkhill Apartments.

Defined by its stylish apartment designs and compelling CBD fringe location, the project is selling now at a very competitive pricepoint compared to properties akin to Parkhill in the West Melbourne area.

Amenities include a rooftop gym and relaxing rooftop garden, complete with BBQs and outdoor seating, all of which display stunning vista's over the Melbourne skyline.

Plus for a limited time, owner-occupier buyers can save up to $73,000 thanks to the HomeBuilder Grant, stamp duty savings and developer incentives. All you have to do is check you meet the eligibility criteria.

8. K1 Residences 
Address: 1 Union Street, Melbourne VIC 3004 
Four bedroom residences from $2,590,000

[smartcode_project:default project_id=2772]

Setting a new benchmark for luxury residences in Victoria, K1 Residences offers buyers the chance to secure a bespoke, whole-floor residence with panoramic views.

The calm and picturesque neighbourhood sits minutes from Albert Park Lake, St Kilda and Prahran.

Delivered by Optimus Developments, the distinctive building boasts 13 four-bedroom apartments, offering warm sophistication and timeless beauty.

With moody tones, 360-degree views and French oak, K1’s home-sized residences sacrifice nothing. Designed by DE atelier Architects and Bergman &amp; Co., the homes include spacious garden balconies, floor-to-ceiling windows and doors and oversized bathrooms.

It is set for completion in the upcoming few months.

9. Melbourne Square 
Address: 93-119 Kavanagh Street, Southbank VIC 3006 
Two bedroom residences from $642,000

[smartcode_project:default project_id=2929]

<a href="/buildings/melbourne-square-93-119-kavanagh-street-southbank"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melbourne_square_vista.jpg" style="width: 672px; height: 406px;"></a>

OSK Property have recently launched a brand new boutique collection of homes at Melbourne Square.

Featuring four distinct design themes, it has been architecturally designed by Cox Architecture, with interiors by designer Sue Carr, creating flawless spaces which make the most of the spectacular city views on offer.

Each bedroom boasts a stunning view of the city via floor-to-ceiling glazing, plus master suites offer a unique panoramic city vista.

Set for completion in mid 2021, amenities include a full-line Woolworths and other shops as well as resort-style facilities including pools, sauna, spa, gymnasium and a yoga room.

10. Voyager 
Address: 103 South Wharf Drive, Docklands VIC 3008 
Two bedroom apartments from $706,500

[smartcode_project:default project_id=3494]

Dominating the Docklands skyline Mirvac’s latest development is among Melbourne’s most chic high-rise residential towers.

The 43-storey building is thoughtfully designed and luxuriously appointed, boasting 315 contemporary apartments in one, two and three-bedroom configurations.

Voyager offers panoramic city and water views, sleek floor-to-ceiling windows and the precinct’s first-ever rooftop lifestyle space, with skydeck and bar.

It is the latest tower in Yarra’s Edge, Mirvac's Docklands master planned community with vast parklands, and over 1,000 square metres of fine dining and retail that line the serene harbour boardwalk.

11. R. Iconic  
Address: 253-273 Normanby Road, South Melbourne VIC 3205 
Two bedroom apartments from $722,500

[smartcode_project:default project_id=5234]

<a href="/buildings/r-iconic-south-melbourne-259-normanby-road-south-melbourne"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/r_iconic_vista.jpg" style="width: 771px; height: 403px;"></a>

This $850 million development from R.Corporation has been designed by Plus Architecture with the owner-occupier in mind.

Featuring amenities offered nowhere else, like an infinity running track and whiskey bar, all while holding protected water views which are guaranteed to remain thanks to its locality and planning footprint.

A prime park front location between the city and the water, R. Iconic sits adjacent to the highly sought after Albert Park, Middle Park and South Melbourne suburbs, and only 2 km from the Melbourne CBD.

Construction of R.Iconic is underway, with completion estimated for 2022.
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Beautiful panorama's not only provide gorgeous eye candy but are also a significant value addition to many properties

jordan_55689

Check out 11 apartments in Melbourne with incredible city views

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EXPERT INSIGHT

The records have continued to tumble for the Aussie property market in early 2021. National home prices surged 2.1 per cent in February – the most since August 2003. Regional home prices also gained 2.1 per cent – the most in 17 years. And capital city home prices rose by 2.0 per cent – the biggest lift since September 2003.

Home prices are at record highs in Canberra, Adelaide, Brisbane and Hobart. Canberra home prices (up 1.9 per cent) rose the most in 13½ years; Perth home prices (up 1.55 per cent) lifted the most in 14 years; Brisbane home prices (up 1.5 per cent) gained the most in 13 years; and Hobart home prices (up 2.5 per cent) surged the most in 17 years. And it was the biggest lift in Sydney home prices (up 2.5 per cent) and Melbourne (up 2.1 per cent) since late 2019. 

But it’s regional Aussie housing markets – benefiting from lifestyle choices, remote working arrangements, internal migration, closed borders and better affordability – that are seeing massive price gains during the pandemic. Regional home prices climbed by 2.1 per cent in February – the biggest lift in 17 years. Regional home prices surged 9.4 per cent in the year to February – the strongest annual growth rate in 16½ years. CoreLogic data also shows that median home prices are at record highs in 53 of the 88 SA4 regions with just Townsville (down 0.6 per cent) and the NSW Riverina (down 0.3 per cent) posting price declines in February.

<img alt="" height="961" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/commsec_house_lift_figures.jpg" width="1200">

Can home prices lift further from here? Absolutely. Preliminary CoreLogic capital city auction clearance rates hit 81.9 per cent last weekend with buyers keen to borrow to upgrade or buy another home.

The smaller capital cities are leading home price gains with Sydney and Melbourne still lagging. In fact, dwelling prices in Sydney are still 1.1 per cent below the July 2017 peak and Melbourne home prices are 1.7 per cent below the March 2020 peak. And resources boom towns – Perth and Darwin – still have a lot of catching up to do. In fact, Perth home prices are still a huge 17.4 per cent below the June 2014 peak and Darwin prices are 23.4 per cent below the April 2014 peak.

While slower population growth and rising supply of detached houses could slow price momentum, Commonwealth Group (CBA) economists forecast national home prices to lift by around 8.0 per cent in 2021. 

<h2>What do the figures show?  </h2>

Home prices – February 2021

The CoreLogic Home Value Index of national home prices rose by 2.1 per cent in February to be 4.0 per cent higher over the year. 

In capital cities, prices rose by 2.0 per cent to be up 2.6 per cent over the year. House prices climbed 2.3 per cent and apartment prices rose by 1.1 per cent. House prices were up 3.6 per cent on a year ago, but prices of apartments decreased by 0.1 per cent.

In regional areas, home prices jumped 2.1 per cent with house prices also up 2.1 per cent and apartment prices up by 1.9 per cent. Regional home prices were up 9.4 per cent on the year with houses lifting 9.7 per cent and apartments up 7.9 per cent.  

The average Australian capital city house price (median price) in February was $723,607 and the average unit price was $581,652.

Home prices were higher in all eight capital cities in February: Sydney (+2.5 per cent); Melbourne (+2.1 per cent); Brisbane (+1.5 per cent); Adelaide (+0.8 per cent); Perth (+1.5 per cent); Hobart (+2.5 per cent); Darwin (+0.7 per cent); Canberra (+1.9 per cent).

Home prices were higher than a year ago in seven of the eight capital cities in February: Sydney (+2.8 per cent); Melbourne (-1.3 per cent); Brisbane (+5.0 per cent); Adelaide (+7.3 per cent); Perth (+4.6 per cent); Hobart (+8.7 per cent); Darwin (+13.8 per cent); Canberra (+9.7 per cent).

Total returns on national dwellings rose by 7.6 per cent in the year to February with houses up 8.5 per cent and units up by 5.0 per cent on a year earlier. In contrast, the S&amp;P/ASX All Ordinaries Accumulation Index rose by 9.6 per cent over the year to February.

<h2>Conclusion</h2>

Australia’s property market is strong, driven by record-low borrowing costs, government stimulus, low housing inventories and an improving labour market backdrop. Of course, the lift in home prices is good for the household ‘wealth effect’ and consumer confidence – pivotal for continued retail spending. The lift in home building supports jobs in the construction sector with ‘brickies’ in short supply. But housing affordability is becoming an issue with Sydney the third least affordable and Melbourne the sixth least affordable housing markets according to recent reports from Bloomberg, Urban Reform Institute and Frontier Centre for Public Policy.

That said, the Reserve Bank’s private sector credit or loans data released last Friday suggests that housing sector credit growth (up 3.6 per cent over the year to January 2021) remains subdued when compared with historic levels. CBA Group economists expect housing credit growth to remain low and do not expect macro‑prudential policies to be implemented in 2021. But the lift in household mortgage debt will unnerve policymakers.

Australia’s factory sector is in good shape. According to the AiGroup, production rose to multi-decade highs in February. The AiGroup gauge hit 3-year highs with surveyed purchasing managers suggesting that government stimulus is driving up demand as the economic recovery gains traction.
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Biggest lift in Australian home prices in 17 years: CommSec's Ryan Felsman

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<h2>What is Stamp Duty?</h2>

Stamp duty, or land transfer duty as it’s known in Victoria, is a once-off government tax on buying property payed by the purchaser. It is based on the purchase price and calculated via a scale, in a similar manner to income tax.

However, these standard rates don’t apply to all property purchases, particularly first home owners and foreign buyers.

Pictured below is a full tabulation of how transfer duty is calculated in Victoria.

<img alt="" height="246" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/stamp_duty_guide_vic.jpg" width="786">

<h2>Stamp duty on foreign purchasers</h2>

However, these rates don’t apply to all buyers or all types of property purchases. Foreign purchasers often have to pay additional duty of up to seven percent.

You can read more about the stamp duty provisions affecting foreign purchasers on the <a href="https://www.sro.vic.gov.au/foreignpurchaser" target="_blank">State Revenue Office website</a>.

<h2>Stamp Duty exemptions for first home buyers</h2>

The Victorian government’s current policy as of 2017 is the complete exemption of stamp duty for first home owners purchasing a property valued at up to $600,000. A saving of up to $31,070.for first home buyers.

For first home buyers purchasing a home valued between $600,001 and $750,000 a concessional rate of stamp duty applies.

Unlike the NSW First Home Owner Grants (FHOG), the stamp duty concession and exemption apply to all property types.

<h2>Other Stamp Duty exemptions and concession</h2>

Victoria also provides a concession to all purchasers of properties valued between $130,000 and $550,000 from paying stamp duty where they intend to use that property as their principal place of residence.

The rate of concession equates to a one percent reduction for all properties valued between $130,000 and $440,000 and a flat reduction of $3,100 for properties valued between $440,001 and $500,000.

There is also a “principal place of residence (off the plan concession)”, which only people purchasing an off the plan property they intend to use as their home are eligible and a threshold applies to the dutiable value of the property. This is $550,000 for non-first home buyers and $600,000 (for an exemption) $750,000 (for a concession) for first home buyers.

The Victorian government also provides a stamp duty exemption to pensioners buying a home valued at under $330,000 and a concessional rate to pensioners buying a home valued between $330,001 and $750,000.

Below are some properties eligible for stamp duty exemptions in Victoria:

1. Melbourne Quarter, Docklands 
Address: 628 Flinders Street, Docklands VIC 3008 
One-bedroom apartment from $458,000

[smartcode_project:default project_id=3459]

2. Live City, Footscray 
Address: 124-188 Ballarat Road, Footscray VIC 3011 
Two-bedroom apartments from $460,000

[smartcode_project:default project_id=3565]

3. Melbourne Grand, Melbourne 
Address: 556-558 Lonsdale Street, Melbourne VIC 3000 
One-bedroom apartments from $489,000

[smartcode_project:default project_id=3490]

 

Click here to view <a href="/news/vic/save-thousands-melbourne-apartments-you-can-buy-without-paying-stamp-duty" target="_blank">six homes in Melbourne you can purchase without paying stamp duty</a>.
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Stamp duty, or land transfer duty as it’s known in Victoria, is a once-off government tax on buying property payed by the purchaser

What is stamp duty? A guide to stamp duty in Victoria

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<h2>What is Stamp Duty?</h2>

Stamp duty, or transfer duty as it’s known in NSW, is a once-off government tax on buying property payed by the purchaser. It is based on the purchase price and calculated via a scale, in a similar manner to income tax.

However, these standard rates don’t apply to all property purchases, particularly first home owners and foreign buyers.

Pictured below is a full tabulation of how transfer duty is calculated in NSW.

<img alt="" height="821" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/transfer_duty_nsw.jpg" width="1600">

<h2>When to pay Transfer Duty</h2>

You must pay transfer duty within three months of signing a contract for sale or transfer, except in the case of off-the-plan purchases.

If you buy off-the-plan and you intend to live in the property, you may be able to defer your transfer duty liability for up to 12 months.

[smartcode_project:default project_id=32227]

<h2>Recent Stamp Duty News</h2>

Recently the New South Wales Government announced it would provide duty and land tax incentives for qualifying "build-to-rent projects". 

The incentives include, an exemption from "surcharge purchaser duty" (the foreign investor duty surcharge on residential property).

The concessions are offered for a maximum period of 20 years, expiring in 2040.

[smartcode_project:default project_id=24323]

<h2>Stamp Duty exemptions</h2>

The NSW government’s current policy as of 2017 is the complete exemption of stamp duty for first home owners purchasing a property valued at up to $650,000. A saving of up to $24,470 for first home buyers.

For first home buyers purchasing a home valued between $650,001 and $850,000 a concessional rate of stamp duty applies.

Unlike the NSW First Home Owner Grants (FHOG), the stamp duty concession and exemption apply to all property types.

[smartcode_project:default project_id=7317]

Check out the <a href="https://www.revenue.nsw.gov.au/taxes-duties-levies-royalties/transfer-duty" target="_blank">NSW Government Website more information on NSW Transfer Duty</a>
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Stamp duty, or transfer duty as it’s known in NSW, is a once-off government tax on buying property payed by the purchaser

What is stamp duty? A guide to stamp duty in New South Wales

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Experts and economists are united in their view that the RBA will hold the cash rate this month, with only one prediction for any movements at all in 2021, according to the latest survey from Finder.com.au.

Tony Makin of Griffith University, believes the rate will increase this year due to the economic effects of the COVID-19 vaccination rollout.

“Global economic activity will pick up as countries are vaccinated. Given the expansion in money supplies, other things equal this will put upward pressure on inflation. Otherwise, macroeconomics textbooks need to be rewritten. 

“At the same time, record-breaking levels of public debt worldwide will continue to exert upward pressure on bond yields," Makin said.

Shane Oliver from AMP Capital said that while the economy has recovered faster than expected, the RBA is still a long way away from meeting its inflation and employment goals. 

“A rate hike is still a long way away. 

“That said, the faster than expected recovery will likely see the first hike occur earlier than the RBA's expectation of ‘no increase before 2024’. It could come late next year or early 2023," Oliver said.

Positive sentiment around both housing affordability (3%) and cost of living (3%) reached the lowest level ever recorded since the Finder survey began in 2018.

Employment continued to be the highest indicator measured with 55% expressing positive sentiment, down from its record-high of 73% last month.

Positive sentiment around employment plummeted to 0% in April when the lockdowns first began, but the nation’s stronger-than-expected economic recovery has resulted in a rosier outlook for the job market. 
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Experts and economists are united in their view that the RBA will hold the cash rate this month, with only one prediction for any movements at all in 2021

Experts and economists forecast a cash rate lockdown until 2022

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There were 2,839 properties for rent in Perth at the end of February, according to reiwa.com data.

"This marks the sixth consecutive month we’ve seen listings sit below 3,000. Perth desperately needs an influx of rental stock in the market to provide renters with more housing options,” REIWA president Damien Collins said.

Perth’s median rent price held at the five year high of $400 per week in February, which is on par with January and $40 more per week than February 2020.

Reiwa.com data shows 258 Perth suburbs saw an increase in rent during February. The suburbs with the biggest increase in median rent were Subiaco (up $23 to $723), Scarborough (up $20 to $520), Ellenbrook (up $10 to $370), Belmont (up $10 to $380) and Greenwood (up $10 to $410).

There were 186 Perth suburbs that recorded an increase in leasing activity during the month.

Beeliar saw the biggest increase in leasing, with activity up 29 per cent in February compared to January. Other suburbs to perform well were Innaloo (up 22 per cent), Greenwood (up 14 per cent), Gosnells (up nine per cent), Rivervale (up eight per cent) and Canning Vale (up four per cent).

It took a median of 19 days for a lessor to find a tenant for their property in February.

“Median leasing days are the lowest they have been since June 2013. Like we are seeing in the sales market, with so few available listings, tenants are having to act very quickly to secure a rental,” Mr Collins said.

“Perth is in desperate need of more rental stock to help ease the rental shortage. In order to do this, we need to entice investors back to the market."

“While the end of the rental moratorium later this month will remove one of the barriers for investors, more needs to be done to encourage residential property investment in WA and ensure there are enough rentals in the market to keep up with tenant demand,” Mr Collins concluded.

<h2>Perth properties on the market:</h2>

[smartcode_project:default project_id=7854]

[smartcode_project:default project_id=8515]

[smartcode_project:default project_id=8514]
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There were 2,839 properties for rent in Perth at the end of February, and with a median 19 days for a property to be leased, the market desperately needs a supply boost

Perth's leasing market is facing a supply shortage crisis

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Perth's for sale listings dropped to a 10 year low in February, with just 7,899 properties listed on reiwa.com at the end of the month.

REIWA President Damian Collins said this was the seventh consecutive month listings for sale had declined in Perth.

“We’ve seen an extraordinary decline in listing volumes in a relatively short amount of time. In the span of a year, listings have dropped 36.5 per cent to now sit below 8,000 for the first time in about a decade. Buyers are very active in the market and soaking up stock at a rapid pace,” Mr Collins said.

The median time to sell a property sits at just 21 days in February. This is on par with January, but 25 days quicker than it was in February 2020.

"The last time we saw houses sell this fast was 2006,” Mr Collins said.

“It’s a hot market and buyers are understandably feeling pressure to make a swift decision. While it’s important to act fast on a property you’re interested in, I encourage buyers to use caution and not panic buy or get themselves into a situation where they pay over and above what the property is worth."

He mentioned that while property prices have increased in the last six months, they remain below what they were five years ago so there are still good deals to be had.

The rental market is performing similarly with just 2,839 properties for rent in Perth at the end of February.

This marks the sixth consecutive month were listings sit below 3,000. Mr Collins said Perth desperately needs an influx of rental stock in the market to provide renters with more housing options.

Perth’s median rent price held at the five year high of $400 per week in February, which is on par with January and $40 more per week than February 2020.

<h2>Perth properties on the market:</h2>

[smartcode_project:default project_id=7854]

[smartcode_project:default project_id=8515]

[smartcode_project:default project_id=8514]
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Perth's for sale listings dropped to a 10 year low in February, with just 7,899 properties listed on reiwa.com at the end of the month

Perth listings continue to drop reaching a 10 year low in February

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The disparity in rental markets across Australia has been extreme. At one end of the spectrum we have extremely tight rental conditions in cities such as Perth and Darwin where both house and unit annual rental growth is above 10%. At the other end are the unit rental markets of Sydney and Melbourne where rents have plunged over the last year, down -5.3% in Sydney, and -8.0% lower in Melbourne. In a similar vein to housing values, rental markets are stronger within the detached housing sector relative to the unit sector.

“The strength in Perth and Darwin’s rental sector can be attributed to a mix of low supply, due to a recent history of low investor participation, and rising demand as interstate migration trends move into positive territory. The opposite trends in Sydney and Melbourne have seen rental markets weaken; higher rental supply due to a recent history of investor exuberance, weaker demand from negative interstate migration and, more recently, a demand shock from closed international borders where Melbourne and Sydney were the primary recipients of migrant arrivals,” Mr Lawless said.

However, the weak conditions across Sydney and Melbourne unit markets look to be turning. Sydney’s rental index for units has recorded two successive months of mild rises, while Melbourne unit rents edged higher in February after falling for nine of the previous ten months. The improvement in unit rents across Australia’s two largest cities is likely to be at least partially seasonal as demand from domestic students generally rises early in the year, but could also be attributable to more people returning to work in the inner cities as well as workers in some of the hardest hit industries such as hospitality, food and accommodation services returning to employment.

Until international borders re-open and migration rates return to their pre-COVID levels, a more substantial improvement in inner city apartment rents is unlikely.

<img alt="" height="342" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/rental_market_feb.jpg" width="583">

Weaker rental conditions in Sydney and Melbourne relative to rising home values is evident in the gross rental yields, with yields across both cities falling to fresh record lows in February. Gross rental yields in Sydney were recorded at 2.9% at the end of February, while in Melbourne yields averaged 3.0%. Every other capital city is recording gross rental yields around the mid-4% mark or higher, implying positive cash flow opportunities are more likely in these markets.

Australian home values surged 2.1% higher in February; the largest month-on-month change in CoreLogic’s national home value index since August 2003. Spurred on by a combination of record low mortgage rates, improving economic conditions, government incentives and low advertised supply levels, Australia’s housing market is in the midst of a broad-based boom.

Housing values are rising across each of the capital city and rest of state regions, demonstrating the diverse nature of this housing upswing.

According to CoreLogic’s research director, Tim Lawless, a synchronised growth phase like this hasn’t been seen in Australia for more than a decade. “The last time we saw a sustained period where every capital city and rest of state region was rising in value was mid-2009 through to early 2010, as post-GFC stimulus fueled buyer demand.”

Sydney and Melbourne were among the strongest performing markets, recording a 2.5% and 2.1% lift in home values over the month respectively, as Australia’s two largest cities caught up from weaker performance through 2020. The quarterly trend however, is still favouring the smaller cities; Darwin housing values rose 5.5% over the past three months, Hobart values rose 4.8% and Perth was up 4.2%.

“Whether this new found growth in Sydney and Melbourne can be sustained is unclear. Both cities are still recording values below their earlier peaks, however at this current rate of appreciation it won’t be long before Australia’s two most expensive capital city markets are moving through new record highs. With household incomes expected to remain subdued and stimulus winding down, it is likely affordability will once again become a challenge in these cities,” Mr Lawless said.

A housing market trend that has persisted through the COVID period to-date is the weaker performance of unit markets relative to detached housing. Across CoreLogic’s combined capitals index, house values (+4.4% over the past three months) have recorded a growth rate more than three times higher than that of its unit counterparts (+1.4%). There are some tentative signs this trend could become less obvious, with Sydney unit values recording their first month of growth since April last year and Melbourne unit values recording their largest gain since late 2019.
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The disparity in rental markets across Australia has been extreme

Unit rents down -8% in Melbourne but soar 10% in Perth and Darwin

Melbourne Quarter is one of the most lavish completed&nbsp;developments located in the&nbsp;heart of&nbsp;Melbourne&rsquo;s vibrant CBD.

As we near the end of the First Home Buyer and HomeBuilder Grant,&nbsp;Urban have put together ten reasons why you might like to consider purchasing a&nbsp;home in&nbsp;the Melbourne Quarter development.&nbsp;

<h2>1. Developed by the Lendlease Group</h2>

The project&nbsp;is being developed by Lendlease, a multinational company headquartered in Sydney, with a&nbsp;very strong track record across Australia, Europe, the Americas and Asia.

They have won a number of awards&nbsp;across numerous Sydney and Melbourne projects and remain one of the&nbsp;most sustainable real estate funds in the world.

<h2>2. International design&nbsp;firm Fender Katsilidis have architected&nbsp;the building</h2>

Fender Katsalidis once a Melbourne-centric architectural practice, and now&nbsp;a highly awarded, multi-disciplinary international design firm is responsible for the architecture of this&nbsp;project among many others.&nbsp;

<a href="/buildings/east-tower-melbourne-quarter-628-flinders-street-docklands"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melbourne_quarter_full.jpg" /></a>

They have their stamp on renowned&nbsp;developments such as&nbsp;Australia 108, Flinders Bank, Fulton Lane and High Society just to name a few.

<h2>3. Three whole floors of resort-style amenities. &nbsp;</h2>

The project includes a hotel-style lobby, concierge and exclusive access to Club MQ, which also means access to the three entire floors of resort-style amenities on offer.

[smartcode_project:default project_id=3459]

<h2>4. The Melbourne Quarter precinct</h2>

Melbourne Quarter offers residents more than just the one East Tower currently on offer. It is a sprawling&nbsp;2.5-hectare site dedicated to public open space, surely to be&nbsp;named Melbourne&rsquo;s greenest city precinct, with a mix of both retail and parkland on offer for residents.

<h2>5. $458,000 is below the Melbourne CBD&#39;s median apartment price</h2>

Home buyers can enjoy a one-bedroom, one-bathroom apartment in the Melbourne Quarter for as low as $458,000, below the $490,000 median apartment value, calculated by realestate.com.au

<h2>6. Range of luxury residences&nbsp;available</h2>

Currently on offer in the Eastern Tower of the Melbourne Quarter&nbsp;is a collection of spacious one and&nbsp;two-bedroom architecturally designed apartments, with a range of price points from $458,000 all the way to a pricier $1,032,000.

<a href="/buildings/east-tower-melbourne-quarter-628-flinders-street-docklands"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melbourne_quarter_apt.jpg" /></a>

<h2>7. Located in the heart of the Melbourne CBD</h2>

Bordered by the renowned Collins and Flinders Streets, Melbourne Quarter offers residents the convenience of living in Melbourne&rsquo;s vibrant CBD at affordable prices for first home buyers or investors.

<h2>8. Nearby developments of a similar quality are more expensive</h2>

For example another development with top of the line amenities, R. Iconic has&nbsp;prices starting from $507,000, across their range of one, two and three bedroom suites.

Or the similarly lavish&nbsp;The Docklands Residences which&nbsp;sits atop a brand new 8-floor Marriott Hotel and offers a number of luxury amenities.

<h2>9. The Melbourne CBD will always be in demand</h2>

The Melbourne CBD has overall managed despite&nbsp;downturn predictions of the market and may have even seen price values grow if not for&nbsp;on and off state-wide lockdowns. In fact a number of economists are extremely optimistic Melbourne prices which are&nbsp;tipped to climb by 8 per cent this year followed by 10 per cent in 2022.

A number of economists predict the battle between banks for new customers and the successful rollout of the coronavirus vaccine may super-charge even the national property market.

<h2>10. Views from your future home</h2>

Many apartments in the&nbsp;Melbourne Quarter hold sweeping views across both the city and skyline.

<a href="/buildings/east-tower-melbourne-quarter-628-flinders-street-docklands"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melbourne_quarter_view.jpg" /></a>

Learn more and <a href="/buildings/east-tower-melbourne-quarter-628-flinders-street-docklands">enquire with Urban&nbsp;about the Melbourne Quarter</a>.

10 reasons to buy a brand new home in the Melbourne Quarter

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As Mirvac’s latest master-planned community, Waverley Park, nears completion, we took a look at what the sustainable and energy-efficient precinct in Melbourne’s Mulgrave has to offer.

The final stage of the community, The Finale, which includes its own picturesque lake, offers three, four and five-bedroom park front homes, a serene extension to your own private front garden.

Designed by Mirvac’s award-winning architects, the boutique range of family homes can be tailored to suit your lifestyle and preferences. 

The six-star energy rated homes boast cross-ventilation and superior insulation, reducing energy use and energy costs. LED lighting, solar hot water and energy-efficient appliances will deliver further savings for residents.

<a href="/buildings/waverley-park-6-goodison-court-mulgrave"><img alt="" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/waverley_park_interiors.png"></a>

The parklands include a variety of play equipment and facilities, including a rock-climbing wall, skate park, gym equipment and a basketball court. Plus have a picnic and take advantage of the shelters, barbecues and communal seating area. 

At the heart of the neighbourhood is the historic Waverley Park Stadium, shopping precinct and oval linked by welcoming streets, a community hub and extremely walkable parklands. Also within walking distance is the Goodlife Health Club, Waverley Park Dental Care, cafes and a village store supplying fresh produce.

[smartcode_project:default project_id=22700]

Five-bedroom residences are priced from $1,245,000, while three-bedroom homes begin at $785,000.

With limited family homes remaining, and only a short drive to the fashion capital, Chadstone, Waverley Place is not one to miss.

To find out more information on Waverley Place, enquire <a href="/buildings/waverley-park-6-goodison-court-mulgrave">here</a>.
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The Finale residence release: What's on offer at Mirvac’s Waverley Park?

<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

Jordan Fidler

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