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Most local Queensland investors are not driven directly by yield on the Gold Coast, according to the latest Herron Todd White (HTW) residential report. 
No doubt their investment decisions will involve an assessment of property price versus income less outgoings but largely indications are that they are more inclined to be driven by decisions of location and amenity, the valuation firm said. Interstate buyers have a quite different approach.
The valuation firm took a look at the rental yields across the country. 
"Local real estate agents report that the magic gross yield rate currently sought by interstate investors is 6%. Generally speaking, agents will not get any marketing traction on properties when this minimum yield cannot be demonstrated," the valuation firm said. 
The report suggests the lower end of the local market (say $170,000 to $350,000 price range) in the suburbs of Labrador, Southport and Biggera Waters is currently quite weak with sales volumes down and values falling 5% to 15%.
Local property managers are reporting higher vacancy rates and in some cases a drop in rent is required to secure new rental agreements.
"We also note that local property managers are reporting that there has been a surge of tenants who are exiting their rental agreements in order to buy their own properties in response to the very low mortgage rates now on offer," the valuation firm added. 
A circa 1990, two-bedroom, one-bathroom conventional strata unit, situated on level two of a three-level, nine-unit walk up complex on a concrete footings and slab, floating concrete slab foundation with brick walls, tile roof and one car garage.
The property at <a href="https://www.realestate.com.au/sold/property-unit-qld-labrador-131600502" target="_blank">5/145 Muir Street, Labrador</a> has fair external condition, fair internal condition and fair presentation. Areas: Living - 89 square metres, Outdoor - 10 square metres and car - 27 square metres.
<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/2019/10/16/labrator%202.jpg" alt="">
The subject property has a north-westerly aspect with no significant views.
Ancillary improvements include concrete driveway, partially enclosed yard, concrete paths and moderate landscaping.
The estimated rent is $290 per week and gross yield 5.97%.
"The family home market (say $550,000 to $950,000 price range) has been the strongest performer, albeit this is a very stable market segment with steady demand and turnover in most locations. This market is not typically driven by yield," the valuation firm continued. 
The report notes an interesting strategy has been for some investors to convert family style homes into student style accommodation.
A typical four-bedroom, two- bathroom dwelling will be modified to become seven or eight bedrooms. The laundry may be converted to a third bathroom and the garage partitioned to form say, two bedrooms. The kitchen and main living area is utilised as common area.
Rentals on these are reported at circa $150 per bedroom. A $625,000 outlay for a property may return as much as $50,000 gross per annum (allowing for vacancy) reflecting a gross yield of 8%.
"We caution that many of these operations may not strictly be council approved and lending policy will value or assess these properties on typical residential use only. The suburbs of Southport and Parkwood are popular for this practice," the valuation firm said. 
A Parkwood dwelling converted from four bedrooms to an eight-bedroom, two-bathroom floor plan is currently rented as student accommodation.
"The higher end or prestige market is not driven by yield rates. Rental rates typically fall considerably at this end of the market," the valuation firm said. 
A two level, circa 2016, modern style, rendered fibrous cement sheeting, four-bedroom, two- bathroom, dwelling, with colorbond roof and two-car garage.
Dwelling is located on an easy sloping, regular shaped, inside lot situated slightly above road level.
Canal views with western frontage to the canal.
Ancillary improvements include: exposed aggregate driveway; partially enclosed yard of rendered brick construction; aluminium pedestrian gate with manual access; concrete and paved paths; established landscaping; concrete in ground pool, featuring frameless glass pool fencing; and pontoon jetty.
The property has good external condition and good internal condition.
With a land area of 570 square metres, the rent is $1,200 per week and gross yield is 3.67%
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j.ballantyne1990-6AQqhLzZaK

North Central Gold Coast local investors driven by location and amenity: HTW residential 

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For those chasing income rather than growth, Tamworth offers a range of options all with attractive returns, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
"Whether it be single residential or a unit block, there is something for all investors. Tamworth sees all types of investors and no particular strategy (growth versus yield) dominates," the valuation firm said. 
"To begin with, let’s take a look at single residential investments. The average return throughout Tamworth sits around the 5% mark (say 4.5% to 6%) for most single residential dwellings.
"Now, while this is certainly a better yield than that found in the larger cities, it is still not amazing. The area we find attracts yield investors is that of West Tamworth, in particular Coledale." 
This area has a lot of housing commission and is not a desirable location for owner occupiers, however with sub-$200,000 buy in and returns north of 8%, it is certainly attractive for investors.
A recent sale of <a href="https://www.realestate.com.au/sold/property-house-nsw-tamworth-131112554" target="_blank">47 Cossa Street</a> (pictured below) at $130,000 showed a gross return of 9.6% with a tenant in place at $240 per week.
<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/2019/10/16/tamworth%201.jpg" alt="">
"If single residential or properties in undesirable locations isn’t your cup of tea and you prefer multiple-occupancy properties than do not stress, Tamworth has that covered as well," the valuation firm added. 
Duplexes and triplexes typically see gross returns of 6% to 8% depending on the location, with those in the more desirable areas of East and North Tamworth falling towards the lower end.
The report suggests the benefit of a multiple occupancy property is less risk with less chance of all units being empty as well as higher capital growth than the properties mentioned previously.
<a href="https://www.realestate.com.au/sold/property-duplex+semi-detached-nsw-tamworth-129465162" target="_blank">22 Charles Coxen Close, Oxley Vale</a> (pictured below), recently sold for $429,000 with an assessed weekly return of $560 or an annual gross return of 6.8%.
<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/2019/10/16/tamworth%202.jpg" alt="">
"For the last style of investment property we check out unit blocks (four or more units on one title)," the valuation firm added. 
While these properties are bought and sold less frequently, they certainly have a place within the market.
The returns for unit blocks are not dissimilar to those of duplexes or triplexes, with investors expecting 6% plus returns.
<a href="https://www.realestate.com.au/sold/property-apartment-nsw-tamworth-129881678" target="_blank">100-102 Belmore Street, West Tamworth</a> (pictured below) which consists of a four unit building and a separate three-bedroom dwelling sold for $1.090 million earlier this year.
"With a gross return of $68,120 or 6.2% and the potential to subdivide or build more units, this was an attractive buy for any investor with the cash," the valuation firm commented. 
<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/2019/10/16/tamworth%203.jpg" alt="">
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What type of properties offer the highest rental yields in Tamworth? HTW residential 

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Australia’s largest co-living company is opening its biggest property to date in Sydney’s inner suburb of St Peters.
The 82 room building, Hmlet St Peters will open in November 2019.
Since their January 2019 laucnh, Hmlet has sucessfully opened eight properties in Sydney, including locations in Newtown, Marrickville, Petersham and Alexandria.
Located on the corner of 8 Hutchinson St and 29 Applebee St, St Peters, it is situated next to St Peters train station and within 12-minute commute to the city.
The four-storey building, a converte warehouse features original brick walls alongside minimalistic interiors and oversized balconies.
Hmlet members have access to an outdoor space where they can view a pop-up outdoor cinema, surrounded by a fruit and herb garden.
With 82 rooms to choose from across 38 brand new units, members have the option of five different room types starting from $370 per week, inclusive of bills and community events. There is a minimum stay of 3 months.
All units are serviced and furnished.
Founded in Singapore in 2016, Hmlet recently raised $55 million in a Series B round in July 2019 to accelerate growth across Asia-Pacific. The round was led by Burda Principal Investments, with participation from existing investor Sequoia India and new investors Mitsubishi Estate Co, Reinventure Group, and angel investors. 
Co-living is an emerging trend and Hmlet has plans to expand in Melbourne and Brisbane.
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Hmlet opening it's biggest co-living property in Sydney

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Three tenants have signed new long term leases totalling more than $1 million in rents on nearly 2000 square metres of showroom space in Church Street, Richmond.
The deals, which have exhausted vacancy on the strip, were struck at undisclosed rents and include furniture stores, Plush and BoConcept, and rugs dealer, Jenny Jones.
Teska Carson’s Jack Kelliher, who brokered the deals with Michael Taylor, Michael Ludski and Fergus Evans, said demand was always strong on Church Street.
"This is a market which seemingly operates in a virtual economic vacuum unaffected it would seem by the headwinds impacting the retail market generally. That is not to say that these business are necessarily making as handsome a profit as they might have done in better times but that they are acutely aware of the value of location in an extremely competitive market,’’ Mr Kelliher said.
Mr Kelliher said the fact that the three quality tenants agreed to strong per square metre rents for the strip, and at incentives well under the 15 per cent average, underlined the strength of demand and the lack of stock. Average rents on the strip are generally over $550 a square metre.
``Church Street is always strong in the showroom market, in fact it is arguably Melbourne’s best inner-city showroom strip and that is exemplified by the fact that there is absolutely nothing available at the moment and plenty of enquiry for any opportunity that comes to market,’’ Mr Kelliher said.
The leases include:
1. Plush - 658 Church Street (pictured in title) - 902 square metres 2. Jenny Jones - 620 Church Street (pictured below) - 560 square metres 3. BoConcept - 527-531 Church Street - 472 square metres
<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/2019/10/22/Church%20st.jpg" alt="">
Mr Taylor said the availability of parking, wide street frontages, and exposure to a very popular furniture precinct had been significant considerations for all tenants.
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Latest three leases leave Church Street strip completely occupied

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A masterplanned seaside development in Bundaberg has put the call out for large home building companies around the country.
An application has been lodged with the Bundaberg Regional Council for the reconfiguring of the first 170 lots in the $2 billion Southbeach at Elliot Heads project, a 246 hectare estate which will include 3,200 homes.
The project is a joint development between Sydney-based Stan La Vin and local Manera family who have consolidated 31 farming land titles adjoining the township and estuary over 47 years.
Development has been in the pipeline since May 2007 with approval granted in August 2013.
It has already received 1,400 registrations of interest for house and land packages over the past 10 months including over a third of these from NSW and Victoria.
Mr La Vin said the development would require several large scale home building companies to realise its 10 year development timeline.
“Timing is everything and when we first received approval in 2013 we were adversely affected by the mining crash so decided to slow things down,” Mr La Vin said.
“We’ve been running an early-bird buyer campaign to gauge interest and have been overwhelmed by the response, so now we need to start building.”
The development, which is 20 minutes’ drive south of Bundaberg and a gateway to The Great Barrier Reef Marine Park, will include a shopping centre, bistro, healthcare services and schools.
It will also open up the 20 kilometre coastal strip from Elliott Heads to the established resort precincts of Coral Cove, Bargara and the international port township of Burnett Heads where a 273-berth marina is to be built by French constructor Poralu Marine with adjoining luxury resort and residential development planned.
Southbeach has been masterplanned by renowned Canadian-Japanese architect Brian Toyota.
Engineering, infrastructure and environmental services has been provided by consultancy firm Cardno.
House and land packages start from $395,000 with land sizes up to 700 sqm and a ‘nothing taller than a palm tree’ edict to preserve the visual appeal of Elliott Heads.
Sales are expected to begin soon with construction of the first homes anticipated to commence in the first half of 2020.
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Masterplanned Elliots Head seaside development seeking home construction companies

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The Canberra industrial market has continued to witness stabilisation and level growth, according to the latest report from valuation firm Herron Todd White.
Local commercial agents are reporting increased activity on the back of a stable residential market, improved consumer confidence and a less restrictive lending environment.
HTW focused on the ACT Government’s Four Year Indicative Industrial Land Release Program, which is based on the current level of demand for industrial land.
The program is intended to achieve a number of objectives, but in essence it is to increase the ACT Government’s responsiveness to market changes by developing an inventory of land stock, where serviced industrial sites are available for immediate release.
Land will be available across new estates in Symonston (2020-2021), Fyshwick and Majura Valley (Pialigo, 2021-2022) as well as Hume. 
The program aims to release 110,000 square metres over the next four years.
The report authors said, "owner-occupiers and private investors are active while there is also increased demand for higher valued assets as demonstrated by the February 2019 (settled) sale of 2 Paspaley Street, Hume through Burgess Rawson for $10.3 million including GST (ten year lease until 2027 plus options to 2042); reflecting rates of $2,537 per square metre of lettable area and $810 per square metre of improved land area."
"Typical analysed market yields are between six and seven per cent and lower for sub $1.5 million properties in industrial precincts."
"Queanbeyan continues to provide a desirable alternative for industrial owner-occupiers with municipal rates continuing to increase in the ACT, discouraging activity," they concluded.
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Canberra industrial market continues seeing stable growth: HTW

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The 1900's era trophy home Quamby in Hawthorn's exclusive Grace Park Estate has sold at auction.
Last sold for $410,000 in 1994, the house has/had been offered for sale on and off since 2017 seeking around $4.5 million - $5 million.
It was unsuccessful at auction in 2017 but this time around with a price guide of $4.2 million - $4.5 million the resdence sold for $4,545,000
Situated at <a href="https://www.realestate.com.au/property-house-vic-hawthorn-132036874" target="_blank">58 Mary Street</a>, the four bedroom three bathroom home sits on a 780 sqm block.
<img src="https://www.urban.com.au/images/2019/10/18/Hawthorn%20Trophy%202.JPG" alt="">
The listing describes the home as "reminiscent of a French country homestead."
A tessellated return veranda envelopes the home, overlooking gardens and a salt-water pool.
Scott Patterso and Sam Wilkinson of Kay &amp; Burton marketed the home in this latest auction campaign.
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Hawthorn's circa 1900's Quamby sold at auction

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A parkside Camberwell trophy home has been passed in at auction.
The five bedroom, three bathroom house went under the hammer with a price guide of $4,200,000 - $4,600,000.
Helen Yan and Sandra Sutikno are marketing the property at <a href="https://www.realestate.com.au/property-house-vic-camberwell-131929342" target="_blank">4 Ruyton Street</a>.
<img src="https://www.urban.com.au/images/2019/10/18/Camberwell%20trophy%201.JPG" alt="">
Set on a large 1,512 sqm block, the home features both a pool/spa and a floodlit tennis court.
Tmber parquetry and white porcelain tiles glisten underfoot, plus the residence contains a gas log fire and a gourmet granite kitchen with Miele appliances.
It is located within close proximity to schools, public transport options and other amenities.
The 1993 built home last sold for $4,250,000 in 2017 and it was offered as a rental for an undisclosed price earlier this year.
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Parkside Camberwell trophy home passed in at auction

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A Georgian style brick residence in South Yarra sold for $6,300,000, at an auction on the 19th of October.
Set on a 528 square metre block at 104 Caroline Street, the two story abode is described in the listing as an "exceedingly rare opportunity."
It features three bedrooms, and two bathrooms.
<img src="https://www.urban.com.au/images/2019/10/18/South%20Yarra%20Trophy%20Home%202.JPG" alt="" style="font-family: tahoma, arial, helvetica, sans-serif; font-size: small;">
The South Yarra Hill corner allotment is located moments from the Yarra River, the Domain Precinct, Botanic Gardens, Toorak Rd's boutiques and restaurants and elite schools.
Retaining original charm, the entrance hall leads through to a formal sitting and living room with open fire and a sunny study opening to the deep private northeast facing garden.
The circa 1926 home far exceeded expectations - A price guide of $5- $5.5 million was given in the statement of information.
James Tomlinson and Rae Tomlinson, from Marshall White Stonnington, listed the sale.
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Georgian style South Yarra trophy home successfully sold at auction

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More than half of all recent off-the-plan (OTP) apartments in Sydney and Melbourne have been settling with a valuation below their contract price, according to the latest findings from CoreLogic.
Their data shows that 60% of OTP apartments in Sydney, and 52.9% in Melbourne are now worth less their their original contract price, based on August settlements.
In 2017 less than 16% of newly constructed NSW units were valued below contract price after they were completed.
CoreLogic's head of research, Tim Lawless, told the ABC when many of these newly completed apartments were originally sold off the plan back in 2016 and 2017, the market was very different.
"We were seeing values rising at about 15% to 20% per annum in Sydney and Melbourne," Mr Lawless said.
"Now cast your mind forward to 2019 and we've seen prices come down in Sydney by 15%. In Melbourne, they're down by about 11%.
"A lot of those off-the-plan buyers have seen a very fundamental shift in the value of the project that they purchased a couple of years ago," he added.
Mr Lawless also brought up the issue of oversupply, as well as concerns around construction quality, remediation costs and flammable cladding.
"That [is] probably also weighing on the minds of people in the marketplace and potentially affecting the resale value of those properties as well," he concluded.
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Majority of OTP apartment on settlement in Sydney and Melbourne worth less than purchase price

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.

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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.

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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;

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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."

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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.

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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.

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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."

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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.

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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."

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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."

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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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