<html><body>
Melbourne house values recorded a very minor reduction in April with the <a href="https://image.e.rpdata.com/lib/fe591570776d03757d17/m/6/2014-05-01--rpdata-rismark-home-value-index.pdf" target="_blank">latest RP Data Rismark Index results</a> showing a change of -0.4%.
Over the last three months they have recorded a 1.7% rise and in the last 12 months there has been a 12.2% rise. The median house price based on settled sales over the last three months is was $615,000.
The underlying health of the market is shown by the fact that over the last year only one capital city, Sydney, has recorded a greater rise in house values. At the same time the result should allay concerns that Melbourne was moving into a period of rapid and unsustainable property price growth.
There is now a significant gap between units and houses.  Unit values recorded a change of -1.6% in April, over the last three months they have risen 0.7% and in the past 12 months the rise is just over half that of houses at 6.8%.
Demand in the auction market also fell with a clearance rate in April of 63.8% from 3,176 auctions in Melbourne. In March, which was a record month in terms of volumes, the clearance rate was 69.9% from 5,322 auctions.
</body></html>

rlarocca-zWhvjay44N

Melbourne home values record small drop in April

<html><body>
In March 2009, the median advertised rent for a house in Melbourne was $379 per week compared to $442 this year.
This has equated to a rise of 16.6% over five years. Surprisingly there are a number of suburbs where renters have not faced comparable rises and there are even some suburbs where rents have actually dropped.
Three of the four suburbs where rents have fallen are growth suburbs; Doreen, Mernda and Sandhurst. These suburbs are unique cases as the supply of homes is very strong resulting in distortion in the data compared to more established areas.  In this case it has resulted in reductions in the advertised rent.
Advertised rents in Doreen have dropped by 6.4% over five years, similar to nearby Mernda which recorded a fall of 5.9%. Sandhurst rents dropped by 2.6%.
Rents have also fallen in Ormond and barely changed in Toorak; both suburbs have comparatively expensive houses and this highlights a trend of poor growth in rents in expensive suburbs.
With very low yields in the more expensive suburbs investors are more motivated by the strong capital growth that can be found and renters in this price bracket are clearly in a very different market to the majority of renters in Melbourne.
Other similar suburbs in the top 20 for low rental growth are Canterbury, Wonga Park, Caulfield, Ashburton and Hawthorn East.
This highlights that by targeting certain areas renters can find homes where rents do not continually rise.
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" width="139">
Suburb
</td>
<td valign="bottom" width="129">
Change in advertised rents in five years - Houses
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">DOREEN</a>
</td>
<td valign="bottom" nowrap width="129">
-6.4%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">MERNDA</a>
</td>
<td valign="bottom" nowrap width="129">
-5.9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">SANDHURST</a>
</td>
<td valign="bottom" nowrap width="129">
-2.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">ORMOND</a>
</td>
<td valign="bottom" nowrap width="129">
-2.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">TOORAK</a>
</td>
<td valign="bottom" nowrap width="129">
0.3%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">ELTHAM NORTH</a>
</td>
<td valign="bottom" nowrap width="129">
0.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">CANTERBURY</a>
</td>
<td valign="bottom" nowrap width="129">
0.9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">DANDENONG SOUTH</a>
</td>
<td valign="bottom" nowrap width="129">
1.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">WONGA PARK</a>
</td>
<td valign="bottom" nowrap width="129">
1.8%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">BLACKBURN</a>
</td>
<td valign="bottom" nowrap width="129">
2.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">CAULFIELD</a>
</td>
<td valign="bottom" nowrap width="129">
2.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">BROOKFIELD</a>
</td>
<td valign="bottom" nowrap width="129">
3.4%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">ASHBURTON</a>
</td>
<td valign="bottom" nowrap width="129">
3.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">HAWTHORN EAST</a>
</td>
<td valign="bottom" nowrap width="129">
4.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">LYNDHURST</a>
</td>
<td valign="bottom" nowrap width="129">
4.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="139">
<a href="/news">OAK PARK</a>
</td>
<td valign="bottom" nowrap width="129">
4.5%
</td>
</tr>
</tbody></table>
Photo courtesy of <a href="https://www.flickr.com/photos/linh_rom/" target="_blank" data-track="commentUserNameClick" data-action="follow" data-rapid_p="34">Hai Linh Truong</a>/Flickr.
</body></html>

Melbourne suburbs where rents have dropped over past five years

<html><body>
There are 349 auctions scheduled this week in Melbourne. Whilst higher than last weekend volumes are lower than usual due to Anzac Day.
RP Data captured 43 auction results across Melbourne last week with 25 successful sales recorded; however, due to the very low volume a clearance rate would not be statistically reliable.
The number of active buyers and sellers is clearly higher than it was over the past three years. However, as <a href="/expert-insights/investing/first-home-buyers-in-victoria-lowest-in-23-years">first home buyers are at record lows</a> the improved demand is coming from other segments.
Data shows that there are a proportionally higher numbers of upgraders and investors that was the case in the last rising market in 2009.
This highlights a fundamental difference to the last few cycles in the market as not only is this one shallower so far but there is a different mix of buyers.
Key data
<ul>
<li>Clearance rate week ending 20 April: NA due to low volumes 
</li>
<li>Melbourne auctions expected week ending 27 April: 349 
</li>
<li>Melbourne private sales time on market week ending 20 April: 33 days (houses) 
</li>
<li>Melbourne vendor discounting market week ending 20 April: -5.6% (houses) 
</li>
<li>Listings being prepared for market are 19.4 per cent higher in month ending 20 April (seasonally adjusted)</li>
</ul>
</body></html>

Property cycle now shallower with different buyer mix: RP Data's Melbourne auction preview

<html><body>
There are 49 auctions scheduled this week in Melbourne; the total volume of auctions is affected by the upcoming Easter and Anzac Day public holidays.
The lower volume of auctions does not reflect the broader level of supply with overall volumes continuing to rise. The high level of supply is having an impact on prices with a slight depreciation being recorded so far this month in the Melbourne Home Price Index.
The key issue for the Melbourne property market after Anzac Day will be the supply of homes. The RP Data Mortgage market activity shows that so far, the number of buyers has risen to match the higher levels of supply with mortgage activity events higher than a month ago in Victoria. As activity is generally reduced over winter the high level of supply will be a challenge for the market.
Key data
<ul>
<li>Clearance rate week ending 13 April: 64.4% 
</li>
<li>Melbourne auctions expected week ending 20 April: 49 
</li>
<li>Melbourne private sales time on market week ending 13 April: 34 days (houses) 
</li>
<li>Melbourne vendor discounting market week ending 13 April: -5.6% (houses) 
</li>
<li>Listings being prepared for market are 3.5% higher in month ending 13 April</li>
</ul>
</body></html>

Key issue for post-Easter will be supply:  RP Data's Melbourne auction preview

<html><body>
From a first home buyer perspective, there is something very wrong with the housing market in Victoria.
In February, the most recent data available from the Australian Bureau of Statistics (ABS) showed that the total number of dwellings financed for first home buyers had sunk to a 23 year low.
In February there were 1,402 dwellings financed for first home buyers which  represented a mere 11.76% of the entire number financed. This was lower than in January when first home buyers represented 12.7% of the market and the lowest in raw terms since July 1991 when the population of Victoria was 31% less than it is today.
The reasons behind  this result are debatable. Some will say that the causes are high property prices, but this alone is not borne out by the data. When home values last peaked, in October of 2010, the proportion of first home buyers was 18.2%. In real terms, prices are not significantly different at this point which suggests that the problem is not entirely the price.
Others point to the fact that rents are not rising and suggest that intending first home buyers are preferring to rent.
Another perspective is that the change to financial assistance for first home buyers has caused many to not enter the market. At the same time as the large step down in the proportion of first home buyers occurred in the middle of last year, the $7,000 First Home Buyer Grant for established homes came to an end.  This alone cannot be the only issue as at the same time stamp duty was being progressively lowered for first home buyers.
The reasoning for this change in the market is probably a combination of all  issues mentioned and if the market  remains this way, it will represent a significant structural change in the local housing market.
</body></html>

First home buyers in Victoria lowest in 23 years

<html><body>
There are 1,412 auctions scheduled this week in Melbourne compared to 626 this time last year.
With 1,400 also scheduled in Sydney this weekend will provide a rare opportunity to compare the two capital city auction markets.
The unprecedented increase in the number of auctions is part of a wider rise in homes on the market over the last month.
There are now 22% more new listings compared to last year across Victoria which ensures a high level of choice for buyers.
This high level of volumes should also keep the clearance rate in the mid 60s.
In the month ending 6 April, there were 60,820 homes on the market in Victoria of which 33,209 were in Melbourne.
The total number of homes on the market is reducing due to the higher number of buyers compared to a year ago. 
This is also evident in the level of vendor discounting recorded for homes for private sale. 
Vendor discounting for houses was 6.1% compared to 6.7% in February a year ago.
Key data
<ul>
<li>Clearance rate week ending 6 April: 63.6%</li>
<li>Melbourne auctions expected week ending 13 April: 1412</li>
<li>Melbourne private sales time on market week ending 6 April: 34 days (houses)</li>
<li>Melbourne vendor discounting market week ending 6 April: -5.5% (houses)</li>
</ul>
</body></html>

Unprecedented increase in auction numbers: RP Data's Melbourne auction preview

<html><body>
The weekly auction market may capture the attention of many but just under 70% of all homes in Melbourne are sold at private sale.
While this market segment may not have a convenient weekly statistic that  summarises the level of demand and supply, other data in RP Data’s suite of information supports a similar role.
RP Data calculates the time on market for homes for sale at private sale and also the level of vendor discounting. These statistics are available at a metropolitan, council and suburb level. For the purposes of a broad market indicator, the metropolitan wide numbers are the most stable and reliable in a statistical sense.
The most recent time on market data is for the month of February. It showed that the average time between advertising and the contract of sale being signed was 57 days for houses and 65 for units in Melbourne.
For the housing market, this is considerably stronger than last year when it was 72 days, however, the unit market is showing the impact of high levels of new supply as it is now longer than a twelve months when it appeared as 60 days.
As new listings are almost   one third higher than this time last year, the current numbers paint a picture of a remarkably healthy market. It also reflects the fact that vendor discounting is also lower at -6.1% for houses compared to -6.7% a year ago and -5.8% compared to -6.5% for units.
This data shows that conditions present in the auction market are also apparent in the private sale across Melbourne.
</body></html>

Melbourne's private sale market continues to tighten

<html><body>
There are twice as many auctions this week as there was this time last year. This week RP Data is expecting 1,120 auctions in Melbourne compared to only 554 this time last year.
Last weeks result showed that increased stock numbers at auction and in the market generally are having an impact with a comparatively low clearance rate recorded.
The increased stock numbers should be welcomed by buyers as it acts to moderate price growth in what is an otherwise tight market.
Key data
<ul>
<li>Preliminary clearance rate week ending 30 March: 66.9%</li>
<li>Melbourne auctions expected week ending 6 April: 1,120</li>
<li>Melbourne private sales time on market week ending 30 March: 35 days (houses)</li>
<li>Melbourne vendor discounting market week ending 30 March: -5.5% (houses)</li>
</ul>
</body></html>

Another 1,000 plus auctions this weekend: RP Data's Melbourne auction preview

<html><body>
This week RP Data is expecting 1,320 auctions in Melbourne. This weekend last year was during Easter so does not provide a useful comparison.
This is the third week in a row with over 1,000 auctions and that is unprecedented in Melbourne. The highest volume of auctions is in <a href="/news">Reservoir</a> with 26 followed by <a href="/news">St Kilda</a> with 23 and <a href="/news">Armadale</a> with 21.
All current indicators show signs of a market that is picking up strength with volumes increasing, days on market falling and vendor discounting reducing.
Over the last week the measure of days on market for a house to sell at private sale has dropped from 37 to 35 days in Melbourne. Strengthening demand also leads to vendors at private sale discounting from their advertised price to a lessor degree – this has dropped from -5.5 to -5.4% over the last week.
These market indicators can prove to be volatile on a weekly basis but the trend is clear and is likely to be confirmed in increased values when the RP Data home price index is released in the next week.
Key data
<ul>
<li>Clearance rate week ending 23 March: 69.4%</li>
<li>Melbourne auctions expected week ending 30 March: 1,320</li>
<li>Melbourne private sales time on market week ending 23 March: 35 days (houses)</li>
<li>Melbourne vendor discounting market week ending 23 March: -5.4% (houses)</li>
<li>Listings being prepared for market are 13.1% higher in month ending 23 March</li>
</ul>
</body></html>

Unprecedented run of 1,000 plus auction weekends: RP Data's Melbourne auction preview

<html><body>
Auction volumes remain strong this week with 1,076 expected in Melbourne and 1,154 across Victoria. This is the first time there has been consecutive weekends with over 1,000 auctions in March.
The healthy demand that is present in the auction market is also apparent in the private sales market.
Days on market for houses in Melbourne dropped again this week to 37 from 42 last week. This is consistent with last year’s trend which saw days on market contract from the mid 40’s to 39 in December.
Vendor discounting also dropped again to -5.5% last week. Time on market and vendor discounting metrics are important as they provide a measure of demand in the private sale market.
Buyers will find increased choice over the next few weeks as the listings being prepared for sale were 10% higher in seasonally adjusted terms compared to last year. As this is common to both private and auction property market segments, it will provide a greater test for the market than a weekend of 1,000 auctions.
The highest volume of auctions is in Reservoir where 26 are listed, followed by 23 in Brighton and 20 in Richmond.
Key data 
<ul>
<li>Clearance rate week ending 16 March: 67%</li>
<li>Melbourne auctions expected week ending 23 March: 1,076</li>
<li>Melbourne private sales time on market week ending 16 March: 37 days (houses)</li>
<li>Melbourne vendor discounting market week ending 16 March: -5.5% (houses)</li>
<li>Listings being prepared for market are 10% higher in month ending 16 March</li>
</ul>
</body></html>

First time ever for three consecutive 1,000 plus auction weekends: RP Data's Melbourne weekend auction preview

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

Joel Robinson

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

[smartcode_project:default project_id=106566 project_image_fid=185853]

Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

[smartcode_project:default project_id=106566 project_image_fid=362498]

Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

[smartcode_project_cta:default project_id=149594]

Robert Larocca

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News