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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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?

The creation of Surry Hills Village, the new mixed-use residential and retail precinct at the end of Crown Street, has been an eight-year journey for developer TOGA.

The recently completed building, rising on the border of two of Sydney's most popular and trendy suburbs, replaced the former shopping centre that was locally referred to as "murder mall".

Gone is the graffiti and upside down shopping trolleys, and in its place stands one of the newest developments Surry Hills has seen in decades.

I recently caught up with TOGA's Executive General Manager of Sales, Anthony Falas, to talk about the development.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/94qwqVcxFBQ?si=gx8AUz0xZ7MwJPDt" title="YouTube video player" width="560"></iframe>

"Our vision was to bring something new and fresh to the area," Falas said, something which TOGA has certainly delivered on.

<a href="/buildings/surry-hills-village-redfern-6-14-baptist-street-redfern-nsw-2016">Surry Hills Village</a>, a striking building by architecture firm SJB, comprises a mix of 122 apartments and The Eve Hotel Sydney hotel&nbsp;that will open its doors in late 2024.

[smartcode_project:default project_id=9302 project_image_fid=306336]

While being located in arguably the most convenient spot in Surry Hills given Crown Street's status as the go-to street in Sydney for hospitality, TOGA has also created Wunderlich Lane, a retail and hospitality precinct that is home to a series of hand-picked retailers, restaurants, and food purveyors which will create a vibrant local destination for the new residents and the broader community.

Most of the venues in Wunderlich Lane are approaching completion and will be welcoming patrons in December, with the rest of the precinct completing in early 2025. Wunderlich Lane will be home to 25 restaurants and all-day dining, bars, beauty, wellness, boutique retail by some of the city’s best operators, event spaces, fresh food village-style market, and creative office spaces.

Coles, Vintage Cellars, Harris Farm, QMan Barber, Blooms The Chemist and Beyond Eyecare have now opened, and they will soon be joined by Lumi Dining Group, House Made Hospitality and Olympus Dining (by the Apollo Group).

[smartcode_project:default project_id=9302 project_image_fid=306321]

The understanding of the opportunity from locals in particular resulted in the majority of buyers coming from a three-kilometre radius of the development. There have however been purchases from downsizers from the suburbs who wanted to come in and live the vibrant Surry Hills/Redfern lifestyle.

TOGA purposefully created large apartments, knowing the majority of buyers would be owner-occupiers. The two-bedroom apartments, of which a handful remain, average around 85 sqm.

[smartcode_project:default project_id=9302 project_image_fid=306329]

There are just 17 two and three-bedroom apartments and townhouses remaining, including the last remaining penthouse which was designed by SJB Director Adam Haddow who was influenced by his own penthouse apartment in Redfern.

TOGA, an integrated developer with a track record dating back to the early 1960s, built Surry Hills Village through its in-house construction arm.

[smartcode_project_cta:default project_id=9302]

"Our vision was to bring something new and fresh to the area," TOGA's Executive General Manager, Anthony Falas, said

Michael Bird

The eight-year vision comes to life: Inside Surry Hills Village

TOGA's new apartment development, <a href="/new-apartments/the-kensington-147-151-anzac-parade-kensington">The Kensington</a>, is one of the most connected apartment developments the longstanding developer has produced in Sydney.

That's the view of Anthony Falas, who has spent the best part of a decade with TOGA across several developments in the company's long 61-year history.

The Kensington, 142 apartments currently under construction by 4.5 Star iCIRT rated builder DASCO, is located directly right outside a light rail stop, and is a short walk to the Prince of Wales Hospital and health precinct, the University of New South Wales, and Centennial Park.

I recently caught up with Anthony Falas to find out more about <a href="/new-apartments/the-kensington-147-151-anzac-parade-kensington">The Kensington</a>.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/WfcJFR1n4D0?si=_V2-Ya1FO296fj6G" title="YouTube video player" width="560"></iframe>

Falas says given the location, The Kensington is ideally located for both investors and owner-occupiers.

"We're getting a lot of nurses and doctors because of the health precinct, and parents purchasing for their children who are students, both local and overseas," Falas says.

[smartcode_project:default project_id=110959 project_image_fid=307646]

While TOGA tends to build its own developments, given their new development portfolio that includes Macquarie Rise in Macquarie Park, Surry Hills Village, and a several large commercial and hospitality projects, they've brought DASCO in to deliver The Kensington.

“It’s a win-win for the customer,” Falas said, highlighting the added assurance that both TOGA and DASCO hold iCIRT ratings.&nbsp;This certification from Equifax is increasingly recognised as a quality benchmark in the property development industry.

The apartments at The Kensington will sit above seven retail spaces, something that TOGA always incorporates into its developments.

[smartcode_project:default project_id=110959 project_image_fid=307645]

There are a variety of floorplans on offer at The Kensington, a mix of one, two, and three-bedroom apartments that will cater to a wide variety of buyers.

The Kensington also offers several SOHO apartments which combine commercial and residential with dual-entry access to essentially run a business from home.

Cranes are on site and early site works have commenced. Construction of The Kensington is set to conclude in 2026.

[smartcode_project_cta:default project_id=110959]

Anthony Falas says given the location, The Kensington is ideally located for both investors and owner-occupiers

Among the most well-connected apartment developments TOGA has produced: Inside The Kensington

There's a reason apartment developer TOGA is set to soar past delivering over 1,000 apartments in Macquarie Park.

<a href="/developers/toga-group">TOGA</a> Executive General Manager, Tony Falas, says <a href="/developments/macquarie-park-nsw-2113">the suburb</a> is incredibly well connected, with the shopping centre acting as the focal point as well as the university, hospitals, and public transport links to wider Sydney.

TOGA's latest development in Macquarie Park, following on from its successful Macquarie Central, Macquarie Green, and One Twenty Macquarie developments, is Macquarie Rise, three towers with 268 apartments above retail and commercial spaces.

I recently caught up with Tony to find out more about <a href="/new-apartments/macquarie-rise-122-herring-road-macquarie-park">Macquarie Rise</a>.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/s8VoqEO9zkc?si=dfIXwi38K-aTTpeM" title="YouTube video player" width="560"></iframe>

Falas said they have&nbsp;focused particularly on the amenity at Macquarie Rise, as well as the quality of the finish, which they believe is the best quality in the area in the market at the moment.

"We have looked at the competition and we wanted to position ourselves at the top as far as quality is concerned, and that's been vindicated by the buyers that are coming through."

Residents will have access to a suite of amenities including a heated pool, gym, a resident lounge, karaoke room, and a bookable dining room.

[smartcode_project:default project_id=89243 project_image_fid=310789]

There has been a mix of first home buyers and downsizers in the development that offers one, two, three and four-bedroom apartments.

Several of the larger apartments have been cleverly designed to offer multifunctional rooms that have sliding panels rather than traditional doors, adaptable for various uses like study or guest rooms.

[smartcode_project:default project_id=89243 project_image_fid=242700]

TOGA, one of few developers to be rated a Gold Star by Equifax, has started construction on site at 122 Herring Road, a site which Falas says is difficult to replicate given it's at the top of the hill.

Construction has started and is slated for completion in mid-2027

[smartcode_project_cta:default project_id=89243]

Why TOGA likes to develop in Macquarie Park: Inside Macquarie Rise

The tight Gold Coast unit market continued to outperform its house market counterpart in October.

CoreLopgic's Monthly Index showed a further 0.4 per cent growth in units across the Gold Coast, compared to 0.1 per cent growth in houses.

Over the last 12 months, Gold Coast units values have risen 11.9 per cent.

The median value of a unit on the Gold Coast is now $818,000, adding nearly $100,000 having started 2024 at $727,000.

In 2023, unit values rose 10.8 per cent, according to CoreLogic data.

<h2>What happened in the Gold Coast off the plan apartment market in October?</h2>

It was a relatively quiet month in the Gold Coast off the plan apartment market, with only a handful of new developments submitted to council, and another month of no new projects for buyers to choose from.

The Abedian family propped up the apartment supply in October, filing plans for two of its sites in <a href="/developments/coolangatta-qld-4225">Coolangatta</a> and <a href="/developments/broadbeach-qld-4218">Broadbeach</a>.

The first lodgement was for two eight-level towers on part of its 7,000 sqm plus site borderning Marine Parade and Eden Avenue. It's the site of the Greenmount Hotel &amp; Resort which was bought by the Abedian's new development company, Arium, for $42.1 million in 2021.

Read more:&nbsp;<a href="/news/qld/first-look-exclusive-abedian-family-propose-second-stage-of-greenmount-beach-hotel-redevelopment">First look exclusive: Abedian family propose second stage of Greenmount Beach Hotel redevelopment</a>

Then the family, through another new brand, <a href="/developers/abedian-co">Abedian &amp; Co</a>, filed for a 47-level tower at its Mary Avenue site which <a href="/news/qld/first-look-exclusive-abedian-family-line-up-next-gold-coast-apartment-development-after-multiple-site-acquisitions">Urban revealed they bought earlier this year</a>.

The $580 million plans are for 115 two, three, four and five-bedroom apartments.

Read more: <a href="/news/qld/first-look-exclusive-abedian-family-reveals-broadbeach-apartment-plans">First look exclusive: Abedian family reveal Broadbeach apartment plans</a>

<a href="/news/qld/first-look-exclusive-abedian-family-reveals-broadbeach-apartment-plans"><img alt="Abedian" data-entity-type="file" data-entity-uuid="69db548c-c68f-4eed-aa22-17814bb355b5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-31%20at%2012.34.49%E2%80%AFPM.png?VersionId=3E1infqUiFH.nCJ.EOBauJtZuzOyeLeM" /></a> 
The Mary Avenue tower by Abedian &amp; Co. Image credit: BDA

Serial Gold Coast developer Marquee launched its penthouse collection atop La Belle, it's luxury Palm Beach development that is over 70 per cent sold.

The Penthouse Collection includes 10 sub penthouses and the sprawling five-bedroom Grand Penthouse.

The Grand Penthouse offers 520 sqm of internal living space and a further 162 sqm of external area. It has five&nbsp;bedrooms, four and a half bathrooms, a multi-purpose room, and four car parks, along with an indoor cinema, wine display, a large home office, and a feature fireplace,&nbsp;

The subpenthouses are a mix of three and four-bedroom apartments. The three-bedroom sub penthouses start from $4,125,000 and the four-beds from $7.5 million.&nbsp;

Construction recently kicked off on the&nbsp;<a href="/new-apartments/la-belle-palm-beach-332-the-esplanade-palm-beach">14-level building</a>&nbsp;with 75 apartments. Completion is slated for Q2 2026.

Read more:&nbsp;Marquee launches exclusive penthouse collection at La Belle Palm Beach

It was a relatively quiet month in the Gold Coast off the plan apartment market, with only a handful of new developments submitted to council, and another month of no new projects for buyers to choose from

City Beat November 2024: Gold Coast units continue to outperform houses

Melbourne's property market continues to trickle toward the bottom.

CoreLogic's Monthly Index showed both the house and unit market contracted in October. It was another month units (-0.1 per cent) outperformed houses (-0.2 per cent), but it was the first month since August that both dwelling groups were in the red.

The median value of a unit in Melbourne is now $613,000.

The decline in the property market in Melbourne is predominantly being driven by higher supply.

“Total listings are now 13.2 per cent above the previous five-year average in Sydney and 13 per cent higher in Melbourne,” CoreLogic Research Director Tim Lawless noted, helping to explain the weaker conditions in these markets as buyers benefit from more choice and less urgency in their decision making.

That's not the case in the off the plan market however, which is facing critically low supply.

While the property market in general in Melbourne continues to trickle toward bottoming out, the off the plan market might just be primed to see growth.

<h2>What happened in the Melbourne off the plan apartment market in October?</h2>

October may present the turning of the tide in the off the plan apartment market in Melbourne.

In the last week of the month, the Allan Government announced two new policies to stimulate new development across the city.

The first was the announcement that they were encouraging new apartment development&nbsp;<a href="/news/vic/50-new-train-and-tram-zone-activity-centres-to-encourage-new-apartment-development-across-melbourne">around 50 train and tram stations</a>.&nbsp;

Read more:&nbsp;<a href="/news/vic/50-new-train-and-tram-zone-activity-centres-to-encourage-new-apartment-development-across-melbourne">50 new ‘train and tram zone’ activity centres to encourage new apartment development across Melbourne</a>

The second announcement, days later, was to abolish stamp duty for all buyer types across all price points for 12 months.

Read more:&nbsp;<a href="/news/vic/vic-government-slashes-stamp-duty-for-off-the-plan-property-buyers-savings-available-immediately-oct-2024">VIC Government slashes stamp duty for off-the-plan property buyers - savings available immediately, Oct 2024</a>

Read more: <a href="/news/vic/the-shackles-are-off-what-the-abolition-of-stamp-duty-really-means-for-the-melbourne-new-apartment-market">"The shackles are off": What the abolition of stamp duty really means for the Melbourne new apartment market</a>

The news came in the last week of October, and since then three new developments have hit the market, one of them being <a href="/new-apartments/bright-brighton-34-black-street-brighton-brighton-vic-3186">Bright</a>, just six two, three and four-bedroom apartments in the heart of <a href="/developments/brighton-vic-3186">Brighton</a>.

Marshall White Projects has calculated buyers could save up to around $200,000 in stamp duty on the apartments since the Government policy kicked in.

[smartcode_project:default project_id=147778 project_image_fid=309650]

Marshall White Projects Director Leonard Teplin said the satmp duty abolition is&nbsp;a "game-changer for downsizers."

"They [downsizers] can now purchase high-end apartments&nbsp;or townhouses without the hefty stamp duty, making the transition more financially appealing," Teplin says.

"I expect to see a surge in downsizer activity, especially in premium inner-city and Bayside locations. This also has a dual benefit of encouraging downsizers to transition from the family home, and therefore, making more established housing available for family buyers."

Given the 12-month timeline on the stamp duty abolition, the expectation is that developments recently approved, or those that were paused and waiting for some sort of stimulus to improve the market conditions, will now launch.

<a href="/developers/time-place">Time &amp; Place</a> will no doubt be looking to get their <a href="/new-apartments/glen-iris-vic-3146">Glen Iris</a> mixed-use development into market sooner rather than later.

Their joint venture with Woolworths for a 60-unit project above a full-line Woolworths was approved late last month.

The five-level building, designed by <a href="/architects/cera-stribley-architects">Cera Stribley</a>&nbsp;at 173 Burke Road, is aimed at targeted at downsizers and young and multi-generational families.

<img alt="Glen Iris" data-entity-type="file" data-entity-uuid="88bbdec8-27ff-438a-af95-6e697e1c6176" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-11-01%20at%208.49.37%E2%80%AFAM.png?VersionId=Zm_nPk4jU7d.g4miCWhnzGEjH37r7j3j" />

Sales are also set to launch at GURNER's $1.7 billion Docklands precinct, Elysium Fields.

The first three towersm, that will house around 700 dwellings, have been designed as a futuristic wellness and anti-ageing utopia. The 27,000 sqm site at 208-226 Harbour Esplanade will house around 1,100 dwellings upon completion and will include around 3,700 sqm of immersive public landscapes and gardens.

Hamilton Marino has been appointed to build the first tower. Early construction works are expected to commence in the next four weeks, prior to the public launch of sales, which is earmarked for early next year. &nbsp;

Read more:&nbsp;<a href="/news/vic/sales-to-launch-at-gurners-1-7-billion-elysium-fields-precinct-in-docklands">Sales to launch at GURNER's $1.7 billion Elysium Fields precinct in Docklands</a>

<a href="/developers/sma-projects">SMA Projects</a> timed their launch back into the Melbourne off the plan apartment market perfectly.&nbsp;

They recently unveiled The Regent Fitzroy, a building that has been designed purposefully to reimagnie the former&nbsp;iconic Regent Theatre that once sat on the <a href="/developments/fitzroy-vic-3065">Fitzroy</a> Street site.

[smartcode_project:default project_id=24824 project_image_fid=304614]

<a href="/new-apartments/the-regent-fitzroy-340-fitzroy-street-fitzroy-vic-3065">The Regent</a>&nbsp;will comprise 64 one, two, and three-bedroom apartments starting from $725,000.

Read more:&nbsp;<a href="/news/vic/sma-bring-back-the-regent-theatre-heritage-in-fitzroy-with-latest-apartment-development">SMA bring back The Regent Theatre heritage in Fitzroy with latest apartment development</a>

<a href="/developers/sunkin-property-group">Sunkin Property Group</a> also revealed the latest stage of its Net Zero Highett community, <a href="/new-apartments/highett-common-37-graham-road-highett-vic-3190">Highett Common</a>.

The Mews Collection, the third stage of the 11-hectare masterplan, will comprise a trio of buildings with 185 apartments.

The apartments will feature&nbsp;floor-to-ceiling glazed windows, to take advantage of the views of the surrounding parklands, as well as all-electric kitchens with stone surfaces, Bosch appliances, and induction cooktops.

[smartcode_project:default project_id=108019 project_image_fid=300052]

The Mews Collection represents the first opportunity to buy at the luxury end of the market in the development.

The 12 apartments, dubbed the Luxury Collection are a step up in design, with&nbsp;Gaggenau appliances, herringbone timber flooring, marble benchtops, and advanced home automation systems that are integrated with the&nbsp;<a href="/developments/highett-vic-3190">Highett</a>&nbsp;Common Connect app.&nbsp;

Read more:&nbsp;<a href="/news/vic/sunkin-reveal-the-mews-collection-highett-commons-latest-release">Sunkin reveal The Mews Collection, Highett Common's latest release</a>

Read more:&nbsp;<a href="/news/vic/city-beat-september-2024-melbourne-property-market-hovering-around-the-bottom">City Beat September 2024: Melbourne property market hovering around the bottom</a>

Read more:&nbsp;<a href="/news/vic/city-beat-august-2024-is-melbourne-approaching-the-bottom-of-the-market">City Beat August 2024: Is Melbourne approaching the bottom of the market?</a> 
&nbsp;

While the property market in general in Melbourne continues to trickle toward bottoming out, the off the plan market might just be primed to see growth

City Beat November 2024: Melbourne off the plan market gets shot in the arm, but overall market downturn

The Abedian family has revealed what it is planning for its recently acquired <a href="/developments/broadbeach-qld-4218">Broadbeach</a> site.

The Abedian family, who founded and operated Sunland Group for four decades before closing its doors last year to operate as a private family business, secured adjoining sites from Little Projects and Bassar Group earlier this year.

They amalgamated several sites, totaling over 2,000 sqm across 14-20 Mary Avenue, opposite <a href="/developments/broadbeach-qld-4218">Broadbeach</a> State School. They're now planning a 47-level tower with 115 two, three, four and five-bedroom apartments designed by BDA.

The plans show the developer name as <a href="/developers/abedian-co">Abedian &amp; Co</a>, as opposed to <a href="/developers/arium">Arium</a>, the development name they had been using since closing down Sunland.

<img alt="Arium" data-entity-type="file" data-entity-uuid="5666ddf3-03f5-466b-988d-d0b38d7f69c4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-31%20at%2012.34.43%E2%80%AFPM.png?VersionId=k6UoOCRsv3.UOs8Axd8hYalPllbip3PA" />

BDA said in their design statement submitted to the Gold Coast City Council this week that the project offers the opportunity to "generate an elegant and curvaceous residential tower that will enhance the ever evolving Broadbeach skyline."

"As designed, the project will provide a memorable sculptural residential building."

True to what the Abedian's have produced before, the focus is on large-scale apartments. There are 28 two-bedroom apartments proposed,&nbsp;38 three-beds, each with either a study or a media room, 42 four-bedroom units with a media room, and seven five-bedroom apartments.

"The apartments provided are large liveable apartments that can cater for families and focus on maximising natural ventilation and natural light," BDA added.

Each apartment has a balcony that is designed to be operated as an outdoor living room.

The communal recreation facilities are proposed on the fourth and fifth levels, comprising a&nbsp;25m cantilevered lap pool, indoor and outdoor spas, a wellness centre with a gym, yoga room, treatment room, steam room, and a sauna. There's also a resident club room, lounge, a private dining room with separate kitchen, a theatre room, and a meeting room with work from home capabilities.

<img alt="Arium" data-entity-type="file" data-entity-uuid="1ac9b792-e824-499f-9e40-56f077fc846d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-31%20at%2012.32.31%E2%80%AFPM.png?VersionId=AnV9glW5UiOgtKn4m.saRarbiiT77Rrw" />

The apartments will have protected views of the beach and the ocean to the east, given the position next to Broadbeach State School.

The site is currently vacant, with the exception of a small two-level apartment building to the north. It is bounded to the north by a two-level residential apartment building with eight units, while to the south is another two-level apartment building with four units.

Arium has been busy since being founded by Soheil Abedian and his son Sahba. They paid over $40 million for the Greenmount Hotel in Coolangatta in 2021 and have gone through several iterations of the design. They&nbsp;<a href="/news/qld/first-look-exclusive-abedian-family-propose-second-stage-of-greenmount-beach-hotel-redevelopment">recently laid plans for the second stage</a> of the project.

They also have another site in Broadbeach at 11 Anne Avenue, bought earlier this year.

Read more:&nbsp;<a href="/news/qld/first-look-exclusive-abedian-family-propose-second-stage-of-greenmount-beach-hotel-redevelopment">First look exclusive: Abedian family propose second stage of Greenmount Beach Hotel redevelopment</a>

Read more:&nbsp;<a href="/news/qld/first-look-exclusive-abedian-family-go-again-in-broadbeach">First look exclusive: Abedian family go again in Broadbeach</a>

First look exclusive: Abedian family reveals Broadbeach apartment plans

DCF Property Group has celebrated the official sod-turning for its $180 million First Light development in South Melbourne's Domain Precinct.

The project, with a construction value of $75 million, will be delivered by Ironside, a renowned Australian builder specialising in high-end, large-scale developments.

DCF Property Group CEO, Calvin Huang, said the sod-turning&nbsp;marks a significant milestone for <a href="/developers/dcf-property">DCF</a> as they begin to turn their vision for <a href="/new-apartments/first-light-28-albert-road-south-melbourne">First Light</a> into reality.

“This project represents a major investment in Melbourne’s future, with long-term benefits in job creation, tourism, and economic growth," Huang said.

[smartcode_project:default project_id=2556 project_image_fid=299333]

There are to be 30 luxury apartments in the building, as well as the Nu By YOO luxury hotel. World-renowned designer Philippe Starck and international property entrepreneur John Hitchcox founded YOO in 1999.

First Light will also introduce world-class amenities including a wellness sanctuary and premier dining experiences designed by renowned restaurateurs Scott Pickett and Jason Lau.

&nbsp;

[smartcode_project:default project_id=2556 project_image_fid=299353]

Residents will also enjoy exclusive services through partnerships with luxury brands such as Space Furniture, which has curated the development’s interior furnishings.

First Light is due for completion in October 2026, with the hotel to begin operating shortly thereafter.

[smartcode_project:default project_id=2556 project_image_fid=299358]

Throughout the construction phase, First Light&nbsp;is expected to create 160 direct jobs, along with an additional 450 jobs across Victoria’s economy.

Upon completion, First Light, through its wide-ranging amenities, will provide 45 permanent jobs, with additional opportunities arising for contractors and suppliers, ensuring a continued positive impact on the local economy.

[smartcode_project_cta:default project_id=2556]

First Light is due for completion in October 2026, with the hotel to begin operating shortly thereafter

DCF Property break ground at First Light in South Melbourne, with Ironside appointed construction partner

Whether it's beachfront Manly or higher density in the growing activity zones of Crows Nest and St Leonards, Sydney's North Shore market is booming.

The market has been buoyed by a mix of record sales, low supply, and new transport connections thanks to the recent opening of the NSW Government's $21 billion Metro line that dissects the likes of North Sydney, Crows Nest, and Chatswood.

With only a few months left of 2024, we've looked ahead to 2025 as to what's set to come to the market in the North Shore.

<h2>Who: Cbus Property &amp; Galileo</h2>

<h2>What: East Walker Residences; 258 apartments</h2>

<h2>Where: North Sydney</h2>

<a href="/developers/cbus-property" target="">Cbus Property</a> and joint venture partner Galileo will take to market <a href="/new-apartments/east-walker-street-north-sydney-173-179-walker-street-north-sydney-nsw-2060">East Walker Residences</a>, their new <a href="/developments/north-sydney-nsw-2060">North Sydney</a> development in 2025.

The towers, designed by&nbsp;<a href="/architects/rothelowman" target="">Rothelowman</a>, will home 258 one, two, three and four-bedroom apartments on the prime 3,950 sqm site across&nbsp;173-179 Walker Street and 11-17 Hampden Street.

The tallest building will rise 30 levels and home 161 apartments, while the smaller building will have the remaining 67.

<img alt="First look exclusive: Cbus and Galileo revise plans for new North Sydney 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/Screenshot%202024-07-11%20at%204.47.10%E2%80%AFAM.png?VersionId=5Yoe1XDt4w_3flgagSB5ejSCn80ZksY_" />

There is a third building proposed on the large site, a small five-level building connected to Hampden House. That will have a handful of apartments and a rooftop lap pool.

The most recent application, lodged earlier this year, represents the latest iteration in the site's development, which has undergone two previous concept designs.&nbsp;

Local architecture and design firm fjmtstudio designed the 2022 plans, after SJB had had a crack on behalf of Avenor, who sold the site to CBUS and Galileo for around $150 million in 2021.

Read more: <a href="/news/nsw/first-look-exclusive-cbus-and-galileo-revise-plans-for-new-north-sydney-apartment-development-east-walker-street">First look exclusive: Cbus and Galileo revise plans for new North Sydney apartment development</a>

<h2>Who: One Global Capital</h2>

<h2>What: Over 300 apartments&nbsp;</h2>

<h2>Where: Macquarie Park</h2>

Iwan Sunito is lining up the first launch of his newly named development company,&nbsp;<a href="/developers/one-global-capital">One Global Capital</a>.

Sunito, who founded Crown Group, is taking what he knows to <a href="/developments/macquarie-park-nsw-2113">Macquarie Park</a>&nbsp;where he'll be launching a three-tower project at some point next year.

The buildings, across 7-11 Lachlan Avenue and 157-159 Herring Road, will home just over 300 apartments, as well as an activated street level with retail and hospitality venues.&nbsp;

<img alt="First look: Koichi Takada designs Iwan Sunito's One Global Residences development in Macquarie Park" 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%202023-02-22%20at%208.04.10%20am.png?VersionId=XQB9iWbH6rsjNb7jqQrOqyQfQmbFdXW5" />

There will be 35 studio apartments, which take up just over 10 per cent of the building. The majority of apartments will be two-bed (149 apartments, 49 per cent), while there will be 60 one-bed and 60 three-bed dwellings (20 per cent).

There will be a handful of 'Plus' apartments, which will feature a dedicated study space, responding to the rising trend of working from home.

One of the towers will feature a range of amenities, including indoor and outdoor recreation spaces and a swimming pool, set in landscaping and rooftop gardens. There will be play areas for children and barbecue areas.

Read more: <a href="/news/nsw/first-look-koichi-takada-designs-iwan-sunitos-one-global-residences-development-in-macquarie-park">First look: Koichi Takada designs Iwan Sunito's One Global Residences development in Macquarie Park</a>

<h2>Who: Deicorp</h2>

<h2>What: 129 apartments</h2>

<h2>Where: Crows Nest</h2>

Earlier this year&nbsp;<a href="/developers/deicorp">Deicorp</a>, one of Sydney's most active apartment developers, secured approval for its 16-storey mixed-use project at the Five Ways Junction in&nbsp;<a href="/new-apartments/crows-nest-nsw-2065">Crows Nest</a>.&nbsp;

Dubbed <a href="/new-apartments/falcon-alexander-8-alexander-street-crows-nest">Fiveways</a>, the 16-level building will home 129 apartments designed by <a href="/architects/turner-studio">Turner Studio</a>.

<img alt="Deicorp secure gazettal approval for Fiveways Junction, Crows Nest " 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/Crows%20Nest%20Fiveways%20Junction.png?VersionId=xRkakwgnaF87Ptzz0AfySNqAz1RCYJ3x" />

The first three levels of the project will be a podium with 8,000 sqm of commercial space. The seven basement levels will home 247 car spaces.

The project, at 391-423 Pacific Highway, is located just minutes from Crows Nest Metro Station.

Read more: <a href="/news/nsw/deicorp-secure-gazettal-approval-for-falcon-alexander-crows-nest-apartment-development">Deicorp secure gazettal approval for Fiveways Junction, Crows Nest</a>

<h2>Who: DARE Property Group</h2>

<h2>What: 27 apartments</h2>

<h2>Where: Mosman</h2>

The Avidan family is back at it, this time debuting in Sydney's Lower North Shore.

<a href="/developers/dare-property-group">DARE</a> Property Group, led by developer Danny Avidan, is set to bring in a new era of shoptop housing to the Lower North Shore's most affluent suburb.

Earlier this year DARE secured a prime 1,286 sqm, triple site at 696, 700 and 706 Military Road, in the heart of Mosman.

The site will soon be home to a fresh new building designed by <a href="/news/dko-architecture-on-the-changing-face-of-hotel-design" target="">DKO Architecture</a>&nbsp;who says the proposal considers Mosman’s eclectic character, materiality and colour along Military Road and heritage surrounds.

<img alt="First look exclusive: Established luxury developer Dare Property Group plants a flag in Mosman" 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%202024-07-24%20at%202.54.16%E2%80%AFPM.png?VersionId=LQ_0CayuBOGvWGXxM8yTubG8eWuwLjyU" />

The plan is for 27 apartments above a revived street-level retail. There will be one, two and three-bedroom largescale apartments on offer.

The apartments wrap around a central courtyard which DKO says is a key feature for the project and a point of difference for the development's community.

Read more:&nbsp;<a href="/news/nsw/first-look-exclusive-established-luxury-developer-dare-property-group-plants-a-flag-in-mosman-with-twenty88">First look exclusive: Established luxury developer Dare Property Group plants a flag in Mosman</a>

<h2>Who: Time &amp; Place</h2>

<h2>What: 24 apartments</h2>

<h2>Where: Manly</h2>

Sydney and Melbourne property developer, <a href="/developers/time-place">Time &amp; Place</a>, will be looking to launch its luxury Manly development to the market next year, having been given the green light earlier this year.

They have approval for a five-level,&nbsp;$100 million development with 24 apartments at 35-43 Belgrave Street, near&nbsp;<a href="/developments/manly-nsw-2095">Manly</a>&nbsp;Beach.

<img alt="Time &amp; Place secure approval for debut Manly 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/Screenshot%202024-08-01%20at%205.54.05%E2%80%AFPM.png?VersionId=Tgoo6de3Le85JR4ME16LBfSnADCVnuJ6" />

Designed by <a href="/architects/sjb-architects">SJB Architects</a> to target local downsizers and rightsizers, the development primarily aims to appeal to residents who have lived in Manly for many years and want to stay in the suburb.

The two and three-bedroom apartments will sit above ground-floor retail. Time &amp; Place is currently in active conversations with a local favourite retailer to occupy the ground floor retail space.

Read more:&nbsp;<a href="/news/nsw/time-place-secure-approval-for-two-tides-manly-apartment-development">Time &amp; Place secure approval for debut Manly apartment development</a>

<h2>Who: PB &amp; Co</h2>

<h2>What: 10 apartments</h2>

<h2>Where: Kurraba Point</h2>

Luxury Melbourne developer,&nbsp;<a href="/developers/pb-co">PB &amp; Co</a>, will also make its Sydney debut next year, on arguably one of the best development sites in the North Shore.

In 2021 they secured a prime waterfront site at 184b-190 Kurraba Road,&nbsp;<a href="/developments/kurraba-point-nsw-2089">Kurraba Point</a>,&nbsp;before engaging&nbsp;renowned architect Koichi Takada put plans together for just 10 residences across the 4,200 sqm block which slopes down to the water.

<img alt="First look exclusive: PB &amp; Co reveal Koichi Takada plans for &quot;one-of-a-kind&quot; Kurraba Point 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%202022-11-14%20at%2010.16.29%20am.png?VersionId=5OF3ypWPmVeWBJMhSni1fwX4x0Xao0sS" />

There will be just six luxury apartments, four three-bed and two four-bed apartments, on the street side of the block. They've been tiered to overlook Shell Cove. Then closer to the water will be four dual occupancy residences.&nbsp;

A conscious effort has gone in for the project to be highly sustainable. Not only has the project been designed carbon neutral, but it will operate carbon-neutral too.&nbsp;

"This project will lead the way in the luxury housing market and support the New South Wales state government objective to achieve carbon neutrality by 2050," Michael Pesochinsky, co-founder of PB &amp; Co., told Urban.

Read more:&nbsp;<a href="/news/nsw/first-look-exclusive-pb-co-reveal-koichi-takada-plans-for-one-of-a-kind-kurraba-point-development">First look exclusive: PB &amp; Co reveal Koichi Takada plans for "one-of-a-kind" Kurraba Point development</a>

<h2>Who: Coronation Property</h2>

<h2>What: 130 apartments</h2>

<h2>Where: Chatswood</h2>

Prominent Australian builder-developer,&nbsp;<a href="/news/coronation-property-launches-its-first-release-in-merrylands-development-mason-main" target="">Coronation Property</a>, is expected to launch its new $200 million&nbsp;mixed-use development in Chatswood next year.

Located at 57-61 Archer Street, the site sits in the centre of the suburb and across the road from key amenities including Westfield Chatswood and Chatswood Chase.

<a href="/news/coronation-property-launches-its-first-release-in-merrylands-development-mason-main" target="">Coronation Property</a>&nbsp;will utilise the connected site to deliver a mixed-use precinct with around 2,000 sqm of retail space and 130 apartments.

[smartcode_project:default project_id=29796 project_image_fid=267349]

On the site acquisition back in 2022,&nbsp;Coronation's&nbsp;Head of Urban Transformations,&nbsp;Aras Labutis, said the purchase represented an important milestone for the company as they continue to focus on mixed-use sites around Sydney.

“The Chatswood site presented a unique opportunity for Corontion Property to contribute to what we see as one of Sydney’s fastest-growing precincts,"&nbsp;Labutis said.

"With the State and&nbsp;<a href="/developments/willoughby-nsw-2068">Willoughby</a>&nbsp;Councils committed to further developing Chatswood as a major employment and residential hub, we are excited to respond to the demand for more housing in the area and build upon an already highly sought-after community.”

The top seven new North Shore apartments expected to launch in 2025

Developers are continuing to spend considerable money on prime beachfront development sites in the Gold Coast.

The biggest settled site sales so far this year have been on the Surfers Paradise dress circle, where KTQ received approval for Seren, a mixed-use, luxury hotel and branded residence building at 27 Garfield Terrace.

They sold that 2,025 sqm site, with plans for 60 hotel rooms and 60 luxury apartments above, starting at 350 sqm, for $56 million to a company linked to Hong Kong interests.

Sydney developer Luxcon also has offloaded the building Seabreeze, on a 1,011 sqm at 63 Garfield Terrace where they were planning Escape, a 35-level tower with 31 whole-floor apartments. Winx breeder John Camilieri paid $37 million for the site.

Sydney billionaire Sam Arnaout's Iris Capital still holds 900 sqm and has <a href="/news/qld/iris-capital-secure-garfield-terrace-apartment-approval">approved plans</a> for a 38-level, 51-unit tower.

<img alt="Seren" data-entity-type="file" data-entity-uuid="114adb16-45d8-46d6-b3a5-a3373dce7cda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-29%20at%202.49.10%E2%80%AFPM_0.png?VersionId=B8zwvpgxFJyq7yZ9nEhTy4w8Njboxdqi" />A render of Serēn.

&nbsp;

<figure>&nbsp;</figure>

The latest Colliers Apartment Market Report shows a surge in demand for premium beachfront residential development opportunities across the Gold Coast, with several transactions already exceeding $30 million in 2024.

“Despite market challenges, demand for premium sites has remained remarkably resilient,” said Troy Linnane, Director of Collier’s Residential.

“These high-quality sites are offering end values that continue to support necessary returns for project feasibilities, making them incredibly attractive investments.”

Colliers Gold Coast notes there has been no sign of a decline in site values, underlining the strength and confidence in this sector.

The appetite for luxury, owner-occupied properties in sought-after beachside locations continues to underpin the region’s market activity, demonstrating that the allure of the Gold Coast remains undiminished.

<img alt="Gold Coast" data-entity-type="file" data-entity-uuid="87da824a-a348-4f72-9c8e-31710f5fd25d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-25%20at%208.29.12%E2%80%AFAM_2.png?VersionId=BbpziWH4AVEeLZqZvLgnQ1aWg5EhWyzf" />

Developers are increasingly recognising the strategic advantage of bringing construction in-house, a trend identified in the Colliers Apartment Market Report as essential for managing timelines and costs amidst ongoing constraints in external builder capacity.

This move has proven critical in delivering projects on time, with many developers leveraging their in-house capabilities to stay ahead in an industry facing an unprecedented capacity crunch.

The report predicts that the demand-supply imbalance will persist into 2025, further driving gross realisations across the market.

The dwindling supply of new units presents developers with a unique opportunity to meet demand, particularly for properties under the $2 million mark that cater to a broader buyer pool.

“Local developers who have the experience and build solutions in place are particularly well-positioned to capitalise on these opportunities,” said Jackson Robinson, Residential Executive at Collier’s Gold Coast.

“The ability to deliver viable, premium products at a range of price points is proving to be a competitive advantage in the current market, especially as the constraints on builder capacity are expected to continue 
into the new year.”

First look: KTQ sell Garfield Terrace site for $56 million as demand soars for Gold Coast beachfront sites

The Abedian family is getting closer to finalizing plans for its&nbsp;new apartments on the site of the former Greenmount Beach Hotel.

The Abedian's, under their new development company Arium, spent $42.1 million on the&nbsp;amalgamated 7,071 sqm block, bordering Marine Parade, Eden Avenue and Hill Street, back in 2021, before going into planning mode for the prime site which sits between Rainbow Beach and Greenmount Beach and offers never-to-be-built-out views over the sand.

They're subdividing the site, and will deliver the projects in two stages. The first application came in 2023 when they submitted a plan for a 16-level tower with 54 apartments designed by Contreras Earl Architecture.

<img alt="Contreras" data-entity-type="file" data-entity-uuid="71b7bba5-2adb-418a-83bc-e2031975ebed" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-28%20at%202.42.42%E2%80%AFPM.png?VersionId=brdiy5HM_TdBE2LTzE30XZe0WJlB3RYx" />The former plans by Contreras Earl Architect on the northern section of the site

Those plans were superseded earlier this year when Arium had&nbsp;111 Design Studio completely redesign the development, proposing two 14-levels with 63 apartments fronting Marine Parade.

Now, sticking with 111 Design, Arium has submitted plans for the 2,580 sqm section of the site that fronts Eden Lane. The plans are for two eight-level buildings with 45 apartments, made up of 14 two-bedroom apartments and 31 three bedrooms.<img alt="Rainbow" data-entity-type="file" data-entity-uuid="79c5bad7-8de1-4942-8336-0302f6624fd2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-28%20at%201.47.32%E2%80%AFPM.png?VersionId=dWSOdM2a1rMiEbubhQgAZ727wG8QPmAi" />The new plans by 111 Design Studio

The Town Planning Report by Zone Planning said the&nbsp;architecture of the buildings has been carefully curated having regard to the built form, scale and appearance of the two towers on the northern side of the site.

"The proposed towers incorporate the same high-quality concave balustrades and wrapping balconies that project from the corners of the building, the report noted.

"These feature elements give the buildings’ shape, introduce shadow play and visual depth to the elevations. The clear balcony glazing promotes through the edges of the buildings’ which reduces perceived building bulk and the potential for overbearing form/scale."

The 78 parking spaces will sit across two basement levels. The ground level communal area facilities will comprise&nbsp;a water feature, lounge areas, outdoor BBQ areas, lawn terraces, lounge areas, a gym, and extensive landscaping.

One of the rooftops will have&nbsp;lawn terrace areas, kids play area, fire pits, breakout spaces, terrace seating and communal vegetable gardens, while the other building has upper and lower levels that will home&nbsp;lawned areas, communal vegetable gardens, fire pits, a swimming pool, a sauna, and a spa.

<img alt="Eden" data-entity-type="file" data-entity-uuid="cfa3ab98-61fd-499f-8e8d-286e7de37150" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-28%20at%203.03.33%E2%80%AFPM.png?VersionId=3b8ZyNQNU.nqf2kPWzolncaEVlPTd5zs" />

The Abedian family shut down Sunland and started Arium.

The developer has since bought two adjoining sites in Broadbeach, from Little Projects and Bassar Group.

They then secured a&nbsp;516 sqm site at 11 Anne Avenue from Di Carlo Property Group.

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