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Renovations are a national pastime with property owners looking to improve and add value to their properties.
There are more tips and resources freely available than ever before, such as these <a target="_blank" href="https://www.propertyobserver.com.au/renovating/the-10-best-diy-renovation-tips-from-the-experts/2013062662548">top ten expert tips</a>.
 
<img alt="poll-results-sept-9" height="318" width="470" src="/images/stories/2013/09/09/poll-results-sept-9.jpg">
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Which room do you think delivers the most profit when renovated?

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When it comes to your financial success and paying down debt, there's often talk of tips, tricks and unheard of techniques.
But really, it's mainly a numbers game, and it's all to do with your approach.
 
<a target="_blank" href="https://twitter.com/BudgetDude"><img alt="TWEETOFTHEDAY" height="176" width="470" src="/images/stories/2013/09/05/TWEETOFTHEDAY.png"></a>
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It's all in the numbers

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Hotspotting, or finding the best suburb in which to purchase an investment, is a crucial skill of every property investor. With the market heating up, it's only natural that competition in finding these locations has started to skyrocket.
A couple of weeks back, <a target="_blank" href="https://www.propertyobserver.com.au/hotspots/rich-harvey-s-top-ways-to-find-a-hotspot/2013090364762">we spoke with Rich Harvey</a>, managing director of independent buyer’s agency <a target="_blank" href="https://www.propertybuyer.com.au/" rel="nofollow">propertybuyer.com.au</a>.
Harvey is a licensed real estate buyer’s agent, experienced property investor and professional economist. The propertybuyer.com.au team has purchased over 1,100 properties in total.
Here are some questions he asks:
<ul style="font-size: 14px;">
<li>
What are the key drivers of the local market?
</li>
<li>
What property types are in the highest demand?
</li>
<li>
What price points are optimal?
</li>
<li>
What is the average yield and growth?
</li>
<li>
What streets should I avoid?
</li>
<li>
What has changed in the area in the last ten years?
</li>
<li>
What is likely to change in the near future?
</li>
<li>
What are the clear tractions that bring people to this suburb?
</li>
</ul>
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Rich Harvey's eight hotspotting must-ask questions

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The Melbourne property market is heating up with RP Data recording a preliminary clearance rate of 76.9% based on 862 auctions.
<a href="/news">RP Data stated </a>that "the underlying health of the market is highlighted by the fact there have now been eight consecutive weeks with a clearance rate in excess of 70%."
Monique Sasson Wakelin of Wakelin Property Advisory told Property Observer that “clearance rates do not necessarily measure whether the market is pricing itself up or pricing itself down. They measure the level of supply to demand and it was at 72% this weekend just gone.
"That is still telling me there is pent up demand and insufficient supply. If it drops to something in the 60% range then it’s closer to balanced. Clearance rates are very good at measuring over supply.”
Wakelin provided Property Observer her <a href="https://www.propertyobserver.com.au/victoria/melbourne-buyers-agents-slam-analysts/2013090364761?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">tips for buying in the Melbourne market</a>:
- Aim for within two to 12 kilometres of the CBD
- Look for established stock rather than new
- If buying an apartment seek out those from the 1930s to the 1970s and always elect for parking
- If looking over $650,000 then look for two-bedroom period-style properties from the 1880s to 1940s
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Monique Sasson Wakelin’s four tips for buying in the Melbourne market

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Despite the rate remaining unchanged yesterday, opinions abound across the property industry. Here are comments from leading property industry experts that emerged yesterday.
REIA president Peter Bushby
In recent years, lower borrowing costs have been a major driver of improving housing affordability and have helped many Australians with their mortgages.
As a result of the easing monetary policy, housing affordability in Australia has been improving slightly for the past two years and the proportion of income required to meet home loan repayments is at its lowest since the June quarter of 2003.
Housing affordability is a real issue for Australians and first home buyers need an incoming Government to address this through a comprehensive housing policy.
Keeping interest rates low is essential not only for encouraging first home buyers into the market but it’s vital to further stimulate building activity and provide new jobs in the  housing industry.
ANZ Research head of Australian economics Ivan Colhoun
Today’s Monetary Policy Decision text by the RBA was almost identical to that released following the August easing of monetary policy.
By reverting to the somewhat standard “The Board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the target”, the Bank is likely signalling no near-term move in rates is being considered (the absence of phrases such as “scope to ease” and “policy is appropriate for the time being” are also indicative of this less active easing consideration).
One of the main discussion points about today’s statement seems to be the absence of reference to scope for easing. We do not read this as suggesting there is no scope for further easing or that the Bank has shifted to a neutral bias. To us the Bank was signalling that it was on active easing watch prior to August’s move, but this active consideration expired after the August move. The phrase was not restated after the August move or in the August minutes. However, with growth set to remain below trend for the next year or so, inflation contained, and unemployment gradually rising, there remains scope for further monetary easing if required. The August minutes reinforce this assessment as the Bank remarked it did not want to encourage thoughts of imminent further easing, nor did it want to suggest that rates could not be reduced further. Its conclusion in the minutes was that the Board would study incoming data in the months ahead to see if policy remains appropriately calibrated. Further information on the Board’s thinking may well be forthcoming in the September Board Minutes, if the August Minutes are anything to go by.
The Bank again noted that the AUD remained at a high level and that it may fall further, something that would be helpful in facilitating the transition of growth from mining-investment led growth to broader growth in other sectors of the economy.
Today’s statement reduces the chance of a further cut in the cash rate as early as the October Board meeting. The November meeting is therefore the likely earliest time period for a further move (after the next CPI release). While we suspect the Bank would prefer not to reduce interest rates any further in this cycle as lending rates and real cash rates are now at stimulatory levels, there remain a number of pressures to the downside given growth is forecast to be below trend for an extended period and unemployment is rising. This continues to reinforce our view that any early rise in Australian cash rates remains very unlikely. The course of the AUD is also an important consideration in the setting of policy at the present time.
RP Data research director Tim Lawless
The hold on interest rates today comes as no surprise despite the low private sector inflation reading that was released yesterday.  The latest data associated with the housing market remains positive, providing an increasingly firm indication that households and developers are responding to the low interest rate environment.  Dwelling values have continued along their recovery path, with home values half a percent higher over in August and 7% higher since the housing market started recovering in May last year.  The 0.5% rise in dwelling values in August is likely to provide the RBA with some comfort after values rose by a cumulative 3.5% over June and July.   Importantly the rise in dwelling values has been accompanied by a substantial rise in buyer numbers as well.  Based on transaction data for the June quarter, the number of home sales across the capital cities is about 31 percent higher than a year ago.  Data on dwelling approvals yesterday also painted a stronger view of the housing market, with approvals 28% higher over the year.  All housing market indicators are pointing to an ongoing recovery and a strong spring selling season.   Mortgage rates remaining low together with buyer activity substantially higher and listings numbers about 15% lower than a year ago we are seeing the typical capital city home selling in just 41 days compared with 62 days a year ago and clearance rates remaining above the 70% mark week on week.
Finder.com.au spokesperson Michelle Hutchison
Borrowers and prospective first home buyers don't have to rely on the Reserve Bank for a rate cut this mortgage season because several lenders have started the season with special offers. In fact, eight lenders - including major banks - are offering special deals such as waived fees or discounted rates. It's a great idea to compare deals, use comparison sites like finder.com.au and take advantage of the offers available. But make sure you do your research because a discounted rate or waived fee might not be worth paying more over the long term.
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RBA Decision: Property industry responses

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With mixed news coming from across the country’s property markets, it’s no surprise investors are out in force looking for opportunities, and there’s no better place to start than our nation’s capitals.
Melbourne is currentlya <a target="_blank" href="https://www.propertyobserver.com.au/victoria/melbourne-buyers-agents-slam-analysts/2013090364761?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">city of contention</a> among property experts, while mixed news is coming from <a target="_blank" href="https://www.propertyobserver.com.au/western-australia/perth-property-investors-told-to-batten-down-the-hatches/2013090364766">Perth</a> and <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/election-may-be-cause-of-inner-city-rental-decreases/2013090364745?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">Sydney</a> in terms of rentals. <a target="_blank" href="https://www.propertyobserver.com.au/northern-territory/darwin-s-10-hidden-gems-parap-is-27-cheaper-than-the-narrows-and-just-3km-away/2013090364667">Darwin’s “hidden gems”</a> have also been revealed recently.
 
<img alt="poll-results-sept-5" height="460" width="470" src="/images/stories/2013/09/05/poll-results-sept-5.jpg">
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Which capital city has the best residential investment opportunities?

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Catherine Cashmore has tweeted out a link highlighting The Guardian's report on the UK property market.
The Guardian writes that<a target="_blank" href="https://www.theguardian.com/housing-network/2013/sep/02/housing-market-recovery-austerity-election?CMP=twt_gu"> </a><a target="_blank" href="https://www.theguardian.com/housing-network/2013/sep/02/housing-market-recovery-austerity-election?CMP=twt_gu">first-time buyers in the UK market are jumping into property ownership</a> under a government scheme to avoid missing out.
Cashmore points to it being a ‘poignant’ example for the Australian market:
<a target="_blank" href="https://twitter.com/CCASHMORE_BUYER"><img alt="TWEET_OF_THE_DAY_PIC1" height="165" width="470" src="/images/stories/2013/09/04/TWEET_OF_THE_DAY_PIC1.png"></a>
"Far more voters already own their homes than identify as struggling first-time buyers worrying about being priced out of the market. And even those first-time buyers are now snapping up homes once more, thanks partly to the government's controversial Help to Buy scheme," The Guardian reports.
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Priced out UK first-home buyers a 'poignant' example for Australia

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Regular observer Cameron McEvoy believes that overall, investment desirability in an area is heavily dependent on infrastructure.
"There is not one checklist of infrastructure vitals you need to investigate when considering an investment property purchase, but two", <a href="/news">Cameron McEvoy wrote</a>.
The first list he came up with are a checklist of an area's core vitals pertaining to the basics of human life: safety, security, and employment:
Infrastructure Checklist – Area Vitals:
-          Emergency services (local police, fire, ambulance)
-          Employment prospects (look for job creation in a variety, not just a handful, of industries or trades)
-          Proximity to transport nodes (rail, bus, tram; as well as domestic and international airports)
-          Shopping &amp; retail facilities (basic/core groceries)
-          Proximity to education facilities (pre-school through to tertiary)
-          Digital services (fast access internet, subscription television)
-          Provision of basic leisure facilities (parks, local sports grounds, town centres, restaurants/bars)
-          Well-maintained roads and intersecting/connecting motorways
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a target="_blank" rel="nofollow" href="https://propertyspectator.blogspot.com.au/">Property Correspondent.</a>
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Eight vital infrastructure signs to ensure your area stacks up: Cameron McEvoy

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Brookfield Multiplex has marked the handover of the $152 million Royal Randwick Grandstand to the Australian Turf Club, with a time-lapse animation of its construction.
 
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Royal Randwick Grandstand construction time-lapse 

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At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.
Recent information is consistent with global growth running a bit below average this year, with reasonable prospects of a pick-up next year. Commodity prices have declined from their peaks, but generally remain at high levels by historical standards. Inflation in most countries remains well contained.
Overall, global financial conditions remain very accommodative, though the recent reassessment by markets of the outlook for US monetary policy has seen a noticeable rise in sovereign bond yields, from exceptionally low levels. Volatility in financial markets has increased and has affected a number of emerging market economies in particular. Notwithstanding the higher volatility, Australian institutions have ample access to funding markets.
In Australia, the economy has been growing a bit below trend over the past year. This is expected to continue in the near term as the economy adjusts to lower levels of mining investment. The unemployment rate has edged higher. Inflation has been consistent with the medium-term target. With growth in labour costs moderating, this is expected to remain the case over the next one to two years, even with the effects of the recent depreciation of the exchange rate.
The easing in monetary policy since late 2011 has supported interest-sensitive spending and asset values, and further effects can be expected over time, including from the declines in rates seen over recent months. The pace of borrowing has remained relatively subdued, though recently there are signs of increased demand for finance by households.
The Australian dollar has depreciated by around 15 per cent since early April, although it remains at a high level. It is possible that the exchange rate will depreciate further over time, which would help to foster a rebalancing of growth in the economy.
At today's meeting, the Board judged that the setting of monetary policy remained appropriate. The Board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the target.
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RBA Governor Glenn Stevens' September statement

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

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