For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Joel Robinson

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

[smartcode_project:default project_id=111820 project_image_fid=344699]

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

[smartcode_project:default project_id=136442 project_image_fid=374084]

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

[smartcode_project:default project_id=134954 project_image_fid=4553]

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul>
	<li>Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li>10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li>An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li>Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li>No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li>Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li>Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul>
	<li>Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li>Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li>Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li>Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

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

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

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

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

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

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

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

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

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?

In a significant step towards the realisation of Crest, their boutique Mosman&nbsp;apartment development, Moorgate Property has appointed iCIRT-rated builder&nbsp;Trescon to deliver the project.

The <a href="/architects/plus-architecture">Plus</a>-designed <a href="/new-apartments/crest-mosman">Crest</a> comprises only six luxury apartments boasting uninterrupted views of <a href="/new-apartments/sydney-nsw">Sydney</a>'s North Harbour on the fringe of <a href="/developments/mosman-nsw-2088">Mosman</a> village.&nbsp;

The 1,041 sqm site, located six metres below street level, inspired Plus Architecture's innovative design, maximising privacy and amenity by utilising the steep topography.

<img alt="Moorgate Property appoints Trescon to build for Crest Mosman - living" data-entity-type="file" data-entity-uuid="0d77b1f1-daa5-4998-a8e9-03d5d759342a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Crest%20Living.jpg?VersionId=g6i_2b60pvdJY0IAaYP__U8TdZQv3QDH" />

Crest's minimalist design is characterised by neatly stacked units, creating a crescent-like shape that defines the property's front, rear, and roof.

The design approach aims to not only blend but enrich the streetscape while offering a unique living experience for residents.

The same approach has been applied to the interiors designed for discerning buyers, especially local downsizers wanting a low-maintenance lifestyle in Mosman.&nbsp;

<img alt="Moorgate Property appoints Trescon to build for Crest Mosman - bedroom" data-entity-type="file" data-entity-uuid="286e64f7-8eae-4e52-8ae1-5528f339349a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Crest%20Bedroom.jpg?VersionId=CBW_8KIn.38yZY14Rw8ifrKFquNNAD9M" />

Each three and four-bedroom apartment features spacious layouts, high-end amenities like wine storage, and durable natural materials such as stone and timber.

The higher-level units will lead out to private balconies with panoramic views of Middle Head &amp; the iconic Sydney Harbour, while the lower-level residences will extend to private gardens.

Crest is located just a few minutes from Chinamans Beach, Rosherville Reserve, and harbourside restaurants, and only 30 minutes from Sydney CBD.

[smartcode_project_cta:default project_id=142776]

Crest's minimalist design is characterised by neatly stacked units, creating a crescent-like shape that defines the property's front, rear, and roof

Moorgate Property appoints Trescon to build for Crest Mosman

Brisbane developer Shayher Group has revealed the first stage of its highly anticipated Bulimba Barracks masterplan.

<a href="/developers/shayher-group">Shayher</a> secured the <a href="/new-apartments/bulimba-barracks-stage-1-167-apollo-road-bulimba">Bulimba Barracks</a> in 2020, buying it from the Department of Defence who had owned it since 2015 when the Commonwealth government disposed of the site as a defence asset.

Since 2020 the majority of the buildings that were part of the barracks from World War II to the 1980s have been demolished. The only building that has been retained is the fabrication workshop which was a barge building shop in World War II.

That will form one of three buildings for the <a href="/new-apartments/bulimba-barracks-stage-1-167-apollo-road-bulimba">first stage of the redevelopment</a> of the 20.73-hectare site. 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.

<img alt="Bulimba Barracks" data-entity-type="file" data-entity-uuid="20c132a1-f7e0-4120-9d19-c594aa89f9e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-13%20at%209.44.29%20am.png?VersionId=28UWuHHWpkdbXnno5yIT333N4LdhYD9a" />

The fabrication workshop will home a display suite during the market and construction phase of the development, before being converted into a food and beverage hospitality venue with a cafe and outdoor dining next to the Brisbane River.

Shayher had Buchan Group put together the plans for the two three-level buildings. While not having to bow to strict heritage rules given the former factories on the block had been torn down, there was the consciousness that the buildings be located, designed and constructed to reflect the footprint, overall bulk, and scale of the WWII buildings.

The 69 apartments will be split across two buildings that will be divided by a central community garden, complete with a 13-metre resident swimming pool, activities lawn, sauna, outdoor dining cabana and cabana lounges. Each building will have a rooftop garden with golf-putting greens and open lawn spaces for yoga and lawn bowls. One rooftop will have a reduced-size pickleball court.

<img alt="Bulimba Barracks" data-entity-type="file" data-entity-uuid="935d39ed-5b74-4d3a-a28b-7e5a90bdede2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-13%20at%209.44.43%20am.png?VersionId=tDMrv1X818lMTsOsN1qaM7fWw7ViUAbW" />

There will be 10 one-bedroom apartments on offer, 38 two-beds and 21 three-bedroom units. They will sit above 180 basement parking spaces.

Buchan Group said in their Urban Context Report the <a href="/new-apartments/bulimba-qld-4171">Bulimba</a> Barracks represents an eastern gateway to the river’s edge and symbolises the continuing evolution of Brisbane’s inner city.

"The intent is to start creating a new neighbourhood as envisioned in the Masterplan approved in 2022, which seamlessly integrates with adjoining neighbourhoods and surrounding residential areas providing new opportunities for connectivity and access to the riverfront," the architecture firm said.

<img alt="Bulimba Barracks" data-entity-type="file" data-entity-uuid="9753bc6e-8a40-4372-9ce9-407b046c5240" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-13%20at%2010.18.50%20am.png?VersionId=Z_GE9Amz0oTdce6ntn6U5867g5Enuso2" />

They said the development&nbsp;offers an exciting opportunity for the renewal of an underutilised site and activation to the surrounding area.

"The focus for the development will be on providing a new offering to the local area. The fabrication workshop will be retained and adapted to create a new community heart that will provide a strong visual identity for the neighbourhood and new neighbourhood centre."

Development of the site is set to occur over the next five to 10 years, broadly following the masterplan layout in the Bulimba District Neighbourhood Plan.

Shayher has experience delivering multi-stage developments in Brisbane. They've previously created the $1 billion mixed-use precinct, Brisbane Quarter on George Street. That features three towers, a mix of residential and commercial next door to Brisbane Square and behind Brisbane City Hall.

Development of the site is set to occur over the next five to 10 years, broadly following the masterplan layout in the Bulimba District Neighbourhood Plan.



First look exclusive: Shayher Group file for first stage of Bulimba Barracks

Cumberland City Council has given builder developer ALAND approval to begin work on Amber, the second stage of The Gladstone Village, a major component of its $800 million mixed-use development in Merrylands.

Amber will bring much-needed housing to Western Sydney, including potential affordable apartments for key workers.

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.

Amber will feature 31 one-bedroom, 186 two-bedroom, and 19 three-bedroom apartments. The tower will include a residents-only rooftop space, a children’s playground, and three retail spaces on the ground floor. The rooftop terrace will offer amenities like an outdoor cinema, barbecue areas and a community vegetable garden.

Upon completion, The Gladstone Village will transform a 2.5-hectare site into a vibrant urban precinct, featuring over 1,000 residential apartments spread across seven buildings. The development is strategically located near essential transport links and shopping convenience.

The first stage of The Gladstone Village, Quartz, was completed last month and has officially sold out its 363 apartments, with most apartments snapped up by first home buyers and investors.

ALAND Founder and owner, Andrew Hrsto expressed his excitement about the project's progress and its positive impact on the local community.

"This project plays a key role in the transformation of Merrylands,"&nbsp;Hrsto said.

"ALAND is committed to creating a best-in-class development that adds significant value to the broader community and addresses the need for more affordable housing.

"With the inclusion of planned roads and cycleways, improved walkable connections and bustling streetscapes, The Gladstone Village will become a dynamic public space for people of all ages. This precinct will also feature 4,300 sqm of retail space and over an acre of parkland and civic spaces, including the largest public park in the Merrylands town centre."

Hrsto said the Gladstone Village is designed to create a vibrant neighbourhood, fostering community growth and providing new opportunities for both business and social interaction."

The retail spaces in Amber are expected to attract alfresco dining operators, complementing the precinct’s active urban spaces and tree-lined boulevards.

ALAND's Head of Development, Anas Rahhal, said the Amber apartments would exceed the expectations of today's market, with high-quality finishes and spacious designs.

"We've created floorplans that emphasise expansive living areas and workspaces to cater to modern urban living," Rahhal said.

Construction for Stage Two is scheduled to begin in Q3 2024 and is expected to be completed by Q4 2025.

Plans for Stage Three, which include three buildings with 303 apartments and four food and beverage outlets, have already been submitted to Council.

About ALAND

ALAND is an award-winning, Australian-owned family business and one of Sydney’s largest and leading private development and construction groups. For over 20 years ALAND has delivered exceptional quality at an affordable price to Greater Western Sydney and the Central Coast of New South Wales.

ALAND invests significant amounts of time and expertise in researching the market, ensuring that each location is hand-picked for growth and income potential.

Upon completion, The Gladstone Village will transform a 2.5-hectare site into a vibrant urban precinct, featuring over 1,000 residential apartments spread across seven buildings

ALAND to launch Amber; stage two of $800 million Merrylands precinct The Gladstone Village

Building crew, staff and guests last week celebrated the topping out at Paramount on Parkes, ALAND’s new $357 million development in Paramatta CBD, marking the successful conclusion of its construction phase.

The ceremony, an age-old tradition in which a tree is hoisted onto the top floor of a new building, was held on level 46 of the mixed-use development on Parkes Street.

When completed in August this year, the new tower will contain 331 apartments, a ground-floor retail precinct, resort-style amenities and six floors of dedicated commercial space at the summit.

[smartcode_project:default project_id=9187 project_image_fid=278983]

The ceremony was attended by Dr Andrew Charlton, federal MP for Parramatta, Cr Pierre Esber, the Lord Mayor of Parramatta, Tom Forrest, CEO of Urban Taskforce Australia and Gurmeet Tuli, President of Little India Australia.

Speaking at the event, Dr Andrew Charlton, federal MP for Parramatta said, “As the fastest growing CBD in Australia, Parramatta needs more high-quality housing, close to our exceptional transport hubs, lifestyle amenities, and beautiful parklands – Paramount of Parkes exemplifies this. With vistas of the river, little India and the CBD, it is a real contribution to our city, offering a symbol and benchmark for mixed-use development here in Parramatta.

<a href="/builders/aland">"ALAND</a> and its partners should be extremely proud of bringing this development to fruition. I congratulate them on this remarkable contribution to the future of our growing and dynamic city.”

[smartcode_project:default project_id=9187 project_image_fid=278986]

ALAND Founder and Owner Andrew Hrsto told the gathering that as someone who was born and raised in Western Sydney, he was immensely proud of Paramount on Parkes, one of the largest projects that ALAND has developed.

“Paramount stands as a beacon of our enduring commitment to providing much-needed housing in Paramatta CBD and Western Sydney generally,” he said.

“With its blend of residential apartments, ground floor retail and commercial spaces, and views of our much-loved Parramatta Eels stadium, Sydney CBD and surrounding parklands, this building illustrates our dedication to meeting the evolving needs of this community and is also a landmark achievement in ALAND’s own journey.”

[smartcode_project:default project_id=9187 project_image_fid=278982]

Hrsto paid tribute to the 5,000-strong workforce that was involved in the development of the 156-metre-high tower, plus ALAND’s many trusted suppliers and sub-contractors.

“On this momentous occasion, I extend my heartfelt gratitude to all those who have contributed to the realisation of this visionary project,” he said.

“As we gather here today to mark this occasion, let us reaffirm ALAND’s ongoing collaboration with both state and local authorities, and our commitment to help tackle the housing supply problems that we are facing in New South Wales.”

[smartcode_project:default project_id=9187 project_image_fid=278983]

Paramount on Parkes is a cutting-edge building that features many sustainable features, such as efficient use of wind, water and solar access, state-of-the-art security technology and the latest digital comms, including optic fibre cabling.

The distinctive curved exterior of the building reflects the meandering nature of the nearby Paramatta River, 
softening the visual impact of the tower which is a gateway to the city.

Apartments are available in one-, two- and three-bedroom formats and offer open-plan living, floor-to-ceiling windows, private balconies and high-quality appliances and finishes. Residents enjoy access to an outdoor swimming pool, playground, landscaped gardens and other communal space on the podium level.

[smartcode_project:default project_id=9187 project_image_fid=278984]

About ALAND

ALAND is an award-winning, Australian-owned family business and one of Sydney’s largest and leading private development and construction groups. For over 20 years ALAND has delivered exceptional quality at an affordable price to Greater Western Sydney and the Central Coast of New South Wales.

ALAND invests significant amounts of time and expertise in researching the market, ensuring that each location is hand-picked for growth and income potential.

[smartcode_project_cta:default project_id=9187]

Hrsto paid tribute to the 5,000-strong workforce that was involved in the development of the 156-metre-high tower, plus ALAND’s many trusted suppliers and sub-contractors

ALAND's Andrew Hrsto marks construction milestone at Paramount on Parkes with topping out event

Byron Bay's Jonson Street is set for a new $100 million mixed-use development.

Local <a href="/new-apartments/byron-bay-nsw-2481">Byron Bay</a> developer, <a href="/developers/jd-property-group">JD Property Group</a>, has been approved for a luxury shoptop development at 119-123 Jonson Street, a 2,725 sqm block just 750 metres from Main Beach and on the corner of Jonson and Kingsley Street.

They'll launch the project, dubbed <a href="/new-apartments/secret-garden-119-123-jonson-street-byron-bay">Secret Garden</a>, this month.

Read more: <a href="/news/nsw/first-look-new-apartments-planned-for-byron-bays-jonson-street">First look: New apartments planned for Byron Bay's Jonson Street</a>

<a href="/news/nsw/first-look-new-apartments-planned-for-byron-bays-jonson-street"><img alt="Secret Garden" data-entity-type="file" data-entity-uuid="d8a152c7-32be-4813-b414-6b85991175f5" src="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" /></a>

&nbsp;

<a href="/new-apartments/secret-garden-119-123-jonson-street-byron-bay">Secret Garden</a> is JD Property Group’s second premier Byron Bay development. Following the success of its flagship precinct, Jonson Lane, it promises to bring the spirit of the Byron Bay Hinterland to the centre of town with premium amenities, green spaces, and a personalised concierge service for residents.

Secret Garden will comprise 22&nbsp;apartments, including luxury penthouse suites, alongside 10 upscale retail and hospitality tenancies on the ground floor. The premium-grade retail space&nbsp;will showcase local talent, including top chefs, designers, and artisans, while bringing some of Australia’s leading brands to the Byron Bay township.

JD Property Group Managing Director and third-generation local, Jason Dunn, said the precinct aims to spotlight what makes Byron Bay uniquely special.

“As a proud local, I am excited to showcase the best of Byron in a world-class, luxury precinct,”&nbsp;Dunn said.

“Every element has been thoughtfully considered and designed. From partners to products, we have aimed to work with our local community at every stage. This includes partnering with a local landscape architect to incorporate natural vegetation in our expansive greenspaces, which account for more than 40% of the precinct’s ground floor area. We have also worked with a local designer to deliver a rustic, coastal, and authentic style emulating the Byron Bay coast and hinterland, not yet seen in residential apartment living.

“Secret Garden is a very different offering to others in the market and has been positively received by our community and stakeholders. We anticipate strong interest from residents and retailers.”

<img alt="Secret Garden" data-entity-type="file" data-entity-uuid="693766ea-1cfa-404a-abc6-0d6adaec163d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-13%20at%209.05.35%20am.png?VersionId=Ppyt6WNxXgEKByRO.OJBI.bQnnONGouZ" />

From amenities to personalised service, Secret Garden will offer residents a hotel-style service experience. The precinct features premium communal spaces,&nbsp; such as a rooftop wellness centre including magnesium pool, sauna, meditation space, and spa. There's an exclusive terraces for residents, BBQ areas, and a teppanyaki grill. A private concierge will be part of the project.

With an eight-star average NatHERS (Nationwide Housing Energy Rating Scheme) score, Secret Garden is a fossil-fuel free residential development. Its sustainability credentials include high-performing internal features, like glazing, to regulate temperature; water-efficient fixtures and fittings; and a ventilation strategy that maximises fresh, clean indoor air.

<img alt="Pool" data-entity-type="file" data-entity-uuid="3d23a872-b6fe-445e-91e1-6e72dadaf73a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-13%20at%209.05.08%20am.png?VersionId=fgXoCyEXa6ybwtizp_EHGAIyLSW4QhAk" />

“We are proud to be delivering a sustainable development that offers residents the choice of 100% renewable energy supply,” Dunn added.

“Our market-leading sustainability commitments are a true point of difference for our precinct.

“Sustainable design is a must for us, and we aim to celebrate and nurture our natural environment at every stage of the process. We hope to attract residents and retailers who share these values.”

The three-storey precinct is a collaboration with Australian architect, <a href="/architects/bayley-ward">Bayley Ward</a>, renowned local interior curator Island Luxe, and local landscape architect, LARC. It follows JD Property Group’s award-winning Jonson Lane project, which has around 80 per cent of its retail, restaurant, health, and wellness offerings serviced by local Byron-based brands.

Secret Garden will comprise 22 apartments, including luxury penthouse suites, alongside 10 upscale retail and hospitality tenancies on the ground floor

Byron Bay set for Secret Garden after luxury shoptop development gets approval

For a second month in a row, Melbourne's unit market outperformed houses, a trend now being noticed across the majority of capital cities throughout Australia.

Values of units in Melbourne (which incorporates both apartments and townhouses), grew by 0.1 per cent,&nbsp;according to data from property data analytics firm CoreLogic's Monthly Hedonic Index.

While only modest growth, houses in <a href="/new-apartments/melbourne-vic">Melbourne</a> went backward -0.2 per cent. Melbourne units are outperforming houses over the rolling quarter, up 0.4 per cent in the last three months compared to a -0.3 per cent decline in the house market.

The median value of units in Melbourne currently stands at $613,000.

<h2>What happened in Melbourne's off the plan apartment market in April?</h2>

While Melbourne is continuing to suffer from chronic undersupply of new property, there was a bit of activity over April with new stock coming to market.

<a href="/developers/beulah">Beulah</a> shifted their attention to Brunswick having now sold over 80 per cent of their landmark STH BNK by Beulah tower. They unveiled a new boutique townhouse development,&nbsp;<a href="/new-townhouses/brunswick-established-23-hodgson-st-brunswick-vic-3056">Brunswick Established</a>,&nbsp;which they're pitching as "future-proofed and multi-generational."

[smartcode_project:default project_id=136451 project_image_fid=274274]

Comprised of 23 two-storey townhouses, Brunswick Established offers multiple typologies of townhomes to suit different living requirements, allowing residents to grow in place - the majority include ground-floor bedrooms for accessibility while others provide a detached room separated by a courtyard.&nbsp;

Spanning a large 3,705 sqm site and designed by leaders in social and sustainable architecture Six Degrees Architects, Brunswick Established will also feature verdant common spaces inspired by traditional London Mews design, including a private laneway, landscaped courtyards and rooftop terraces.

[smartcode_project:default project_id=136451 project_image_fid=270371]

There was a rare launch of new apartments in&nbsp;<a href="/new-apartments/hawthorn-vic-3122">Hawthorn</a>&nbsp;in April. The new Riversdale Road project, <a href="/new-apartments/sculpt-hawthorn-43-riversdale-road-hawthorn-vic-3122">Sculpt</a>, is&nbsp;the suburb's only off the plan apartment development currently in the market.&nbsp;

Crafted in collaboration with acclaimed design teams <a href="/interior-designers/mim-design">Mim Design</a>, <a href="/architects/parallel-workshop-architecture">Parallel Workshop</a>, and <a href="/architects/jack-merlo">Jack Merlo</a>, Sculpt comprises just 18 two, three, and four-bedroom apartments in a low-rise building near Fairview Park.

[smartcode_project:default project_id=144271 project_image_fid=270343]

<a href="/new-apartments/caulfield-north-vic-3161">Caulfield North</a> saw the launch of <a href="/new-apartments/reverie-caulfield-79-89-hawthorn-road-caulfield-north">Reverie</a> which sold 30 per cent of its 34 two and three-bedroom apartments quickly.

Award-winning <a href="/architects/bg-architecture">BG Architecture</a> have teamed with acclaimed interior design firm, <a href="/interior-designers/hecker-guthrie">Hecker Guthrie</a>, to design Reverie, divided into three levels; The Penthouse Level, The Sanctuary Levels, and The Podium — offering panoramic bay and city views in the Penthouse Level to spacious balconies overlooking Caulfield Park and the city skyline in the Sanctuary Levels.

[smartcode_project:default project_id=144513 project_image_fid=269496]

<a href="/developers/bensons-property-group">Bensons Property</a> also has a new project in the market. <a href="/new-apartments/drummond-house-482-492-drummond-street-carlton">Drummond House</a> in <a href="/new-apartments/carlton-vic-3053">Carlton</a>, comprising a mix of two, three and four-bedroom apartments across 13 levels, will be Carlton's first fully electric building.

Drummond House will target an 8.7-star energy rating, aligning itself with modern sustainability standards.

<img alt="Launch Alert: Bensons reveal new Carlton apartment development, Drummond House" 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/Drummond%20House%20Cinema.png?VersionId=EC80lxoXwR6WByYDuwtLNIwhQ6RkemrV" />

<a href="/builders/lendlease-building">Lendlease</a> revealed their latest stage of Collins Wharf off the back of the success of its most recent apartment tower, <a href="/new-apartments/regatta-at-collins-wharf-docklands-951-collins-street-docklands">Regatta</a>, which is now 80 per cent sold.

<a href="/architects/warren-and-mahoney">Warren and Mahoney</a> have been engaged again to design their new tower, <a href="/new-apartments/ancora-at-collins-wharf-docklands-971-collins-street-docklands-vic-3008">Ancora</a>, a 28-level tower with 276 one, two and three-bedroom apartments that offer uninterrupted views of either Victoria Harbour towards the city or the Yarra River across to Port Phillip Bay.

The Premier Collection comprises 27 residences across a range of townhouses, penthouses, and larger-scale apartments that will soon become available.

Ancora residents will enjoy a hotel-style lobby with concierge service, a private dining room to entertain guests, and the lush, landscaped surrounds of two rooftop terraces located at a level for and level 16 with panoramic views, plus a winter garden.

[smartcode_project:default project_id=9779 project_image_fid=263997]

While the supply of new apartments is still nowhere near enough to meet the demand, several new projects on the horizon will bring some more supply, none larger than a four-tower development in the Fishermans Bend precinct.

<img alt="First look exclusive: Citinova plot multi-tower development in Fishermans Bend" 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%202024-04-19%20at%204.18.10%20pm.png?VersionId=eogu21v9z8UCqB3bNm08l5GSzxKbbgXs" />

The project, which is being managed by <a href="/developers/citinova">Citinova</a>, features a four-tower development that will bring over 1000 apartments to the chronically undersupplied Melbourne market.

The five-stage project will also include an unencumbered 3,075 sqm public open space.

Read more:&nbsp;<a href="/news/vic/first-look-exclusive-citinova-plot-multi-tower-development-in-fishermans-bend">First look exclusive: Citinova plot multi-tower development in Fishermans Bend</a>

<a href="/new-apartments/southbank-vic-3006">Southbank</a> is also set for a new tower with plans filed for a new 25-level tower.

<a href="/architects/fk-australia">Fender Katsalidis</a> has put together plans for the 188-apartment tower at 38 Clarke Street, on the corner of City Road and Clarke Street just behind Crown Melbourne.

In the medium-density space, prominent developers <a href="/developers/abadeen-group">Abadeen</a> and <a href="/developers/carpe-group">Carpe Group</a> were both active.

Abadeen lodged plans for their second apartment development in Melbourne having expanded from Sydney's Lower North Shore late last year.

Read more:&nbsp;<a href="/news/vic/first-look-abadeen-lodge-plans-for-second-melbourne-apartment-development">First look: Abadeen lodge plans for second Melbourne apartment development</a>

<img alt="First look: Abadeen lodge plans for second Melbourne apartment development" 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%202024-04-17%20at%2011.05.29%20am.png?VersionId=79fVjZ.l2snAFEPFAw3RuGyQuZFmK7pW" />

Currently selling their debut project <a href="/new-apartments/malea-94-burke-road-malvern-east">Maléa</a> in <a href="/developments/malvern-vic-3144">Malvern</a> where they've recently appointed <a href="/builders/brompton-construction">Brompton Construction</a> to build the boutique project of just seven parkside apartments, Abadeen, led locally by Andrew Leoncelli, has filed for a four-level apartment development housing 26 apartments.

They had <a href="/architects/carr-design">Carr Design</a> design the four-level building to curve around a Smooth Bark Apple tree, immovable as it's listed as a national trust significant tree.

Fellow boutique developer Carpe Group secured the green light for two projects in Bayside. They're soon to launch The Coterie, 25 apartments in <a href="/developments/sandringham-vic-3191">Sandringham</a>, and 18 apartments in Hampton.

<a href="/new-apartments/the-coterie-sandringham-49-51-abbott-street-sandringham">The Coterie</a> will go first. That will home two and three-bedroom apartments in a Warren &amp; Mahoney-designed building at 49-51 Abbott Street, near Sandringham Station

<img alt="Carpe Group secure green light for two Melbourne apartment developments" 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%202024-04-16%20at%208.38.06%20am.png?VersionId=lmqKqJjGajM8L4pPzeIzQ_bjThK3RGx0" />

Carpe's other Bayside project, in <a href="/developments/hampton-vic-3188">Hampton</a>, is another that's all about the location.

Strategically located one street back from the vibrant Hampton Street with all the retail, hospitality and Hampton Station. Carpe will launch 18 apartments at 8-10 Ocean Street, designed by <a href="/architects/martin-freidrich-architects">Martin Friedrich Architects</a> who will also handle the interiors.

Read more:&nbsp;<a href="/news/vic/carpe-group-secure-green-light-for-two-melbourne-apartment-developments">Carpe Group secure green light for two Melbourne apartment developments</a>

City Beat May 2024: Melbourne unit growth outstrips houses for second straight month

Buyer demand across the country is shifting to units as housing affordability continues to put a strain on budgets.

Research by property data analytics company CoreLogic shows worsening affordability, particularly in capital city markets where house prices have soared.

CoreLogic Economist Kaytlin Ezzy says demand is now tilting towards unit and apartment living due to affordability concerns, particularly in capital cities.

"House values surged nearly 40 per cent since March 2020, while unit values rose 17.9 per cent, indicating the widening gap between house and unit values," Ezzy says.

<img alt="House vs Unit growth" data-entity-type="file" data-entity-uuid="488729a0-d3ea-441b-952b-da4978c13edb" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2405_COTM.PNG?VersionId=J38cRtz3_VtXJL8a4njyWTPBtzxbrtDd" />

&nbsp;

Hobart is the only capital that saw stronger value growth in houses (0.8 per cent) compared to units (0.6 per cent) over the three months to April.

"Given the worsening affordability environment and the growing possibility that interest rates could be higher for longer, it's unsurprising that demand has skewed towards the more affordable unit sector," Ezzy added.

Over the three months to April, lower quartile dwelling values rose three per cent, more than twice the pace of upper quartile values (1.1 per cent), with growth conditions continuing to be skewed toward the more affordable section of the market.&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>

Read more:&nbsp;<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>

Read more:&nbsp;<a href="/news/qld/city-beat-may-2024-brisbane-unit-growth-doubles-houses-in-april">City Beat May 2024: Brisbane unit growth doubles houses in April</a>

The prolonged high-interest rate environment has seen buyer demand continue to skew towards more affordable housing alternatives, with most capitals now recording stronger growth in the more affordable unit sector

Apartment and townhouse value growth surges ahead of houses amid tightening affordability: CoreLogic

Local owner-occupiers have jumped at Mirvac's new Brunswick apartment development, Prince &amp; Parade.

<a href="/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick">Prince &amp; Parade</a>, on the doorstep of the 39-hectare Princes Park, home of Carlton Football Club, walking paths, sports grounds, and playgrounds, has proven to be a hit with local buyers from <a href="/developments/brunswick-vic-3056">Brunswick</a>, as well as the neighbouring&nbsp;<a href="/new-apartments/parkville-vic-3052">Parkville</a>, <a href="/new-apartments/princes-hill-vic-3054">Princes Hill</a>, and <a href="/new-apartments/carlton-vic-3053">Carlton</a>.

There's been an influx of purchasers who are working in the medical industry in particular, given the development's proximity to several local hospitals. Prince &amp; Parade's location has also proven favourable for academics who work at highly prestigious local universities like <a href="/developments/melbourne-vic" target="">Melbourne</a>&nbsp;University and RMIT.

[smartcode_project:default project_id=4802 project_image_fid=217113]

The parkside location has been one of the biggest drivers in purchasing, according to <a href="/developers/mirvac">Mirvac</a>. The Urban community has also marked the great location as the biggest key strength of the project.&nbsp;There are few opportunities to be so connected to nature in inner-city Melbourne.

Read more:&nbsp;<a href="/news/vic/on-the-doorstep-of-princes-park-how-mirvacs-prince-parade-takes-advantage-of-its-park-side-location">On the doorstep of Princes Park: How Mirvac's Prince &amp; Parade takes advantage of its park side location</a>

There's also confidence in Mirvac's ability to deliver quality as an ASX-listed developer who has completed a string of apartment developments across Australia over the last five decades.

[smartcode_project:default project_id=4802 project_image_fid=269392]

Designed by <a href="/architects/bates-smart">Bates Smart</a> in collaboration with <a href="/architects/mirvac-design">Mirvac Design</a> and landscaped by <a href="/landscape-architect/jack-merlo">Jack Merlo</a>, Prince &amp; Parade comprises one, two, three, and four-bedroom apartments.

The fully electric Prince &amp; Parade features a residents' lounge and dining room, as well as a rooftop terrace with extensive panoramic views of Melbourne.

Prince &amp; Parade is just four kilometres from the CBD and is within walking distance of the historically vibrant suburbs of Melbourne's inner north. It's also just a short walk to Jewell Train Station and Royal Park Train Station.

Early site works by <a href="/builders/mirvac-construction">Mirvac Construction</a> have commenced, with Prince &amp; Parade's completion slated for June 2026.

[smartcode_project_cta:default project_id=4802]

Location and brand recognition drive sales at Mirvac's Prince & Parade apartments in Brunswick

Bellevue Hill's dress circle Victoria Road is set for a new apartment development, with the Woollahra Council signing off on a boutique block of 12 apartments near&nbsp;

Local developers Mark Alexander and Eugene Shaw are behind the $11 million plans for the 1,107 sqm block at&nbsp;<a href="/new-apartments/214-218-victoria-road-bellevue-hill">214-218 Victoria Road</a>, an amalgamation of three sites backing onto Cooper Park on the corner of Victoria and Old South Head Road.

Two semi-detached dwellings and a standalone home will make way for the&nbsp;Bureah SRH-designed, five-level building that will offer a mix of one, two and three-bedroom apartments.

The sole one-bed spans 60 sqm, the two-bed apartments start from 77 sqm and the three-bedroom units from 110 sqm. They will sit above 25 parking spaces.

Architect Simon Hanson's&nbsp;Bureah SRH said in their submissions to the Woollahra Council that the project is designed to integrate into the site and the locality and reflect the style and design of character provided for in the Council's future vision for the area.

"The project has grown through a thoughtful design process which has fundamentally addressed the demand for quality outcomes for residents and the wider Eastern Suburbs community," the report noted.

"The design concept for this proposal has grown simultaneously from the consideration of the surrounding natural landforms and future urban requirements. The development strives to enhance and engage the public domain through a range of architectural devices. The articulated built form establishes a significant street presence. The site is situated on a major intersection of Victoria Road and Old South Head Road.

"Architectural devices such as fixed horizontal privacy screens, planter boxes create a distant presence busy street frontage and provide an acceptable level of privacy protection. The relationship between the apartments and the public domain is further enriched by an open landscaped private open space on ground floor and large balconies on the upper levels."

Mark Alexander and Eugene Shaw have worked in the area before. Their most recent project was on Boronia Road where they developed the luxury Tesoro building.

Mark Alexander and Eugene Shaw have worked in the area before. Their most recent project was on Boronia Road where they developed the luxury Tesoro building

First look: New apartments greenlit on Bellevue Hill's dress circle Victoria Road

Developer <a href="/developers/toohey-miller">Toohey Miller</a>'s descent on Elizabeth Bay is set to continue with the approval of their second development in the harbourside suburb.

<a href="/developers/toohey-miller">Toohey Miller</a>, led by local&nbsp;Nick Couloumbis, has been given the green light for&nbsp;<a href="/new-apartments/barncleuth-square-elizabeth-bay-4-4a-barncleuth-square-elizabeth-bay-nsw-2011">Barncleuth Square</a>, a collection of just 10 large owner-occupier apartments designed by SJB with views over Ruushcutters Bay.

The project, at 4-4a Barnclueth Square, will replace a mid-1960s block with over 20 apartments, a block that took about 12 months to put together.

Couloumbis says&nbsp;Elizabeth Bay is a very desirable area.

"It's a stone's throw from the best restaurants in Sydney. Some people call it the Soho of Sydney,"&nbsp;Couloumbis says.

<img alt="Barncleuth Square site" data-entity-type="file" data-entity-uuid="483769aa-eb6e-4626-bc75-2868680f9377" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/BarncleuthSquare%20site.jpg?VersionId=.AI3BVN65yVj6.hzbEWJMqgtYBjZlZAb" />

In their Design Statement submitted to the City of <a href="/new-apartments/sydney-nsw">Sydney</a> Council, SJB said that Elizabeth Bay is part of the densest urban area in Australia with its own population of around 5,000 people.

"With limited space, many apartment buildings are vying for high levels of amenity," the report noted.

"This proposal offers relief to the density, with only 9 apartments proposed for the site."

The design is in keeping with the Art Deco apartment-style which boomed in the 1930s. A significant number of those buildings developed nearly a century ago are now heritage-listed.

SJB says the facades of the surrounding four to seven-storey apartment buildings&nbsp;are intricately detailed in playful arrays of textures and patterns.

<img alt="First look exclusive: Toohey Miller file for Elizabeth Bay apartments" 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/Screenshot%202023-05-22%20at%2012.27.08%20pm.png?VersionId=ubhuQzortjDY1z.evYQNZshchvZEk0Eg" />

Situated just a street back from Macleay Street, known as Sydney’s most desirable high street, Barncleuth Square’s five-storey brick design is in keeping with the evocative forms of its Art Deco neighbours.

Sustainability is a key focus of the project, with initiatives such as a green roof to reduce building energy, cross-ventilated apartments, and the use of locally sourced bricks from Australian manufacturers.&nbsp;

<img alt="First look exclusive: Toohey Miller file for Elizabeth Bay apartments" 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/Screenshot%202023-05-22%20at%2012.27.15%20pm.png?VersionId=T2XSoTbivDFWh4xaUSCXDbxJt4nArfXk" />

Toohey Miller has had a long history in Elizabeth Bay. Couloumbis' grandfather founded the company in 1955 when it was an architectural business.&nbsp;

Toohey Miller is currently developing <a href="/new-apartments/no-1-onslow-place-elizabeth-bay-1-onslow-place-elizabeth-bay">No.1 Onslow Avenue</a> in <a href="/new-apartments/elizabeth-bay-nsw-2011">Elizabeth Bay</a>. That has just six full-floor apartments, three of which sold within the first few weeks of its late 2023 launch.

They are also working in a joint venture with Third.i in the neighbouring <a href="/new-apartments/potts-point-nsw-2011">Potts Point</a>, where they're currently developing <a href="/new-apartments/muse-potts-point-30-34-brougham-street-potts-point">Muse Potts Point</a>, just 15 apartments off Victoria Street.

[smartcode_project_cta:default project_id=140184]

Toohey Miller is currently developing No.1 Onslow Avenue in Elizabeth Bay, as well as Muse Potts Point with Third.i



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