Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

apartment

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GUEST OBSERVER
The planning system in New South Wales must support apartments that are affordable.
Our research into the cost of apartments in Sydney has found that planning rules make them more expensive than in other Australian cities.
We have outlined the results of our research in a publication titled ‘Affordable Apartments’ which looks at global trends to help reduce the cost of urban housing.
In New York there has been a move towards ‘Micro Apartments’ that can be as small as 30 square metres as long as they are located close to jobs and amenities. Sydney can learn from the New York initiatives as part of a focus on housing affordability.
One area where initiatives are being undertaken in NSW is the move towards New Generation Boarding Houses.
A number of small studio apartments of around 25 square metres are able to share common facilities in buildings that are only built to rent.
These smaller units are able to bypass many of the NSW planning rules on solar access and minimum sizes under the Affordable Rental Housing State Environmental Planning Policy (SEPP) 2009.
The NSW Government should encourage a greater use of building like McCarthy Maisonettes as outlined in our publication.
The Urban Taskforce research also compared the NSW Apartment Design Guide requirements with the Victorian equivalent Better Apartment Design Standards document and found that $150,000 could be saved from the purchase price of a NSW two bed apartment if the Victorian rules were applied.
The Urban Taskforce believes the NSW Government needs to seriously look at its well-meaning planning rules that apply to apartment design in the interest of affordability.
A special category should be established for Affordable Apartments in urban locations where there are many amenities including public transport.
Another category should be established for high rise city locations where it is difficult to achieve the winter sun access to 70 percent of apartments required by the Apartment Design Guide.”
The NSW Apartment Design Guide has 180 pages packed with micro details while the Victorian Better Apartment Standards which was produced after an analysis of the NSW version has only 40 pages with much more flexibility.
The Victorian document took affordability into account in its approach to setting planning rules for apartments.
The development industry in NSW is keen to help consumers with the delivery of more affordable apartments but this will need a number of planning standards to be amended.
The Urban Ideas publication on “Affordable Apartments” can be accessed <a href="https://www.urbantaskforce.com.au/urbanideas/august2017/?page=1" target="_blank">here</a>.
CHRIS JOHNSON is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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Planning support needed for affordable apartments: Chris Johnson

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Horse owner Greg Ingham and wife Barbara have listed their redundant Yamba retreat in northern New South Wales due to being based overseas.
Ingham, the owner of gelding Chatauqua, paid $2.85 million for the <a href="https://www.realestate.com.au/property-apartment-nsw-yamba-126147662" target="_blank">beachfront apartment</a> known as On The Rocks in 2009.
Ray White Yamba agent Daniel Kelly and Barry Quinn at Ray White Rural Brisbane have set a September 15 auction date.
They are advertising the two level On The Rocks unit as one of the finest properties Yamba has to offer.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/25/2_6%20Ocean%20Street-2.jpg" alt="">
The proceeds could possibly go to the pricey entry to the upcoming Everest race at Royal Randwick.
It will stand as the most expensive race in the world on turf, with the winner grabbing $10 million. Entry is pricey however at $600,000.
The TJ Smith Stakes winner is set to be ridden by Sydney jockey Tommy Berry.
Chautauqua heads into the race as the $4.80 favourite.
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Horse owner Greg Ingham lists Yamba beachfront apartment

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GUEST OBSERVER
The lumpy result in monthly building approvals data continues, with total dwelling approvals up by 10.9 per cent in the month of June 2017.
However the longer term trend shows sustained weakness with total approvals down by 2.3 percent over the year to June, particularly for apartments.
Given the boom in apartment construction in the past couple of years it is to be expected that the fall in approvals is predominantly coming from this segment of the market.
Approvals for apartments and town houses fell by 6.6 per cent over the year-to June 2017, while approvals for detached housing actually increased by 1.4 per cent.
A result in line with Master Builders forecast outlook for a fall in apartment commencements over the next four years.
But there remains a housing shortage in Australia of around 100,000 dwellings and it would be concerning if the current weakness in approvals turns into low housing commencements leading to supply constraints that can push up house prices.
We can’t lose sight of the fact that increased population growth and other factors of underlying demand mean we need to build at least 180,000 new homes each year for the next five years.
Matthew Pollock is Master Builders Australia’s National Manager for Economics and Housing and can be contacted <a href="https://www.masterbuilders.com.au/Home" target="_blank">here</a>.
 
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jchancellor-FAypfDUnLy

Approvals show apartments are taking the brunt of the fall

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A one bedroom City apartment has sold for $425,000 making it Canberra’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-apartment-act-city-125931590" target="_blank">3/1 The Mews</a>, the property includes a two storey space.
Built in 2007, it features an open living area and kitchen that opens onto the alfresco area along with high ceilings and a wall of glass.
The kitchen features stainless steel appliances.
Upstairs is the study, bedroom with walk-through robe, ensuite and balcony.
The property has direct street access and one car space with direct internal access.
It also offers a pool, sauna and BBQ area.
The property was offered through Luton agents Richard Luton and Sophie Luton.
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j.ballantyne1990-6AQqhLzZaK

One bedroom City, ACT apartment sold for $425,000

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A one bedroom Newtown apartment has been sold for $425,000 making it Sydney’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-newtown-125787718" target="_blank">24/104 Alice Street</a>, the property has north easterly district views.
Built in 1960 the property was last sold in 2006 for $160,000.
It sold in 2003 for $265,000.
It has a fresh open layout with kitchen that includes stainless appliances and dishwasher.
The property is 12 minutes from Newtown Station.
The Bell Jar Café is just downstairs while supermarkets are two blocks away.
The property was offered through Ray White agent Spiro Deligiannis.
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One bedroom inner west Newtown apartment sold for $425,000

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The former newsreader Helen Kapalos sold her "Offspring style" Collingwood factory conversion apartment at weekend auction.
<a href="https://www.realestate.com.au/property-apartment-vic-collingwood-125771062" target="_blank">Set in the sought after Foy &amp; Gibson precinct</a>, Kapalos’s two-bedroom, two-bathroom apartment, along with two car spaces, fetched $1.3 million.
The initial price guidance was between $980,000 to $1,078,000, but the guide for the two level apartment was raised to $1,095,000 to $1,204,5000 during the marketing after strong interest.
Abercromby's agents Sam Goddard sold the apartment to a couple in their 60s from regional Victoria who will use it as a city base, the Herald Sun reported.
The lower level features an open plan living, dining and kitchen area.
Its master retreat with ensuite sits on the upper level.
Kapalos paid $755,000 for the apartment in 2012 in the Bohemia block, just before her contract wasn't renewed by Network Ten who were cutting costs in the news room.
In 2013 Kapalos began presenting Today Tonight on the Seven Network but Kapalos then left commercial TV to direct documentaries.
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Helen Kapalos sells her Offspring-style Collingwood factory apartment

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Queensland coal miner Brian Flannery, who debuted on the Rich List in 2008 thanks to a half-stake in the mining company Felix Resources, sold his Sydney bolthole for $3.65 million at auction yesterday.
Flannery, now the managing director of coal company White Energy, paid $1,325,000 in 1999 for the 122 sqm apartment that is in original condition.
The sixth floor, two bedroom apartment has views across to the Royal Botanic Gardens and down Macquarie Street to the Opera House.
It sold through Morton agent Ettiene West.
Flannery and wife, Peggy love in an $8.55 million apartment on the Brisbane River.
Felix Resources was sold for $530 million to Yanzhou Coal in 2009 helped make the Brisbane businessman's fortune.
This article first appeared in the Sunday Telegraph.
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Queensland coal miner Brian Flannery sells Sydney bolthole

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There are various factors that needs to be considered before an apartment could be considered a penthouse, according to Secret Agent’s latest bulletin.
In their latest bulletin, Secret Agent looked into penthouse apartments across inner Melbourne and said besides occupying the top floor of a medium to high rise building, for an apartment to be considered a penthouse, it also had to have a distinguished floor plan.
“Out of 1,908 apartments sold around inner Melbourne since January 2016 to May 2017, there were only 21 penthouse apartments," Secret Agent said.
“All of these were new, post-90s builds except for 2 warehouse conversions.
“These penthouses were concentrated around the CBD, inner East and inner South suburbs.
“Note that our results were skewed towards the sub-$3 million penthouse market, as information on apartments sold above this value is generally less accessible.
“Most of the apartments in our study are not whole-level penthouses,” the bulletin stated.
Penthouse apartments are much higher than the average price of apartments the group says.
“Unsurprisingly, the average price per square metre of penthouses ($11,076/sqm) is approximately 27% higher than the inner Melbourne average ($8,724/sqm).
“The price per internal square metre of these penthouses decreases as the number of bedrooms increases.
“Generally, 3 and 4 bedroom apartments command higher prices per unit of floor area compared to 2 bedroom apartments due to the oversupply in the broader market.
“However the opposite is true with penthouses, both in terms of price and supply, although there is insufficient data for this to be conclusive,” the bulletin commented.
Penthouse internal spaces are much larger than the average apartment as is the size of the outdoor area.
“2 bedroom penthouses (139sqm) are twice as big as the average 2 bedroom apartment (69sqm).
“As the size of the apartment increases, this difference starts to fall, with 3 bedroom (118sqm) and 4 bedroom (198sqm) apartments closing the gap with their penthouse equivalents (157sqm and 192sqm, respectively).
“While we can safely assume that penthouses are usually larger than your average apartment, there is no consistency in the size of outdoor area.
“Some penthouses have as little as a 7sqm balcony (equivalent to the median balcony size of an average apartment), to as much as a 237sqm private rooftop terrace.
“Through observation this is usually dependent on the individual apartment building; if the rest of the building has little to no private outdoor space, the penthouse is no exception,” the bulletin advised.
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<img src="https://www.urban.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%2011.18.48%20AM.png" alt="">
For more information, <a href="https://secretagent.com.au/" target="_blank">click here</a>.
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Factors behind Melbourne penthouse apartment market: Secret Agent

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An apartment in the new Circular Quay development Loftus Lane has sold for $17 million.
Despite the apartments not officially launching until tomorrow, one locally well-heeled buyer has snuck in to pay around $57,000 per sqm for the 296 sqm apartment offering.
It falls short of the $96,400 per sqm paid for the $27 million record breaking apartment sale in the Opera Residences last year.
That was reputedly bought by businessman and philanthropist Robert Salteri and his wife Kelly.
The Loftus Lane two storey unit on level 12 of the low-rise building has three bedrooms and sits in one of the three residential buildings developed by AMP Capital.
Completion of the buildings is slated for 2021 as part of the AMP Capital developed project to upgrade Circular Quay.
Some potential buyers have been underwhelmed by Loftus Lane, which comprises 106 apartments in three low-rise buildings.
 
 
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Loftus Lane apartment sells for $17 million

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The majority of apartments in Melbourne are failing to meet all the minimum requirements, according to Secret Agent’s latest report.
Secret Agent said compared recently built apartments with the Better Apartments Design Standards and found inner Melbourne's apartments lacking.
"What we found only confirmed our intuitive assumptions of inner Melbourne’s apartments: they’re generally hard to live in,” the report stated.
"Of the 3000 apartments that were surveyed only 9 passed.
“While our full report dove into detail about each standard, this bulletin sums up the results of the overall study to shed light on the bigger picture (see Table 1).
<a href="https://www.propertyobserver.com.au/images/2017/05/03/Screen%20Shot%202017-05-03%20at%2012.11.00%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/03/Screen%20Shot%202017-05-03%20at%2012.11.00%20pm.jpg" alt="">
"We sampled 3000 apartments built in the last 6 years across 21 suburbs in Melbourne.
"Overall, 99.7 percent (2,991 apartments) failed to meet all the minimum requirements.
"Only 9 apartments passed the seven standards we assessed (main bedroom dimensions, smallest bedroom dimensions, living room dimensions, private open space, windows, room depth, storage).
"Out of these, 4 were 1 bedroom units, and 5 had 2 bedrooms,” the report advised.
The group then went to list the errors or faults that they found in the surveyed apartments.
Private open space
94.2 percent (2,826 apartments) had balconies that were too small, or had none at all.
Bedroom and living room dimensions
92.3 percent (2,770 apartments) were too small in terms of both bedrooms and living rooms, failing to meet all minimum dimensions.
Accessibility
84 percent (2,520 apartments) had either bathrooms or corridors that were too small. These failed accessibility standards.
Natural ventilation
70 percent (2,100 apartments) were not well-ventilated. Most of these only had windows on one side of the apartment, with the opposite wall facing the internal corridors.
Windows
52 percent (1,560 apartments) did not provide adequate sunlight to bedrooms. More than half of our sample either had no windows to their bedrooms, or had ‘snorkel’ windows that were deeper than allowed.
Room depth
15.6 percent (468 apartments) were too deep, reducing natural light in parts of the living and dining areas,” the report stated.
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