Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

Splitting time between <a href="/developments/sydney-nsw">Sydney</a> and the <a href="/developments/gold-coast-qld">Gold Coast</a> has never been so popular.

While a long-favoured destination for Sydney families seeking a summer getaway, the Gold Coast is growing in popularity among retirees who are making it their second home, and sometimes, their primary residence.

Of course there are also who already have the beachside lifestyle in Sydney, but are looking for something else.

That was the case for David and Antoniette Richards, who have been Mosman locals for several decades. They recently secured a <a href="/new-townhouses/capri-villas-81-salerno-street-isle-of-capri">villa in Capri</a>, the gated community currently being delivered by <a href="/developers/monaco-property-group">Monaco Property Group</a> on the <a href="/developments/isle-of-capri-qld-4217">Isle of Capri</a>, across a bridge from <a href="/developments/surfers-paradise-qld-4217">Surfers Paradise</a> and all of the connectivity that comes with it.

&nbsp;

[smartcode_project:default project_id=139511 project_image_fid=324087]

The couple had been exploring their options and how they want to downsize. Looking at the local Mosman market, and the $5 million-plus prices that were being commanded for two and three-bedroom apartments, they decided to look north.

“We’ve been holidaying on the Gold Coast for the last four decades, and as we approach retirement, we wanted to spend more time here,” says David, a former journalist and media executive. “The decision to move north was an easy one. The question for us was where.”

For David and Antoniette, it wasn’t necessarily to make a sea change.

“Initially, we looked at places like <a href="/developments/broadbeach-qld-4218">Broadbeach</a> and <a href="/developments/main-beach-qld-4217">Main Beach</a>, but we didn’t feel the need to be right on the beach,” says David, whose home overlooks Balmoral Beach in Mosman. “What really appealed to us was the size of the properties and the type of community we could become part of.”

When they discovered the <a href="/new-townhouses/capri-villas-81-salerno-street-isle-of-capri">Capri</a> development, everything clicked. “When we saw what Monaco Property Group was offering, we knew it was the right fit for us,” David recalls.

&nbsp;

[smartcode_project:default project_id=139511 project_image_fid=324095]

The Richards secured a three-level, four-bedroom townhouse in the villa community of 48 residences, paying a fraction of what they would have paid for something similar in Sydney. “It’s incredible value for money,” David says. “You couldn’t get anything like this in a desirable Sydney suburb.”

Beyond the financial benefits, the location of <a href="/new-townhouses/capri-villas-81-salerno-street-isle-of-capri">Capri</a> was a major draw. The development is nestled near golf clubs, cafes like Via Roma, and is far enough from the Gold Coast’s major tourist zones to offer a more tranquil lifestyle. “It’s the best of both worlds,” David adds. “We’re close to everything, but not caught up in the noise.”

&nbsp;

[smartcode_project:default project_id=139511 project_image_fid=324091]

Antoinette, a seasoned interior designer, was particularly excited about the possibilities the new space presented. The couple has built and designed several homes together in Sydney, and Antoinette knew exactly what to look for when it came to both the layout and finishes of their new home.&nbsp;

“NPA Projects took us through the specifications, and Plus Architecture and BDA designed a floorplan that suited our needs perfectly,” David says. “The multi-generational layouts, private lift, and high-end appliances really sold us on the place.”

The central amenities at <a href="/new-townhouses/capri-villas-81-salerno-street-isle-of-capri">Capri</a> were also key to their decision.&nbsp;

“The smaller downsizer buildings in Sydney didn’t offer the level of amenities we wanted. We wanted a real sense of community, where we could interact with neighbours and see familiar faces at the pool, rather than constantly encountering short-term renters and holidaymakers.”

&nbsp;

[smartcode_project:default project_id=139511 project_image_fid=324094]

While the housing type, design, specifications, location and price boxes were all ticked, a purchase wouldn’t have happened without confidence in the team delivering <a href="/new-townhouses/capri-villas-81-salerno-street-isle-of-capri">Capri</a>.

“I was impressed with the developer and his passion for the project,” David said.

“We were told he was a local <a href="/developments/isle-of-capri-qld-4217">Isle of Capri</a> resident, and that helped in our understanding of what the project meant to him.”&nbsp;

[smartcode_project:default project_id=139511 project_image_fid=298831]

David said nowadays, you really have to do your research.&nbsp;

“Buildings from the 70s through to the 2000s were built to last, and there wasn’t much to worry about when it came to researching the developers behind them. But now, buyers have to be more diligent. You really need to understand who is behind a project before committing,” he says.

Adding to the confidence of the developer was the build partner, Greyburn, who has delivered a string of projects up and down the Gold Coast for over 20 years.

Greyburn is a solid builder in South East Queensland, and it’s easy to see they deliver what they promise. We feel confident in their ability to complete the project to the highest standard.”

Construction of <a href="/new-townhouses/capri-villas-81-salerno-street-isle-of-capri">Capri</a> is set to complete in mid-2025. A handful of villas remain for sale.

David and Antoniette took part in Urban's Buyer Q&amp;A series which focuses on the driving factors behind&nbsp;<a href="https://expert-insights/buying/the-top-eight-considerations-when-buying-off-the-plan" target="">buying off the plan</a>&nbsp;property in Australia.

[smartcode_project_cta:default project_id=139511]

Construction of the villa development, Capri, is set to complete in mid-2025

From Mosman to Isle of Capri: Why Sydney buyers are heading to the Gold Coast

Southport is about to witness the arrival of some of its most expansive apartments ever, with the launch of Brighton on The Park, a prestigious new development by Sixty Sticks.

Positioned on the park-facing Brighton Boulevard, <a href="/new-apartments/brighton-on-the-park-southport-28-brighton-parade-southport">Brighton on the Park</a> offers unparalleled, never-to-be-built-out views over the adjacent parklands, Nerang River, and extensive views toward the Main Beach skyline and Surfers Paradise. The exclusive development will feature just 12 luxurious apartments, with sizes starting from a generous 247 sqm.

The three-bedroom, half-floor residences offer spacious living, with the largest apartments reaching 300 sqm.

Designed with a focus on lifestyle and leisure, Brighton on The Park boasts an array of high-end amenities, including a rooftop pool with sun-drenched day beds, a fully equipped gym, and multiple lounge areas.

[smartcode_project:default project_id=138113 project_image_fid=209672]

Sixty Sticks, led by Andrew Gilbert, has owned the 1,000 sqm-plus site since 2018, well before COVID-19 caused land prices on the Gold Coast to soar to record highs.

Preliminary works are booked in and ready to ensure the project launches by early 2025.

Demolition of the existing house on the property will begin shortly, with construction expected to start in Q1/Q2 2025. The build is anticipated to take around 14 months, as the project will not require excavation for basement parking, which typically adds significant time to the timeline.

With construction on track, buyers can expect to move in by mid-2026.

[smartcode_project:default project_id=138113 project_image_fid=209672]

Gilbert explains that the majority of buyer interest so far has come from local suburbs, particularly downsizers looking for spacious apartments that can accommodate visits from kids and grandkids.

"These buyers are drawn to the convenience of apartment living, with all the comforts of a home—like a rooftop pool and an entertainer’s balcony—without the upkeep," Gilbert says.

[smartcode_project:default project_id=138113 project_image_fid=209308]

Each apartment features a generous balcony with a full outdoor kitchen, offering views over James Overell Park and the Gold Coast skyline.

The heart of each residence is the kitchen, designed to offer the feel of a house with a large butler’s pantry and a floating island that doubles as both a dining and entertaining area.

Each apartment also includes two side-by-side parking spaces, complete with an EV charging station.

[smartcode_project_cta:default project_id=138113]

Sixty Sticks, led by Andrew Gilbert, has owned the 1,000 sqm-plus site since 2018, well before COVID-19 caused land prices on the Gold Coast to soar to record highs


Brighton on the Park to offer Southport's largest apartments

Three years after submitting a planning application, and two and a half years since it was approved, Iris Capital has revealed to buyers what it plans to create on its prime Garfield Terrace site.

The development, 71 Garfield, will feature just 52 apartments, ranging from two-bedroom units with multi-purpose rooms to a $25.5 million penthouse. Designed by <a href="/architects/dbi">DBI</a>, the architecture firm behind Iris Capital’s debut Gold Coast project, V&amp;A Broadbeach, 71 Garfield is set to offer a new level of luxury in the area.

[smartcode_project:default project_id=110713 project_image_fid=317231]

The majority of the apartments, with spacious layouts and premium finishes, are oriented to take advantage of the beachside position. The building will offer direct access to the sand.

There are two, three and four-bedrooms, a three-level penthouse with its own private rooftop terrace on offer, as well as a rare, two-level beachfront house with four bedrooms, two living areas, and a private pool.

[smartcode_project:default project_id=110713 project_image_fid=317233]

Residents of 71 Garfield will benefit from several luxury facilities, also oriented to capture the views. The swimming pool and gym looking directly across the water, as does the yoga deck.

On the submission to the Gold Coast City Council, DBI said 71 Garfield is "designed exclusively for the coastal environment, moving away from smaller unit types and white upstands to embrace the increasing demand for large apartments and a new level of coastal sophistication."

"Iris Capital is set to deliver a new breed of building, combining subtropical principles, fashion inspired design and a sky living experience."

[smartcode_project:default project_id=110713 project_image_fid=317232]

71 Garfield is one of just a handful of projects active in the market on what is known as the Surfers Paradise Glitter Strip.

Garfield Terrace, on Northcliffe Beach, was mooted to go through a huge transformation several years ago, but several developments haven't gone ahead and have traded hands in recent years.

AALTO, by Weiya Holdings just next door to 71 Garfield, is now in the <a href="/news/qld/first-look-exclusive-winx-breeder-john-camilleri-continues-gold-coast-apartment-development-site-spree">hands of Winx breeder John Camilleri</a>, while prominent developer KTQ also sold its <a href="/news/qld/first-look-ktq-sell-garfield-terrace-site-for-56-million-as-demand-soars-for-gold-coast-beachfront-sites">Garfield Terrace site for $56 million</a>.

<a href="/developers/iris-capital">Iris Capital</a> is working away on <a href="/new-apartments/victoria-albert-broadbeach-20-albert-avenue-broadbeach">Victoria &amp; Albert</a>, its two-tower landmark which is replacing the Niecon Plaza in <a href="/developments/broadbeach-qld-4218">Broadbeach</a>.

Iris, led by billionaire Sam Arnaout, is now a fully integrated developer, having <a href="/news/qld/iris-capital-create-construction-arm-to-build-victoria-albert-broadbeach-apartments">brought construction inhouse last year</a> when they established <a href="/builders/iris-built">Iris Built</a>.

[smartcode_project_cta:default project_id=110713]

71 Garfield is one of just a handful of projects active in the market on what is known as the Surfers Paradise Glitter Strip.

Iris Capital reveals 71 Garfield, Surfers Paradise beachfront apartments

Broadbeach has been dethroned as the most popular suburb on the Gold Coast.

Data from MatterFact, the data partner of Apartments.com.au, revealed that&nbsp;<a href="/developments/palm-beach-qld-4221">Palm Beach</a> was the most enquired-on suburb in November, overtaking <a href="/developments/broadbeach-qld-4218">Broadbeach</a>, which had held the top spot every month in 2024—except for May, when Palm Beach last claimed the title.

Interest in the Gold Coast tends to surge in November, December, and January, particularly from people based in southern states and Brisbane who are planning to holiday in the region.

Palm Beach has been the <a href="/news/qld/palm-beach-the-most-indemand-off-the-plan-apartment-market-on-the-gold-coast">most searched suburb on the Gold Coast</a> for the past four quarters on Apartments.com.au, but the scarcity of new projects had left much of that demand unmet.

The last project to come to market in Palm Beach was La Belle&nbsp;Marquee Development Partners, 74 premium beachfront apartments.

The newest development in Palm Beach, just the second to launch in 2024, is tapping into that unmet demand, a segment of the market which has been overlooked in recent years.

Developer <a href="/developers/sherpa-property-group">Sherpa Property Group</a> has created a new brand, Flourish, to cater to the likes of first home buyers and rightsizers, not just affluent downsizers or holidaymakers.

The brand's debut project,&nbsp;Flourish on Sixth, offers a range of one, two, and three-bedroom apartments, with one-bedroom units starting from under $600,000. These apartments have been quickly snapped up, and while many of the two-bedroom units are also sold, there are still some available around the $1 million mark—an unprecedented price in today’s Gold Coast apartment market.

[smartcode_project:default project_id=146527 project_image_fid=306036]

With amenities including an 800 sqm rooftop featuring a heated lap pool, private cabanas, and a wellness centre, the project delivers high-end communal spaces while maintaining affordability.&nbsp;

The inclusion of shared electric vehicle services and other sustainable features adds further appeal for buyers seeking modern, environmentally conscious living.

[smartcode_project:default project_id=146527 project_image_fid=306037]

Demand is set to continue into 2025. Next year the local market will welcome back <a href="/new-apartments/villea-palm-beach-26-mawarra-street-palm-beach-qld-4221">Villea Palm Beach</a>, by Sydney and Melbourne developer <a href="/developers/abadeen-group">Abadeen</a>.

Gordon Corp is teaming up again with the Mathieson family to launch their Jefferson Lane project which will bring another&nbsp;47 two and three-bedroom apartments to the undersupplied market.

Sydney-based Chanine Developments and local developer Macquarie York are focussing on half and full-floor apartments.

[smartcode_project_cta:default project_id=146527]

Palm Beach has been the most searched suburb on the Gold Coast for the past four quarters on Urban.com.au, but the scarcity of new projects had left much of that demand unmet

Enquiry for new apartments in Palm Beach hits 18-month high

Melbourne’s off the plan apartment market received a major boost in October when the Victorian Government announced the immediate abolition of stamp duty, effective for the next 12 months until October 2025.

The surprise announcement quickly ignited a flurry of activity among developers who had previously been holding off launching projects, waiting for a range of unpredictable factors to align before launching new projects.

With this new incentive expected to increase buyer demand, many developers are now eager to get their projects into the market as soon as possible.

As a result, Melbourne is set to see a significant influx of new projects in 2025, from towering CBD developments — which have largely been absent in the past five years — to boutique buildings in some of the city’s trendiest suburbs.

In this article, we explore where, what, and who is driving the most exciting new developments coming to Melbourne in 2025.

<h2>Who:&nbsp;Far East Consortium</h2>

<h2>What: 640Bourke</h2>

<h2>Where: Melbourne</h2>

One of the first CBD tower launches in recent memory is set to hit the market in 2025 with&nbsp;<a href="/developers/far-east-consortium">Far East Consortium</a>, the developer of the four-tower, $1 billion West Side Place on Spencer Street, seeking to again change the Melbourne CBD skyline.

Early next year they'll launch Monument, just over 600 apartments at 640 Bourke Street, at the eastern end of the long street and a stone's throw from Flinders Station.

[smartcode_project:default project_id=509 project_image_fid=316025]

Monument has been designed by <a href="/architects/rothelowman">Rothelowman</a> and will integrate four levels of amenities, gallery spaces, and a revitalised Langs Lane which will be in the redeveloped Eliza Tinsley building which dates back to 1925.

One, two and three-bedroom apartments will start from $640,000.

<h2>Who: S P Setia</h2>

<h2>What: Atlas, Melbourne</h2>

<h2>Where: Melbourne</h2>

Malaysian developer <a href="/developers/s-p-setia">S P Setia</a>, who has been behind the likes of UNO Melbourne, Sapphire by The Gardens, and Fulton Lane, is also set to launch a new tower in the CBD.

<a href="/new-apartments/atlas-melbourne-383-la-trobe-street-melbourne">Atlas Melbourne</a>, a 71-level skyscraper at 383 La Trobe Street, just down the road from UNO, will have just shy of 800 apartments.&nbsp;

<img alt="S P Setia" data-entity-type="file" data-entity-uuid="86b6dfc7-9a0d-440c-a7fd-d4c907b82078" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-12-05%20at%209.55.11%E2%80%AFAM.png?VersionId=4ahW0zLY5_UnBUM5O3xqc5LEH_y8o4Ki" />

<a href="/architects/cox-architecture">Cox Architecture</a> has worked with <a href="/architects/fk-australia">FK Australia</a> to create what it being pitched as "something new for Melbourne, while being entirely of Melbourne.

It pays homage to the history of the 2,850 sqm site, formerly the home of the Royal Mint.

There will be around 163 studio apartments on offer, 373 one-beds, 206 two's, and 55 three-bed apartments, located above a two-level arcade with eight retail tenancies.

<h2>Who: CASA</h2>

<h2>What: 671 Chapel Street</h2>

<h2>Where: South Yarra</h2>

South Yarra's famous Chapel Street is set for an injection of new apartments, and it's not Gurner's Jam Factory redevelopment.

Developer CASA has taken over a site at 671 Chapel Street, a site which has had several planning approvals over the years, the most recent coming earlier this year when Daniel Grollo's HOME was approved for a build-to-rent project.

CASA has grabbed the reigns and will launch a collection of one, two and three-bedroom apartments designed by <a href="/architects/bates-smart">Bates Smart</a> and in landscaping by <a href="/landscape-architect/jack-merlo">Jack Merlo</a>.

<img alt="Chapel St" data-entity-type="file" data-entity-uuid="6cb508a2-c62e-445b-adaa-09273a4e6406" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-12-04%20at%209.55.34%E2%80%AFPM.png?VersionId=8uC1zmQ_gMSTovkfO0qeTBSDgrkmf82W" />

&nbsp;

The Chapel St site is just behind Melbourne High School, which means protected viewlines to the CBD.

CASA is led by Renato Calandro, a former executive of Grollo's Grocon and HOME. CASA is also working on projects in Fitzroy, Port Melbourne, and a development in North Sydney in a joint venture with Podia.

<h2>Who:&nbsp;Abadeen</h2>

<h2>What: Grandview Prahran</h2>

<h2>Where: Prahran</h2>

The VIC arm of luxury Sydney developer <a href="/developers/abadeen-group">Abadeen</a> has been active in the market since entering it around 12 months ago.

Currently developing <a href="/new-apartments/malea-94-burke-road-malvern-east">Malae</a>, a boutique collection of seven apartments in <a href="/developments/malvern-east-vic-3145">Malvern East</a>, of which more than half are spoken for, will kick off 2025 by launching their second Melbourne project.

<img alt="Prahran" data-entity-type="file" data-entity-uuid="6f269a9d-5dc4-4f58-902d-dfb09c2b893b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-12-05%20at%202.38.07%E2%80%AFPM.png?VersionId=1s7os5l9aSLwjGABPuUN34woFNMpQFzx" />

Earlier this year Abadeen, who is being led locally by former CBRE executive and developer Andrew Leoncelli, secured a prime 2,198 sqm site at 616-646 High Street&nbsp;in Prahran. They had Carr put together the designs for <a href="/new-apartments/grandview-prahran-616-646-high-street-prahran-vic-3181">Grandview Prahran</a>, which curves around a national trust significant Smookt Bark Apple tree.

The four-level building will have 26 large-scale aparments, with the two-beds starting from around 100 sqm and the three's ranging in size to 269 sqm.

Pending council approval which should come in the next week, they will launch the project

<h2>Who:&nbsp;Abadeen</h2>

<h2>Where: Caulfield North</h2>

Abadeen is going large-scale again next year, and another parkside project.

Later in the year they're hoping to launch a new project in&nbsp;<a href="/developments/caulfield-north-vic-3161?sort=">Caulfield North</a>, predominantly made up of large three-bedroom apartments.

The 1,060 sqm site at <a href="/new-apartments/219-229-balaclava-road-caulfield-north">219-229 Balaclava Road</a>, directly across from Caulfield Park, came with approved plans for a seven-level building.

Abadeen brought in architecture firm Powell &amp; Glenn to alter the apartment makeup and tweak the design to give it a "New York-style feel".

Large apartments for the downsizer is the path Abadeen is taking in Melbourne, following the blueprint of what Abadeen has created for decades across Sydney's most affluent suburbs in the Lower North Shore.

<h2>Who: Hamton</h2>

<h2>What: Scotch Hill Gardens</h2>

<h2>Where: Hawthorn</h2>

Community developer <a href="/developers/hamton">Hamton</a> will launch Scotch Hill Gardens, its highly anticipated Hawthorn masterplan on the former home of the University of Melbourne, early next year.

The six-building, low-rise precinct will comprise 365 residences, a mix of apartments and townhouses, as well as 5,500 sqm of new publicly-accessible green space and a new retail village to <a href="/developments/hawthorn-vic-3122">Hawthorn</a>.

The major residential development <a href="/new-apartments/hawthorn-vic-3122">Auburn Road</a> is one of the largest to be approved under the Allan government’s accelerated Development Facilitation Program, which seeks to reduce the application timeframe for eligible projects.

<img alt="Hamton" data-entity-type="file" data-entity-uuid="ac68e533-8dca-40e9-baf3-66208388e980" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-12-05%20at%2012.26.19%E2%80%AFPM.png?VersionId=H8GgTZQM4C5rsSPVg3X_FP1iu2UN_cd8" />

After a joint application from <a href="/developers/hamton">Hamton</a> and the University of Melbourne in March 2022, the Planning Minister oversaw the rezoning of the site from public use to enable residential development and approved a detailed development plan to govern planning outcomes for the 1.6ha site.

Hamton’s Founder and Executive Chairman, Paul Hameister OAM, said the project will create a rare opportunity for buyers in a premium suburb that is highly sought-after.

Sales are expected to launch in February.

<h2>Who:&nbsp;Time &amp; Place</h2>

<h2>What: Glen Iris Village Corner</h2>

<h2>Where: Glen Iris</h2>

Diversified property developer <a href="/developers/time-place">Time &amp; Place</a>, in partnership with Woolworths Group, is expected to launch sales of its recently approved $150 million mixed-use development in Glen Iris.

The five-level project at 173 Burke Road will comprise 60 apartments targeted at downsizers and young and multi-generational families.

<img alt="First look: Time &amp; Place and Woolworths greenlit for Glen Iris mixed-use precinct" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202024-10-25%20at%204.22.55%E2%80%AFPM.png?VersionId=g6dEr7RH5iiSXAiBdostA8ZkM5Na.ISi" />

The development's ground floor will feature a brand-new Woolworths supermarket, designed to provide a convenient, fresh retail offer for the local Glen Iris community, including a six-bay Direct to Boot facility.&nbsp;

Time &amp; Place Founder and Director, Tim Price, says one of the primary focuses of the project has been addressing the need for diversification in housing typologies of Glen Iris.

<h2>Who:&nbsp;Goldfields</h2>

<h2>Where: Richmond</h2>

Diversified national property developer <a href="/developers/goldfields-group">Goldfields</a> is heading to <a href="/developments/richmond-vic-3121">Richmond</a> for its latest residential development.

The plan is for a 12-level, mixed-use building with 125 apartments above ground floor retail at <a href="/new-apartments/9-15-brighton-street-richmond">9-15 Brighton Street</a>, near East Richmond Station.

<img alt="Goldfields ready new $150 million mixed-use development in Richmond" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Richmond%20Site%202.jpg?VersionId=vxKyRwoFAeVSG58o3XXX7E7KTR3UEbEj" />

Rob Granger, Goldfields General Manager – Built Form, said the new project&nbsp;will bring another high-quality residential development to Richmond.

Cera Stribley has designed the building which will sit in landscaping by <a href="/landscape-architect/jack-merlo">Jack Merlo</a>.

<h2>Who: Kincrest</h2>

<h2>What: The Osment</h2>

<h2>Where: Prahran</h2>

Developer <a href="/developers/kincrest">Kincrest</a> will be bringing one of the best parkside developments to <a href="/developments/prahran-vic-3181">Prahran</a>, on a prime 1,613 sqm site on Grattan Gardens.

They'll be launching 22 two, three and four-bedroom apartments across a seven-level building at 3-7 Grattan Street, a site with a 35-metre frontage to the popular Prahran park.

<img alt="The 10 hottest off the plan apartment developments coming to Melbourne in 2024 " data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%2010.36.50%20am.png?VersionId=CHSl4.FRxEblmX8Chkbm5NRiGvmTYAZE" />

The mixed-use plans by <a href="/architects/cheah-saw-architecture">Cheah Saw Architecture</a> will include two levels of strata offices and a ground-floor cafe and retail space that will face the park.

"The Greville St precinct, with positive input from the City of Stonnington, has rejuvenated in recent years, we’re really excited to be within such a historical, vibrant area of life," Kincrest Director Tom Howgate says.

"We see this development as contributing to a world-class location."

<h2>Who:&nbsp;Milieu</h2>

<h2>What:&nbsp;Saxon Street by Milieu</h2>

<h2>Where: Brunswick</h2>

Design-driven developer <a href="/developers/milieu-property">Milieu</a>&nbsp;is returning to <a href="/developments/brunswick-vic-3056">Brunswick</a> for its next development, Saxon Street by Milieu, which will launch in early 2025.

Adjacent to the Brunswick Baths and Library, Saxon Street by Milieu will offer a mix of 80 one, two, and three-bedroom apartments designed by <a href="/architects/jackson-clements-burrows-architects">Jackson Clements Burrows Architects</a>, with interiors by DesignOffice and landscaping by Oculus.

This will be Milieu’s eighth project with DesignOffice and alongside sustainability as standard, Milieu says the apartments "will embody the layers of thought of how people really live in apartments and how good design has a positive impact on our everyday lives."

[smartcode_project:default project_id=136434 project_image_fid=306343]

Saxon Street by Milieu will sit within the Merri-bek Arts and Culture Precinct and will contribute to the public realm through improved pedestrian access and enhancements to local infrastructure.&nbsp;

Its emphasis on community impact aligns with the precinct’s evolution as a hub for arts, wellness, and cultural initiatives, complemented by nearby projects like Siteworks, which will support the local creative scene.

Milieu is currently developing <a href="/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a> on a landmark 1.1-hectare site neighbouring Rippon Lea Estate. Later next year they'll also be launching a new project on Derby Street, Collingwood and are also part of a consortium developing the Fitzroy Gasworks site.

<h2>Who:&nbsp;Cbus Property</h2>

<h2>Where: Melbourne</h2>

<a href="/developers/cbus-property">Cbus Property</a>, a wholly owned entity of Cbus Super, has its eyes on launching its new St Kilda Road project next year.

Having snapped up a 3,036 sqm site at 437 St Kilda Road last year, Cbus is planning a 17-level building with just over 80 apartments.

<img alt="Cbus Property set for first St Kilda Road apartment development" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/437%20St%20Kilda%20Road.jpg?VersionId=FG_zho7Kvfgz9nrse0vISvy57P4TGZwk" />

Describing the site as one of Melbourne's premier undeveloped residential opportunities, Cbus Property's CEO Adrian Pozzo highlighted its prime location, offering views across Fawkner Park and proximity to the CBD, Toorak Road, South Yarra, and Albert Park.&nbsp;

The development will include various residential amenities such as an indoor pool, gym, residents' lounge, and private dining room.&nbsp;

The project represents Cbus Property's fourth collaboration with Bates Smart, following ventures like Classic East Melbourne, 35 Spring St, and 17 Spring St.

<h2>Who:&nbsp;Piccolo</h2>

<h2>What:&nbsp;A Piccolo House, Barry Street</h2>

<h2>Where: Kew</h2>

Downsizer-focused developer&nbsp;<a href="/developers/piccolo">Piccolo</a>&nbsp;has its latest installment of A Piccolo House, its brand that is resonating with downsizers.

Currently delivering <a href="/new-apartments/a-piccolo-house-gore-st-fitzroy-385-gore-street-fitzroy">A Piccolo House Gore Street</a> in <a href="/developments/fitzroy-vic-3065">Fitzroy</a>, Piccolo looks set to launch its <a href="/developments/kew-vic-3101">Kew</a>&nbsp;apartment development at 18 Barry Street,&nbsp;transforming the 8,475 sqm site near Kew Junction into another high-end residential development.&nbsp;

[smartcode_project:default project_id=141498 project_image_fid=290942]

A Piccolo House, Barry Street will comprise&nbsp;five three-level buildings designed by <a href="/architects/woods-bagot">Woods Bagot</a>&nbsp;with&nbsp;60 two, three, and four-bedroom apartments.&nbsp;

Landscaped by ACRE, the buildings will surround a central communal area, with features like private outdoor spaces, a north-facing courtyard, and an amenities building called "The Meadow."

Residents will enjoy a range of shared facilities, including a wine cellar, rooftop garden, gym, yoga room, spa, golf simulator, and a guest studio.&nbsp;

In this article, we explore where, what, and who is driving the most exciting new developments coming to Melbourne in 2025

The top 12 new apartment developments launching in Melbourne in 2025

ASX-listed developer&nbsp;<a href="/developers/lendlease-development">Lendlease</a>&nbsp;has further built on the VIC Government's recent abolition of stamp duty.

Lendlease is offering Collins Wharf buyers an extra boost by covering any residual stamp duty payable on their new home ensuring buyers don't pay any out of pocket costs related to stamp duty.

Under the new government stamp duty reform, someone paying $4.2 million for an off the plan property would save around $256,000 in stamp duty from the government incentive, however, there is still approximately a $35,000 gap that needs to be paid by the buyer.

Lendlease will cover this gap on all of the available residences in their <a href="/new-apartments/regatta-at-collins-wharf-docklands-951-collins-street-docklands">Regatta</a> and <a href="/new-apartments/ancora-at-collins-wharf-docklands-971-collins-street-docklands-vic-3008">Ancora</a> towers at Collins Wharf, their waterfront community in Docklands.

The offer, available until the end of January 2025, will see every type of buyer, both owner-occupiers and investors, pay $0 in stamp duty.

[smartcode_project:default project_id=9779 project_image_fid=314797]

Positioned along the exclusive stretch of Melbourne’s iconic Collins Street, Collins Wharf offers&nbsp;a mix of one, two, and three-bedroom apartments alongside an exclusive Premier Collection of townhomes, skyhomes, and larger-scale residences.

Designed by <a href="/architects/warren-and-mahoney">Warren and Mahoney</a>, Ancora and Regatta at Collins Wharf&nbsp;will take advantage of the precinct's dual-waterfront position between Victoria Harbour and the Yarra River.

[smartcode_project:default project_id=9779 project_image_fid=263997]

Collins Wharf is made up of the Waterfront Collection, with one, two, and three-bedroom apartments from 50 sqm and starting at $690,000, and the exclusive Premier Collection, which introduces larger-scale townhomes, skyhomes, and premium apartments boasting up to 236 sqm.&nbsp;

Each home emphasises open-plan living and connection to the surrounding landscape, crafted with curated interior palettes, premium finishes, and European appliances such as Miele and Gaggenau.

The apartments, with floor-to-ceiling windows and balconies, are designed to maximise the views of Melbourne’s skyline, Victoria Harbour, and Port Phillip Bay.

[smartcode_project:default project_id=9779 project_image_fid=314799]

Amenities reflect a further commitment to both luxury and community, with a hotel-style concierge, indoor pool, gym, steam and sauna rooms, and rooftop sanctuaries providing spaces to unwind.&nbsp;

Residents will also have access to shared lounge and dining areas, a winter garden, and wellness facilities via a podium connecting Ancora with Regatta.

Sustainability is also integral to Ancora’s design, with its all-electric infrastructure targeting a 5-Star Green Star certification.&nbsp;

[smartcode_project:default project_id=9779 project_image_fid=314806]

Electric vehicle-ready facilities and environmentally conscious landscaping further demonstrate the commitment to sustainable urban living.&nbsp;

The development is surrounded by over 5,000 sqm of new parkland, inspired by First Nations culture and designed by landscape architects Openwork.&nbsp;

This green space includes Indigenous plants, fitness stations, play areas, and open lawns, enhancing the connection to nature in an urban setting.

[smartcode_project:default project_id=9779 project_image_fid=314802]

Ancora’s location offers a balance of waterside living and connectivity, with the CBD just a short walk away and exceptional public transport options nearby.&nbsp;

The precinct positions residents at the heart of Melbourne’s cultural and recreational offerings, from sports and arts venues to premium dining and entertainment.&nbsp;

Construction is already underway for Regatta at Collins Wharf, &nbsp;with construction expected to commence for the neighbouring building, Ancora at Collins Wharf, in the first half of 2025.

[smartcode_project_cta:default project_id=144985]

Construction is already underway for Regatta at Collins Wharf,  with works expected to commence for the neighbouring building, Ancora at Collins Wharf, in the first half of 2025

Lendlease to cover full stamp duty at Collins Wharf

Unit values in <a href="/developments/sydney-nsw">Sydney</a> have remained resilient, while the house segment of the market continues to show signs of weakness.

CoreLogic's Monthly Index revealed that unit values rose by 0.2 per cent in November and 0.4 per cent over the past three months, while house values contracted by -0.4 per cent in November and are down -0.8 per cent over the past quarter.

Sydney’s median unit value is now $865,000, reflecting a 2.5 per cent increase since the start of the year.

Houses are facing greater challenges, driven by tighter lending conditions resulting from the Reserve Bank's decision to maintain interest rates, alongside ongoing affordability issues in a market that has shown considerable strength in recent years.

The volume of available listings has contributed to the market's rebalancing, with Sydney’s listings now 10.4 per cent above the five-year average—the highest for this time of year since 2018.

<h2>What happened in Sydney’s off the plan apartment market in November?</h2>

Enquiry levels in November were the highest they’ve been since April, with demand increasing across all regions from Castle Hill to Newcastle and everywhere in between.

The upswing in enquiry was largely driven by the downsizer/rightsizer market, which has been less affected by high interest rates compared to other market segments.

The Eastern Suburbs, in particular, saw a significant rise in demand from both downsizers/rightsizers and investors, spurred by two prominent projects from one of Sydney’s leading builder-developers.

<a href="/developers/toga-group">TOGA</a> recently completed Surry Hills Village, a redevelopment of the former "murder mall" on the border of Surry Hills and Redfern.

[smartcode_project:default project_id=9302 project_image_fid=306319]

It only took a few weeks for them to sell the final penthouse, which achieved a near-suburb record price after expressions of interest were sought at around $7.5 million.

<a href="/architects/sjb-architects">SJB</a> Director Adam Haddow drew inspiration from his award-winning Redfern residence when designing the three-bedroom penthouses at <a href="/buildings/surry-hills-village-redfern-6-14-baptist-street-redfern-nsw-2016">Surry Hills Village</a>.

A limited number of apartments remain for sale in the landmark mixed-use development, which also includes hospitality venues and retail spaces in Wunderlich Lane.

[smartcode_project:default project_id=9302 project_image_fid=313542]

TOGA’s <a href="/new-apartments/the-kensington-147-151-anzac-parade-kensington">The Kensington</a>, a different yet equally appealing development on Anzac Parade, has been attracting interest from all buyer types in recent months.

Located directly outside a light rail stop and within walking distance of the Prince of Wales Hospital, the University of New South Wales, and Centennial Park, The Kensington has proven especially attractive to both first home buyers and investors.

The development features 142 one, two and three-bedroom apartments currently under construction by 4.5-Star iCIRT rated builder <a href="/builders/dasco-australia">DASCO</a>, and will sit above seven retail spaces—an element TOGA consistently incorporates into its projects.

[smartcode_project:default project_id=110959 project_image_fid=307645]

TOGA has also just broken ground on <a href="/new-apartments/macquarie-rise-122-herring-road-macquarie-park">Macquarie Rise</a>, its fourth development in <a href="/developments/macquarie-park-nsw-2113">Macquarie Park</a>. This project will feature three residential towers with a total of 268 apartments. Over 100 units have already been sold.

The $400 million development, designed by <a href="/interior-designers/turner-studio">Turner Studio</a>, will offer flexible living spaces and lifestyle amenities, including a 20-metre lap pool, a Pilates studio, and a cinema room.

[smartcode_project:default project_id=89243 project_image_fid=242700]

November also saw the unveiling of the Sydney Olympic Park Master Plan 2050, which aims to transform the precinct into a vibrant urban community.

The plan proposes the construction of up to 13,000 new homes, including affordable housing, as well as cultural, recreational, and green spaces.

<img alt="Inside the Sydney Olympic Park Master Plan 2050" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/1730068339168.jpg?VersionId=k1DAC2irCX3vAbZgVt7ibYYHDtma7Brw" />

Key precincts, such as the Urban Centre, are set to integrate residential, commercial, and cultural facilities, while environmental conservation efforts also aim to enhance urban greening and sustainability.&nbsp;

As far as looking ahead goes, <a href="/developers/charter-hall">Charter Hall</a> unveiled plans for a near-$1 billion mixed-use tower at&nbsp;201-217 Elizabeth Street in the CBD.&nbsp;&nbsp;

<img alt="Sydney skyline transformation to continue as Charter Hall pitch near-$1 billion skyscraper" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/201%20-%20217%20Elizabeth%20Street%2C%20Sydney%20podium.png?VersionId=lUg5UW5EJFhvvc7kGotbds2rJZPmUQeW" />

The 55-level skyscraper will feature a combination of hotel accommodations and 264 apartments, ranging from one to four bedrooms, alongside retail and hospitality spaces.&nbsp;

Designed by <a href="/architects/fjc-studio">fjc studio</a>, the tower aims for exemplary sustainability benchmarks and offers sweeping views of Hyde Park and Sydney Harbour.

Staying in the CBD,&nbsp;Signapore-listed First Sponsor Group and joint venture partner <a href="/developers/icd-property">ICD Property</a> revealed the first look of their redevelopment of the 130-year-old, state heritage-listed City Tattersall Club building on Pitt Street.

[smartcode_project:default project_id=12428 project_image_fid=312146]

The 241 premium apartments will hit the market in 2025 with CBRE.

<a href="/architects/bvn-architecture">BVN Architecture</a> won the design competition to create the new development, dubbed Sydney House, handling both the tower and the interiors. FJC Studio led the design of the heritage podium.

[smartcode_project:default project_id=12428 project_image_fid=312147]

Given the short supply of new apartments in Sydney, projects in the city tend to outperform the majority of other markets.

<a href="/developers/mirvac">Mirvac</a> smashed records for its first release of its luxury <a href="/new-apartments/harbourside-by-mirvac-2-10-darling-drive-darling-harbour">Harbourside Residences</a> in Darling Harbour. Their $600 million worth of pre-sales was the highest they've achieved in their 50+ year history.

Over 140 apartments have been conditionally sold to local buyers with sold prices ranging from just over $1.7 million to $25 million.

The sales launch for the 48-level luxury residential tower, a redevelopment of the former Harbourside shopping centre, saw a strong response from a diverse range of buyers including downsizers, families and couples from the local market, including the inner west, northwest, eastern suburbs, and north shore of Sydney. There were also some interstate buyers.

[smartcode_project:default project_id=141327 project_image_fid=314728]

New projects on the Sydney Metro line continue to do well.

<a href="/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, the apartments above the Crows Nest Station being developed by Third.i and Phoenix Property Investors saw a successful launch.

Designed by Woods Bagot,&nbsp;<a href="/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>&nbsp;comprises&nbsp;130 one, two, and three-bedroom apartments.

[smartcode_project:default project_id=142550 project_image_fid=309369]

<a href="/developers/thirdi-group">Third.i</a> Co-Founder Luke Berry said the unprecedented demand and strong interest not only reflects the quality of the apartments, but also the increasing demand for convenient, transit-oriented living in Sydney's dynamic real estate market.

“We are thrilled with the strong sales results at launch for Elevate Hume Place, this achievement highlights the growing appetite for contemporary living that prioritises accessibility and connectivity,” Berry said.

“The design, amenities, demographic, and prime location of Elevate Hume Place have attracted a diverse range of local and international buyers, from young professionals and first home buyers to investors and downsizers, all seeking the perfect blend of urban convenience and community charm.”

[smartcode_project:default project_id=142550 project_image_fid=309370]

<a href="/developments/castle-hill-nsw-2154">Castle Hill</a> has also ramped up another notch since the metro opened.

Developer <a href="/developers/ellipse-property-group">Ellipse Property</a> has the largest development in the area, just across the road from the newly opened Hills Showground Precinct station.

Ellipse recently put shovel to ground on <a href="/new-apartments/atrium-at-carrington-place-40-42-ashford-avenue-castle-hill">Atrium</a>, the first stage of Carrington Place which is over 50 per cent sold.

<a href="/builders/decode">Decode</a>, another iCIRT rated builder, is constructing Atrium, part of the wider $750 million masterplan that borders the Cattai Creek. Carrington Place will comprise five stages that, when complete in 2032, will have over 800 homes. Atrium is set to complete in late 2025.

[smartcode_project:default project_id=89496 project_image_fid=216765]

Outside of the Sydney Metro area, <a href="/developers/gwh">GWH</a>, Newcastle's only builder-developer, launched its latest development.

<a href="/new-apartments/era-newcastle-124-126-bull-street-newcastle-west-nsw-2302">ERA by Newcastle</a>, two towers designed by <a href="/architects/fk-australia">FK Australia</a>, will comprise 281 apartments and over 2,000 sqm of resident amenities, aiming to cater to a wide range of buyers, including downsizers and first-home buyers.

[smartcode_project:default project_id=135096 project_image_fid=309968]

ERA is expected to cater to different buyer groups, from first home buyers and investors from Sydney to local downsizers who want a low maintenance, city-centric lifestyle while also being ideally located just a few kilometres from Newcastle’s famous beaches.

City Beat November 2024: Sydney unit values rise while house values decline as market softens

Gold Coast developer <a href="/developers/sherpa-property-group">Sherpa Property Group</a> is doing things a little differently at its newest apartment development in <a href="/developments/palm-beach-qld-4221">Palm Beach</a>.

After focusing primarily on the high-end market with its popular Perspective series, which has garnered attention from Palm Beach to <a href="/developments/chevron-island-qld-4217">Chevron Island</a>, Sherpa is now targeting a broader buyer demographic with its latest project.

Introducing Flourish, a fresh brand aimed at making homeownership more accessible for first home buyers and rightsizers, particularly those with smaller budgets in areas where they would typically be priced out.

The first project under the Flourish brand, <a href="/new-apartments/flourish-on-sixth-ave-6-12-sixth-avenue-palm-beach">Flourish on Sixth</a> in Palm Beach, has already been a success, with more than half of the apartments in the building already snapped up.

One-bedroom apartments were priced under $600,000, while two-bedroom apartments are still around the $1 million mark—prices that are uncommon in the Palm Beach and Burleigh Heads areas

[smartcode_project:default project_id=146527 project_image_fid=311566]

"We believe there's no better location for the Flourish brand of beachside living," Sherpa General Manager, Daniel Clarke, says on Sherpa's fifth development in the suburb.

"Research tells us the average difference in price between beachfront and one block from the beach is about 30 per cent especially in places like Sydney. However, the difference in Palm Beach is more like 100 per cent, meaning greater buyer value just once block from the ocean.

"That's more value we've secured to pass onto the buyer, creating a deal of a lifetime."

[smartcode_project:default project_id=146527 project_image_fid=311562]

True to Sherpa's commitment to delivering high-quality resident amenity in every project they produce, Flourish on Sixth will feature an 800 sqm, north-east facing rooftop with a heated 15-metre lap pool, private cabanas, and communal barbecue area complete with a pizza oven.

Also on the roof will be a&nbsp;wellness centre with a gym, sauna, steam room, and both hot and cold plunge pools. A private kitchen and dining area will also be located on the roof, as will work-from-home facilities and a bookable boardroom.

Flourish will feature a shared electric vehicle service, a car wash station, and electric car charging points.

[smartcode_project:default project_id=146527 project_image_fid=311565]

Sherpa is bringing its trusted development partners to Flourish, including <a href="/builders/lps-group">LPS Group</a>, the builder behind some of their high-end projects. LPS is currently constructing Perspective Nexus in Palm Beach, where two-bedroom apartments start from $1.745 million, and Perspective Helm on Chevron Island, with prices starting at $3.7 million.

LPS will begin construction on Flourish on Sixth early next year, with completion expected by late 2026 or early 2027.

[smartcode_project_cta:default project_id=146527]

"We believe there's no better location for the Flourish brand of beachside living," Sherpa General Manager, Daniel Clarke, says on Sherpa's fifth development in the suburb.

"Creating a deal of a lifetime": Sherpa offers most affordable apartments in Palm Beach with Flourish on Sixth launch

The likes of Morris Property Group, Mosaic, and Abedian & Co, are among those looking to launch new apartment developments in 2025

The top 13 Gold Coast new apartment developments launching in 2025

The Melbourne property market has continued to soften in 2024, with conditions proving challenging for sellers across the city. All dwelling types in Melbourne have experienced negative price growth, signaling a broader downturn that is also impacting Sydney.

Melbourne’s unit market, which includes both apartments and townhouses and is primarily measured in the established sector, has been the weakest in the country over the past quarter. According to CoreLogic data, unit prices have contracted by -0.7 per cent. While this marks the worst performance nationally, the house market has fared only slightly better, with a -1.2 per cent decline in the same period.

In November, the downturn in Melbourne's unit market was marginal, with prices slipping by just -0.1 per cent. However, the house market saw a steeper decline of -0.5 per cent. Typically, when market conditions weaken, houses tend to experience more significant drops compared to units, largely due to their higher affordability. This pattern often follows a period of prolonged price growth, with buyers shifting to more affordable options like units when the market softens.

Despite the ongoing weakness in Melbourne’s property market, factors such as high population growth and a significant supply shortage are prompting many analysts and property experts to question whether the city now presents attractive opportunities for buyers.

The median value for units in Melbourne is now $610,000, according to CoreLogic, placing it behind Brisbane, where the median value has risen to $677,000.

<h2>What happened in Melbourne’s off the plan apartment market in November?</h2>

Despite challening conditions in the established space, there was plenty of activity in Melbourne's off the plan market as developers look to cash in on the VIC Government's <a href="/news/vic/vic-government-slashes-stamp-duty-for-off-the-plan-property-buyers-savings-available-immediately-oct-2024">abolition of stamp duty</a> on off the plan apartments for 12 months.

November also saw the Vic Gov unveil its&nbsp;Great Design Fast Track, promising expedited approvals for well-designed, affordable, and sustainable apartment and townhouse developments.&nbsp;

Shortly after the announcement, and no doubt will be hoping to be fasttracked, is developer Beulah, who submitted plans for a new sustainable <a href="/developments/fitzroy-vic-3065">Fitzroy apartment development</a>.

Designed in collaboration with <a href="/architects/breathe-architecture">Breathe Architecture</a>, the <a href="/news/vic/beulah-unveils-new-sustainable-fitzroy-development">new development</a> will feature 44 apartments,&nbsp;retail spaces, and eco-friendly elements like rooftop solar, rainwater harvesting, and fossil-fuel-free infrastructure.&nbsp;

<img alt="Beulah unveils new sustainable Fitzroy development" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202024-11-13%20at%203.05.31%E2%80%AFPM.png?VersionId=u36MiMLVt5FeJp2BAcDTOonoBxVbjesj" />

&nbsp;

There was continued good news to come from <a href="/new-apartments/highett-common-37-graham-road-highett-vic-3190">Highett Common</a>,&nbsp;Victoria’s inaugural Net Zero Community being developed by&nbsp;<a href="/developers/sunkin-property-group">Sunkin Property Group</a>.

Sunkin topped out the first stage, Park House, which is over 85 per cent sold and will complete in mid-2025.

[smartcode_project:default project_id=108019 project_image_fid=300041]

Park House is the first stage in the&nbsp;transformative 9.3-hectare project that will feature over 1,000 residences, landscaped parks, and exclusive amenities.&nbsp;

Sunkin also launched the next stage of Highett Common,&nbsp;The Mews Collection, introducing 185 new apartments, including luxury residences designed for downsizers and owner-occupiers.&nbsp;

[smartcode_project:default project_id=108019 project_image_fid=300052]

The second stage will also bring the first neighbourhood facilities that will be accessible to the wider&nbsp;<a href="/developments/highett-vic-3190">Highett</a>&nbsp;community.

There will be a new two-level public library, part of the Bayside Community Facility, which will have study areas, rooms for community classes and meetings, and an adjacent café.&nbsp;

The Northern Residents’ Amenity is part of the Mews Collection stage and will comprise&nbsp;a lap&nbsp;indoor pool, a gym with a wellness area, and a bookable private dining room. The Southern Residents’ Amenity will bring another gym with green views, an outdoor swimming pool, wellness hubs and a cinema.

&nbsp;

[smartcode_project:default project_id=108019 project_image_fid=300073]

There was also plenty of activity outside of Melbourne's inner-ring in November.

<a href="/developers/samuel-property" target="">Samuel Property</a> unveiled <a href="/new-townhouses/hali-dromana-105-111-point-nepean-road-dromana-vic-3936">Hali Dromana</a>, a rare townhouse community on the Mornington Peninsula.&nbsp;

The $120 million development, with 69 three and four-bedroom townhouses designed by Cera Stribley, is soon to launch to the market through Blair Property Group.

[smartcode_project:default project_id=147112 project_image_fid=316883]

<a href="/developers/samuel-property">Samuel</a>&nbsp;Managing Director, Illan Samuel, says&nbsp;<a href="/new-townhouses/hali-dromana-105-111-point-nepean-road-dromana-vic-3936">Hali Dromana</a>&nbsp;is a homage to the beloved 1960s holiday home where Australian summers were defined.

"Hali will give&nbsp;<a href="/developments/dromana-vic-3936">Dromana</a>&nbsp;a fresh identity that will stand the test of time," Samuel says.

[smartcode_project:default project_id=147112 project_image_fid=316885]

Down in&nbsp;<a href="/developments/geelong-vic-3220">Geelong</a>, Motif, one of the few new apartment developments in the area, released its penthouses to the market, a collection which has already been <a href="/news/vic/downsizers-set-to-swoop-on-new-penthouses-at-motif-geelong">popular with downsizers</a>.

&nbsp;

[smartcode_project:default project_id=136615 project_image_fid=311692]

Just four apartments sit on the penthouse level, and offer the ideal lockup and leave lifestyle which has proven scarce in the&nbsp;Geelong&nbsp;region for many years.

The penthouses, three three-bedroom apartments and sole two-bedroom apartment, offer the best views from the sixth and highest level of the boutique York Street building designed by&nbsp;<a href="/architects/rothelowman">Rothelowman</a>.

[smartcode_project:default project_id=136615 project_image_fid=311694]

The joint venture between DM Property and Icon Kajima has proven a succesful one, over 60 per cent of the 129 apartments sold since its launch just over 12 months ago.

Hamilton Marino is expected a late-2025 completion for Motif.

Read more:&nbsp;<a href="/news/vic/city-beat-november-2024-melbourne-off-the-plan-market-gets-shot-in-the-arm-but-overall-market-downturn">City Beat November 2024: Melbourne off the plan market gets shot in the arm, but overall market downturn</a>

Read more:&nbsp;<a href="/news/vic/city-beat-october-2024-units-fare-better-than-houses-in-soft-melbourne-property-market">City Beat October 2024: Units fare better than houses in soft Melbourne property market</a> 
&nbsp;

The median value for units in Melbourne is now $610,000, according to CoreLogic, placing it behind Brisbane, where the median value has risen to $677,000.

Latest Property News

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Property News

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News