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Australian property seekers and daydreamers will soon be able to explore their dream home in virtual reality through realestate VR, realestate.com.au’s virtual reality property app.
Coming soon to Android mobile devices, realestate VR will allow people to tour.
Selected properties on realestate.com.au will soon be available to view in virtual reality, giving real estate agents a key point of difference as they endeavour to make their property stand out from the crowd.
realestate.com.au continues to invest in, and trial new technology.
Nigel Dalton, Chief Information Officer at REA Group, commented that while virtual reality is not a new innovation, they had been trialling and testing its functionality for some time now.
“All you need to do is look at the runaway success of the Pokemon Go app to realise how in demand new technology is.
"We’re confident that both augmented reality and virtual reality will become increasingly useful tools for property seekers when looking for their next home.”
Realestate VR by realestate.com.au will be available in the coming months for download from Android app stores, including Google Daydream and Oculus for Samsung Gear VR.
 
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j.ballantyne1990-6AQqhLzZaK

Realestate.com.au moves property inspections into virtual reality

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Burradoo is ranked the NSW location where there's been the biggest decrease in stock compared to last year, according to Investar’s latest market report.
The property investment firm states that Burradoo has suffered a 57 percent decrease in stock, from 126 listings last year to the current 53 offerings.
This is followed by Bradbury from 56 to 26 and Hawks Nest from 61 to 29.
<a href="/images/2016/10/11/Screen%20Shot%202016-10-11%20at%2010.04.22%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/11/Screen%20Shot%202016-10-11%20at%2010.04.22%20AM.png" alt="">
This list was produced using historical on the sales listing data at a suburb level for houses.
It is designed to identify the suburbs with the biggest decrease in stock on market for the current month when compared to the stock on market for the same period 12 months ago.
A large decrease in stock on market could indicate tightening supply conditions or a general lack of activity in the market.
Houses for sale at Burradoo at the median price of $1,450,000 include a three bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-burradoo-123593966" target="_blank">31 Osborne Rd</a> (above) that is for sale for $1,365,000.
Similarly a four bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-burradoo-123421798" target="_blank">3 Riversdale Avenue</a> (below) is for sale for between $1,450,000 - $1,550,000.
<img src="/images/2016/10/05/3%20Riversdale%20Avenue.jpg" alt="">
 
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Burradoo house listings halve: Investar

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BrickX's monthly rental distributions for September have been deposited into brick holders' wallets based on 30 September ownership. 
All rental distributions paid were in line with forecasts.
"This marks an exciting time for BRICKX Investors, as this is the first distribution paid since our big launch, when we made the platform available for all Australians," Anthony Millet, the BrickX chief said.
Details on each property and the distributions can be seen below
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Annandale (ANN01)
Distribution: $1,200 or $0.12 per Brick
Brick Price: $100.00*
Investors: 456*
<a href="https://brickx.us8.list-manage2.com/track/click?u=c85d85c62b9a47be6dc88e065&amp;id=07145ba6ea&amp;e=be9a375222">Invest in ANN01</a>
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Mosman (MOS01)
Distribution: $3,200 or $0.32 per Brick
Brick Price: $141.00*
Investors: 286*
<a href="https://brickx.us8.list-manage.com/track/click?u=c85d85c62b9a47be6dc88e065&amp;id=eee5c7d675&amp;e=be9a375222">Invest in MOS01</a>
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Prahran (PAR01)
Distribution: $2,400 or $0.24 per Brick
Brick Price: $120.00*
Investors: 145*
<a href="https://brickx.us8.list-manage1.com/track/click?u=c85d85c62b9a47be6dc88e065&amp;id=c16ba22a57&amp;e=be9a375222">Invest in PAR01</a>
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Enmore (ENM01)
Distribution: $1,700 or $0.17 per Brick
Brick Price: $68.00*
Investors: 578*
<a href="https://brickx.us8.list-manage1.com/track/click?u=c85d85c62b9a47be6dc88e065&amp;id=1c3c3d9b18&amp;e=be9a375222">Invest in ENM01</a>
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Anthony Millet, the BrickX chief executive, said they were working towards having 100 properties. 
A waiting list has been commenced for potential investors in the Double Bay investment trust.
*Brick Prices and Investors as at October 5, 2016.
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BRICKX pays monthly rental distributions to property investors

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To celebrate International Childhood Cancer Awareness Month, the Children’s Cancer Institute, PRDnationwide Newcastle &amp; Lake Macquarie, McDonald Jones Homes and McCloy Group have joined forces to undertake an extraordinary challenge; building a house in 21 days!
Work began on 29 August, 2016 at Billy’s Lookout, Teralba, Lake Macquarie NSW to build the 4 bedroom, 2 bathroom luxurious Portsea One home by McDonald Jones Homes.
The architecturally designed home has been built on 600 sq m of land donated by McCloy Group using materials and labour gifted by many generous partners, including Austral Bricks.
Scott Cam of The Block revealed the completed home, fully furnished by Freedom, with all kitchen and laundry appliances provided by Electrolux and home entertainment by Panasonic.
It will be auctioned October 23, 2016 the home through PRDnationwide Newcastle and Lake Macquarie by leading auctioneer, Damien Cooley.
100 percent of proceeds from the sale of the home will go to the Children’s Cancer Institute to fund medical research. 
For more information, <a href="https://buildforacure.org.au" target="_blank">click here</a>.
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Build for a cancer cure home up for auction at Teralba

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Virtuoso, the West End riverfront development from Stockwell, recently sold 12 residences in 12 days.
The project sits on the former site of the Queensland Symphony Orchestra has three, four, and five bedroom residences, each with river views.
Selling agent for Virtuoso, Liz McSweeney, has been selling property in West End for six years and says its struck a chord with many owner occupiers. 
For more information, <a href="https://www.virtuosowestend.com.au" target="_blank">click here</a>.
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Luxury West End residential development sells 12 residences in 12 days

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Sekisui House, the world's largest residential construction company, has secured the sale of 90 per cent of its latest tranche of SHAWOOD homes within the first week of release at The Hermitage, at Gledswood Hills.
Suggesting south-west Sydney’s housing market remains extremely strong, the limited number of four bedroom single and double-storey homes were released for purchase in the last week of September with prices ranging from $749,000 to $782,000.
With ranging in size from 242 square metres to 251 square metres, the pre-engineered SHAWOOD Homes were located within the premium precinct of Donohue’s View in The Hermitage masterplan.
<img src="/images/2016/10/06/The%20Hermitage%20Growing%20A%20Thriving%20Community.jpg" alt="">
Sekisui House's Brent Thompson said that home buyers had a desire for space and design in a great location, all factors which made the SHAWOOD release attractive.
For further information, visit the sales and information centre located on the corner of Fairbank Drive and Camden Valley Way, Gledswood Hills in South West Sydney. For more information on SHAWOOD homes, visit <a href="https://www.shawoodaustralia.com.au" target="_blank">www.shawoodaustralia.com.au</a>
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Strong interest in Sekisui House's SHAWOOD release

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Demand for properties in Melbourne's south-east has created an apartment building boom among the city's 'sandbelt suburbs'.
Clayton South, Mentone, Moorabbin, Mordialloc and Oakleigh, in particular, are experiencing a surge in apartment buildings.
A report prepared by Urbis in August states that there are currently 25 developments within the area that will create 1,534 new apartments within the next three years.
Cedar Woods state manager, Patrick Archer, states that the growing demand in Clayton South and neighbouring sandbelt suburbs were key factors when choosing to create the company’s masterplanned Jackson Green community.
With apartment prices comparable to inner-city suburbs, sandbelt neighbourhoods are becoming increasingly popular for providing buyers with larger apartment sizes than their city counterparts.
Sales recently commenced at Cedar Woods' Jackson Green community for their Wattle Apartments.
The boutique apartments offer buyers the opportunity to purchase one bedroom one bathroom, two bedroom one bathroom and two bedroom two bathroom apartments ranging from 50-52 square metres, 73 square metres and 71 square metres to 75 square metres respectively.
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Melbourne sandbelt booming as Cedar Woods' Jackson Green launches boutique Wattle apartments

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Arncliffe is the NSW location where there has been the biggest increase in unit stock compared to last year, according to Investar’s latest market report.
The property advisory firm states that Arncliffe has experienced a unit listing growth of 223 percent, up from 21 to 68 over the past 12 month period.
This is followed by Campbelltown, up from 30 to 80 and Epping, up from 32 to 78 units on sale.
<a href="/images/2016/10/11/Screen%20Shot%202016-10-11%20at%209.05.57%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/11/Screen%20Shot%202016-10-11%20at%209.05.57%20AM.png" alt="">
This list was produced using historical listing data at a suburb level for units.
It is designed to identify the suburbs with the biggest increase in stock on market for the current month when compared to the stock on market for the same period 12 months ago.
A large increase in stock on market could indicate weakening demand conditions or an increase in supply from growing activity in the market.
Units for sale at around the $680,000 median in Arncliffe includes a two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-arncliffe-123669846" target="_blank">H204/9-11 Wollongong Rd</a> (above) that is for sale for $685,000.
Similarly, a two bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-arncliffe-122350770" target="_blank">107/9-11 Wollongong Rd</a> (below) was recently sold for $695,000.
<img src="/images/2016/10/05/1079-11%20Wollongong%20Rd.jpg" alt="">
 
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Arncliffe apartment listings soar to NSW top spot: Investar

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Close to four years of yield compression has pushed Sydney’s CBRE office yields to a historical, pre-GFC low.
There's potential to fall further, new research from CBRE suggests.
A new report from the group highlighted that Sydney CBD core prime office yields reached a nine-year low of 5.2% in Q3, while secondary yields are 20 basis points off their pre-GFC low of 5.9%.
CBRE’s Michael Pisano said while the office sector was reflecting similarities with the market pre-GFC, there were key differences that suggest the current growth cycle could be maintained for longer.
“Capping off an impressive run in yield compression over the past three and a half years, Sydney CBD office yields have reached pre-GFC lows - without the same level of market rental growth to stimulate pricing when compared to the market in 2007,” Pisano said.
“Evidencing this, the drivers of the current market are vastly different when compared to the previous cycle, which further suggests a greater degree of sustainability.”
CBRE head of research Stephen McNabb said the Reserve Bank’s approach to monetary policy had created an environment that was conducive to a healthy commercial property market.
“A long period of lower interest rates has been the key stimulus to the current cycle, however the next phase will be supported by lower vacancy rates and forecast rental growth,” McNabb said.
“The other difference between now and the pre-GFC peak is that the fundamental outlook for the Sydney office market is looking solid. Vacancy - currently 5.6% - is expected to fall to 3.3% by 2018 and prime effective rent growth is running at a 23% annual rate in Q3 2016.
“Importantly this rent growth is following, not leading, the yield compression which is in stark contrast to the performance of the office market after the GFC.”
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Sydney CBD office yields at pre-GFC lows

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Auction volumes fell significantly last week due to long weekends and the AFL and NRL grand finals with just 872 capital city auctions, down from 2,480 the previous week.
CoreLogic collected results for 81% of auctions over the week. The final clearance rate was recorded at 75.8%, up from 75.4% over the previous week. In Melbourne last week there were 114 auctions, down from 1,103 the previous week.
On a much lower volume, the auction clearance rate jumped to 87.2% from 77.2% the previous week. Sydney’s auction clearance rate was recorded at 82.5% across 530 auctions last week, with clearance rates increasing from 80.4% over the previous week across 946 auctions.
Melbourne auction clearance rate has now been above 75% for eight consecutive week while in Sydney clearance rates have been above 80% for five weeks in a row. With auction volumes set to surge much higher this week it will be interesting to see if the recent auction market strength can be maintained.
Number of homes for sale <a href="/images/2016/10/06/Number%20of%20homes%20for%20sale.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/06/Number%20of%20homes%20for%20sale.jpg" alt="">
There were 45,634 newly advertised properties added to the market nationally over the past 28 days, which was 0.5% higher than at the same time a year ago. There were 231,650 total properties advertised for sale over the same period, which was -1.9% lower than a year ago.
Across the combined capital cities, there were 27,337 newly advertised listings over the past 28 days, which was -2.6% lower than a year ago, and 103,739 total listings which was 3.4% higher than a year ago.
Newly advertised listings are currently lower year on year in Sydney (-16.1%), Melbourne (-2.2%), Adelaide (-2.5%) and Canberra (-4.7%) with new listings higher elsewhere. In terms of total properties advertised for sale, supply is lower than a year ago in Sydney (-4.1%), Hobart (-26.9%) and Canberra (-12.8%).
Despite the fact that new and total listings are slightly lower year on year, the number of both have been trending higher. However, the most recent weak has seen a moderate decline in both new and total listings.
<img src="/images/2016/10/06/Capital%20city%20auction%20clearance%20rates.jpg" alt="">
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Sydney spring property listings down 16%: CoreLogic

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Joel Robinson

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

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