<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=365684]

Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

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Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

[smartcode_project:default project_id=509 project_image_fid=365689]

The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

[smartcode_project_cta:default project_id=509]

Joel Robinson

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

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MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

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Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

Construction is set to begin at <a href="https://www.apartments.com.au/new-townhouses/orchard-mews-glen-iris-18-scott-grove-glen-iris-vic-3146">Orchard Mews</a> in Glen Iris, with&nbsp;PC Whitehall &amp; Sons&nbsp;now appointed as the townhome development moves into its next phase.

The development by&nbsp;<a href="https://www.apartments.com.au/developers/montcoeur">MontCoeur</a>,&nbsp;located at 18 Scott Grove, is now around 30 per cent sold, with completion targeted for late-2027.

Orchard Mews comprises a curated collection of three- and four-bedroom customisable townhomes, positioned within one of <a href="https://www.apartments.com.au/developments/glen-iris-vic-3146">Glen Iris</a>’ more tightly held residential streets. The low-density project has been designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo</a>, bringing together a team known for high-end residential projects across Melbourne.

[smartcode_project:default project_id=150128 project_image_fid=366285]

The development is defined by its focus on flexible living and long-term usability. Each residence includes multiple living zones and a customisable multipurpose room, allowing buyers to tailor spaces to suit changing needs, whether as a home office, additional bedroom, wellness area or entertainment space.

Architecturally, the townhomes emphasise natural light and spatial volume, with dual-aspect layouts and double-height living areas incorporated into the design. Interiors feature natural stone benchtops, premium appliances, and a neutral material palette intended to support everyday functionality rather than statement-driven finishes.

All residences are all-electric and include private lifts and secure double garages, reflecting a broader shift toward sustainability and future-focused housing in Melbourne’s established suburbs.

[smartcode_project:default project_id=150128 project_image_fid=366277]

Outdoor connections are also central to the offering, with a mix of private courtyards and terraces extending internal living spaces and integrating with the landscaped surrounds.

The Scott Grove address places Orchard Mews within close proximity to some of Melbourne’s key lifestyle and education amenities, including Scotch College, Sacré Cœur, Cabrini Hospital and the retail hub of Chadstone. Public transport access is also nearby, with trams and Gardiner Station providing connectivity to the CBD and surrounding suburbs.

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Construction to commence at luxury Glen Iris townhome project, Orchard Mews

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?

It was just over a year ago that Ellipse Property Group announced it had received approval for one of the largest, and greenest, masterplanned developments in the booming Castle Hill.

Since then, they've launched the first stage, <a href="/new-apartments/carrington-place-castle-hill-36-carrington-road-castle-hill">Atrium</a>, sold half of its apartments, and begun groundworks after demolishing the previous buildings on the expansive 3.2-hectare site in the rapidly growing Showground Precinct.

Atrium comprises 147 apartments and sits as the gateway building to nature-fuelled masterplan that has over 30 per cent of site coverage dedicated to green open spaces.

[smartcode_project:default project_id=89496 project_image_fid=216770]

Ellipse Head of Development, Nigel Farquhar, said buyers have responded well to the design and amenity put into the apartments.

"Owner-occupiers have jumped at the opportunity to be a part of what is likely to be the greenest community to be produced in <a href="/developments/castle-hill-nsw-2154">Castle Hill</a>," Farquhar says, adding the team is seeing significant interest in the upper end of the market.

While generally downsizers are happy to wait for construction to be further advanced so they have more firm timelines to get their affairs in order and sell their current home, Farquhar says that hasn't been the case for some purchasers at Atrium.

[smartcode_project:default project_id=89496 project_image_fid=216765]

Downsizers, in particular, have been drawn to the design, finishes, and spacious layouts we offer, as well as the unique opportunity to collaborate with Ellipse's design team to alter floor plans at this early stage of construction,” says Farquhar.

“They are confident in committing, knowing that Ellipse is the developer and Decode, a gold star iCIRT-rated builder, is behind the project. They recognize the distinctiveness we’re offering and don’t want to risk missing out on the one-of-a-kind layouts available at this stage.

Farquhar notes that the architecture by Stanisic Architects and Tony Owen Partners, along with the masterplan’s landscape design by Site Image, has been a major drawcard for buyers.

“Ellipse’s design team, led by Associate Director Puja Khanna, recently refined some of the designs for the upper levels and penthouses. These updates were soft-launched and received a strong market response, with one penthouse being reserved at the early stage of hand sketches,” Farquhar says.

[smartcode_project:default project_id=89496 project_image_fid=216764]

Many apartments in Atrium are tailored to suit downsizers or right-sizing owner-occupiers, featuring expansive internal spaces that open onto generously sized balconies or garden courtyards.

A factor for these buyers has been the abundance of nature and space at Carrington Place, with over 20,000 sqm of recreational space and the one-kilometre boardwalk along Cattai Creek that connects the precinct to the nearby Fred Caterson Reserve.

Farquhar explains that future stages—of which there will be five—are designed to attract a broader range of demographics into the masterplan.

“The next stage will feature more diverse apartment configurations that will appeal to first home buyers and investors, while the current stage is primarily attracting owner-occupiers," he says. "There’s a significant demand for this type of product, but there isn’t much available on the market."

[smartcode_project:default project_id=89496 project_image_fid=216769]

Farquhar highlights that the new metro line has been a game-changer, particularly for investors. “The fundamentals haven’t been favourable for investors in recent years, as seen by the decline in investor activity across Greater Sydney and Australia. However, the shortage of rental apartments in the area, combined with the new metro opening, which provides young professionals with easy access to the city, is expected to offer investors a strong yield."

The new Hills Showground Metro will transport Castle Hill residents to Barangaroo in just 33 minutes.

<a href="/developers/ellipse-property-group">Ellipse Property Group</a> currently has two projects on the market: <a href="/new-apartments/carrington-place-castle-hill-36-carrington-road-castle-hill">Carrington Place</a>, featuring over 750 units, and <a href="/new-apartments/east-cowper-granville-2-6-cowper-street-granville">East and Cowper</a>&nbsp;in <a href="/developments/granville-nsw-2142">Granville</a>, offering 264 units. The group maintains a robust development pipeline with plans to deliver more than 1,000 homes in the next few years.&nbsp;

Ellipse is planning to release the second stage of the Carrington Place masterplan early next year, with <a href="/builders/decode">Decode</a> already on-site at Carrington Place, aiming to complete Atrium by late 2025. The entire masterplan is expected to be finalized by 2032.

&nbsp;

[smartcode_project_cta:default project_id=89496]

Farquhar explains that future stages—of which there will be five—are designed to attract a broader range of demographics into the masterplan

Inside the first stage success of Ellipse's $850 million Castle Hill masterplan, Carrington Place

<a href="/developers/coronation-property">Coronation Property</a> has launched the final apartments and terraces in the first stage of its unique multi-residential development in Sydney's inner west.

The $200 million <a href="/new-townhouses/ashbury-terraces-ashbury-165-171-milton-street-ashbury">Ashbury Terraces</a> offers something unseen before in the heritage suburb of <a href="/developments/ashbury-nsw-2193">Ashbury</a>, just past Dulwich Hill and south of Ashfield where there has been little to no new development in decades. That's because the majority of Ashbury is designated as a heritage conservation area, and is dominated by post-war brick bungalows.&nbsp;

There are so few development opportunities in the suburb that is only home to 3,000 people.&nbsp;

Designed by Coronation's longterm architecture partner <a href="/architects/sjb-architects">SJB</a>, Ashbury Terraces comprises 59 garden terraces and 68 premium apartments, as well as three penthouses.

[smartcode_project:default project_id=112253 project_image_fid=294597]

The one-bedroom apartments are considered, with a separate study nook positioned off the open-plan living spaces. The one, two and three-bedroom apartments feature integrated Fisher &amp; Paykel appliances and north-facing balconies.

The two and three-bedroom apartments have private balconies for each bedroom. Their balconies overlook The Garden, a private green space with landscaped pathway central to Ashbury Terraces, as well as the neighbouring W H Wagener Oval.

[smartcode_project:default project_id=112253 project_image_fid=294593]

The Terrace Collection features multi-level garden homes with three bedrooms, two bathrooms, and two parking spaces. These terraces are characterised by open atriums, skylights, private rooftop retreats, and spacious backyards and courtyards.

The development also includes several amenities for residents, such as a heated pool, outdoor dining spaces with barbeque facilities, a fully equipped gym, and access to electric car chargers.&nbsp;

with barbeque facilities, a fully equipped gym

[smartcode_project:default project_id=112253 project_image_fid=294629]

The first stage of Ashbury Terraces is now topped out and is expected to see residents move in by Christmas.

The second stage of the development, which has already commenced construction, is slated for completion in late 2025.

[smartcode_project_cta:default project_id=112253]

The first stage of Ashbury Terraces is now topped out and is expected to see residents move in by Christmas

Coronation Property release final residences in first stage of Ashbury Terraces as buyers eye Christmas move-in

Brisbane's apartment and townhouse market hasn't seen a boom like it is currently witnessing for nearly four decades.

It was 1988 the last time the Brisbane unit market was performing better than it is so far in 2024.

Data gathered by Urban from property data analytics firm, CoreLogic, showed that, following a 1.8 per cent jump in unit values in July, Brisbane's unit market is now 12.8 per cent up over 2024 to August.

Units have already grown at a higher rate than the whole of 2023 (12.5 per cent), and in another two months will surpass the boom in 2021 (14.3 per cent).

Back in 1988, growth over the first seven months of the year was 16 per cent.

The 2024 boom has seen the median value of units across Brisbane soar from $561,000 to $638,000, surpassing&nbsp;<a href="/developments/melbourne-vic" target="">Melbourne</a>&nbsp;and Canberra to become the second most expensive capital city unit market in the country.

At the current trajectory, Brisbane units are primed for over 20 per cent growth in 2024, which would take the median unit value to nearly $700,000.

The boom in the unit market has been a lack of supply across the whole city. Brisbane is one of the most undersupplied markets in the country compared with the demand flooding into the Queensland capital, partly driven by the Brisbane 2032 Olympics, partly by the lifestyle benefits of South East Queensland that have been highlighted to the rest of the country since the onset of the pandemic.&nbsp;

The last few years have proved difficult for developers to get new apartment buildings out of the ground, with the majority of builders workbooks full as the government seeks to pour billions into infrastructure upgrades. That, paired with increased labour and material costs, has slowed down supply considerably.

There are some green shoots emerging, however, with construction costs stabilising and developers working toward a new normal.&nbsp;The supply of new apartments is looking a little healthier the deeper we get into 2024, with several major developments coming to market either later this year or early next.

<a href="/developers/kokoda-property" target="">Kokoda Property</a> recently unveiled <a href="/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe-qld-4005">Teneriffe Banks</a>, on the riverfront Skyring Terrace, which will deliver five buildings as part of the $1.5 billion masterplan. There will be 200 luxury apartments as part of the development, as well as&nbsp;Brisbane’s first Kimpton Hotel, a 200-plus-seat signature restaurant and bar, spa with multiple treatment rooms, a fitness centre, large-scale multi-purpose meeting and event spaces, as well as an open-air Garden Terrace complete with infinity pool, and a rooftop bar with Brisbane city views.&nbsp;

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="1073690d-30f0-456a-94bb-d2a2e6138e79" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-28%20at%2010.07.58%E2%80%AFAM.png?VersionId=5yEzIk0SWZ3Za8TOG3qzVJiQ5szezshn" />

Kokoda has sold over 80 per cent of the apartments in its nearby Milton development, Ruby Ruby, one of the only tower developments to launch in the whole of Brisbane in 2024.

Developer Sarazin had the one before that. They recently appointed Hutchies to build <a href="/new-apartments/murcia-residences-east-brisbane-9-overend-street-east-brisbane">Murcia Residences</a> and in July broke ground at the Overend Street site just 150 metres from The Gabba.

[smartcode_project:default project_id=135094 project_image_fid=214681]

Murcia Residences&nbsp;sits on the border of&nbsp;<a href="/developments/woolloongabba-qld-4102">Woolloongabba</a>&nbsp;and&nbsp;<a href="/developments/east-brisbane-qld-4169">East Brisbane</a>&nbsp;and has been inspired by the Spanish city of Murcia. It comprises 210 one, two and three-bedroom apartments in a Mediterranean-influenced building.

Crowning the building will be an&nbsp;<a href="/news/qld/the-top-10-best-apartment-rooftops-in-brisbane">impressive rooftop</a>&nbsp;with a&nbsp;heated infinity pool, cold and warm magnesium plunge pools, spa, sauna, bookable private dining room, work-from-home spaces, fully equipped gym and various outdoor alfresco BBQ areas.&nbsp;

[smartcode_project:default project_id=135094 project_image_fid=214685]

Sekisui House Australia is selling the final apartments in the penultimate stage of its $1 billion West Village community in West End. The Opulent Release features the four and five bedroom apartments atop towers UNO and DUO, which make up the <a href="/new-apartments/the-allere-collection-west-village-mollison-street-west-end">Allere Collection</a>.

Only one tower remains in West Village. <a href="/news/qld/first-look-exclusive-sekisuis-plans-for-west-village-final-tower-callista-on-park">Callista on Park</a> is expected to launch next year and will home <a href="/new-apartments/callista-on-park-west-end-49-mollison-street-west-end">just over 70 three and four-bedroom apartments</a>.

[smartcode_project:default project_id=114215 project_image_fid=207148]

Family-run developer Gardner Vaughan is consistently delivering apartments to the undersupplied market.

They'll finish both&nbsp;<a href="/new-apartments/estilo-on-the-park-chermside-81-kittyhawk-drive-chermside">Estilo on the Park</a> in <a href="/developments/chermside-qld-4032">Chermside</a>&nbsp;and <a href="/new-apartments/stonebrook-stones-corner-10-flora-street-stones-corner">Stonebrook</a> in <a href="/new-apartments/stones-corner-qld-4120">Stones Corner</a>&nbsp;in early 2025.

They have more supply coming, in <a href="/developments/nundah-qld-4012">Nundah</a>, where they have the mixed-use precinct <a href="/new-apartments/danby-lane-nundah-village-5-danby-lane-nundah">DANBY LN</a>, 84 apartments above extensive retail.

[smartcode_project:default project_id=114094 project_image_fid=249477]

There's plenty of activity in the affluent <a href="/developments/kangaroo-point-qld-4169">Kangaroo Point</a> where <a href="/developers/pikos-group">Pikos</a> is preparing to launch its second development in the riverside suburb. Having secured a string of sales at the relaunch of its River Terrace development <a href="/new-apartments/skye-residences-kangaroo-point-8-river-terrace-kangaroo-point">Skye Residences</a>, Pikos is soon to launch <a href="/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point">Gaia</a>, just 650 metres away.

Gaia will feature just over 200 two, three and four-bedroom apartments across two 15-level buildings at 108 Lambert Street, one of the best streets in Kangaroo Point.

The development site, unrepeatable in today's expensive land market, will carve out a whole acre dedicated to a community park.

Gaia residents will also have exclusive access to wellness&nbsp;amenities including a riverside pool and pool terrace, with hot and cold plunge pools, set amongst the landscaped gardens, as well as an indoor/outdoor gym, BBQ and outdoor dining, rooftop dining and garden workshop, yoga lawn and outdoor cinema, private dining room, and work-from-home lounge.&nbsp;

<img alt="Gaia" data-entity-type="file" data-entity-uuid="0761d537-6ceb-4f40-b324-9bc0e6f5b2c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-27%20at%203.40.13%E2%80%AFPM.png?VersionId=iNXc0tredew0jCmncN2MaQ.JRLuzKjbD" />

Kenlynn is also preparing to launch its Kangaroo Point development <a href="/new-apartments/130lambert">130Lambert</a>, named after its location just a few doors down from Gaia.

130Lambert, designed by Ellivo Architects, will comprise just 36 apartments with a rooftop pool and fitness zone.

Developer builder Mosaic Property also has a couple of projects in the cross hairs in Kangaroo Point, one on Linton Street, one row back from The Gabba.

The inner-city suburb of&nbsp;Spring Hill is also set for a refresh to its new apartment supply.

<a href="/developers/cbus-property" target="">Cbus Property</a>&nbsp;has just launched <a href="/news/qld/cbus-property-propose-sustainable-rothelowman-designed-brisbane-apartment-development">185 Wharf Street</a>, which has been some nine years in the making.

Cbus secured the prime 1,835 sqm site back in 2015. In 2022 they filed plans for a 30-level <a href="/architects/rothelowman" target="">Rothelowman</a>-designed tower with 125 two, three and four-bedroom apartments.

The all-electric building features a 1,000 sqm sub-tropical garden on level two, featuring a 20-metre open-air swimming pool, spa and sauna, gym, private dining space, lounge and landscaped open gardens with barbeque and children’s play areas.

<img alt="185 Wharf" data-entity-type="file" data-entity-uuid="e673ce8f-5138-4bf7-b6d9-94dc157cac3b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-27%20at%203.03.54%E2%80%AFPM.png?VersionId=I4bNfSJdEAaq1QsvkMl2vDHPOPfSQCTD" />

Franco Di Bartolomeo's <a href="/developers/dibcorp-properties">Dibcorp</a> will also be taking its redevelopment of the Spring Hill Hotel to market in the coming months.

Dibcorp, which sold out Bide Newstead before its completion last year, will be creating an 18-level mixed-use tower <a href="/news/qld/dibcorp-set-to-redevelop-former-spring-hill-hotel-into-apartment-development">above the former Spring Hill Hotel</a> that has fallen into disrepair in recent years.

Above the hotel, and new retail and commercial spaces, will be 126 two and three-bedroom apartments.&nbsp;Jeremy Gilmore at 360 Property will be handling the sales at <a href="/new-apartments/one-hundred-spring-hill">100 Leichhardt Street</a>.

An injection of supply is also expected at the start of 2025, around the same time most markets are expected interest rates to start coming down.

<a href="/developers/shayher-group">Shayher</a>&nbsp;is expected to launch the first stage of its 20-hectare mixed-use precinct, <a href="/new-apartments/bulimba-barracks-stage-1-167-apollo-road-bulimba">Bulimba Barracks</a>. Urban <a href="/news/qld/first-look-exclusive-shayher-group-file-for-first-stage-of-bulimba-barracks">revealed the plans</a> for the first stage when they hit council desks in May.&nbsp;

Shayher is first focusing on a 6,382 sqm block fronting Apollo Road in the northwest corner of the site. They're planning two low-rise apartment buildings with 69 apartments, separated by a laneway from the fabrication workshop which will be restored.

Harry Triguboff's <a href="/developers/meriton">Meriton</a>&nbsp;has plans in the city centre for nearly 800 apartments at <a href="/new-apartments/204-alice-street-brisbane">204 Alice Street</a>, a tower which will replace the old Gardens Apartments building directly across the road from the City Botanic Gardens.

<img alt="Meriton" data-entity-type="file" data-entity-uuid="551e964e-1fd2-4fbd-a3f6-585af070d55b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-27%20at%203.21.50%E2%80%AFPM.png?VersionId=Tjk0gGAt1OcvoeJEZ2xNDfL6Jx.BDwND" />

The $1.3 billion development on a 5,485 sqm site will also include a childcare centre, retail and food and beverage spaces, and communal open space facilities like swimming pools, an outdoor gym and play space on the level five podium level, before it gives way to the main tower structure.

Then there's the proposed 71-level tower at&nbsp;<a href="/new-apartments/25-mary-street-brisbane">25 Mary Street</a>, which would be <a href="/news/qld/inside-koichi-takadas-designs-for-one-of-brisbanes-tallest-apartment-towers">one of the tallest in Brisbane</a>. Plans by James and John Kaias's KS Property are for a <a href="/architects/koichi-takada-architects">Koichi Takada</a>-designed tower with 571 apartments.

Salter Brothers, the owners of Spicers Retreat, will be making its apartment debut in Brisbane with a <a href="/news/qld/first-look-exclusive-salter-brothers-plot-new-brisbane-apartments">new 17-level development in Upper Mt Gravatt</a>,&nbsp;while the likes of <a href="/developers/fortis">Fortis</a> and <a href="/developers/forme">Forme</a> have more boutique developments on the table in <a href="/developments/newstead-qld-4006">Newstead</a> and <a href="/developments/teneriffe-qld-4005">Teneriffe</a>.

At the current trajectory, Brisbane units are primed for over 20 per cent growth in 2024, which would take the median unit value to over $700,000

Brisbane units growing at fastest rate since 1988

Prolific property developer, ALAND, has brought yet another residential development to Sydney's western suburbs.

ALAND Founder and Owner Andrew Hrsto, along with Dr Andrew Charlton and Parramatta&nbsp;Lord Major Cr Pierre Esber, cut the ribbon on Paramount on Parkes, the latest in a long line of new apartment developments <a href="/builders/aland">ALAND</a> has delivered over the last two decades.

The $357 million, 46-level tower features 331 apartments and over 3,000 sqm of premium commercial space, cleverly located on the top five levels of the building.&nbsp;

[smartcode_project:default project_id=9187 project_image_fid=294800]

Dr Andrew Charlton praised ALAND for supplying exactly the type of high-quality homes that Parramatta needs to help drive the city’s future economic growth.

“We’ve got fantastic new transport infrastructure – from the light rail to the new Metro, wonderful new parks and recreation areas, the new pool and a new stadium,” Dr Charlton said at the ribbon cutting.

“What we need in this city is high-quality housing stock and we need it here in the CBD -- and that’s what you’ve provided. ALAND had the vision and the capability to create a building near public transport, in the middle of this thriving city – and that is what Australia needs right now."

<img alt="Hrsto" data-entity-type="file" data-entity-uuid="5a89bb70-5445-4002-8bb8-9039596de03c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Hrsto%20Parramatta.jpg?VersionId=8T4M9K7buOS11RCdL5dRxBKNdvfmbJHv" />Andrew Hrsto alongside Dr Andrew Charlton and Lord Mayor Cr Pierre Esber. Image supplied

<a href="/buildings/paramount-on-parkes-harris-park-14-20-parkes-street-harris-park">Paramount on Parkes</a>, which features amenities such as a swimming pool, landscaped gardens and a children’s play area, was named Best Mixed-Use Development in Australia at the prestigious 2023 Asia Pacific International Property Awards.

Parramatta Lord Mayor Cr Esber told the gathering that he would like to see many more buildings like Paramount on Parkes going up around the city in order to meet Parramatta’s current and future housing needs.

“There are only a few [construction] firms in Sydney that are capable of doing these projects and ALAND is one of them,” he said.&nbsp;

[smartcode_project:default project_id=9187 project_image_fid=294803]

Andrew Hrsto paid tribute to the entire ALAND team that has worked on Paramount on Parkes – the tallest structure in its 22-year history.

“I couldn’t be prouder of this building,” he said. “It’s a great achievement.”

Hrsto said putting his company’s name on the top of the building symbolised ALAND’s ongoing role in the development of Parramatta.

“This project is a centrepiece for ALAND, so much so that we will be moving our corporate headquarters here next year. That’s how committed we are to the future of Parramatta.”

ALAND has six display apartments to show prospective buyers.

Paramount on Parkes is expected to welcome its first residents next month.

[smartcode_project_cta:default project_id=9187]

Andrew Hrsto paid tribute to the entire ALAND team that has worked on Paramount on Parkes – the tallest structure in its 22-year history

ALAND opens Paramount on Parkes, Parramatta's new landmark apartment development

Rosella, the only new apartment development in Melbourne's&nbsp;<a href="/developments/murrumbeena-vic-3163">Murrumbeena</a>, is gathering significant traction in both its sales and construction.

Over half of the 70 apartments have already sold in the Rosella Street project by <a href="/developers/damgar-group">Damgar Property Group</a> which is slated for completion in late 2025.

<a href="/new-apartments/rosella-murrumbeena-50-rosella-street-murrumbeena-vic-3163">Rosella</a>, designed by <a href="/architects/cera-stribley-architects">Cera Stribley</a> and ideally located across the road from Hughesdale Station and Hughesdale Village, presents a rare opportunity to buy brand new in the south-east Melbourne suburb.

Only 100 new apartments were delivered between the 2016 and 2021 census, primarily due to a scarcity of development sites.

[smartcode_project:default project_id=142221 project_image_fid=288651]

<a href="/architects/cera-stribley-architects">Cera Stribley</a>&nbsp;crafted Rosella's facade to feature a combination of rough-cast concrete, dark terrazzo, and warm copper accents.&nbsp;

The idea was to mirror the curves of the underpasses at Hughesdale Station, while also using different materials and tones to differentiate the ground-level podium, which will be home to several commercial tenancies, with the residential component above.

The curved facade informs the interiors of each apartment, with visually appealing curved interior walls, a feature more commonly found in higher-end apartment developments.

[smartcode_project:default project_id=142221 project_image_fid=288652]

The apartments have open plan kitchen, living and dining spaces that open to large terraces.

At seven levels, Rosella will be one of the tallest buildings in the area, so Cera Stribley has created a communal rooftop space with outdoor kitchen and alfresco dining that will offer views over the neighbouring suburbs and back to Melbourne.

[smartcode_project:default project_id=142221 project_image_fid=288656]

Rosella residents will be on the doorstep of Hughedale Village which has several cafes, a wine bar, The O.C Public Bar and Hellenic Depot across the road.

Within a three-minute drive is Chadstone Shopping Centre, the biggest shopping centre in Australia.

Builder Markscon is progressing well with construction. Buyers are expected to move in before Christmas 2025.

[smartcode_project_cta:default project_id=142221]

&nbsp;

Rosella Murrumbeena apartments snapped up as construction advances

Diversified New Zealand developer&nbsp;<a href="/developers/safari-group">Safari Group</a>&nbsp;is expecting its newest apartment development to appeal to both locals and overseas investors, given its prime location on the fringe of Queenstown.

Safari Group is set to launch&nbsp;Mountain Oak Apartments in Frankton, just seven kilometres outside of Queenstown's centre and&nbsp;three kilometres from the airport.

Mountain Oak Apartments will have a mix of 141 one, two and three-bedroom apartments starting from NZ$639,000 (AU$586,000).

Residents of Queenstown, as well as local and overseas investors, are expected to show significant interest in the apartments that are located close to one of Queenstown's best ski slopes, The Remarkables.

Apartments start from 49 sqm and range in size to 249 sqm. There will be 36 one-bedroom and one-bedroom flexi apartments, 40 two-bedroom and two-bedroom flexi apartments, four three-bedroom apartments, three penthouses, and four private entry apartments.&nbsp;

Dual-key apartments from 74 sqm are also available. A dual-key apartment is legally one property held under one title, but they are actually two separate residences. There is a shared entryway but two separate front doors, providing an opportunity for double rental income.

Mountain Oak Apartments deliberately doesn't have extensive onsite facilities, knowing their likely usage is for ski holidays. The idea is to keep body corporate costs down for investors.

Architecture firm Studio 37 designed Mountain Oak Apartments.

Studio 37 Director,&nbsp;Gary Bickerton, said&nbsp;Queenstown’s beautiful environment is the inspiration for the design of the apartment building.

"The inspiration from the environment is reflected in the choice of natural colours and materials in the design of the building.&nbsp;The building design is derived from classic proportions, modulated to create a natural balance in the articulated facades.

"The master planning of the building allows the design of the apartment’s living spaces to have spectacular views of the surrounding landscape of Queenstown."

<img alt="Frankton" data-entity-type="file" data-entity-uuid="9b4c0033-d2ae-45d4-b3ea-2a05bf81e213" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-12%20at%202.54.06%E2%80%AFPM.png?VersionId=Y9YCJHiDxsgXEKjZlKhuWbbRm4_.Ah0C" />

Queenstown is a popular holiday destination year-round, but is busiest during the snow season, which runs from around mid-June to mid-September. Queenstown’s popularity means short-term visitor accommodations are in high demand, and Safari Group has calculated that the average annual gross return for a Mountain Oak Apartment running as a visitor accommodation is 7.43 per cent.

After New Zealand locals, Australians are the second most active buyers in the New Zealand property market. Of the 33,609 home transfers in the June 2024 quarter, 804 were to buyers who stated an overseas tax residency, according to Statistics NZ. Of the 804, 306 were from Australia.

There is no stamp/transfer duty for Australians to pay when they buy property in New Zealand, in comparison to the four per cent minimum they have to pay in Australia.

Safari Group was founded in the mid-1990s, and has since established a reputation for building some of New Zealand’s most prized mixed-use properties. Safari Group is still one of the only vertically integrated property developers, handling both the development and the construction process.

Safari Group has had success in Queenstown before, developing four mixed-use residential hotel properties in the area since 2016: the La Quinta, Wyndham Garden and two Ramada Hotel and Suites.

Safari Group Senior Development Manager, Josh Van Veen, said Queenstown is a place that is high on people’s travel lists, both from locals and those living internationally.

"Queenstown is the premier all-seasons visitor destination of the South Island,"&nbsp;Van Veen said.

"It peaks all year round in both winter for skiing and snowboarding, and summer for hiking, cycling and water sports."

Van Veen said the property market in Queenstown is always strong due to strong rental demand.

"There is a high tourist and residential living demand and a shortage of housing options, with a limited supply of stock for both renters and home buyers.

"There are lots of short-term visitors and long-term tourism workers always in the area looking for a place to stay or live.

"Queenstown properties generally give a good return on investment, so this is an opportunity for investors to either dip their toes into property investment or continue their investment journey and add another property to their portfolio."

Aussies drawn to Queenstown ski fields for affordability and investment potential

Gold Coast locals, alongside Sydney and Melbourne buyers, have jumped at the opportunity to be a part of an exclusive collection of apartments in one of Main Beach's newest developments.

It was only last month that <a href="/developers/drew-group">Drew Group</a> revealed the Signature Collection, just 12 sub penthouses and three luxury penthouses atop their two-tower development <a href="/new-apartments/lagoon-main-beach-11-23-cronin-avenue-main-beach">Lagoon Main Beach</a>, currently under construction by <a href="/builders/hutchinson-builders">Hutchinson Builders</a>.

They've already had several strong enquiries in the penthouse apartments, and three sub-penthouse sales, with all buyers coming from the local area.

"The unrepeatable nature of these apartments hasn't been lost on buyers," Drew Group Managing Director Jon Drew told Urban.

"It will be hard to replicate the sheer size of these apartments. No expense has been spared to create these luxurious sub-penthouses and penthouses. At this price point, it’s an opportunity that may never be repeated in a new Main Beach development."

The Sunrise and Sunset towers, standing at 32 and 24 levels respectively, offer sweeping views of the ocean, Broadwater, and Gold Coast Hinterland. The two towers, which are already 85 per cent sold through Pezet Matheson, feature 143 apartments in Sunrise and 116 in Sunset.

[smartcode_project:default project_id=108747 project_image_fid=284864]

The Signature Collection at&nbsp;<a href="/new-apartments/lagoon-main-beach-11-23-cronin-avenue-main-beach">Lagoon</a> incorporates the top four levels of the Sunrise building and just one exclusive level of the Sunset building. The apartments are anchored by a central kitchen with an integrated fridge and Gaggenau appliances, Vintec wine fridges, zip taps and a full-bodied waterfall edge natural stone island bench, forming the heart of the home.

The sub-penthouses, which are priced from $3.25 million, start from just over 200 sqm and have three bedrooms plus a multipurpose room, while the three dual-level penthouses from $5.95 million, range in size from 402 to 486 sqm and have four bedrooms plus a multipurpose room and a luxury bar area with a wine fridge.

The most impressive feature of the penthouses is the second level, accessed by a curved stairway. They include a master suite with balcony and ensuite, and a second living area that opens a private recreation deck with alfresco space, outdoor kitchen, and a plunge pool on a raised podium.

[smartcode_project:default project_id=108747 project_image_fid=293106]

Lagoon is strategically positioned in the heart of Main Beach on Cronin Avenue, a short walk to the bustling retail and commercial precinct of Tedder Avenue.

The area is undergoing a drastic transformation from a lifestyle perspective with the redevelopment of the Marina Mirage shopping precinct, the Manta Ray residential and commercial development and Ritz Carlton hotel among several other key developments that will put <a href="/developments/main-beach-qld-4217">Main Beach</a> on the world map. The focus in the residential development market has been on bespoke luxury, rather than the traditional high-rise developments that appeal more to the masses rather than the few.

That shift has primarily been driven by both interstate money flooding into the Gold Coast, but also the availability and cost of land given extraordinary demand for property in the region over the last few years.&nbsp;

[smartcode_project:default project_id=108747 project_image_fid=293107]

To put it into context, other developments either recently completed, under construction, or earmarked for development, are predominantly beachside and sit on sites no greater than 1,500 sqm. Lagoon sits on over 4,000 sqm, the largest site amalgamation in Main Beach since the 1980s.

Fully funded and slated for completion in late 2025, Lagoon will rise from the heart of Main Beach on Cronin Avenue.

The award-winning, <a href="/architects/plus-architecture">Plus Architecture</a>-designed towers are being built around a central lagoon pool and have a raft of other building amenities, from an exclusive podium-level resident’s entertainment lounge and garden with designer cooking stations and a fitness centre with an adjoining yoga terrace to a 24/7 network-connected boardroom and dedicated work spaces to meet the work from home lifestyle.

[smartcode_project_cta:default project_id=108747]

Fully funded and slated for completion in late 2025, Lagoon will rise from the heart of Main Beach on Cronin Avenue

Buyers snap up Drew Group's Signature Collection at Lagoon Main Beach

Willing Property has marked the construction of its latest Perth apartment development, West Residences in Mt Lawley.

A groundbreaking ceremony was attended by Minister for Housing, Hon. John Carey MLA, and Willing Property Founder Tim Willing to mark the start of construction that will be handled by Willing Property's inhouse building arm, Willing Build.

West Residences is set to be an iconic addition to <a href="/developments/mount-lawley-wa-6050">Mount Lawley</a>, designed in collaboration with acclaimed architects Klopper &amp; Davis and internationally renowned landscape architects CAPA.

They were inspired by the New York landmark the Flatiron building. <a href="/new-apartments/west-residences-mount-lawley-141-west-parade-mount-lawley">West Residences</a> will home 29 large-scale apartments atop a Willing Coffee shop on the ground floor.

[smartcode_project:default project_id=138755 project_image_fid=280579]

Three generations of the <a href="/developers/willing-property">Willing</a> family have resided in Mount Lawley, a suburb which Tim says he has a "life-long love for."

"I want to provide the opportunity for people to stay in an area they love, as well as give others the chance to move in and create family memories like the ones I've been fortunate enough to make.”

Tim said&nbsp;West Residences represents Willing's commitment to quality and design.

"We've paid special attention to every detail, ensuring each residence offers a unique living experience with all the modern conveniences. From the interiors to the views, West Residences is designed to provide an unparalleled living experience in Mount Lawley."

[smartcode_project:default project_id=138755 project_image_fid=280563]

Future residents of West Residences will benefit from the convenience of being just a short walk from Beaufort Street, a cycle ride to the river, or a short train ride to the city.

The apartments are designed in angular forms, resulting in a unique collection of residences. High 2.7m ceilings, thoughtful solar access and ventilation will create uplifting homes with a calming sense of space. Oversized private balconies extend the living areas outdoors, offering rare panoramic city, river and hill views.

Sam Klopper, Director of <a href="/architects/klopper-davis-architects">Klopper &amp; Davis Architects</a>, highlighted the distinctiveness of the project.

“Like New York’s Flatiron building, the site of West forms the junction between the orderly and the sublime," Klopper said.

"The avenues of Mount Lawley are crossed by West Parade, creating an opportunity to celebrate this contrast with a beautiful, angled form building.”

[smartcode_project:default project_id=138755 project_image_fid=280567]

West Residences adheres to 7-Star Nationwide House Energy Rating Scheme (NatHERS) performance criteria and will achieve carbon neutrality with standards that focus on the highest level of green rating. This includes a grid-connected solar PV system to deliver renewable power to all common amenities and EV charging.

West Residences is slated for completion in 2026.

[smartcode_project_cta:default project_id=138755]

Three generations of the Willing family have resided in Mount Lawley, a suburb which Tim says he has a "life-long love for."

Willing Property mark construction start of Mount Lawley apartment development, West Residences

Deicorp's Marquet &amp; Mary, the prolific developer's first apartment development in <a href="/developments/rhodes-nsw-2138">Rhodes</a>, has got off to a flying start.

They've just secured a record two-bedroom apartment sale for the suburb, with an 87 sqm apartment on the 30-th level of the 32-level tower selling for $1.72 million.

The price was driven both by the track record that Deicorp is bringing to Rhodes, and the sweeping views the apartment will offer.

[smartcode_project:default project_id=141515 project_image_fid=287870]

Interest in the project has been high since the unveiling of its display suite at suite 803/5 Rider Boulevard, Rhodes, less than 300 metres from the site of the development at 1-9 Marquet Street.

<a href="/new-apartments/marquet-mary-rhodes-1-9-marquet-street-rhodes-nsw-2138">Marquet &amp; Mary</a> offers a total of 212 apartments in a building designed by popular architect&nbsp;<a href="/architects/fk-australia">Fender Katsalidis</a>&nbsp;who were appointed after winning a design excellence competition last year.

[smartcode_project:default project_id=141515 project_image_fid=287857]

The tower's apartments range from one to three bedrooms, with views either towards the Sydney skyline to the east or the Blue Mountains to the west.&nbsp;

The apartments will sit above a four-level podium that will include commercial and retail space.&nbsp;Residents will also have access to a rooftop terrace and garden, as well as another courtyard garden.

[smartcode_project:default project_id=141515 project_image_fid=287863]

<a href="/developers/deicorp">Deicorp</a>&nbsp;has had overwhelming success at the first stage of its <a href="/news/nsw/melrose-central-apartments-fly-off-the-shelves-at-weekend-launch">other recently launched apartment development</a>, Melrose Central.

CBRE took 50 contracts over the first weekend of its launch.&nbsp;<a href="/new-apartments/melrose-central-melrose-park-33-hope-street-melrose-park-nsw-2114">Melrose Central</a>&nbsp;will deliver a new community in the heart of the new Melrose Park Town Centre, on the edge of the Parramatta River. It will comprise around 500 apartments set above 30,000 sqm of retail and commercial space.

[smartcode_project_cta:default project_id=141515]

Marquet & Mary offers a total of 212 apartments in a building designed by popular architect Fender Katsalidis

Deicorp set new Rhodes apartment record with Marquet & Mary sale

The shortage of new apartments in Melbourne has been well-documented in the last 12 months.

It's proving more difficult than anywhere else in the country to develop new projects.&nbsp;

Charter Keck Cramer Associate Director, Ben Carter, says&nbsp;the least discussed issue is how the cost of development is shaping the unit mix of the apartment supply pipeline.

"Charter Keck Cramer has observed, and in certain cases advised for, a reduced proportion of one-bedroom accommodation within upcoming apartment developments in Melbourne," Carter says, adding that the&nbsp;central constraint is the price ceiling of one-bedroom apartments and the associated inability to offset higher project costs.

"In short, prices of one-bedroom apartments cannot be increased to the same degree as other configurations due to the generally limited financial capacity of the purchaser and the ultimate rental value if intended for an investment," Carter suggests.

However, Charter Keck Cramer is expecting Melbourne’s established unit market will continue to recalibrate upwards over the next 12 months. With the upward&nbsp;recalibration, that will see the price gap between new and established apartments narrow, they anticipate an "elastic response in demand" for off the plan one-bedroom apartments at higher price points.

"At present, the gap between the price of off the plan one-bedroom product close to a project’s required blended rate (around $14,000 per sqm) versus established one-bedroom (and in some cases two-bedroom) units is too large to attract widespread purchaser demand," Carter says.

"Until such a time that pricing in the established market increases, the feasible delivery of one-bedroom apartments at higher values will remain challenged for many BTS projects."

Carter says in the meantime,&nbsp;projects that are well positioned to deliver competitively priced and well-designed one-bedroom apartments are expected to be met with market acceptance from a variety of purchasers and face little competition from new supply.

There is likely to be an increase in demand for one-bedroom apartments in the medium to long term, given more than 30 per cent of lone-person households&nbsp;occupy one-bedroom apartments across Melbourne.

"Assuming this propensity remains equal (which is conservative), this would equate to a need for an additional 30,000 one-bedroom apartments across metro Melbourne by 2031. By the same logic, couples will drive demand for an additional 20K one-bedroom apartments."

Carter says many recent projects are targeting downsizer purchasers with premium quality two and three-bedroom apartments that carry lofty price tags which leaves younger purchasers out in the cold.

"For younger purchasers, one-bedroom apartments often represent an affordable housing option in a less affordable location. This allows them to transition from share houses or the family home and benefit from the security of home ownership while not sacrificing proximity to lifestyle and employment opportunities.

"Many of these persons are finding themselves priced out of new projects, leading them to become increasingly active in the established market or choosing to remain on the sidelines, thus contributing to latent demand."

Carter believes there are opportunities for Government to step in.

"Delivering one-bedroom apartments is important to achieve various Federal, State and Local Government housing goals. This includes meeting overall dwelling targets (particularly within inner city locations) and providing a diversity of housing, as well as affordable and key worker housing."

He said more flexible planning policy would allow for more supply, as would the reintroduction of off the plan duty concessions and exemptions for investors and a reduction of foreign buyer levies.

"Property tax reform is an essential step to boost housing supply across Melbourne.

"There has been a marked decline in Melbourne’s apartment launches and subsequent completions since the abolition of investor stamp duty concessions and exemptions for off-the-plan properties (2017) and the increases to foreign investor surcharge (2016 &amp; 2019).

"Recent rises in construction costs and interest rates have only compounded this slowdown. Despite political reservations about investors, it is crucial to acknowledge their role in supporting new housing supply for Victorians. This cohort will drive sales (and rental supply) of new one-bedroom apartments due to the attractive yields and price points."

Charter Keck Cramer is expecting Melbourne’s established unit market will continue to recalibrate upwards over the next 12 months, and the price gap between new and established apartments will narrow.



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