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<p class="legacy">EXPERT OBSERVATION </p>
<p>Australia’s three-decade run of near continuous economic growth is set to end, with treasury warning of a hit to growth of “at least” 0.5% in the first quarter of this year, potentially followed by a “prolonged downturn”.</p>
<p>If it came to pass, treasury’s preliminary assessment would most likely mean economic growth vanished and went backwards for several quarters, producing what is commonly known as a “<a href="https://www.smh.com.au/politics/federal/the-really-lucky-country-talk-of-recession-as-australia-takes-world-record-20170601-gwiiwl" target="_blank">technical recession</a>” – two quarters or more in which income and spending shrink.</p>
<p>Providing the <a href="https://treasury.gov.au/speech/opening-statement-march-2020-senate-estimates" target="_blank">assessment</a> to a Senate estimates committee on Thursday morning, treasury secretary Steven Kennedy said the COVID-19 coronavirus would take “at least half a percentage point” from economic growth during the current March quarter and more beyond that.</p>
<p>In recent quarters economic growth has been about half a percentage point.</p>
<p><strong>Quarterly GDP growth</strong></p>
<p><a href="https://images.theconversation.com/files/318783/original/file-20200305-127918-160glbr.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/318783/original/file-20200305-127918-160glbr.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a></p>
<p>Treasury’s preliminary estimate of a hit of at least half a per cent took into account only the direct impacts of the virus on tourism and education, and some exchange rate effects.</p>
<p>It did not take into account broader economic effects or the impact of the coronavirus on supply chains.</p>
<p>The half a percentage point hit to growth would come on top of a hit of 0.2% from the summer bushfires, most of which would be felt in the March quarter.</p>
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<p><em> <strong> Read more: <a href="https://theconversation.com/support-package-gains-shape-as-gdp-turning-point-swamped-132969">Support package gains shape as GDP turning point swamped</a> </strong> </em></p>
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<p>Dr Kennedy, a former nurse who retrained as an economist, stressed that the impact of the bushfires would extend well beyond the immediate hit to economic growth.</p>
<p>“Evidence from past episodes suggest bushfires can lead to long-lasting physical and mental health effects and destroy cultural heritage,” he said.</p>
<p>“Research by the University of Melbourne after the Black Saturday bushfires in 2009 found mental health problems continued for three to four years.”</p>
<p>The bushfires made clear the increased probability of such events in a world of climate change.</p>
<p>“The CSIRO predicts climate change will make bushfires more likely, as fire weather patterns worsen as a result of an increase in weather patterns with hot and dry winds and fuel becoming drier.”</p>
<p>Deeper, wider and longer lasting than SARS</p>
<p>As of Wednesday there had been 91,868 confirmed COVID-19 cases worldwide and 3,131 deaths, most in China. COVID-19 had spread to 77 countries.</p>
<p>When the virus first emerged in China in December, the treasury saw it through the lens of the 2002-04 Severe Acute Respiratory Syndrome (SARS) pandemic.</p>
<p>It was now clear COVID-19 would be different.</p>
<p><em>The impact of SARS took on a V shape, a relatively contained reduction in activity, mostly in Asia, followed by a quick bounce back.</em></p>
<p><em>The economic impact of COVID-19 is likely to be deeper, wider and longer when compared with SARS.</em></p>
<p><em>It will create more risk of a prolonged downturn, and fiscal support will be needed to accelerate the recovery of the economy, especially once the health and health management effects of COVID-19 begin to fade.</em></p>
<p>The first phase of the economic support package to be delivered next week would target assistance to the businesses and sectors most affected in order to keep people in jobs.</p>
<p>After that, support for aggregate demand (overall spending) would become more important.</p>
<p>“A very substantial part of the impact is actually confidence among consumers and the business sector because of the uncertainty,” Dr Kennedy said.</p>
<p>“Frankly, effective health management will be very important. The economy is actually quite solid. One of the key things will be to to explain to the community how well placed the economy is to manage such a short-term shock.”</p>
<p>The shock would last for some time but the economy would “recover on the other side”.</p>
<p>Keeping workers employed would be very important.<img src="https://counter.theconversation.com/content/133053/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;"><em></em></p>
<p><em><a href="https://theconversation.com/profiles/peter-martin-682709">Peter Martin</a>, Visiting Fellow, <a href="https://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292">Crawford School of Public Policy, Australian National University</a></em></p>
<p><em>This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/economic-growth-near-an-end-as-treasury-talks-of-prolonged-coronavirus-downturn-133053">original article</a>.</em></p>
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j.ballantyne1990-6AQqhLzZaK

Economic growth nearing an end as Treasury talks of prolonged coronavirus downturn: ANU's Peter Martin

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<p>A Cranbourne West, Victoria mortgagee home has sold under the hammer for $473,500 early this march.</p>
<p>It came with a price guide of $460,000 to $500,000.</p>
<p>Darren Saxon of LJ Hooker is marketing the four bedroom, two bathroom property</p>
<p>Situated at <a href="https://www.realestate.com.au/property-house-vic-cranbourne+west-132964834" target="_blank">28 Bellbrae Crescent</a>, the home last sold for $330,000 in 2013 a making a loss on it's previous sale.</p>
<p>It sold for $365,000 in 2011.</p>
<p>Set on 641 sqm, the listing describes the home as a "fantastic first home or investment."</p>
<p><a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a></p>
<p>The median price for a house in <a href="/developments/cranbourne-west-vic-3977">Cranbourne West</a> is $516,277, according to CoreLogic data.</p>
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Cranbourne West, Victoria mortgagee home sold at auction

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<p>A Gosnells, West Australia home listed a mortgagee sale for $250,000 is now under offer following an unusuccessful two year campaign.</p>
<p>Originally listed for <span>$399,000 to $439,000 during the 2017-2019 marketing campaign, it is now being offered for $250,000.</span></p>
<p><span>Rick Rispoli of LJ Hooker is marketing the three bedroo, two bathroom house.</span></p>
<p><span>Situated at </span><a href="https://www.realestate.com.au/property-house-wa-gosnells-132472226" target="_blank">22A Bert Street</a>, the home last sold for $380,000 in 2015.</p>
<p>Set on 935 sqm, the listing described the home as "suited for the savvy investor/developer" as it is zoned <span>R30/R40.</span></p>
<p>Built in 1956, the home was listed as a rental seeking $220/pw in 2018.</p>
<p><a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a></p>
<p>The median price for a house in <a href="/developments/gosnells-wa-6110">Gosnells</a> is $276,000, according to CoreLogic data.</p>
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Gosnells, WA mortgagee home listed for $130,000 reduction in value under offer

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<p>In 2019, the Sunshine Coast property market was a tale of two halves, according to a recent Herron Todd White (HTW) residential report. </p>
<p>The report notes that the first half of 2019 saw a slow down on the back of the slowing Sydney and Melbourne markets, the effects of the banking royal commission and the lead up to the federal election in May.</p>
<p>Move ahead a few months and all these concerns appeared to be turned around. An election result perceived by the market to be favourable, improvement in the Sydney and Melbourne markets and passing effects of the Banking Royal Commission all led to an injection of confidence. The end of 2019 finished very well.</p>
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<p><span>"As always, the first quarter will be a good indicator on how the year will unfold. Should the Sydney and Melbourne markets continue to perform well, this will be a good sign for the coast market. </span></p>
<p><span>"Unfortunately, like 2019, 2020 has the dark cloud of not one but two elections looming. The local government election is set down for the end of March and the state election set for the end of October. Uncertainty always presents a challenge to the market," the valuation firm stated. </span></p>
<p><span>The report notes coastal areas with proximity to the beach are always highly sought after. The coast lifestyle is a major driving factor and there is no reason this will not continue. The coastal strip from Noosa to Caloundra in the sub-$800,000 price range is expected to continue to be in demand.</span></p>
<p><span>A beachfront three bedroom apartment in Caloundra was sold for $870,000 in February. </span></p>
<p>The apartment at <a href="https://www.realestate.com.au/sold/property-apartment-qld-caloundra-132489390" target="_blank">415/10 Leeding Terrace </a>(pictured below) located right on Bulcock Beach. </p>
<p><span>It comes with master bedroom with ensuite, two bathrooms and two car spaces.</span></p>
<p><span><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/2020/3/9/caloundra%202.jpg" alt=""></span></p>
<p><span>"It is expected that the larger estates of Aura located to the south of Caloundra and the Harmony </span>Estate at Palmview will continue to generate good interest from both owner-occupiers and investors.</p>
<p>"We also expect to see good interest in the hinterland subdivisions in the railway townships such as Habitat in Palmwoods, with larger land sizes being the driver," the valuation firm said. </p>
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<p><span>There are a number of unit complexes under construction with some due for completion this year. </span></p>
<p><span>"From what we have seen, the majority of interest is in owner-occupier style units and complexes that directly target this market are going well. Smaller, investment grade units have been lagging, especially if they suffer from high body corporate fees making it difficult to make a return. The established unit product is also influenced by this," the valuation firm said. </span></p>
<p><span>The prestige markets across the coast have been operating at a number of different speeds. </span></p>
<p><span>The areas in and around Caloundra to the south and Mooloolaba and Maroochydore to the central parts of the coast have been turning over and have been pretty steady with some good prices. The headline continues to be the Noosa Heads region on the northern coast, which finished </span>off the year well with some record prices being recorded.</p>
<p>"An example of this is the recent sale of <a href="https://www.realestate.com.au/sold/property-unit-qld-noosa+heads-131831462" target="_blank">a Hastings Street beachfront unit, Unit 6, Noosa Court</a> (pictured below) for $9 million or $37,500 per square metre and this wasn’t even the best unit in the complex!</p>
<p><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/2020/3/9/noosa%20heads.jpg" alt=""></p>
<p>"We have initial reports of a beachfront unit that is under contract for circa $42,000 per square metre. This market is heavily influenced by the Sydney and Melbourne markets, so the improved confidence there has helped as well as ex-pat and international buyers becoming more active on the back of the weak Aussie dollar," the valuation firm said. </p>
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<p><span>The report notes the good news stories continue to be the considerable infrastructure projects underway that should attract new investment to the coast. </span></p>
<p><span>The Maroochydore CBD and Sunshine Coast Airport expansions have been moving along with the Sunshine Coast International Broadband Submarine Cable project dovetailing in beautifully. Providing Australia’s fastest telecommunications connection to Asia and the second fastest to the United States is an unbelievable opportunity for a regional centre.</span></p>
<p><span>"2020 is still expected to see some good activity across the residential market. Will it be as strong as 2019 is anyone’s guess given the two looming elections. There is one thing for certain - the Sunshine Coast appears to be positioned well for the future." </span></p>
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Sunshine Coast infrastructure projects continues attracting investors in 2020: HTW residential

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<p><span>As the Rockhampton and surrounding residential markets enter 2020, there is a feeling of optimism and increased confidence for the year ahead, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span> The report notes the close of 2019 saw increased sales activity, shorter selling periods and a firming of sale prices. In particular, well maintained and well-presented owner-occupied homes in sought-after suburbs have been leading the charge.</span></p>
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<p><span>Many agents are reporting a shortage of listings due to having sold the majority of their stock. For the first time in many years, buyers are feeling the pinch with stories emerging of some now starting to miss out on their first choice of homes.</span></p>
<p><span>"Vacancy rates reduced dramatically throughout the course of 2019 and are currently very tight. This has resulted in an increase in rents which we anticipate will hold firm during 2020," the valuation firm said. </span></p>
<p><span>"So, you ask, what’s driving the change?</span></p>
<p><span>"Well, we are now seeing significant government infrastructure projects coming to fruition, particularly Main Roads committing to major upgrades including the Gracemere duplication, Parkhurst corridor and of course the Rockhampton Ring Road which is now in the early stages of planning and resumption," the valuation firm said. </span></p>
<p><span>This combined with </span>a surprise federal election result in May 2019 gave Central Queensland a boost in confidence, particularly in the resource and mining sectors which have largely experienced improvements in production, and created new jobs throughout the latter half of 2019.</p>
<p><span>"In summary, all the key components are there for what should be a positive year ahead with firming conditions predicted in what is shaping up to be a recovery year for the region. After all, it has to be said that the past seven to eight years have largely been disappointing from a property and economic perspective." </span></p>
<p><span>A riverfront apartment in Rockhampton City has recently been sold for $650,000.</span></p>
<p>The three bedroom, two bathroom apartment is located at <a href="https://www.realestate.com.au/sold/property-unit-qld-rockhampton+city-132219102" target="_blank">901/58 Victoria Parade</a> (pictured below). </p>
<p><span>It features large balcony, stone kitchen and allocated two car basement parking. </span></p>
<p><span><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/2020/3/9/rockhampton%202.jpg" alt=""></span></p>
<p> </p>
<p><span>A current listing is a West Rockhampton three bedroom house priced at $350,000.</span></p>
<p>Located at<a href="https://www.realestate.com.au/property-house-qld-west+rockhampton-132806430" target="_blank"> 52 Pennycruick Street</a> (pictured below), the house comprises 3 bedrooms, open plan living and entertaining patio.</p>
<p><span>Other features include hardwood timber floors, ceiling fans and 3 street frontages. </span></p>
<p><span><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/2020/3/9/west%20rockhampton.jpg" alt=""></span></p>
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Rockhampton property market to recover in 2020: HTW residential 

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<p><span>Given the positive final quarter of 2019, the central Gold Coast area is anticipated to remain fairly buoyant throughout the first half of 2020, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm </span>ask their valuers to give an educated outlook on the residential market in their service areas.</p>
<p><span>The report notes sales activity spiked during September and October 2019 and local agents have reported that good levels of demand continued throughout holiday period for a broad range of property.</span></p>
<p><span>The stable market conditions in the Sydney and Melbourne property markets along with the low interest rate environment and easing of lending policy has given confidence to local buyers, particularly those seeking to purchase property priced in the higher price brackets. </span></p>
<p><span>"Burleigh Heads and Burleigh Waters remain hot spots, however more recently we have noticed good sales activity in the suburbs of Miami and in Sorrento (Bundall)," the valuation firm said. </span></p>
<p><span>A two bedroom beach styled dimples in Miami has recently been sold for $670,000.</span></p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-miami-125810922" target="_blank">2/10 Cantwell Court </a>(pictured below), it comes renovated bath and kitchen, indoor and outdoor living space and backyard. </p>
<p><span>Set on a 372sqm block, the house is only 900m away from Miami beach. </span></p>
<p><span><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/2020/3/9/miami%20.jpg" alt=""></span></p>
<p><span>The report notes it will be interesting to see how property will perform within the Isle of Capri (Surfers Paradise) over the year. </span></p>
<p><span>The Isle of Capri is regarded as one of the preferred residential waterfront areas within the established areas of the central Gold Coast, being within close proximity to the Surfers Paradise CBD. </span></p>
<p><span>A fairly large infrastructure project (road bridge upgrade) has commenced which aims to improve traffic flow through the locality (to and from the CBD area). The expected completion of the project according to local council is mid 2021.</span></p>
<p> </p>
<p><span>In </span>the meantime, residents are likely to be disrupted by the project due to increased traffic congestion caused by the ongoing road works.</p>
<p>"We will wait to see if the project has any significant impact on property sales in this pocket," the valuation firm stated. </p>
<p>A waterfront house in Isle of Capri was sold for $4.5 million in January. </p>
<p>The four bedroom, three bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-qld-isle+of+capri-132828586" target="_blank">25 The Corso </a>(pictured below).</p>
<p>The home comes with indoor and outdoor living space, swimming pool, open plan gourmet kitchen and four car garage.</p>
<p><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/2020/3/9/isle%20of%20capri.jpg" alt=""></p>
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<p><span>The unit market may experience slightly tougher conditions in 2020 compared with 2019, according to the HTW residential report. </span>This market (particularly within Surfers Paradise and Broadbeach) is heavily reliant on investors from interstate and overseas.</p>
<p><span>With a good volume of new unit stock introduced in 2019 and more high density projects due to be completed this year on the central Gold Coast, there is some concern about a potential oversupply in this area. </span></p>
<p><span>"On a more positive note, general feedback from local real estate agencies suggests that demand for rental properties has remained firm and rental values are trending upwards," the valuation firm said. </span></p>
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Central Gold Coast market to remain buoyant in the early 2020: HTW residential 

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<p>Recent research conducted by Knight Frank's partner and head of research, Michelle Ciesielski observes a shift in the narrative from downsizing to rightsizing due to changes in the lifestyle trend towards apartment living.</p>
<h2>Trends to Monitor</h2>
<p>The 'Australian Prime Residential Insight 2020' outlines some of the trends that are expected to influence the rightsizer prime luxury market in the coming years. </p>
<h2>1. 'Active Retired' Transforming the Retiree Lifestyle</h2>
<p><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/2020/2/3/14_Active%20Retired%20Group.jpg" alt=""></p>
<p>Unlike past generations, the 'Active Retired' group hold a passport with many stamps, they are educated, willing to engage in smart technology and encouraged the change in definition for their next home purchase to 'rightsize' rather than 'downsize'. </p>
<h2>2. Baby Boomer Voice Growing </h2>
<p><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/2020/2/3/14_Baby%20Boomers.jpg" alt=""></p>
<p>The baby boomer group comprised 23.5 per cent of the Australian population in 2016, growing from 21.7 per cent five years earlier. </p>
<p>In 2020, the youngest baby boomer turns 56 years old and the oldest turns 74 years old. </p>
<h2>3. Under-Supplied Prime Suburbs</h2>
<p>The portion of three-bedroom and above dwellings due for completion by 2022 is increasing to 71 per cent in medium density, and to 18 per cent for high-density dwellings. </p>
<p>The next trend to watch is the total number of dwellings being completed with 47 per cent less medium-density dwellings due between 2020 and 22, compared to 2017 and 2019, and 30 per cent less being built as high-density dwellings. </p>
<h2>4. Collaborate, Community, Belonging </h2>
<p><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/2020/2/3/14_Collaborate.jpg" alt=""></p>
<p>More emphasis on creating agile collaborative zones within the amenities to ensure they carry significance to the residents and can be adapted for alternate uses at other times of the day. </p>
<h2>5. Clever Spaces</h2>
<p><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/2020/2/3/14_Crown%20Residences%202.jpg" alt=""></p>
<p>Source: <span>Crown Residences at </span><span><a href="https://onebarangaroo.com.au" target="_blank"><span>One Barangaroo</span></a></span></p>
<p>Drawing inspiration from the most exclusive hotels and residences from around the world will continue to nurture the redesign of luxury apartments and allow residents to be more agile and minimise ineffective space. </p>
<h2>6. Rise in Lateral Living </h2>
<p><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/2020/2/3/14_Lateral%20Spaces.jpg" alt=""></p>
<p>Source: Liverpool/ <a href="https://www.lateralestate.com/libertytower" target="_blank">Lateral Estate</a>.</p>
<p>Buyers are prepared to pay a premium for a lateral apartment, designed to span the entire floorplate offering the closest replica of a freestanding house in the sky, although with absolute privacy. </p>
<p>It can enable the most resilient security, with direct lift access, from the secured basement carpark, to the single-leveled residence. </p>
<h2>7. More Branded Residences</h2>
<p>With rapid expansion of over 400<a href="https://content.knightfrank.com/research/1617/documents/en/global-branded-residences-2019-5874.pdf" target="_blank"> branded residences</a> globally, a growing number of developers and hotel groups are looking to capitalise on this opportunity in Australia.</p>
<p><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/2020/2/3/14_branded%20residence.jpg" alt=""></p>
<p>Source: Branded Residence Report 2019/ <a href="https://content.knightfrank.com/research/1617/documents/en/global-branded-residences-2019-5874.pdf" target="_blank">Knight Frank.</a></p>
<p>A branded residence is traditionally a hotel-led development with integrated or linked residences. For instance, <a href="https://iconprivateresidences.com/category/luxury-developments/four-seasons" target="_blank">Four Seasons</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/aman" target="_blank">Aman</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/ritz-carlton" target="_blank">Ritz-Carlton</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/mandarin-oriental" target="_blank">Mandarin Oriental</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/oneonly" target="_blank">One&amp;Only Resorts</a><span>, </span><a href="https://iconprivateresidences.com/category/luxury-developments/rosewood" target="_blank">Rosewood</a><span> and </span><a href="https://iconprivateresidences.com/category/luxury-developments/six-senses" target="_blank">Six Senses</a><span> are among the most active in the segment, others have aligned with luxury brands as diverse as Versace, Porsche and Armani.</span></p>
<p>They naturally benefit from the quality hotel brand, smooth management and luxury services. </p>
<h2>8. A Small World</h2>
<p><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/2020/2/3/14_Small%20World%20Qantas.jpg" alt=""></p>
<p>Source: 'Qantas flew non-stop from London to Sydney in less than 20 hours'/ <a href="https://www.qantas.com/travelinsider/en/trending/london-sydney-non-stop-long-haul-qantas-flight-project-sunrise" target="_blank">Qantas</a>.</p>
<p>Qantas tested its new 19-hour nonstop flight from London to Sydney in late 2019. This may be operational by 2022. </p>
<p>Improved connectivity has potential to reshape the second home market. This could result in an increased competition with offshore buyers, and encourage rebalancing property portfolios with Australians likely to buy more second homes abroad. </p>
<h2>9. Reducing space and footprint</h2>
<p><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/3_StockBreakouts/house-in-hands-july-31-brekaout.jpg" alt=""></p>
<p>More buyers and developers are becoming increasingly aware of the carbon footprint they leave behind for future generations. </p>
<p>This was revealed in the recent research conducted by Stockland Research. It was predicted that Australians have <span>a strong desire for more social connectivity and sustainable home features becoming standard.</span></p>
<p>Read more: <a href="/news/how-will-australians-live-over-the-next-decade-stockland-research">'How will Australians live over the next decade, Stockland Research'</a></p>
<p>They are committing to better sustainability practices and design for apartment living. </p>
<p> </p>
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Rightsizer prime luxury market trends to lookout for: Knight Frank

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<p><span>Recent s</span><span>tudies indicate that one in five Australians currently live in a multi-generational household.</span></p>
<p><span>Research also show that the trend is on the rise. While this was once the norm in many households, where the young help care for the older generation, the custom of multi-generational homes experienced a downturn in past decades.</span></p>
<p><span>There’s a strong trend towards multi-generational living, particularly in Sydney and its surrounds, where property prices continue to rise. And it’s happening in a couple of different ways with young people staying home longer, older generations sharing, and people looking for affordable investment opportunities.</span></p>
<p><span><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/2020/2/3/15_Multigenerational.jpg" alt=""></span></p>
<p>Dr Edgar Liu from UNSW’s City Futures Research Centre and author of '<a href="https://cityfutures.be.unsw.edu.au/research/projects/living-together-the-rise-of-multigenerational-households-in-australian-cities/" target="_blank">Living Together: The rise of multigenerational households in Australian cities</a>'<em>, </em>says research has found that more than half of people living in this arrangement do so due to financial reasons, while others do it for companionship.</p>
<p><span>Social contact is known to have positive benefits for both physical and mental health. Social interaction with others builds valuable relationships and gives us a deeper sense of belonging.</span></p>
<p><span>Leading home builder ANSA Homes has noted this trend and now offers a number of designs that</span><span> can be configured to be two homes under one roof, and even three homes under one roof.</span></p>
<p><span>ANSA Homes </span><span>Founder and Managing Director, Mark Maloney says “</span><span>there can be negatives if the actual dwelling isn’t suitable for multi-generational living like lack of privacy, noise transference, clashing of schedules in kitchens and bathrooms, lack of space and lack of independence.</span></p>
<p><span>“And while it would be great to able to build a separate granny flat in the backyard there often isn’t space for this option. We’re seeing a growing demand for new home designs that can accommodate several generations in their own private areas.</span></p>
<p><span>“We work closely with all our clients to understand the needs of the family and design a solution that suits the individual family. We believe it’s really important to understand that you don’t have to live in each other's pockets and the home can be independent.</span></p>
<p><span>“This trend also goes hand-in-hand with the trend towards knocking down an existing home and rebuilding. It </span><span>means you get to stay in the same neighbourhood but build a brand new home to suit the needs of all family members,” added Maloney.</span></p>
<p><span>Established suburbs often have larger blocks of land than the new outer suburbs making them ideal to build a large home that will accommodation several generations under one roof. And by pooling the family’s housing costs it becomes a very affordable option.</span></p>
<p><span>ANSA Homes has 14 multi-generational living designs that can be adapted to your needs with a house and granny flat in one.</span></p>
<p>An example of a multi-generational home is <a href="https://ansahomes.com.au/home-designs/house-and-granny-flat/lellah-39/" target="_blank">Lellah 39</a> where there is a total of six-bedrooms including a self-contained studio.</p>
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One in five Australians live in multi-generational households

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<p>A Nunawading warehouse office was sold by CVA's Jarrod Moran and Stan Dawidowski on February 26, 2020.</p>
<p>Located just off Whitehorse Road’s ‘Golden Mile’, the <a href="https://www.realestate.com.au/property/42-metropolitan-ave-nunawading-vic-3131" target="_blank">Metropolitan Avenue propert</a>y sold for $980,000 which far exceeded vendor expectations.</p>
<p>The four-week campaign attracted more than 65 enquiries with over 40 auction attendees and 7 bidders battling it out for this rare street fronting industrial facility.</p>
<p><span>The subject property comprises 283 sqm total floor area inclusive of 183 sqm high clearance warehouse with motorised roller door access, 100 sqm two level open plan air-conditioned office plus four allocated on site car spaces.</span></p>
<p><span>The warehouse last sold in 2016 for $750,000. </span></p>
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Warehouse office sold under the hammer in 'Golden Mile' precinct

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<p>A joint initiative of the Property Investment Professionals of Australia (PIPA) and CoreLogic has revealed the best performing locations for average annual capital growth in every city over the past decade.</p>
<p><span>The CoreLogic research found the city location with the highest annual capital growth in the nation over the past decade was Lakemba in the Canterbury region of Sydney, where house prices have increased by 8.4 per cent annually. Its median house value has more than doubled over the period to now be about $881,000.</span></p>
<p><span>The second place-getter was also in Sydney, this time in the Oatlands-Dundas Valley region of Carlingford, where house values grew by an average 8.1 per cent each year over the past decade. Its median house value has soared from $662,000 to $1.41 million over the past decade, according to the data.</span></p>
<p><span>Rounding out the top three, on 7.9 per cent annual average growth over 10 years, was Rockbank-</span><span>Mount Cottrell in Melbourne’s west </span><span>where its median house value has increased to nearly $600,000.</span></p>
<p><span>PIPA chairman Peter Koulizos said the national results showed a mix of affordable and prestige suburbs had performed well over the period.</span></p>
<p><span>However, the research also showed that locations within markets that were deemed subdued continued to record robust house value growth, he said.</span></p>
<p><span>“Even though Adelaide only recorded average annual growth of 1.3 per cent </span><span>over the past decade, its top performing location of Prospect saw prices increase by 3.4 per year </span><span>over the period,” Mr Koulizos said.</span></p>
<p><span>“L</span><span>ikewise, in Darwin, where prices reduced on average 1.9 per cent annually, in Rosebery-Bellamack median house values increased by 3.2 per cent at the same time.</span></p>
<p><span>“</span><span>This is actually quite common, because there are submarkets within markets which operate to the beat of their own drums, usually because of consistently strong demand from buyers keen to live or invest </span><span>in those locations.”</span></p>
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<p><span>The CoreLogic research also found that Sydney recorded the highest average annual capital growth over the decade at 5.5 per cent, followed by Melbourne on 4.9 per cent and Hobart on 3.4 per cent.</span></p>
</div>
</div>
<table>
<colgroup>
<col>
<col>
<col>
</colgroup>
<tbody>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>City location</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>State</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Average annual 10-year growth</span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Greater Sydney</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>NSW</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>5.5%</span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Greater Melbourne</span></p>
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/0bc4b37d-2c82-49a7-9547-f42d67b0cec7" alt="page2image7120560" width="34.680000" height="0.480010"><div class="layoutArea">
<div class="column">
<p><span>VIC</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>4.9%</span></p>
</div>
</div>
</td>
</tr>
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<div class="layoutArea">
<div class="column">
<p><span>Greater Brisbane</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>QLD</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>1.3%</span></p>
</div>
</div>
</td>
</tr>
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<div class="layoutArea">
<div class="column">
<p><span>Greater Adelaide</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>SA</span></p>
</div>
</div>
<img src="blob:https://www.urban.com.au/b4ef0a80-cbca-4dce-b872-3d581956a50b" alt="page2image7118320" width="34.680000" height="0.480010">
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>1.5%</span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Greater Perth</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>WA</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>-1.4%</span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Greater Hobart</span></p>
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/02c28a48-d80d-4008-8255-fd93ccc24120" alt="page2image7118544" width="34.680000" height="0.480010"><div class="layoutArea">
<div class="column">
<p><span>TAS</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>3.4%</span></p>
</div>
</div>
</td>
</tr>
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<td>
<div class="layoutArea">
<div class="column">
<p><span>Greater Darwin</span></p>
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/8de548a5-d64c-49b4-91f8-8ae9d20c2c7b" alt="page2image7130080" width="34.680000" height="0.480010"><div class="layoutArea">
<div class="column">
<p><span>NT</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>-1.9%</span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Australian Capital Territory</span></p>
</div>
</div>
</td>
<td>
<img src="blob:https://www.urban.com.au/6142c85e-8244-4a52-b03a-a2ed6e76ec25" alt="page2image7127392" width="34.680000" height="0.480010"><div class="layoutArea">
<div class="column">
<p><span>ACT</span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>2.8%</span></p>
</div>
</div>
</td>
</tr>
</tbody>
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<div class="layoutArea">
<div class="column">
<p><span>Source: Corelogic.com.au</span></p>
<p><span>“The other capital cities recorded less than stellar average housing value growth </span><span>rates over the past decade,</span><span>” Mr Koulizos said.</span></p>
<p><span>“Annual growth of between 1.3 per cent to 2.8 per cent over the past decade </span><span>is part of the reason why so many investors and property investment experts are eyeing Brisbane, Adelaide and Canberra as potentially having the best capital growth prospects over the next 10-year period.</span><span>”</span></p>
<p><span>Darwin and Perth recorded negative annual growth over the period at -1.9 per cent and -1.4 per cent respectively, according to the research.</span></p>
<p><span>“</span><span>Investing in the housing market is typically a long-term strategy. Short-term movements are less important than the longer-term trends, which typically see housing values moving through a cycle where values will rise, fall and track sideways,</span><span>” </span><span>CoreLogic Head of Research Tim Lawless said.</span></p>
<p><span>“</span><span>The past 10 years has seen areas of Sydney and Melbourne outperform most other markets thanks to strong economic conditions and high rates of migration, which has fuelled housing demand, however, such high rates of capital gain have eroded housing affordability and compressed rental yields.</span><span>”</span></p>
<p><span>Mr Lawless said investors were likely to find that over the next 10 years the best performing markets are quite different.</span></p>
<p><span>“</span><span>Just as they were over the earlier decade where, for example, mining regions and regional coastal markets where some of the strongest performing areas,</span><span>” </span><span>he said.</span></p>
<p><span><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/2020/3/4/CoreLogic.jpg" alt=""><br></span></p>
<p><em>Source: CoreLogic.com.au </em></p>
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Best performing suburbs over the past decade: PIPA & CoreLogic

<p>Repeat buyers are one of the strongest measures of confidence in any apartment development.</p>

<p>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.</p>

<p>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.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe></p>

<p>"I had some boxes I wanted to tick," he says.</p>

<p>Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.</p>

<p>“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.</p>

<p>He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356818]</p>

<p>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.</p>

<p>"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."</p>

<p>Today, Keith says the move has completely changed how he experiences Newcastle.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356828]</p>

<p>Beyond the location, he says it's the sense of community that has surprised him most.</p>

<p>"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."</p>

<p>For Aimee and Lyle Goodman, the journey started almost by chance.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe></p>

<p>The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.</p>

<p>"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."</p>

<p>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.</p>

<p>"We actually catch up more as a family now," Aimee says.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356829]</p>

<p>Lyle says their confidence came from GWH's reputation within Newcastle's building industry.</p>

<p>"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."</p>

<p>That confidence only grew throughout the buying process.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=351104]</p>

<p>Aimee says one moment stood out.</p>

<p>"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."</p>

<p>The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356822]</p>

<p>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;</p>

<p>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;</p>

<p>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.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356826]</p>

<p>For Keith, the appeal remains straightforward.</p>

<p>"You feel at home even before you've moved into your home."</p>

<p>For Aimee, the change is measured in time.</p>

<p>“I just felt like I had more time,” she says.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=351102]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=135096]</p>


Joel Robinson

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

<p>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.</p>

<p>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.</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=4661 project_image_fid=372549]</p>

<p>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.</p>

<p>"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.</p>

<p>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."</p>

<p>[smartcode_project:default project_id=4661 project_image_fid=314259]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=4661 project_image_fid=372550]</p>

<p>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.</p>

<p>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.</p>

<p>The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.</p>

<p>"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."</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=4661]</p>


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

<p>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.</p>

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=102717 project_image_fid=355297]</p>

<p>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.</p>

<p>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.</p>

<p>"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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=102717 project_image_fid=355293]</p>

<p>The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.</p>

<p>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.</p>

<p>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;</p>

<p>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;</p>

<p>[smartcode_project:default project_id=102717 project_image_fid=355303]</p>

<p>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.</p>

<p>"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=102717 project_image_fid=355304]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=102717]</p>


Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=372394]</p>

<p>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.</p>

<p>"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.</p>

<p>"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=953]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=925]</p>

<p>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.</p>

<p>Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.</p>

<p>"The Lennox is where aspirational living becomes attainable," Hamblett said.</p>

<p>"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."</p>

<p>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.</p>

<p>"At The Lennox, lifestyle is not an afterthought, it is the foundation."</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=5374]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>"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."</p>

<p>[smartcode_project_cta:default project_id=5743]</p>


The apartment price gap drawing Sydney buyers west

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.</p>

<p>Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.</p>

<p>"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.</p>

<p>"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."</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.</p>

<p>"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.</p>

<p>"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."</p>

<p>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.</p>

<p>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>.</p>


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