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In the recent property market dip, Millers Point all but avoided the fate of the rest of the NSW market, but how has the story changed following the recent recovery surge.
For the latest data read on.
With bumpy history of overall growth, its vital to keep up to date with the latest going's on in Millers Point.
In the last five years some were caught off guard as two hefty price drops were seen in 2015 and 2017 (pictured below), not to mention the latest market movement.
However apartment prices have bounced back in the <a href="/developments/millers-point-nsw-2000">latest data</a>, climbing up from a the latest low of $1.69 million.
<img src="https://www.urban.com.au/images/2019/9/16/Millers%20Point%20Template%201.JPG" alt="">
As of September 2019 the median apartment price in Millers Point is $1.85 million.
To learn all you need to know about Millers Point, from median asking rents to household composition, <a href="/developments/millers-point-nsw-2000">click here</a>. 
As a landlord it is important to check the asking rent trend regularly to ensure you are getting the most value out of your investment.
According to Microburbs, Millers Point is an 8/10, known for it's convenience.
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j.ballantyne1990-6AQqhLzZaK

Is property profitable in Millers Point? The latest market news

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Australia's biggest property markets are experiencing a recovery surge, but some areas such as Toorak has already bolted, according to the latest property data.
As a buyer, it's vital to keep up to date with the latest going's on in Toorak. 
The suburb's latest median house price sits at $3 million, about $2 million less compared to its peak price within the last 10 years. 
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The latest median unit price sits at $845,000 (pictured below). 
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To learn all you need to know about Toorak, from median asking rents to average hold period, <a href="/developments/toorak-vic-3142">click here</a>. 
It is important for buyers to check the median price regularly to ensure you are not missing the best opportunity of buying a new home.
According to Microburbs, Toorak is an 8/10, with 9/10 in its convenience score and family score.  
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What buyers should know about Toorak's latest median house price

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Six markets including Melbourne, Coffs Harbour and Dubbo have all reached the peak of the market, according to valuation firm Herron Todd White latest report.
In their September National Property Clock for the office market, Herron Todd White also found office markets in Illawarra, Ballina/Byron Bay and South East NSW had began to peak.
The Sunshine Coast is the only office market that has been at the peak for over a month.
Newcastle joined Geelong and Sydney in the approaching the peak of the market.
Three capital cities remained in a bottom of the market position, Darwin, Perth and Hobart.
They are joined by Cairns, Launceston, Mackay, Rockhampton and Townsville.
"The commercial sector has traditionally offered investors a way to boost yield in their portfolios, but as you’ll see in our report, there are some surprises," the HTW report noted.
"Quite a few of our major centres are seeing strong buyer demand for office space and this has translated into tight yields."
"Other localities are experiencing a struggle, which can spell opportunity for investors keen to purchase at the bottom of the cycle," they concluded.
Click <a href="https://www.propertyobserver.com.au/images/2019/9/16/HTW%20Office%20Clock%20Septemer%202019.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/9/16/HTW%20Office%20Clock%20Septemer%202019.JPG" alt="">
Ballarat held steady as a rising market while Brisbane, Ipswich, Canberra/Q'berra and the Central coast have started their office market recovery.
They have joined Adelaide, Emerald, Toowoomba and Mildura in the start of a market recovery.
The Gold Coast, Mid North Coast and Lismore are still starting to decline.
Echuca and Alice Springs have remained unmoved in the declining market position, while South West WA remains near the bottom of the market.
The Gladstone office market joined them at the approaching bottom of market position on the clock.
 
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Melbourne among six office property markets to peak: HTW September Office Clock

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Domayne furniture Hire and Property Styling has snapped up a 7 year lease of an office and warehouse in Brisbane’s northern suburb of Northgate
Situated at 16&amp;17/62 Crockford Street, the asset that came with a 2,398 sqm building area and a 4,000 sqm site area, was signed up for an initial seven year leasing term with an additional three year option.
The agents declined to comment on the rental, however industry sources say it was between $135-$155 per sqm.
The property was marketed and leased by Ray White Commercial Queensland Senior Sales and Leasing Executives Aaron Aleckson and Andrew Doyle and Director – Brokerage Services Paul Anderson, with CBRE as co-listing agents.
Director of Domayne furniture Hire and Property Styling, Melinda Littman said, “moving into the new Crockford Street Northgate location in early 2020, the 2,382 sqm single building over two titles hopes to support the business expand further over the next seven years.”
Mr Doyle said it was pleasing to see another quality tenant move into the estate at 62 Crockford Street. “The draw card for this estate really has been the medical precinct and restaurant at the entrance to the site,” he said. “Domayne now joins a quality list of tenants to the estate such as Thyssenkrupp, Bayer Pharmaceuticals and Bevis and Bartels.” Mr Anderson said they had seen a spike in enquiry on the speculatively built warehouses in the North Gateway Precinct with a number of tenants still actively looking. “It offers many benefits associated with being right on the Gateway Motorway, with easy access to the Brisbane Airport, CBD and Airport Link tunnel.”
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Domayne Furniture Hire take up seven year Northgate office warehouse lease

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A South Fremantle mortgagee home has sold for $316,000.
The property sold for a $239,000 loss marking a 43% reduction in the value of the apartment.
Richard Stacey of Peak Central marketed the property.
Situated at <a href="https://www.realestate.com.au/sold/property-apartment-wa-south+fremantle-131227930" target="_blank">11/40 South Beach Promenade</a>, the abode comprises a one bedroom one bathroom apartment.
Set on 108 sqm, the contemporary ground floor unit is position in The Summer complex developed by Match.
Located minutes from the beach, cafes and other amenities, it is positioned in close proximity to the Fremantle CBD.
The unit last sold for $555,000 in 2009.
<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>
The median sale price for a home in <a href="/developments/south-fremantle-wa-6162">South Fremantle</a> is $1.045 million according to the latest CoreLogic data. 
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South Fremantle, WA mortgagee home sold for $240,000 loss

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The $4.62 million sale of Brooklyn, the 1880s heritage-listed Fitzroy property currently operating as a four star hotel, topped the weekend auction sales.
It was on the market for the first time in a decade, listed by the filmmaker and designer Maggie Fooke.
Fooke paid $1.5 million for the landmark property (above and below) in 2006.
The George Street building was constructed in 1865 and later extended in Ecclesiastical Gothic style with a double loggia façade by the shoe importer Joseph Levy.
The property with 12 rooms had also previously been ran as a boarding house.
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Nelson Alexander agents Arch Staver and David Sanguinedo gave a $4.2 million to $4.5 million pre-auction price guide, suggesting it was suitable for conversion into a luxury family home.
After it sold $125,000 above reserve Staver old domain the piece of “old Fitzroy” would now be converted into a private home. It fell short of Fitzroy's $4.9 million record price on Gore Street in 2017
The number of homes taken to auction across the capital cities increased to 1,633 this week returning a preliminary clearance rate of 75.7 per cent, according to CoreLogic.
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The previous week saw 1,533 homes taken to auction returning a final clearance rate of 72.3 per cent.
 
"Although the final clearance rate across the combined capitals will revise lower as remaining results are collected, it will likely hold above 70 per cent for the fifth consecutive week," CoreLogic auction analyst Kevin Brogan said.
Over the same week last year, auction activity was higher with 1,983 homes taken to auction, returning a significantly lower clearance rate of 51.8 per cent.
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Melbourne was host to 824 auctions, returning a preliminary clearance rate of 75.7 per cent marking the eighth consecutive week where the clearance rate has held above 70 per cent.
There were several trophy homes sold pre-auction with undisclosed outcomes including an 1888 Hawthorn home marketed with $6 million to $6.5 million price guidance.
The five-bedroom home, at <a href="https://www.marshallwhite.com.au/property/518-glenferrie-road-hawthorn-821307/" target="_blank">518 Glenferrie Road</a> (below), was built on a 1297sq.m block.
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It features four bathrooms, an internal lift, a cellar, and a five-car basement garage.
The house underwent significant renovation in 2010, at which time a pool and spa were also added. 
Nikki Van Gulick, Hamish Tastevin, and James Tastevin, from Marshall White Boroondara, listed the home that had last sold in 2004 for $2.1605 million.
The prior weekend in Melbourne saw 765 Melbourne homes taken to auction with a 74 percent final clearance rate.
Over the same week last year, a clearance rate of 54.1 per cent was recorded across 988 auctions.
Melbourne had the nation's cheapest sale when $255,000 was paid in St Kilda.
It was the one bedroom <a href="https://www.woodards.com.au/property/208-129-fitzroy-street-st-kilda-3182-822726" target="_blank">208/127-129 Fitzroy Street</a> (below), set within the George Hotel. It sold at $159,500 in 1995.
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Woodwards agent Juanita Kelly had given a $250,000 to $275,000 price guide.
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Sydney recorded a preliminary clearance rate of 80.3 per cent across 580 auctions this week.
 Over the previous week, final results show 75.7 per cent of the 528 auctions were successful. 
One year ago, 669 auctions were held across Sydney returning a final clearance rate of 48.6 per cent.
Sydney's top sale was at Northwood when $3.71 million was paid for <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/lower-north-shore/northwood/414599" target="_blank">46 Northwood Road</a>, a two storey five bedroom brick house (below).
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It was marketed by McGrath agent Brent Courtney has having water and city views.
Across the smaller auction markets, Adelaide, Canberra and Perth saw lower auction volumes week-on-week while Brisbane and Tasmania saw an increase in the number of homes taken to auction over the week.
Adelaide prices ranged between $420,000 at St Agnes to $1.047 million at Myrtle Bank.
Both were three bedroom homes.
<a href="https://sheppardproperty.harcourts.com.au/Property/800628/SME23366/16-Radar-Street" target="_blank">The 16 Radar St, St Agnes offering</a> sold through HAR Sheppard Property had $400,000 price guidance.
The three bedroom 1925 bungalow at <a href="https://www.raineandhorne.com.au/glenelg/properties/3-lindsay-avenue-myrtle-bank-5064-south-australia-49483601-7a89-4582-b3fb-b6d2e9bb24c1" target="_blank">3 Lindsay Avenue, Myrtle Bank</a> was sold by Peter Emes at R&amp;H Glenelg having sold in 2010 at $800,000.
A pool was installed several years ago costing $35,000.
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Brooklyn, Fitzroy four star hotel to close after weekend auction

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The winning penthouse from the Block’s 2015 series failed to sell at weekend auction.
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<div id="google_ads_iframe_/31694718/domain.com.au/news/auctions_3__container__">The penthouse apartment at <a href="https://www.domain.com.au/6-1a-affleck-street-south-yarra-vic-3141-2015529113" target="_blank" rel="noopener">6/1a Affleck Street, South Yarra</a> was auctioned by The Agency.</div>
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<div class="ad">Auctioneer Peter Kakos made a vendor bid of $2.1 million seeking a $50,000 rise, Domain reported.</div>
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<div class="ad">The 240 sqm property was listed with $2.3 million to $2.45 million hopes.</div>
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<div class="ad">It now has a $2,445,000 price.
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The top-floor apartment was transformed by Dean and Shay Paine who took the top prize and $750,000 cash in 2015. 
It sold for $2.3 million to a regular investor in The Block’s properties. 
The investor sold it in 2018 for $2.365 million.
 
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No sale for Blocktagon, South Yarra penthouse

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Wayne Byres, chairman of the Australian Prudential Regulation Authority (APRA), has said financial stability risks from very cheap debt overload and high-cost housing were still present in the economy.
Amid signs of a property recovery in the Melbourne and Sydney property markets, Byres said the market was at an "interesting juncture".
"The downward adjustment in prices has occurred in an orderly fashion and been positive for stability," he said in a speech in Melbourne.
"However, it is worth remembering that the original risks we were concerned about in 2014 - high prices, high debt, low interest rates and subdued income growth - have not gone away, and in some cases increased."
He noted the downward adjustment in prices has occurred in an orderly fashion and been positive for stability.
"It would be unhelpful if recent (and prospective) interest rate reductions led to a resurgence in speculative activity," he said. 
Byres said he did not want banks to cut their credit standards as a way to fire up loan growth.
"When it comes to the supply of credit, it would therefore be unwise for lending standards to be allowed to erode again as a means of generating lending growth. And on the demand side, it would be unhelpful if recent (and prospective) interest rate reductions led to a resurgence in speculative activity," he said.
"Financial stability doesn’t happen by chance," he noted.
Earlier this month, CoreLogic reported Melbourne house prices rose 1.3 per cent in August, while Sydney prices rose 1.5 per cent. National housing prices were up 0.8 per cent in the same month, the first increase since October 2017.
Byres' speech also noted the squeeze on bank profits.
It arose from low interest rates as lenders offset the decline in their lending rates through their deposit portfolios.
Byres said smaller banks, which have a higher reliance on deposit funding, could feel the hit on their profits "more forcefully" than large banks.
He indicated it could affect competition in the market.
"All four Australian major banks enjoy AA credit ratings, and ready access to funding; very few European banks (without explicit government support) enjoy similar ratings
"In 2018, a decade after the crisis, the four Australian majors were ranked in the top 35 banks in the world by market capitalisation.
"Europe, despite a much larger banking system and population, only had four banks in the top 35.
"The return on equity (RoE) of the Australian major banks has certainly declined but has not fallen below 10 per cent, even during the GFC, and is now in the order of 12 per cent; for large global European banks, RoE was negative at the height of the crisis, and has struggled to get much above 5 per cent since then."
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APRA's Wayne Byres warns of high debt and rising property prices

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There are now just 182 listings remaining on the Purplebricks website.
It's less than a quarter of what remained in July when they still held <a href="/news/purplebricks-australian-property-listings-shrink-to-just-800-homes-for-sale">800 listings</a>. 
Since then a number of properties have been presumably sold or vendors have ditched the UK-based disruptor for local estate agents.
<img src="https://www.urban.com.au/images/2019/9/13/Tallai%20PurpleBricks.JPG" alt="">
The <a href="https://www.purplebricks.com.au/search/property-for-sale#?q&amp;location=&amp;page=1&amp;searchType=ForSale&amp;sortBy=2" target="_blank">remaining 182 offerings</a> range from around $2.4 at 19 Alawara Drive, Tallai (pictured above), a seven bedroom, seven bathroom house set on 0.82 hectares to $150,000 for 140 Gilmore Ave, Medina.
The 522 square metre Medina, West Australia holding has been for sale since December 2018 with the asking price reduced from $170,000 in August 2019.
According to their website, around 73 agents are still on deck, down from 85 in July.
In early May, Purplebricks Australia announced its intention to exit the Australian market.
Despite the newly-installed CEO Neil Tavender and Kenny Bruce having overhauled the pricing model, so that half the fee was paid upfront and half on completion of the sale, Purplebricks decided to abandon the Australian market.
The pressure on the Australian business was most clearly exposed when it reported an $18 million interim loss for the six months to October last year.
Vic Darvey, the Purplebricks Group CEO said in May that after much consideration it had "made the difficult decision to close the Australian business."
"We’ve been operating here for two and half years and, unfortunately, we have been unable to make the progress in the Australian market that we’ve wanted, despite the tireless efforts of our employees," he concluded.
The Australian branch announced that they would take no further listings in Australia, but intended to finalise all existing agreements.
They announced their decision just a week after UBS said the company was<a href="/news/purplebricks-not-likely-to-make-profit-in-australia-until-2022-ubs"> not likely to make money in Australia</a> until 2022.
In the month prior to the shutdown it was forecast that Purplebricks would potentially have to close its Australian operations <a href="/news/purplebricks-australian-agency-may-need-to-be-abandoned-to-save-uk-mothership">to save the UK mothership</a>.
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Purplebricks Australia down to just 182 property listings

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A Sans Souci, New South Wales mortgagee home has sold for $665,000.
The sales follows a late August auction and a previous unsuccessful marketing campaign that ran from August 2018 to February 2019 when the home wasn't advertised as a mortgagee sale.
Rod Mumford of Belle Property managed the latest marketing and auction campaign.
Situated at <a href="https://www.propertyobserver.com.au/realestate.com.au/sold/property-unit-nsw-sans+souci-131709566" target="_blank">1/410-420 Rocky Point Road</a>, the abode comprises a two bedroom, two bathroom apartment with one garage space.
Featuring 90 square metres of internal space, the home is positioned on the first floor of the complex which is host to the Sans Souci Medical Practice in Suite 225.
Built in 2008, the home was advertised during the first campaign with a price guidance of $720,000 - $760,000, which was reduced to $650,000 by the end of the campaign.
The home last sold in 2008 for $410,000.
<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>
The median sale price for an apartment in <a href="/developments/sans-souci-nsw-2219">Sans Souci</a> is $780,000 according to the latest CoreLogic data.
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Sans Souci, NSW mortgagee home asking price slashed $110,000 and sold

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

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One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

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Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Staff reporter

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