For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

Joel Robinson

The inflation result the property market was waiting for

Commercial property group FiveX is doubling down on its move into the residential space.

The group, founded by Joshua and Marko Berger more than five decades ago, has followed up its plans for a 39-storey tower on North Sydney's Alfred Street with a proposed 61-storey tower in Chatswood.

The new tower at <a href="https://www.apartments.com.au/new-apartments/815-pacific-highway-chatswood-nsw-2067">815 Pacific Highway</a>, which would be one of the tallest proposed in Chatswood in recent years, will comprise 490 apartments, 76 of which will be dedicated affordable housing and managed by Evolve Housing for a minimum of 15 years.

The project will replace the long-standing Panorama Building, originally known as the BMA Tower, a 14-storey office building completed in 1972 and designed by Hungarian-born architect Hugo Stossel. At the time of its completion, the building was the tallest structure in Chatswood and became a local landmark due to its distinctive curved form and external glass lift.

<img alt="FiveX" data-entity-type="file" data-entity-uuid="956bd299-3864-47a0-8ea6-162b5524c5d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%201.02.03%E2%80%AFPM.png?VersionId=EWx7teUr7RcYrI9mgRytwppwt5AdUDtb" />

fjcstudio is behind the designs. Its Architectural Design Report argues the ageing commercial building no longer reflects Chatswood's role as one of Sydney's key strategic centres and that the site is ideally positioned to support significantly higher residential density.

"The site is located at the heart of Chatswood, within the TOD accelerated rezoning area that supports higher density development around the new Metro station," the report states.

"The site's role within a walkable 400-metre radius catchment is where housing, employment, retail and community uses are encouraged to cluster in support of transit-oriented living."

<img alt="fjc" data-entity-type="file" data-entity-uuid="8d198f5e-cc71-4175-9357-be6ec7207473" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%201.18.27%E2%80%AFPM.png?VersionId=5WUFc3IYBPvhQMBUYLCsjJhzdcVeYodE" />

The proposal has undergone two rounds of review by the NSW State Design Review Panel, with the design evolving through an extensive assessment process focused on design excellence, public realm outcomes, residential amenity and the integration of affordable housing.

fjcstudio says the residential component provides a diverse mix of apartment typologies, supporting a broad demographic and contributing to housing supply in a highly accessible location close to major transport, employment and retail infrastructure.

The application follows FiveX's plans for a 39-storey tower at <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">275 Alfred Street</a>, which it <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">submitted through the same NSW Government pathway</a> in December. That's for 184 apartments.

Recent activity in Chatswood includes Hyecorp launching its Archer Street project, Celine, and Develotek securing approval for a 34-storey tower.

First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans

Bridgewell Capital and SLD Development seem to be bullish on the Killara apartment market, filing plans for a second new development next to the Killara Golf Club.

The new plans are for 79 apartments across an amalgamated 4,989 sqm site on Buckingham Road.&nbsp;The project has been designed by BKA Architecture and is being assessed under the NSW Government's Low and Mid-Rise Housing and Infill Affordable Housing reforms. It is just 300 metres from&nbsp;Killara train station.

The majority of the apartments are three-bedrooms (46), with 23 two-bedroom apartments, seven one-beds, and three four-bedroom apartments. 17 of the apartments&nbsp;are proposed as affordable housing, representing 15 per cent of the project's gross floor area, allowing the development to access additional floor space and height incentives available under the NSW Housing SEPP.

There will be 131 resident and visitor car spaces, and more than&nbsp;1,450 sqm of communal open space. Landscaped areas would account for approximately 45 per cent of the site.

<img alt="Killara" data-entity-type="file" data-entity-uuid="75ef5ef7-a53b-4932-a8f1-38f63169eec9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%2011.04.00%E2%80%AFAM.png?VersionId=d_lG1A1StDaMQilljy25Fr8SF1BnAmKE" />

The site currently contains three detached dwellings and occupies a prominent position on the eastern side of Buckingham Road, with frontage to an area that has already begun transitioning towards higher-density housing. Existing apartment buildings of up to six storeys surround the site, while the Killara Golf Club forms its southern boundary.

The application has been lodged as a State Significant Development due to the affordable housing component and the scale of the project.

According to the design report, the proposal has been shaped by the area's evolving planning framework, which is encouraging greater housing density around transport infrastructure.

"The site sits along a growth area anticipated to undergo transformation in line with broader trends across New South Wales, driven by the implementation of the Low and Mid-Rise and Transport-Oriented Development State Housing Policies," the report states.

"Being within 800 metres walking distance to Killara Train Station, the project seeks to provide high-quality apartments designed for various family sizes, located in a vibrant landscaped setting."

The Upper North Shore suburb has become one of the most closely watched testing grounds for the NSW Government's housing reforms. A number of developers have moved quickly to consolidate sites around railway stations across suburbs including Killara, Lindfield, Gordon and Roseville, where the new planning settings are creating opportunities for apartment developments that would previously have been difficult to achieve.

The likes of Aqualand, Hyecorp, Holdmark and Vermont Property Group have projects in the region.

Bridgewell has several developments in the pipeline. Last September they submitted plans for <a href="https://www.apartments.com.au/news/nsw/bridgewell-capital-seeks-55-apartment-project-in-killara">55 new apartments</a> at&nbsp;23-25 Lorne Avenue in Killara, just the other side of Regimental Park from their new project. In May they filed for <a href="https://www.apartments.com.au/news/nsw/first-look-bridgewell-plots-120-apartments-and-childcare-centre-in-maroubra-town-centre">120 apartments in Maroubra</a>.

&nbsp;

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First look: Bridgewell, SLD Development double down on Killara Golf Club

Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.

The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.

The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.

Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.

The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.

Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.

The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.

"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

&nbsp;

Central Element seeks second Drummoyne apartment development

The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.

The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.

The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.

The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.

A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.

Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.

The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.

Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.

The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.

Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.

"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.

"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.

"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."

The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.

Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.

Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

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>

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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?

Hawthorn East is set to welcome a rare new apartment development with plans submitted to the Booroondora Council for a mixed-use building at 775 Toorak Road.

The $4.5 million plans, put forward by&nbsp;development management firm&nbsp;<a href="/developers/gaage-developments">GAAGE Developments</a>, are for a new six-level building with 22 one, two and three-bedroom apartments above two street-level retail spaces and one office tenancy.

The new building will replace a single-level, red brick home that dates back to the early 1960s, as well as two outbuildings.

Kings Lane Architects has designed the building with a combination of render and textured ribbed concrete finish, neutral earthy tones and extensive glazing.

<img alt="Toorak Road" data-entity-type="file" data-entity-uuid="fe749224-2e0c-42d5-98e0-fd000a9d1ad6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-06-19%20at%2010.23.51%E2%80%AFAM.png?VersionId=Bs4rpXODNUex8KKmrQyVJHDLcm4QWbfu" />

There will be five dwellings on each of the first to fourth floors, designed to optimise daylight access.&nbsp;

The sixth floor will house two larger apartments: a two-bedroom unit with a south-facing balcony and a three-bedroom plus study unit with a northeast-facing balcony.&nbsp;

The rooftop will offer a 94 sqm communal open space.

The development will also feature three commercial tenancies on the ground floor, two with frontages on Toorak Road and one accessed from the building’s central core.&nbsp;

<img alt="Toorak Road" data-entity-type="file" data-entity-uuid="3b603ef7-ea9e-4e45-94cb-e62a459d724b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-06-19%20at%2010.24.01%E2%80%AFAM.png?VersionId=PWY5C8c8hEdW3u3TWErQhrv8FrLeW1cq" />

Parking will be provided in a two-level basement, accommodating up to 34 vehicles, including two visitor spaces, through a mix of single spaces and double vehicle stackers.&nbsp;

The basement will also include individual storage lockers for residents and a bicycle parking room with space for 26 bicycles using a Ned Kelly rack storage system.

Residents will have easy access to nearby local amenities, including Cato Park and Gardiners Creek Trail within a 300-metre radius, and several educational institutions such as Balwyn College, Auburn High School, and Auburn Primary School within 800 metres north of the <a href="/developments/hawthorn-east-vic-3123">Hawthorn East</a>&nbsp;project.&nbsp;

mikah.m@urban.com.au

First look: New apartments set for Toorak Road, Hawthorn East

UDIA NSW has welcomed a State Budget that puts planning and delivering new homes at its centre.

The Budget acknowledges challenging economic factors including higher interest rates and construction costs, have negatively impacted the feasibility of new residential projects, contributing to a decline in the number of dwelling approvals over the past year to their lowest level in a decade.&nbsp;

“This budget has a number of positive initiatives to tackle the housing crisis however more needs to be done to get keys in doors earlier,” said Stuart Ayres, CEO of UDIA NSW.&nbsp; 
&nbsp; 
The budget confirms $555 million to speed up the planning system and deliver the enabling infrastructure required to build new homes. It also includes funding through the Building Homes for NSW Program for 21,000 market and affordable new homes and 8,400 social homes. &nbsp;This includes $450m toward constructing affordable apartments for key workers. 
&nbsp; 
UDIA NSW welcomes the renewed focus on Western Sydney and the Aerotropolis with over $5b allocated towards critical road projects needed to unlock housing and employment lands. However, more work is required to encourage private sector investment in enabling infrastructure. 
&nbsp; 
“The budget highlights how challenging an economic environment it is for developers and future homeowners," Ayres added.

"More could be done now on works in kind, development contributions and coordination of infrastructure to unlock developable land." 
&nbsp; 
UDIA NSW looks forward to working with the NSW Government as it establishes a guarantee scheme to support private-sector financing to increase the supply of new homes. 
&nbsp; 
“The commitment to a guarantee scheme to accelerate the completion of residential properties is welcomed and will get more projects under construction earlier."

NSW is in the midst of a housing crisis and this budget takes critical steps toward solving the crisis. &nbsp;However UDIA NSW recognises many of the interventions will take years to deliver homes, and more can be done sooner to address this significant social and economic challenge.

UDIA NSW welcomes Budget focus on building more homes

Victoria's state government has outlined draft housing targets to address the growing demand for housing across the region, setting a goal of constructing 2.5 million new homes by 2051.&nbsp;

These targets are part of Plan Victoria, a new strategy set to supersede the 2017 Plan <a href="/developments/melbourne-vic">Melbourne</a>.&nbsp;

The announcement comes amidst broader national housing challenges, particularly in Victoria, which has the largest annual population growth of all Australian states.

Plan Victoria emphasises local government involvement to unlock space for new homes, propose changes to local planning rules, and address infrastructure needs.&nbsp;

"We want to work in partnership with councils to build more homes in the areas where people want to live – close to the people they love and the things they love to do," Planning Minister Sonya Kilkenny said.&nbsp;

Premier Jacinta Allan said “To give industry the confidence they need to get on and build, we need Government and all councils working towards the same goal: more homes for Victorians – in the right places.”

Victoria's Housing Statement includes an ambitious plan to build 800,000 homes over the next decade in an Affordability Partnership with industry.&nbsp;

The plan includes reforming Victoria’s planning system to boost housing supply across the state, clearing the backlog, and providing builders, buyers, and renovators with certainty about approval times.

Additionally, it aims to close loopholes that drive up the cost of living for renters, providing more certainty over leases, living standards, and finances, and resolving tenancy disputes more quickly.

The government is also committed to building more social and affordable homes across Victoria, launching Australia’s biggest urban renewal project on top of the Big Housing Build.&nbsp;

As part of the effort to meet the target by 2051, a regional target has been set to build 425,600 of these homes across Victoria’s regions.

Key areas such as Melbourne's Central Business District (CBD), outer suburbs, and the regional city of <a href="/developments/geelong-vic-3220">Geelong</a> will play pivotal roles in meeting these goals.&nbsp;

Geelong, Victoria's second-largest city, has been set the highest target with 139,800 new homes proposed by 2051, more than double the 127,300 homes currently in Geelong.

The City of Melbourne, which includes the CBD and suburbs like <a href="/developments/carlton-vic-3053">Carlton</a>, <a href="/developments/flemington-vic-3031">Flemington</a>, <a href="/developments/kensington-vic-3031">Kensington</a>, <a href="/developments/north-melbourne-vic-3051">North Melbourne</a>, and <a href="/developments/south-yarra-vic-3141">South Yarra</a>, follows with a target of 134,000 new homes, up from the 110,100 currently.&nbsp;

The <a href="/developments/melton-vic-3337">Melton</a> LGA, situated about 40 kilometres west of Melbourne’s CBD, is third with a proposed target of 132,000 new homes. This area had about 69,000 homes in 2013 and is one of the fastest-growing municipalities, boasting a 6.6 per cent annual population growth.

Other growing outer suburban LGAs are also set high targets. Wyndham in the southwest is targeted for 120,000 new homes, Casey in the southeast for 104,000, and Hume in the northwest for 98,000.&nbsp;

The government emphasises the need for more homes in established suburbs, setting a combined target of 72,000 new homes in Darebin, Merri-Bek, and Monash.

Boroondara, identified by housing advocacy group Yimby Melbourne as the most in-demand LGA with significant growth capacity, has set a target of 67,000 new homes.&nbsp;

Kingston, benefiting from its proximity to the Suburban Rail Loop project, has set a target of 59,000 new homes.

The government's investments in skills, training, and infrastructure such as schools, hospitals, and transport will support this growing population.

Victoria's Housing Statement includes an ambitious plan to build 800,000 homes over the next decade in an Affordability Partnership with industry

VIC Government target 2.5 million new homes by 2051: Which regions will benefit the most

Sydney's unit market is showing continued growth in 2024.

It was the third consecutive month that growth in the value of units, which incorporates both apartments and townhouses, outstripped growth in houses,&nbsp;CoreLogic’s Home Value Index found.

Units posted gains of 0.7 per cent, higher than the 0.5 per cent growth in houses.

Sydney's median unit value is now $848,000, having started 2024 at $834,000.

Sydney's overall housing market is now approaching record levels again, now matching the previous record high set in January 2022. After reaching this peak, dwelling values in Sydney dropped by 12.4 per cent, finding their lowest point a year later.&nbsp;

Since then, the market has experienced a 14.1 per cent rise through the current cycle. This places Sydney at the forefront of recovery among Australian capital cities.&nbsp;

Read more:&nbsp;<a href="/news/nsw/city-beat-may-2024-sydney-unit-growth-doubles-houses-in-april">City Beat May 2024: Sydney unit growth doubles houses in April</a>

<h2>What happened in Sydney’s off the plan apartment market in May</h2>

While new projects launching to the market were scant, planning took centre stage in May, with a series of major development applications and approvals across some of Sydney's best postcodes.

The biggest news came from Circular Quay where&nbsp;<a href="/developers/jdh-capital">JDH Capital</a>, the developer who is redeveloping the iconic Sirius building in The Rocks, laid plans for their latest luxury project.

They've finalised their $183 million plans to demolish the Sir Stamford Hotel on Macquarie Street and replace it with a striking 15-level glass tower with commercial, retail, and luxury apartments.

<img alt="First look exclusive: JDH Capital plot $183 million Sir Stamford Hotel redevelopment on Sydney's Macquarie Street" 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/field/image/Screen%20Shot%202024-05-15%20at%208.55.38%20am.png?VersionId=30oCBOCFNOm5rc04DnZgD8mPpilN._Zo" />

<a href="/architects/bvn-architecture">BVN</a> was given the architectural reigns after the jury at the City of Sydney Design Excellence Competition voted unanimously for their design in early 2023.

69 apartments will be spread across 10 residential levels in the new structure at&nbsp;<a href="/new-apartments/93-97-macquarie-street-sydney">93-97 Macquarie Street</a>.

Part of the development of the 1,612 sqm site, which sits in the Macquarie Special Character area defined in the Sydney LEP 2012, will include the restoration of the heritage-listed Health Department Building that dates back to 1896. That was designed by Government architect Walter Liberty Vernon.

Read more:&nbsp;<a href="/news/nsw/first-look-exclusive-jdh-capital-plot-183-million-sir-stamford-hotel-redevelopment-on-sydneys-macquarie-street">First look exclusive: JDH Capital plot $183 million Sir Stamford Hotel redevelopment on Sydney's Macquarie Street</a>

Three kilometres south of Sydney's CBD in <a href="/developments/redfern-nsw-2016">Redfern</a>, the billionaire Neilson family is planning to revitalise an old commercial strip.

The plans submitted by Paris Neilson,&nbsp;the daughter of billionaire arts patron Judith Neilson and investment banker Kerr Neilson, and her developer husband Todd Buncombe will transform a row of industrial-style commercial spaces across&nbsp;<a href="/new-apartments/2-30-vine-street-redfern">2-30 Vine Street and 32-34 Eveleigh Street</a>.

<img alt="First look exclusive: Billionaire Neilson family to develop new Redfern mixed-use building" 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/field/image/Screen%20Shot%202024-05-06%20at%2012.20.49%20pm.png?VersionId=1vxaIvju3nqHUxzHIF7YKCoNCqqP5AaJ" />

They're proposing a new mixed-use building designed by Koichi Takada Architects that will home 23 apartments and 20 commercial spaces and two retail tenancies.

Read more:&nbsp;<a href="/news/nsw/first-look-exclusive-billionaire-neilson-family-to-develop-new-redfern-mixed-use-building">First look exclusive: Billionaire Neilson family to develop new Redfern mixed-use building</a>

Heading to the east and, after four years of back and forth, Sydney’s landmark&nbsp;<a href="/developments/coogee-nsw-2034">Coogee</a> Bay Hotel is set to be redeveloped.

The iconic watering hole on the corner of Arden Street and Coogee Bay Road, fronting the beach, has been approved to have the current building refurbished, while an extension will see a shop-top housing development with 58 apartments, 11 retail premises, and an internal laneway from Coogee Bay Road.

The Sydney Eastern City Planning Panel granted a Deferred Commencement Consent, consent that will become operational once there has been a resolution of a noise management plan with Randwick City Council.&nbsp;

<img alt="Coogee Bay Hotel redevelopment gets the green light after five years of planning" 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/field/image/Coogee%20Bay%20Hotel%20Redevelopment%20from%20Coogee%20Bay%20Road.jpg?VersionId=leR9KJyvvcs.Ce3o7bl9Ybp0iHd_WqUI" />

In the inner-west, prominent developer&nbsp;<a href="/developers/deicorp">Deicorp</a>&nbsp;has secured planning approval for its first-ever&nbsp;<a href="/new-apartments/rhodes-nsw-2138">Rhodes apartment</a>&nbsp;development,&nbsp;<a href="/new-apartments/marquet-mary-rhodes-1-9-marquet-street-rhodes-nsw-2138">Marquet &amp; Mary</a>.

They've been given the go-ahead to develop the&nbsp;$435 million, 32-level mixed-use tower in the heart of Rhodes designed by Fender Katsilidis.

<a href="/developers/deicorp" target="">Deicorp</a>’s Chairman, Fouad Deiri OAM, said the landmark&nbsp;building will bring much-needed new homes to the heart of Rhodes.

“Designed by one of Australia’s leading design practices,&nbsp;<a href="/architects/fk-australia">FK</a>, Marquet &amp; Mary delivers on&nbsp;<a href="/developers/deicorp" target="">Deicorp</a>’s business values of strong design and high-quality amenities,” Deiri said.&nbsp;

<img alt="Deicorp greenlit for Marquet &amp; Mary tower in Rhodes" 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/field/image/FKMED_22228_M%26M.jpg?VersionId=Zynkp2wTWWeBiNIgi7zIWnWMxDalWD7f" />

&nbsp;Builder developer <a href="/builders/aland">ALAND</a> will also bring much-needed housing to Western Sydney, including potential affordable apartments for key workers.

Cumberland City Council has given ALAND approval to begin work on Amber, the second stage of <a href="/buildings/amber-the-gladstone-village-stage-2-228-pitt-st-merrylands">The Gladstone Village</a>, a major component of its $800 million mixed-use development in <a href="/developments/merrylands-nsw-2160">Merrylands</a>.

Negotiations are ongoing to designate the entire 21-storey tower, consisting of 236 apartments, for affordable housing under the federal government's Housing Australia Future Fund (HAFF). If successful, these units will be offered at lower rental rates for essential workers, easing the housing crisis and supporting the local economy.

<img alt="ALAND to launch Amber; stage two of $800 million Merrylands precinct The Gladstone Village" 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/field/image/Screen%20Shot%202024-05-13%20at%209.23.11%20am_0.png?VersionId=Sr4r0uCD.NdCqCvhUhthPhYfHwfTlHvX" />

While new project launches have been few and far between, there has been some activity outside of the city.

South in Wollongong,&nbsp;<a href="/developers/level-33">Level 33</a>&nbsp;launched one of its most boutique apartment developments to date.

The go-to developer in&nbsp;<a href="/developments/wollongong-nsw-2500">Wollongong</a>&nbsp;has revealed Easterly, directly opposite WIN Stadium at 13 Crown Street, a short walk from the beach.

Easterly comprises 21 luxury two and three-bedroom apartments and three penthouses, all designed in collaboration with&nbsp;<a href="/architects/turner-studio">Turner Architects</a>.

Read more:&nbsp;<a href="/news/nsw/launch-alert-level-33-launch-wollongong-apartment-development-easterly">Launch Alert: Level 33 launch Wollongong apartment development, Easterly</a>

[smartcode_project:default project_id=139092 project_image_fid=282388]

Up north in Sydneysiders favourite beachside holiday hotspot <a href="/new-apartments/byron-bay-nsw-2481">Byron Bay</a>, local developer&nbsp;<a href="/developers/jd-property-group">JD Property Group</a>, launched <a href="/new-apartments/secret-garden-119-123-jonson-street-byron-bay">Secret Garden</a>, their $100 million luxury shoptop development at 119-123 Jonson Street, just 750 metres from Main Beach and on the corner of Jonson and Kingsley Street.

The development will feature 22 apartments, including luxury penthouse suites, alongside 10 upscale retail and hospitality tenancies on the ground floor. The premium-grade retail space will showcase local talent, including top chefs, designers, and artisans while bringing some of Australia’s leading brands to the Byron Bay township.

<img alt="Byron Bay set for Secret Garden after luxury shoptop development gets approval" 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/Screen%20Shot%202024-05-13%20at%209.05.01%20am.png?VersionId=03MVZS.3oyVl41AqHTxhzacPEbGsxbpR" />

JD Property Group Managing Director and third-generation local, Jason Dunn, said the precinct aims to spotlight what makes Byron Bay uniquely special.

It was Sydney's most iconic beach however that grabbed the biggest headlines in the off the plan apartment space in May.

The price per square metre rate was smashed in Bondi Beach where&nbsp;a penthouse atop Hall &amp; Campbell on the dress circle Campbell Parade beachfront sold for over $100,000 per sqm.

<img alt="Hall &amp; Campbell sets new apartment record in Bondi Beach" 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/field/image/Hall%20%26%20Campbell.jpg?VersionId=N7i.jvBaqQtJA6aZEg.95Ii_cjbVEOfj" />

Developed by Allen Linz's Rebel Property and Eduard Litver's Capitel Group and under construction by Trescon, the penthouse sold for $23 million, representing a price per sqm of $105,000.

The penthouse, designed by architect <a href="/interior-designers/scott-carver">Scott Carver</a>, features five bedrooms, five bathrooms, and multiple living areas and balconies with views of <a href="/new-townhouses/bondi-beach-nsw-2026">Bondi Beach</a>.&nbsp;

We have news this month from Circular Quay, Coogee, Bondi Beach, and even Byron Bay

City Beat June 2024: Sydney off the plan apartment development plans pile up as unit growth continues

The <a href="/developments/brisbane-qld">Brisbane</a> property market continued to experience significant growth over May, growth that took it past Canberra to become Australia's second most expensive capital city property market.

"With Brisbane housing values consistently posting solid capital gains while ACT values remain relatively stable, we saw a changing of the guard in May," CoreLogic Research Director Tim Lawless said.

"Brisbane overtook Canberra as having the second-highest median dwelling value across the capitals in May, a position Brisbane hasn’t recorded since 1997."

Brisbane's median dwelling value (which incorporates both units and houses), is now $843,000, above Canberra's $840,000.

It was another big month for the unit market (just townhouses and apartments). The 1.9 per cent growth took the median unit value above Melbourne to $615,000, above Melbourne's $614,000.

Brisbane's rolling quarterly growth is now 5.3 per cent, the strongest eastern seaboard capital. Brisbane's housing market was up 3.7 per cent over the same period.

&nbsp;

CoreLogic's Home Value Index rose by 0.8 per cent during the month, marking the 16th consecutive month of growth and the largest monthly gain since October of the previous year.

Lawless attributed the strong market performance to extremely low levels of available supply in Brisbane and other strong markets. Brisbane's property listings are 34 per cent below the five-year average for this time of year. Despite an increase in vendor activity compared to last year, fresh listings are quickly absorbed by market demand, maintaining low stock levels and exerting upward pressure on prices.

<h2>What happened in Brisbane’s off-the-plan apartment market in May</h2>

There was only one new project for buyers to look at in May. It came from veteran Brisbane apartment developer <a href="/developers/gardner-vaughan-group">Gardner Vaughan Group</a>, who launched their <a href="/developments/nundah-qld-4012">Nundah</a> village mixed-use development, <a href="/new-apartments/danby-lane-nundah-village-5-danby-lane-nundah">DANBY LN</a>.

The 12-level development comprises 84 apartments ranging from one to four bedrooms, priced between $599,000 and $3,199,000.&nbsp;

[smartcode_project:default project_id=112531 project_image_fid=280772]

The project integrates residential units with ground-floor retail, commercial spaces, and extensive recreational facilities including&nbsp;a rooftop with BBQ facilities, a herb and vegetable garden and outdoor dining areas.

There were more developments submitted to the Brisbane City Council in May, a positive sign for future apartment supply.

One of the most anticipated was the first stage of&nbsp;<a href="/new-apartments/bulimba-barracks-stage-1-167-apollo-road-bulimba">Bulimba Barracks</a>, the inner-city masterplan by&nbsp;<a href="/developers/shayher-group">Shayher Group</a>.

The site, acquired from the Department of Defence in 2020, has undergone extensive demolition, retaining only a fabrication workshop from World War II.&nbsp;

<img alt="First look exclusive: Shayher Group file for first stage of Bulimba Barracks" 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/field/image/Screen%20Shot%202024-05-13%20at%209.44.35%20am.png?VersionId=0QiWfBCEHwkZsoTqcEEwe9wBoEnqpqJY" />

The initial phase focuses on a 6,382 sqm block on Apollo Road, featuring two low-rise buildings with 69 apartments.&nbsp; Designed by the <a href="/architects/the-buchan-group">Buchan Group</a>, these three-level buildings will be separated by a laneway from the restored workshop.

<a href="/developers/mirvac">Mirvac</a> too submitted major plans, however they're at the tail end of the inner-city precinct, the $1 billion Newstead waterfront precinct,&nbsp;<a href="/new-apartments/sky-waterfront-newstead-13-cunningham-street-newstead-qld-4006">Sky Waterfront</a>.&nbsp;

The 27-level tower, the tallest in the precinct, will house 138 apartments.

With a focus on owner-occupiers, it includes a variety of unit sizes, and extensive amenities and public spaces to enhance connectivity and community engagement.&nbsp;

<img alt="Mirvac files plans for final stage of Sky Waterfront, Newstead precinct" 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/field/image/Screen%20Shot%202024-05-13%20at%2012.43.59%20pm.png?VersionId=IwKr5QwWpLW9yKCFIr2jaBJXC8BlUUiO" />

&nbsp;

Developer <a href="/developers/skyhold">Skyhold</a> settled on its <a href="/developments/balmoral-qld-4171">Balmoral</a> site, where they're planning a $150 million apartment development.&nbsp;

The project includes four medium-density buildings, offering a mix of two and three-bedroom apartments, penthouses, and 14 townhouses. Approved by Brisbane City Council, the development is set to launch soon.

<a href="/developers/huon-property-group">Huon Property Group</a> received approval for a 15-level, 114-apartment tower at 22 Cleveland Street, <a href="/developments/stones-corner-qld-4120">Stones Corner</a>, while there was another 226-apartment project on Cleveland Street approved for the family-run Idec Group.

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

Tim Forrester's Aria Property Group looks to have finalized its plans for its South Brisbane tower at 164-190 Melbourne Street.&nbsp;

They secured approval for a 14-level tower with 84 apartments designed in collaboration with <a href="/architects/bates-smart">Bates Smart</a> and <a href="/architects/richards-and-spence">Richards &amp; Spence</a>.

Read more:&nbsp;<a href="/news/qld/aria-set-for-new-south-brisbane-apartment-tower-after-council-nod">Aria set for new South Brisbane apartment tower after council nod</a>

&nbsp;

&nbsp;

&nbsp;Outside of the city in <a href="/developments/rochedale-qld-4123">Rochedale</a>, 17km south of Brisbane, <a href="/developers/kinstone-group">Kinstone Group</a> has sought to create a $380 million mixed-use community, Rochedale Terrace.

The first stage will introduce retail and dining options, a tavern, and a 75-room boutique hotel.&nbsp;Later stages will add around 280 apartments and more commercial spaces, aiming to provide diverse housing and community-focused amenities.

&nbsp;

Read more:&nbsp;<a href="/news/qld/kinstone-plot-380-million-rochedale-precinct-rochedale-terrace">Kinstone plot $380 million Rochedale precinct, Rochedale Terrace</a>

City Beat June 2024: Brisbane overtakes Canberra as Australia's second most expensive capital

It was yet another month of solid gains in the Gold Coast unit market.

The 1.8 per cent growth in May, following 1.1 per cent growth in both March and April, made it the top-performing regional unit market in Queensland, according to CoreLogic's latest Monthly Hedonic Index

It outstripped the growth in <a href="/developments/sydney-nsw">Sydney</a> and <a href="/developments/melbourne-vic">Melbourne</a>.

The median value of units in the <a href="/developments/gold-coast-qld">Gold Coast</a> has reached $784,000, which would put the median value only second to Sydney. The median started 2024 at $727,000.

Read more: <a href="/news/qld/city-beat-may-2024-gold-coast-unit-market-continues-to-surge">City Beat May 2024: Gold Coast unit market continues to surge</a>

<h2>What happened in the Gold Coast off the plan apartment market in May</h2>

The average price for new apartments sold on the Gold Coast has risen more than $500,000 in the past six months, according to Urbis, as sustained demand and dwindling supply combined with a sharp rise in interstate investor activity and construction costs continue to impact property values.

The&nbsp;<a href="/architects/urbis">Urbis</a>&nbsp;Apartment Market Essentials report for the March quarter has revealed that new apartment sales achieved a weighted average sale price of $1.73 million, the highest since Urbis began monitoring the new apartment market in 2014.&nbsp;

This is up from $1.67 million in the December quarter, and $1.13 million in September quarter.

There was success up and down the Gold Coast, as well as a much-needed 1000 apartments added to the apartment supply. That was from Harry Triguboff's&nbsp;<a href="/developers/meriton" target="">Meriton</a>&nbsp;who launched their two-tower&nbsp;<a href="/new-apartments/cypress-palms-surfers-paradise-3346-surfers-paradise-boulevarde-surfers-paradise">Cypress Palms</a>&nbsp;development&nbsp;in <a href="/developments/surfers-paradise-qld-4217">Surfers Paradise</a>.

The towers will home just shy of 1000 apartments across two 76 and 90-level towers on a vast 8,083 sqm site at 3346 Surfers Paradise Boulevarde, on top of the Cypress Ave G-Link light rail.

&nbsp;

[smartcode_project:default project_id=139696 project_image_fid=277713]

Cypress Palms will be Harry Triguboff's 21st high-rise development on the Gold Coast, having first visited the now thriving tourist mecca six decades ago.

There was success in Palm Beach where&nbsp;<a href="/developers/marquee">Marquee Development Partners</a>&nbsp;recently launched&nbsp;<a href="/new-apartments/la-belle-palm-beach-332-the-esplanade-palm-beach">La Belle Palm Beach</a>&nbsp;to much fanfare. Its $100 million in sales within the first month of it being on the market made it&nbsp;the city’s fastest-selling project of 2024.

Sales ranged from $2.5 million to $7 million.

[smartcode_project:default project_id=102340 project_image_fid=273596]

<a href="/developers/aniko-group" target="">Aniko</a>&nbsp;also announced they were over 80 per cent sold at their under-construction <a href="/developments/chevron-island-qld-4217">Chevron Island</a>&nbsp;apartment development, <a href="/new-apartments/orama-chevron-island-12-16-weemala-street-chevron-island">Orama</a>.

Only 21 apartments remain in the 21-level building. Priced from $1.25 million, there is a mix of two-bedroom, two-bathroom plus study configurations, and three-bedroom sky homes on the upper levels that are topped off by two luxury penthouses.&nbsp;

[smartcode_project:default project_id=111898 project_image_fid=209596]

Melbourne developer&nbsp;<a href="/developers/hirsch-faigen">Hirsch &amp; Faigen</a>&nbsp;revealed the crown jewel of their recently completed, sold out&nbsp;<a href="/developments/coolangatta-qld-4225">Coolangatta</a>&nbsp;project,&nbsp;<a href="/buildings/emerson-kirra-100-musgrave-street-coolangatta">Emerson Kirra</a>.

The $10 million penthouse has nearly 20 metres of north-facing glass frontage and spans over 500 sqm. It has four-bedroom residence offers open-plan living and dining areas designed to take advantage of the panoramic 270-degree views over the&nbsp;Gold Coast,&nbsp;

&nbsp;

[smartcode_project:default project_id=106646 project_image_fid=278789]

Some developers continue to expand their residential property pipeline to the rest of the Gold Coast, with <a href="/developers/sherpa-property-group">Sherpa Property Group</a> settling on another site in <a href="/new-apartments/labrador-qld-4215">Labrador</a> after kicking off construction at their luxury Palm Beach apartment development <a href="/new-apartments/perspective-nexus">Perspective Nexus</a> and revealing their latest project <a href="/new-apartments/perspective-helm">Perspective Helm</a> on Chevron Island.

They've secured 45 Labrador Street, a 915 sqm block they bought for $1.5 million where they're planning a small lot subdivision.<img alt="Sherpa settle on prime Labrador site" 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/field/image/45%20Labrador%20Street.jpg?VersionId=moQQy2wiN9kN6F2Ifc_CJdqk1Vg5klN4" />

The site, located within Labrador's highly sought-after Golden Triangle, will home Sherpa's collection of brand-new beach homes on the Gold Coast, dubbed Freedom Vantage.

Builder-developer <a href="/builders/5point-projects">5Point Projects</a> has also locked in its next project in the southern Gold Coast.

They're not straying far from their luxury Palm Beach apartment development <a href="/new-apartments/ophira-105-107-jefferson-lane-palm-beach">Ophira</a>, where they've paid $15.6 million for a double-block of 824 sqm at 171-173 Jefferson Lane, a block that offers 20 metres of absolute beach frontage.

<img alt="5Point doubledown in Palm Beach with $15.6 million beachfront acquisition" 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/field/image/IMG_1639.jpg?VersionId=da8gVgM8u..V3LNBrjZXzJPpzKFjvLx7" />

Damian Dove, Managing Director of 5Points Projects, said the company&nbsp;was currently working up plans for the site but confirmed a boutique luxury apartment project in line with their brand was in the mix.

The next project is expected to launch later this year.

City Beat June 2024: Gold Coast unit market enjoys best month in 2024

National developer Metro Property Development, once the largest inner-city residential apartment developer in SEQ, is bringing its reputable name to Rochedale, a small suburb south of Brisbane.

Metro is currently developing <a href="/new-apartments/citrine-townhomes-rochedale-311-gardner-road-rochedale">Citrine</a>, a community of 90 two to three-level, three to four-bedroom townhouses on Gardner Road, a stone's throw from <a href="/developments/rochedale-qld-4123">Rochedale</a> Village, the area's central shopping hub.

The townhouses offer a huge point of difference in a suburb dominated by houses. The latest ABS Census showed 90 per cent of the dwelling type in the suburb is a separate house. There are only around 150 townhouses in the whole suburb.

[smartcode_project:default project_id=136295 project_image_fid=273139]

Australia's largest semi-detached builder,&nbsp;<a href="/developers/creation-homes">Creation Homes</a>, has already started construction on the 3.83ha site Metro acquired in mid-2021.

Each townhome within Citrine features an open plan living and dining area that extends to either courtyards or balconies that characterise the Queensland lifestyle and dwelling typology. The kitchens have been made for entertaining with a stone island bench, while the master retreats have their own ensuites with double vanities.

[smartcode_project:default project_id=136295 project_image_fid=273138]

The majority of townhouses have an additional multi-purpose room that can double up as a second living area on a different level to the main living space.

Citrine residents will also have access to resort-style amenities in the form of a lap pool and adjoining barbecue area, located in the middle of the community.

[smartcode_project:default project_id=136295 project_image_fid=273134]

Citrine is centrally located within walking distance of local schools, parks, and Rochedale Village, which is anchored by a large Coles supermarket and various dining choices, pharmacies, medical services, and fitness facilities, all within 500 metres.

The third stage of Rochedale Town Centre has also recently been announced, on the corner of Gardner Road and Miles Platting Road.&nbsp;

Designed by POWE Architects, the proposal is for a second supermarket with more retail, food and drink outlets, an outdoor dining area and plaza entrance, and further car parking in the final integrated stage.

[smartcode_project_cta:default project_id=136295]

Metro to bring something different to Rochedale with Citrine townhouses

Bastion Property Group has secured more than $30 million in sales for <a>Nera Residences</a> in a little over two months of the project’s official launch.

The $145 million development, which comprises apartments, six skyhomes and a full-floor penthouse, has been inundated with local buyers keen to lock in the walkable village lifestyle of the island suburb.

The sales surge takes <a href="/new-apartments/nera-residences-chevron-island-8-10-parneno-street-chevron-island">Nera Residences</a> closer to a construction start after Bastion secured development approval late last year.

Sales so far have comprised of a blend of two-bedroom apartments from $1.2 million to $1.65 million, as well as half-floor, three-bedroom apartments from $2.2 million to $3.5 million.

“Local buyers have been quick to identify the unique offering at Nera Residences, with some buyers already existing <a href="/developments/chevron-island-qld-4217">Chevron Island</a> residents,” said Alex De Vincentiis, managing director of project marketer <a href="/project-marketer/onepm">ONE:PM</a>.

“Interstate buyers have also been among the early movers with many noting the value that Nera Residences represents for a central Gold Coast location.”

[smartcode_project:default project_id=108640 project_image_fid=241583]

Nera Residences, located at the northern end of Chevron at 8-10 Parneno Street is just a short stroll to Surfers Paradise and Chevron Island’s retail and dining hub.

“The pre-launch campaign garnered hundreds of inquiries and secured several firm commitments from buyers. This momentum has persisted well beyond the initial quarter", De Vincentiis said.

“Many of our buyers were already sold on Chevron Island for its unique positioning alongside the bustle of Surfers Paradise, and the easy access to the light rail and the city’s emerging cultural precinct at Evandale. But they have been equally impressed with the superb designs of Nera’s residences and the amenities that residents will enjoy.”

[smartcode_project:default project_id=108640 project_image_fid=253872]

Award-winning firm <a href="/architects/bda-architecture">BDA Architecture</a> and Paradigm Design Studio have crafted Nera Residences to offer large, open floorplans and generous balconies in an array of two- and three-bedroom layout options with luxe fittings and inclusions.&nbsp;

Rising 28 levels, many Nera apartments will take advantage of 360-degree views of the ocean, river and hinterland. Oversized windows will invite in ample natural light, creating an alluring atmosphere to capture the essence of Gold Coast lifestyle.

Nera’s residents will enjoy luxurious rooftop amenities, including an infinity pool, wellness spa, which includes sauna and cold-water therapy, fitness centre with hinterland view, exclusive Residence Lounge and Private Dining Room, fire pit, and a dedicated unique yoga platform.

[smartcode_project:default project_id=108640 project_image_fid=253875]

<a href="/developers/bastion">Bastion Property Group</a>, a company backed by a private consortium of experienced national and international developers, developed and built by Bastion, construction of Nera Residences starts in the next few months.

“Nera Residences’ exceptional sales response from the market within just 10 weeks of the official launch has affirmed our vision for this unique project,” said Alex Wood, Basiton director.

“Nera is setting a new standard for Chevron Island and after finalising final refinements to the design, our team is looking forward to progressing project to the construction stage.”

Bastion Property Group anticipates Nera Residences will welcome its first residents in 2026.

[smartcode_project_cta:default project_id=108640]

Nera Residences, located at the northern end of Chevron at 8-10 Parneno Street is just a short stroll to Surfers Paradise and Chevron Island’s retail and dining hub

Nera Residences, Chevron Island secures $30 million in apartment sales

Longstanding and respected Newcastle builder developer, GWH, is giving buyers more bang for their buck compared to any other apartment project in Newcastle.

The <a href="/developers/gwh">iCIRT-rated developer</a> is offering floorplans some 20 per cent larger than others on the local market at their under-construction tower ONE Apartments, located in the heart of the <a href="/developments/newcastle-west-nsw-2302">Newcastle West</a> on National Park Street, on the doorstep of Marketown and the Newcastle Interchange.

The 22 and 19-level buildings designed by&nbsp;<a href="/architects/marchese-partners">Marchese Partners</a>, connected by a four-level podium that will home commercial space, will comprise 193 one, two and three-bedroom apartments.

[smartcode_project:default project_id=24247 project_image_fid=281094]

Over 50 per cent of the apartments have already been snapped up, with construction well on track for a late 2025 completion. Nearly all of the one-bedroom apartments are accounted for.

The&nbsp;apartments feature open-plan living areas extending to private winter gardens offering views of Newcastle Harbour, Stockton, Merewether, and the Watagan Mountains.

GWH Managing Director, Jonothan Craig, says ONE Apartments offer spacious open plan living at its finest.

"Luxurious quality, wellness, security, convenience – ONE showcases GWH’s significant research into the elements our residents most desire for a beautiful, enduring quality of life," Craig says.

[smartcode_project:default project_id=24247 project_image_fid=281096]

The kitchens are equipped with SMEG appliances and soft-touch cabinetry, centred around a breakfast bar designed for ease of entertaining, while the master&nbsp;bedrooms come with built-in or walk-in robes, bathrooms with natural stone tiling, and premium tapware, ensuring ample storage and natural light.

Homeowners can choose between natural, earthy tones in light and dark colour palettes.&nbsp;

Each apartment is also fully wired with fibre-to-premises NBN, Pay TV, wireless access points, and the option to upgrade to the Clipsal Wiser™ Smart Home system, allowing residents to control home features via a single app.

[smartcode_project:default project_id=24247 project_image_fid=281099]

Residents at ONE Apartments will have access to exclusive amenities, including an outdoor pool, cinema, gym, sauna, a bookable private function room, and two rooftop entertainment areas.&nbsp;

The Scenic Lounge is located on the 22nd floor of the South Tower, and the Harbourview Lounge is atop the 19th floor of the North Tower.

[smartcode_project:default project_id=24247 project_image_fid=281103]

ONE Apartments is ideally located within walking distance of Darby Street eateries, parks, the Civic Theatre, Newcastle Interchange, the Honeysuckle foreshore precinct, and various retail stores.

GWH was founded as GWH Build in 1995 by&nbsp;Grahame Chevalley and Hilton Grugeon AM.&nbsp;Since 2017 GWH has delivered over 600 new homes to the Newcastle region.

[smartcode_project_cta:default project_id=24247]

GWH Managing Director, Jonothan Craig, says ONE Apartments offer spacious open plan living at its finest

ONE Apartments to offer Newcastle's largest new apartments

Most of the new apartment developments in the Southern Gold Coast's sought-after pocket of Palm Beach have been beachfront or beachside luxury.

The latest plans, by a private Melbourne-based developer, will likely offer something a little more pricepointed than what's currently on the market.

Still catering for the owner-occupier with the majority of three-bed apartments, the project, dubbed Tarni due to its location at 1 Tarni Avenue, sits on the western and non-beachside side of the Gold Coast Highway. The 792 sqm site, on the corner of Tarni Avenue and Twenty Eighth Avenue, is nearer to Tallebudgera Creek.

<img alt="Tarni" data-entity-type="file" data-entity-uuid="e2410542-e85d-4066-a675-a771c331a146" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-06-17%20at%209.20.43%E2%80%AFAM.png?VersionId=Jw.9MTL0Odv2D.3p139JGlzhuCjb2Cvc" />

ByCulprit has pulled together the designs for the eight-level building, suggesting the creek, ocean coastlines and coves were the inspiration to create the architectural facade.

They said their design thinking was to "create an organic, jagged base with crushed rocks with soft off-white planes floating above wrapping down to mimic the ocean waves and its sculpted ability."

They "pinched" the building to create view corridors from each corner of the building while also creating "coves", private, protected balconies that can take in the views and create shade.

<img alt="Tarni Palm Beach" data-entity-type="file" data-entity-uuid="f1b97d49-cb8a-491c-921d-c9b457c03fae" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-06-17%20at%209.19.46%E2%80%AFAM.png?VersionId=aXd3pHQOjBy6BLd1Zgq6_UjmiA0n6uGy" />

There will 23 apartments in total, a sole one-bedroom unit, six two-bedrooms, and 16 three-bedroom apartments. They will sit above two basement levels and a ground level with 45 parking spaces and 23 bicycle spaces.

Also on the ground level will be a swimming pool, wet deck with daybeds, and a gym.

The new project will opposite The Tally, the recently completed 45-apartment building by MVGS Properties at 14-18 Twenty Eighth Avenue.

Palm Beach has been the most popular spot on the Gold Coast since the pandemic. Off the plan apartment developments flew off the shelves, and there wasn't enough stock to keep up with demand.

Now the focus is mainly on the beach, where the likes of <a href="/news/qld/mosaic-secures-beachfront-palm-beach-site-for-latest-luxury-apartment-development">Mosaic</a>&nbsp;and&nbsp;<a href="/news/qld/first-look-exclusive-ignite-projects-line-up-next-luxury-palm-beach-apartment-development">Ignite Projects</a>&nbsp;and <a href="/news/qld/5point-doubledown-in-palm-beach-with-15-6-million-beachfront-acquisition">5Point</a>&nbsp;recently secured sites. Marquee has launched <a href="/new-apartments/la-belle-palm-beach-332-the-esplanade-palm-beach">La Belle Palm Beach</a>, earlier this year and <a href="/news/qld/marquee-net-100-million-in-sales-at-la-belle-palm-beach-apartment-development">secured $100 million in sales</a> within the first few weeks of launching, making it the city’s fastest-selling project of 2024.

So far sales prices have ranged from $2.5 million to $7 million.

Sherpa is just off the beach at their under-construction development <a href="/new-apartments/perspective-nexus">Perspective Nexus</a> which is already over 50 per cent sold having been on the market for only a few months. Sherpa also recently announced a <a href="/news/qld/sherpa-secure-three-new-palm-beach-sites-for-next-gold-coast-apartment-development">new site purchase</a>&nbsp;locally, at 8-12 Sixth Avenue.

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