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A three-bedroom, two-bathroom mortgagee apartment in Chatswood has been listed for $2,850,000 through Ray White
The <a href="https://www.raywhite.com/nsw/chatswood/1898211/" target="_blank">Post Office Lane property</a> sits on the 37th floor of the highly sort after Metro Residence that showcases vast 270 degree views of Sydney and the Pacific Ocean.
The open-plan living expanse connects to a north facing outdoor room welcoming both natural light and panoramic district vistas through a selection of picture windows. 
The Miele kitchen features a stone topped island bench and effortlessly interacts with the dining and living areas. 
Equipped with an abundance of storage, each bedroom boasts built-in robes in addition to three linen cupboards within the wide hallway. 
The apartment is easily accessible with multiple lifts linking to the secure double parking and a luxurious entry foyer positioned directly opposite Woolworths adjoining the Chatswood Train Station. 
The apartment last sold for $2,310,000 last February, and $1,370,000 in 2011. 
According to Realestate.com.au, 25 other three-bedroom apartments in Chatswood have recently been sold, with the latest being a three-bedroom, two-bathroom apartment on Katherine Street which sold for $2,350,000 on March 4, 2020. 
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j.ballantyne1990-6AQqhLzZaK

Chatswood mortgagee apartment listed for $2.85 million

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A stylish mortgagee apartment on level 44 of the iconic 'World Tower' in Sydney has been listed for sale by McGrath.
The <a href="https://www.realestate.com.au/sold/property-apartment-nsw-sydney-131090298" target="_blank">Liverpool Street two-bedroom, two-bathroom apartment</a> has unobstructed views of the city and Darling Harbour.
The cosmopolitan apartment has spacious interiors including open plan living and dining area, winter garden and balcony. 
The kitchen is fitted with stone benches, and Smeg appliances with a gas stovetop, and the contemporary bathrooms are fitted with stone vanities and an internal laundry. 
The World Towers offers secure entry and concierge as well as resort style facilities including a gym, pool, spa/ sauna and cinema. There is also level access to basement parking which can be accessed via lift. 
This property was last sold for $1,320,000, last July, and $800,000 in 2007. 
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Sydney CBD mortgagee apartment listed

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A waters-edge family mortgagee home in Lugarno has been listed for sale through McGrath estate agents Hayden Duncan and Olivia Duncan. 
The <a href="https://www.realestate.com.au/property-house-nsw-lugarno-133390202" target="_blank">Forest Road property</a> has been freshly painted, carpeted throughout, and afford home renovators or large families an opportunity to secure a large volume home at entry level pricing.
The 562 sqm house has five large bedrooms with built-in robes, large timber kitchen, an external laundry room, and spacious living and dining with a fireplace.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/14/1_Mortgagee%20Living%20Room.jpg" alt="">
Outdoors, there is a paved entertaining area with a secure grass yard, a tandem lock up garage, and abundant additional storage. 
Built in 1980, the house was last sold for $690,000 in 2010. 
According to Domain, ten other five-bedroom houses in Lugarno have recently been sold. 
Most recently, a similar five-bedroom, three-bathroom house on Booyong Avenue in Lugarno sold for $1,440,000, and another on Maple Street for $1,250,000, reports Realestate.com.au. 
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Lugarno water-edge mortgagee house listed

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The NSW Government has outlined its plan to reform developer levies and contributions to unlock new housing supply, deliver vital community infrastructure and boost investment in NSW.
Planning and Public Spaces Minister Rob Stokes today announced he had appointed Productivity Commissioner Peter Achterstraat to undertake a review of the current contributions and provide recommendations for a new system by the end of the year.
“Our pathway forward includes a mix of quick wins and longer-term reforms, which will ensure NSW remains the economic powerhouse of Australia," Mr Stokes said
$70 million will also be invested to co-fund vital new community infrastructure in the high-growth areas of North West Sydney where thousands of new houses are being built.
“Our population is growing, and we need to make sure that where we’re unlocking housing supply, we’re also facilitating the delivery of vital community infrastructure so people are moving in to connected and vibrant communities,” Mr Stokes said.
A series of more immediate changes will also be released today for public comment, including measures to require councils to publish how much they have collected in developer levies and where they have been spent, new guidelines related to the State’s Special Infrastructure Contributions, options to simplify and shorten the process for reviewing s7.11 local contributions plans, and proposed changes to s7.12 levies and voluntary planning agreements.
NSW Treasurer Dominic Perrottet welcomed the appointment of Mr Achterstraat, and said the overhaul of the system would help boost the NSW economy at a critical time.
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NSW's plan for contributions reform and developer levies

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There has been an overall decline in job ad volume, down -33.9% year on year to March 2020, according to the latest SEEK Employment Report.   The industries contributing most significantly to the overall decline in job ads are Trades &amp; Services, Information &amp; Communication Technology and Hospitality &amp; Tourism.   SEEK also acknowledges the rapid decline of the labour market throughout March. In the last month, national job ads declined significantly week on week compared to the same week last year. Since the beginning of March, national job ads have declined by;  
<ul>
<li>12.6% in week ended 8 March.</li>
<li>17.3% in week ended 15 March.</li>
<li>41.3% in week ended 22 March.</li>
<li>64.6% in week ended 29 March.</li>
</ul>
Kendra Banks, Managing Director, SEEK ANZ commented, "the coronavirus pandemic has caused widespread disruption to the labour market and SEEK is seeing a range of industries respond in very different ways.   "Hospitality and Tourism was one of the first sectors to be impacted by the pandemic. Job ads declined week on week throughout March, starting at -13%, then -26%, then -69.2% and by the final week of March, down -84.1%. SEEK saw employers and business owners looking for roles within the sector, such as bar staff, housekeeping, guest services, tour guides, airline staff and travel agents, cease or stall their plans completely, which is a direct result of the restrictions imposed by authorities such as international borders closing and social isolation measures."   "However, while still in decline, the Community Services &amp; Development and Healthcare &amp; Medical sectors are showing some pockets of activity, as governments and service providers aim to meet community demand. Roles in aged care and disability support, and child welfare, youth and family services have remained steady as have nurses practicing general medical and surgical, as well as critical care and ICU" "We know that employers are either scaling up or winding back their recruitment needs at a rapid pace, and there are far greater applications per job ad than what we typically see across almost all sectors."   "Our advice for jobseekers is to keep your SEEK profile up to date and follow the application process. Employers have been inundated with applications so standing out and being competitive by tailoring your resume to the job ad, being clear about your skills and experience which directly align to the job you’re applying for throughout the recruitment process is vitally important."   "As the coronavirus pandemic continues to unfold, we continue to watch the movements in the labour market very closely to understand how each sector is responding with regards to hiring intentions and business activity”. Figure 1: National SEEK Job Ad growth by state (March 2020 vs March 2019)
<img src="https://mcusercontent.com/3e29690342dff21ae5a0e2255/images/c2d86dac-3b7f-4c44-9bc7-2f5a5baa45ea.jpg" data-imagetype="External">
Figure 2: National SEEK Job Ad growth by industry (March 2020 vs March 2019)
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Job advertisements down 34% in COVID-19 pandemic: SEEK

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In the wake of the coronavirus outbreak and the associated shutdown of economic activity, sentiment towards residential property and all sectors of commercial property declined sharply, according to the ANZ.
In their June Quarter ANZ property council survey in answer to new questions, specially set for this survey, they found that expectations of a negative impact from the coronavirus were broadly based and similar across the states. Nationwide, virtually all respondents expect to be negatively impacted by the pandemic, with all states recording similar responses.
10% of businesses report that the impact is already so serious it is affecting their viability. A large majority of firms reported that the virus was already impacting current construction schedules. Firms expect the impact of the virus to be largest on the tourism sector. 
In the residential sector, price expectations have turned around sharply and a net 36% of respondents now expect house prices to decline over the next year.
Employment in the sector is also expected to decline, but the outlook for construction activity is more balanced. The outlook for the residential sector is negative across all states and territories. 
In commercial property, across all sectors and states sentiment declined sharply. Confidence in the tourism and retail sectors was the weakest, but sentiment also declined sharply in the office and industrial sectors.
ANZ Senior Economist Felicity Emmett said, "after recovering through much of 2019, property sentiment has taken a hit from the coronavirus and the shutdown measures put in place by the federal and state governments to contain it."
"Just as the lockdown measures have been broadly-based, the deterioration in sentiment has been equally widespread. Sentiment across the residential, office, industrial, retail and tourism sectors have all been sharply impacted."
"Not surprisingly, the tourism sector has been the hardest hit."
"Across all sectors, price expectations have turned around sharply, employment prospects have deteriorated and the construction outlook has turned down."
"The construction sector is not subject to a shut-down at present, but the downturn in the outlook is concerning, and suggests that the impact of the virus may be more long lasting on the property sector. With long lags associated with construction approvals, commencements and completions, a quick rebound once the lockdown is eased seems unlikely"
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Coronavirus infecting property sentiment: ANZ

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A custom built beachside home in Mount Eliza, Victoria has hit the market with $3.85 million hopes. 
The five bedroom, two bathroom house is sitting on an 816sqm block <a href="https://www.realestate.com.au/property-house-vic-mount+eliza-133338210" target="_blank">3 Rendlesham Avenue</a>. 
Sitting on an 816sqm block, the  home comes with gourmet kitchen, two living zones, entertaining terrace and gas-heated pool. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/14/mount%20eliza%202.jpg" alt="">
Other features include open fireplace, treetop views over busload reserve, handmade stone feature walls, and remote double garage.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/14/mount%20eliza%203.jpg" alt="">
Located within the Ranelagh Estate, the house is just a short stroll to the Ranelagh Club, the beach and the village. 
Nicholas Lynch of Nicholas Lynch Real Estate has the listing. 
 
 
 
 
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Mount Eliza trophy home with views of bushland reserve hits the market 

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Antonia Mercorella, the CEO of the REIQ says the Queensland Government's proposed measures in the COVID-19 are the most onerous of their kind for property owners across all the states.
With landlords and real estate professionals emailing hundreds of letters to the Premier opposing the proposed measures, the REIQ is calling on the Palaszczuk Government to amend aspects of the proposed laws set to be debated in parliament today.
The measures include a rental grant of up to $2000 per person for COVID-19 affected tenants who have exhausted all other financial options.   
The REIQ wants the legislation to have rent deferrals rather than permanent rent waiver rights for tenants.
"This aligns with the Federal Government model and framework adopted/being adopted in other jurisdictions," Antonia Mercorella said.
“We support the protection of tenants who are in financial distress due to this pandemic.
"However, the scope of these proposed measures are too broad in their application.
"In fact, they are the most onerous of their kind for property owners across all Australian jurisdictions to date.”
The REIQ is calling for a minimum income reduction threshold for tenants to meet before they qualify for the protection measures as in New South Wales, a 25% income reduction requirement applies.
It also wants a standard requirement for tenants to substantiate a rent reduction request to allow landlords to make properly informed and fair decisions about rent reductions.
It seeks to scrap the proposed break lease right that allows tenants to simply walk away from tenancy agreements with only one weeks’ notice notwithstanding that those tenants are afforded all the other protections provided under the Renter Protection Package; and to also remove the proposed automatic right to a 6-month tenancy agreement extension which in effect introduces a 12-month moratorium in Queensland with the consequential imposition of permanent rent waivers that would be extended over this additional period.
“The current protection measures clearly ignore the voices and rights of property owners.
"Property owners, like tenants, are entitled to be supported by COVID-19 regulatory protections that support the entire rental market,” says Ms. Mercorella.
"And once landlords discover the true extent of these distorted reforms, it will cause a revolt of a kind not seen before in a residential tenancy context.”
Queensland, like NSW, will both provide up to a 25 percent discount on land tax for the 2020 calendar year as part of packages worth $400 million and $440 million respectively, on the proviso savings are passed to tenants in the form of rental relief.
 
 
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REIQ leads revolt against Queensland Government's COVID-19 tenancy protections

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Interstate and local buyers have helped drive luxury apartment sales at Signature Broadbeach to a total of $153 million following a busy start to 2020 for the developer Little Projects and marketing agent KM Sales and Marketing.
Sales gathered pace in the first quarter of the year as construction progressed on the $210 million project, which is backed by high-profile Melbourne businessman Paul Little.
Director of KM Sales and Marketing Jayde Pezet said the sales to date mark a successful debut to the Gold Coast market for Little Projects.
“We are pleased to announce that Signature Broadbeach has now secured buyers for 184 of its 245 apartments since its launch,” Mr Pezet said.
In its latest construction update, Little Projects says basement foundations and perimeter walls have been completed and excavations for the four-level basement carpark are well advanced. 
The tower crane is expected to be on site in late April as construction progresses in earnest on the 35-storey development.
Designed for resort-style living in the heart of Broadbeach, Signature Broadbeach is proving to be ‘something for everyone’, including international buyers, according to Leighton Pyke, director of Little Projects.
“Sales and inquiries are coming from a variety of quarters, largely local owner-occupiers and interstate investors, primarily from Sydney, Melbourne and rural Victoria,” said Mr Pyke.
“Interstate investors are purchasing for an income earning lock-and-leave holiday home on the Coast, and that’s been a solid trend since the launch of this project.
“We’ve also had a number of international investors among our buyers, mainly from New Zealand and Japan. Inquiries have been quite healthy across the board.”
Signature Broadbeach has been specifically designed to offer the best in resort-style living within easy access to the urban amenities of one of the Gold Coast’s most sought-after beachside suburbs.
Located at 12-18 Philip Avenue, it is just half a block from a patrolled beach and one block from the centre of Broadbeach. It is within walking distance of Pacific Fair, Star Casino, the Gold Coast Convention and Exhibition Centre and the café and dining heart of Broadbeach.
The development offers a combination of one, two and three-bedroom apartments, all oriented towards the ocean to maximise views, with prices starting from $515,000.
Award-winning design team Rothelowman and SJB Interiors have crafted the project and its interiors with the apartment owner in mind.
“The quality of fittings and the level of resident amenities are among the highlights that buyers have noted within this development, and it’s just as important for investors as it is for the many owner-occupiers who have been won over by Signature,” said Mr Pyke. 
Residents’ amenities include a 50-metre infinity-edge pool and a recreational heart known as Deck at Signature. This comprises an entire level featuring a landscaped lawn area, barbecue and teppanyaki facilities, private lounge and dining room, sauna, steam room and spa, gymnasium and cinema.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/14/Pool%20-%20Signature%20.jpg" alt="">
Signature Broadbeach is a joint venture between Melbourne-based, international award-winning Little Projects, chaired by Mr. Little, and KM Develop, a leading Australian property development business led by Haydn Law.
Little Projects are considered Melbourne’s premier private developer having delivered over 2,000 apartments and townhouses across the city.
 
KM Develop, operating since 2002, have a combined 65 years’ experience, specialising in project acquisition, development and delivery.
Together the renowned developers have delivered projects totalling over $3.5 billion across residential and commercial markets throughout Australia. 
The luxury Signature Broadbeach development is scheduled for completion in the first half of 2022.
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Interstate and local buyers drive sales at Signature Broadbeach to $135 million

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The impact on the business sector of Coronavirus containment measures has been immediately obvious, reports the NAB Monthly Business Survey. 
Business confidence saw its largest decline on record and is now at its weakest level in the history of the NAB business survey (including the quarterly).
Alan Oster, NAB Group chief economist said "worryingly but not surprisingly, business’s outlook is the weakest ever. Business confidence has fallen to its lowest ever level – and in a single month. Business has essentially told us that trading conditions, profitability and employment all went backwards in a big way in the month”.
“The decline in confidence was wide-spread across industries with most industries recording falls largerthan 60 points. The decline in conditions was also sharp, and there may be more to come” said Mr Oster.
“Forward orders and capacity utilisation also declined sharply. The decline in forward orders suggests that activity will weaken further in coming months. Capacity utilisation is at its lowest level ever, but could also decline further as containment measures remain in place” said Mr Oster.
This is somewhat unsurprising given the recent escalation of widespread containment measures, which are unlikely to be lifted in the near-term and the risk of further escalation. Business conditions also declined sharply in aggregate and across the bulk of industries.
Recreation &amp; personal services saw the largest hit, unsurprising given the effective shut down of these sectors. Forward orders collapsed to their lowest level on record, while capacity utilisation also saw a sharp decline. Overall, the decline in forward orders and business conditions imply a large fall in GDP in the next six months.
While it is unlikely that the unprecedented policy support targeted at the business sector will be unable to offset the near-term pain, it will be very important in supporting activity in the recovery phase.
<img src="https://www.urban.com.au/images/2020/4/14/6_CHART1.png" alt="" width="413" height="290">
Source: NAB Monthly Business Survey March 2020
The timing of a recovery is extremely uncertain at this point, but supporting business sector cashflow and the ability to hold onto employees will need to remain a focus.
There is significant risk that a blow to confidence of this magnitude for an extended period could lead to ongoing fallout in terms of employment growth and capital expenditure by business. This has been reflected in the response of policy makers to date.
Both business confidence and conditions recorded their largest monthly falls on record in March. Business confidence fell to -66 index points – its lowest level on record. Business conditions fell to -21 index points, slightly weaker than the GFC but well above the trough seen in the 1990s recession. The decline in conditions was driven by a fall in all three components, with profitability weakest at -27 index points.
Business cashflow also deteriorated in the month reflecting the issue faced by the business sector of slowing sales or forced closures while fixed costs continue.
“While almost everyone expects a fairly rapid bound back in activity once the spread of the coronavirus is contained and social distancing rules are relaxed, the immediate worry for the business sector is the impact on cashflows. Without cashflow support, it is likely many businesses will be severely impacted and unable to return to operations once the economy begins to recover. This has been an important focus of policy makers.” Mr Oster said.
“We expect a recession of unprecedented speed and magnitude for the Australian economy over the next three quarters. This will see a sharp increase in unemployment. Policy makers have made a huge response that we think will be unable to offset the negative prints we will see in economic data in the near term but we are optimistic these actions will support a solid recovery once the virus is contained” said Mr Oster.
“For now more businesses expect it to get worse before it gets better. It could well be that conditions fall to the lowest level since the 1990s recession in coming months – but we will be closely watching the survey for a turn in business confidence which may take some time to recover following an economic shock of this magnitude” said Mr Oster.
<img src="https://www.urban.com.au/images/2020/4/14/7_Table%201.png" alt="" width="520" height="364" style="caret-color: #000000; color: #000000; font-family: -webkit-standard;">
Source: NAB Monthly Business Survey March 2020
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A huge hit to the business sector from coronavirus, NAB anticipates

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

Joel Robinson

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

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

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

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Staff reporter

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