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The short statement accompanying the RBA's decision to cut the cash rate to 2.5% is "less dovish" but still leaves room for further rate cuts, says HSBC Australia and New Zealand chief economist Paul Bloxham.
He notes that the RBA "did not explicitly indicate that the inflation outlook provided 'scope' for further easing from here, as previous statements had done".
"They did, however, still suggest that the Australian dollar was a bit too high for them to be comfortable.
"Markets are currently pricing in a further cut this year.
"While this is possible, we are of the view that today's cut could be the last for this easing phase, as the lower Australian dollar is doing a lot of the work for the RBA already and is also an upside risk to the inflation outlook.
"With a federal election now due to occur on September 7, it seems highly unlikely that the RBA would cut rates next month (4 days before the election) - meaning the next likely opportunity is October or November.
Between now and October/November we have a local Federal election, on September 7, and there are significant global developments that may have a bearing ont he Australian dollar in particular.
"Further weakness in the Australian dollar may obviate the need for another rate cut, as it would be supportive of growth,"says Bloxham.
<a target="_blank" href="https://homeloans.propertyobserver.com.au/home-loans/?utm_source=Property+Observer+List&amp;utm_campaign=76e226e607-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-76e226e607-245347537"><img alt="homeloancomparison" height="110" width="399" src="/images/stories/2013/08/homeloancomparison.jpg"></a>
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Less "dovish" RBA may pause on further rate cuts: HSBC's Paul Bloxham

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Australia's biggest mortgage lender, the Commonwealth Bank today announced it will reduce interest rates on both its standard variable home loan account and its residentially-secured better business loan by 0.25 percentage points per annum. The new standard variable home loan rate is 5.90% per annum.
The new rates will be effective for new and existing customers on Wednesday, 14 August 2013. 
In making this decision, the Group has continued to balance the interests of its home loan and business borrowers with those of its depositors, and people who either hold shares directly or own shares through their superannuation funds. 
 “The Commonwealth Bank believes this is a balanced decision, and takes into account both domestic and offshore factors," said Matt Comyn, group executive retail banking services at the Commonwealth Bank.
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Commonwealth Bank passes on full rate cut from August 14

<html><body>ING Direct will lower the interest rate on its variable mortgages by 0.25 percentage points, effective Friday 23 August 2013. The RBA cash rate is one element considered however, the bank’s funding position was the driver of the decision, said the lender. ING Direct's most popular variable home loan - the Mortgage Simplifier - will be 5.22% p.a.  It has a mortgage book of $38 billion - making it the fifth biggest mortgage lender in Australia after the major banks. <a href="https://homeloans.propertyobserver.com.au/home-loans/?utm_source=Property+Observer+List&amp;utm_campaign=76e226e607-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-76e226e607-245347537" target="_blank"><img src="/images/stories/2013/08/homeloancomparison.jpg" alt="homeloancomparison" width="399" height="110"></a></body></html>

ING Direct pass on full rate cut from August

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Yellow Brick Road has passed on the full 0.25 percentage point rate cut to its Empower home loan customers.
The franchise group announced it would do so prior to the announcement - if the RBA decided to cut the cash rate.
Yellow Brick Road’s Rate Smasher home loan will reduce to 4.74% per annum and the Empower loan  will reduce to 4.99% per annum.
<a href="https://homeloans.propertyobserver.com.au/home-loans/?utm_source=Property+Observer+List&amp;utm_campaign=76e226e607-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-76e226e607-245347537" target="_blank"><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/stories/2013/08/homeloancomparison.jpg" alt="homeloancomparison" width="399" height="110"></a>
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Yellow Brick Road passes on full rate cut

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National Australia Bank today announced it would cut its standard variable home loan rate by 0.25%p.a. to 5.88%p.a – saving customers an average $62.50 a month in interest.
The rate cut takes effect from August 12.
In an unusually snappy move, the bank took just five minutes from the RBA decision to make the announcement. The decision means no other major bank has offered a lower standard variable rate than NAB for more than four years.
“We’ve today (effective August 12) cut our standard variable home loan rate to 5.88%p.a, which is the lowest it’s been in four-and-a-half years, to give our customers the certainty of a fair deal,” said Gavin Slater, group executive personal banking at NAB. “During the past four years, NAB customers on a typical mortgage have saved up to $2170 in interest on NAB’s SVR compared to being on the SVR of the other major banks – and we’ve led the industry with our Fair Value Agenda. <a href="https://homeloans.propertyobserver.com.au/home-loans/?utm_source=Property+Observer+List&amp;utm_campaign=76e226e607-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-76e226e607-245347537" target="_blank"><img src="/images/stories/2013/08/homeloancomparison.jpg" width="399" height="110" alt="homeloancomparison"></a> 
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NAB cuts standard variable home loan rate to 5.88%

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If the the RBA cuts the cash rate by 25 basis points to 2.5% and this is passed on in full by your lender (provided you have a variable rate home loan) this is what it could potentially mean for you:
$44
If passed on in full, a 0.25 percentage point rate cut represents a repayment reprieve of $44 per month to a variable rate home loan customer with a typical mortgage of $300,000 and paying the average interest rate of 5.64% (before any rate cuts are applied), according to mortgage comparison website RateCity.com.au.
 
23 months
 
Borrowers on the same mortgage terms as above that continue to pay the same monthly amount even if there lender passes on the full rate cut (reducing from 5.64% to 5.39%) will reduce a 30 year loan term to 28 years and 1 month.
10 years
If you have not reduced your home loan repayments since the RBA starting cutting the cash rate in November 2011 - with lenders passing on around 1.6 percentage points out of 1.75 cut from the cash rate - you would reduce your mortgage repayment term by around 10 years, according to Scott Pape.
 
$150 - $200 per month
 
According to RateCity.com.au chief executive Alex Parsons, the main thing for borrowers to remember is that they really don’t need to wait for an RBA rate cut. Far bigger cuts are available by comparing and switching to a better deal. “There’s a lot of lazy money out there. Refinancing from the average rate into one of the lowest variable rates on the market would mean savings of over $150 every month, or over $200 per month if today’s cut is passed on to customers,” he says. 
$349 per month
Parsons says the gap between the lowest and highest variable interest rate had grown to 2.01 percentage points - or the equivalent of over eight, 0.25 percentage point rate cuts – with rates ranging from 4.74% to 6.75%. This compares with 12 months ago when the rate spread was 1.78 percentage points, and two years ago when rates ranged by 1.71 percentage points.
The most significant gap between the best and worst mortgage rates was for 5-year fixed terms, which differ by as much as 2.10 percentage points. Home loan rates fixed for 1-year range by as much as 2 percentage points, RateCity calculations show.
“A difference of 2 percentage points may not sound significant, but for a borrower with a $300,000 home loan repaid over 25 years, this gap represents a difference of $349 in monthly repayments and more than $4100 in the first year,” says Parsons.
<a href="https://homeloans.propertyobserver.com.au/home-loans/?utm_source=Property+Observer+List&amp;utm_campaign=76e226e607-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-76e226e607-245347537" target="_blank"><img src="/images/stories/2013/08/homeloancomparison.jpg" width="399" height="110" alt="homeloancomparison"></a>
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What the RBA decision may mean for you

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Sales activity is picking up in fringe new housing estates led by a strong recovery in house and land sales in Sydney, according to the June quarter National Land Survey Program (NLSP).
There was a 16% increase recorded nationally with total sales reaching their highest level since the GFC – about 3,700 lots sales per month – according to the report compiled by ResearchFour and Charter Keck Cramer and seen by the Australian Financial Review.
The rise has been attributed to the low interest rates and pent-up demand in previously underperforming markets, predominantly in Sydney.
Monthly lot sales hit 800 in Sydney, a rise of 18% according to the June quarter NLSP report. The figure also incorporates land sales in NSW metro centres of Newcastle and Wollongong.
The figures back up sentiment and figures from listed property developer Australand, which in half year results released last week reported that residential sales contracts on hand increased from 1,316 to 1,793 driven by a strong pick-up across some of its Sydney projects.
In NSW, Australand contracts on hand increased from 543 as of December 2012 to 905 as of June 2013.
The most recent HIA new home sales survey reported a pick-up in detached new home sales (up 7.3% at the end of last financial year), compared with apartment sales dropping by 17.5%.
“Detached housing has gained momentum as non-detached housing - primarily mid/high density product - has lost momentum to date,” said HIA chief economist Harley Dale.
The HIA figures – based on sales data from Australia’s biggest residential builders – report a strong rise in Victoria (up 19.7%), followed by Western Australia (7.1%), New South Wales (3.9%), and South Australia (0.5%) with a 11% fall recorded in Queensland.
The NLSP survey, which monitors land sales from 550 estates across the five major capital city markets and major regional cities, records a 37% rise in sales over the quarter in Melbourne, but due to excess stock being absorbed, smaller lot sizes and the price of land falling.
The Oliver Hume report on the Melbourne land market for the March quarter recorded that the median land price eased during the quarter to $201,250: down from $205,000 in the December 2012 quarter.
Excluding rebates, the net land price was $188,750.
ResearchFour director Colin Keane says Melbourne remains the weakest land market with a lack of product choice characterising the market.
Sales rose 58% over the quarter in south-east Queensland – after bottoming out in the March quarter.
Midwood’s Prodap Report of the Gold Coast market recorded both a strong lift in vacant residential lot sales over the June quarter (rising 55% from 140 in March to 214 in June quarter – the biggest rise since 2009) and house and land package sales up 70% over the quarter from 56 to 97.
House and land sales rose 18% in Adelaide and 24% in Canberra.
Lot sales rose just 5% in the June quarter to reach above 1,200 in Perth with ResearchFour noting that both production capacity and demand may have reached their peaks.
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Sydney drives strong recovery in residential house and land market: National Land Survey

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Capital city house prices rose 2.4% in the June quarter led by a surging Perth housing market, according to preliminary estimates of the ABS eight capital city price index.
This means the index is up 5.1% through the year to the June quarter 2013.
Apart from Hobart, all capital cities recorded gains in their price indices in the three months to June led by Perth (+3.4%) followed by Darwin (+2.9%), Sydney (+2.7%), Melbourne (+2.4%), Brisbane (+1.9%), Canberra (+1.0%) and Adelaide (+0.3%).
Hobart’s price index fell 1%.
The ABS also upwardly revised its March quarter estimate from a 0.1% rise to a 0.8% gain. 
The latest data means the Perth house price index is now up 11% over the past 12 months - the fifth consecutive through-the-year rise.
Perth housing clusters with median prices below $750,000 contributed most to the rise in the June quarter 2013.
In Sydney, the ABS said clusters with median prices between $400,000 and $850,000 contributed most to the rise in the June quarter 2013.
Sydney’s index rose 6.1% through the year to the June quarter 2013, the fourth consecutive through the year rise.  The preliminary estimate for Melbourne (+2.4%) follows a rise in the March quarter 2013 (+0.1%, revised from +0.2%). The rise in Melbourne was consistent across a broad range of clusters. The index rose 3.3% through the year to the June quarter 2013. This is the second consecutive through the year rise. Capital city house prices rose 2.1% in the December quarter 2012 and fell 0.2% in the September quarter, according to final ABS revisions.
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Perth leads capital city house prices up 2.4% in June quarter: ABS

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The RBA has cut the cash rate by 25 basis points to a new record low of 2.5% following its monthly monetary policy meeting today.
The cash rate is now 50 basis points below the previous official low of 3% reached, following the onset of the GFC, in April 2009.
Prior to this, the previous low was in January 1960 with a <a target="_blank" href="/news">2.89% ‘cash rate’ recorded</a> based on proxy historical RBA data going back to 1959 – the RBA only started publishing official interest rate setting in January 1990.
The rate cut was anticipated by nearly all economists following the RBA sitting on its hands in June and July.
<a title="The pace of borrowing has remained relatively subdued until recently: RBA Governor Glenn Stevens' August statement" href="/news">The pace of borrowing has remained relatively subdued until recently</a>, RBA Governor Glenn Stevens said in his August statement.<a title="The pace of borrowing has remained relatively subdued until recently: RBA Governor Glenn Stevens' August statement" href="/news"></a>
You can read Property Observer's analysis of <a href="/news">what the RBA's decision will mean for you</a>.
"The pace of borrowing has remained relatively subdued, though recently there are signs of increased demand for finance by households,"the RBA governor Glenn Stevens said in the August monetary statement.
Banks are expected to pass on the rate cut in full though the impact on the housing market is expected to be muted.
The average variable mortgage rate should drop below 5.5% with Canstar reporting an average variable prior to today's decision of 5.71%.
RP Data national research director Tim Lawless says today’s reduction in the cash rate comes at a time “when the housing market is already responding to the low debt servicing environment”.
“Since the housing market reached a recent low point in May last year we have seen dwelling values rise by 6.5% based on the RP Data – Rismark combined capital city index. That equates to a gross profit of around $30,000 for the average home owner,” he says.
“The difficulty for the RBA going forward will be how to keep a lid on what may be viewed as excessive housing market growth while also providing a sufficient level of stimulus in place to the broader economy via their monetary policy settings.
“Glenn Stevens has previously commented that the RBA’s preference is for a pick-up in dwelling construction, not necessarily an increase in home values such as we are currently experiencing.
“Lower mortgage rates are likely to provide further motivation for buyers to become active, however with values rising it is going to be more difficult for prospective owners, particularly those without equity behind them, to come up with a deposit.
“This affordability challenge is likely to be most felt by the first home buyer segment and it may be the factor that continues to prevent prospective first time buyers from entering the housing market.
“For investors, with the average discounted variable mortgage rate now approaching the 5% mark they are likely to find more and more properties are approaching a cash flow neutral or cash flow positive yield.  Anecdotally more and more investors seem to be focusing on rental yield and positioning for long term capital growth,” says Lawless.
<a href="https://homeloans.propertyobserver.com.au/home-loans/?utm_source=Property+Observer+List&amp;utm_campaign=76e226e607-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-76e226e607-245347537" target="_blank"><img src="/images/stories/2013/08/homeloancomparison.jpg" width="399" height="110" alt="homeloancomparison"></a>
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RBA cuts cash rate to new record low of 2.5%

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Borrowers should expect the major banks to pass on an expected rate cut in full and swiftly, but with little impact on the property market, says Aussie Home Loans founder John Symond.
“People are cautious and sit on their hands around election time and the property market will just stagnate between now and Christmas,” Symond has told David Koch on Sunrise in his regular pre-RBA chat.
Symond suggested this period of stagnation “might be a good time to be out there and buying”.
While he expects little impact on the property market, given that interest rates are already at historic lows, he says a rate cut will be good for small businesses and general perception.
He expects the RBA to cut the cash rate today and for the banks to pass on the rate cut in full and in good time.
“There are no excuses for the banks not to pass on rate cut in full and I expect them to pass it all on pretty fast.”
But he does not expect that it will make a big difference for those out there looking to buy a house given the competition between investors and first-home buyers for inner city property in capital cities.
Symond says this part of the market is very active with first-home buyers having trouble getting into the market and competing with investors for properties prices between $500,000 and $600,000.
“[The yields on these properties] are very good and better than the more expensive properties,” he says.
As for the reasons the RBA will cut the cash rate to 2.5%, Symond says that while the economy is not falling off a cliff, it is “certainly showing signs that the steam is coming right out”.
“The RBA is worried the economy might get to a stage where it might stall, it needs to pump some energy into the economy and the best way to do that is to drop interest rates.
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Any RBA rate cut passed on in full won’t do much for property market: John Symond

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Joel Robinson

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

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Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

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The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

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The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

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The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

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Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

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Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

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Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

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The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

Larry Schlesinger

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