<a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA</a>&nbsp;doesn’t just rise over North Sydney, it redefines it. Now in its final release, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>’s $1 billion architectural statement is not just complete, but already reshaping the way people live, connect and dine in this rapidly evolving harbourside CBD.

Positioned beside the new Victoria Cross Metro Station and boasting panoramic views across Sydney Harbour, Aura’s 386 residences crown a mixed-use precinct designed with unapologetic ambition. The curvaceous sandstone-inspired form by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, paired with <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richard Stanisich</a>’s understated interiors, sets a design tone that’s both monumental and intimate.

At its peak, literally, the two penthouses so spectacular they command their own names; La Davina and Il Magnate. The residents are spread across the&nbsp;entire top floor, offering what many consider the most refined residences ever built in North Sydney. Designed by Richard and Kirsten Stanisich, each four-bedroom home is meticulously crafted to evoke calm, space, and permanence.&nbsp;

<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/VB70993aG-I?si=adRBlXQliYmYvaSz" title="YouTube video player" width="560"></iframe>

The kitchens are fully wrapped in natural stone, with integrated Gaggenau appliances, Sub-Zero fridges, concealed sculleries, and even a zip hydro tap delivering boiling, chilled and sparkling water on demand. A linear stone fireplace anchors the open-plan living space, dividing lounge and dining zones with quiet sophistication.&nbsp;

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The master suite, meanwhile, feels more like a private retreat, complete with a custom stone makeup vanity, walk-through dressing area, and spa-inspired ensuite with heated stone floors, a freestanding Villeroy &amp; Boch tub, and timber veneer joinery throughout.

Kirsten Stanisich, Director of Richards Stanisich, said the penthouses offer incredible scale reflective of a single residence.&nbsp;

“We sought inspiration for these remarkable residences from the classic top-floor Parisian apartment," Stanisich said.

"We looked at what made these French apartments so elegant and found it really came down to their scale. It was ultimately this generosity of space that we used for the AURA penthouses, where we’ve designed considered rooms with deep large-scale proportions."

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Everyday living at Aura feels no less elevated. A dedicated 24-hour concierge, Technogym fitness centre, sky dining terraces, and a resort-style pool serve a lifestyle designed to rival luxury hotels.

At street level, Aqualand’s own hospitality arm, Etymon Projects, curates a precinct of LA-style bistros, Japanese fine dining, and local wine bars, all seamlessly integrated into the building’s sculptural podium.

[smartcode_project:default project_id=30959 project_image_fid=310337]

This final chapter, aptly dubbed The Finale, is more than a sales phase, it’s an invitation to two of the most exclusive apartments ever to be built in North Sydney.

With limited residences remaining, buyers can access curated incentives including stamp duty rebates, rental guarantees, legal fee coverage, and even $20,000 towards dining within the precinct.

From generous one-bedders to The Icons, two singular penthouses priced well into prestige territory, Aura’s offerings reflect a scale and calibre rarely seen in urban Sydney. And with move-in now immediate, this is no longer a promise of future luxury. It’s happening.

[smartcode_project_cta:default project_id=30959]

Staff Writer

Aqualand unveils penthouse collection at AURA By Aqualand in North Sydney

There’s no sign of the development wave that began several years ago slowing along Old Burleigh Road.

Around 10 new apartment developments are either underway or preparing to launch along the 800-metre strip stretching from the southern edge of Surfers Paradise towards the heart of Broadbeach, collectively adding just shy of 1,000 new apartments to the beachfront corridor.

The latest plans propose a further 30 apartments to replace an original six-unit walk-up on a 658 sqm site at <a href="https://www.apartments.com.au/new-apartments/20a-old-burleigh-road-surfers-paradise-qld-4217">20A Old Burleigh Road</a>. The 14-storey building has been designed by Ferro Chow Architecture, which recently joined the Elevation Architecture Group.

The developer behind the project is Geoffrey Booth, whose Future Liv In has focused on delivering rental accommodation across regional Australia.

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="99d393e7-d404-43bc-80cb-6255c39b83d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.44%E2%80%AFPM.png?VersionId=ZFT8F3mOny4M4ut.kFF3woC9WH9oR5gT" />

The Old Burleigh Road development will comprise 18 two-bedroom apartments, 10 three-bedroom apartments, and a single four-bedroom residence occupying the entirety of level 12. Above, the building will be crowned by a two-storey penthouse with its own private lift, several multi-purpose rooms, and two rooftop terraces — one featuring a puppy lawn and spa, the other offering a private swimming pool, sunset deck, and built-in barbecue.

Resident amenities will be located on the second level and include a pool with adjoining spa, cabana, and pool deck, along with an indoor residents’ lounge featuring a bar and an alfresco barbecue kitchen.

In the architectural statement submitted by Elevation Architecture, the project is referred to as “UMI”, which the firm says has been “inspired by the majestic hinterlands and shaped by the coastal climate”.

“It is an exemplar of how community living can still feel at one with nature, breathable, and deeply connected in place,” the architects noted.

They added that the site benefits from established building separation to adjoining towers, helping to maintain privacy, sunlight, and residential amenity, while still offering direct beach access within an urban setting.

“Drawing inspiration from the Gold Coast hinterlands and the region’s natural landscape, the podium and tower detail highlights the contrasting elements of treetop green and cliff-face peach. The vibrant texture and materiality shaped by time has a richness in depth and character.”

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="b3d6c923-a0ab-4d74-86da-177313447e8e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.38%E2%80%AFPM.png?VersionId=i2fygmoVQM6hWpbATTAW_yTitoMTrnI1" />

Old Burleigh Road has become a hotspot for developers, with the three-tower Jewel development kickstarting a wave of projects up and down the strip when it was completed in 2020.

Currently under construction and approaching completion is <a href="https://www.apartments.com.au/new-apartments/faro-broadbeach-123-old-burleigh-road-broadbeach-qld-4218">FARO Broadbeach</a> by 5Point and Bottega, 21 large-scale half- and full-floor apartments. 5Point is also behind the recently launched <a href="https://www.apartments.com.au/new-apartments/lumara-108-old-burleigh-road-broadbeach-qld-4218">Lumara</a>, another 37 apartments to add to the pipeline.

Luxury builder GRAYA is progressing construction on <a href="https://www.apartments.com.au/new-apartments/enclave-by-graya-118-old-burleigh-road-broadbeach-qld-4218">Enclave</a>, its first Gold Coast tower, while Polycell remains the most active developer on the street. They are preparing to launch <a href="https://www.apartments.com.au/new-apartments/sandpiper-broadbeach-155-old-burleigh-road-broadbeach-qld-4218">Sandpiper</a>, a 50-storey redevelopment of the former Sandpiper Holiday Resort that will deliver around 200 apartments alongside extensive resident amenity. The group also has another 130-apartment project approved nearby, as does <a href="https://www.apartments.com.au/news/qld/dvb-approved-for-second-broadbeach-apartment-development">Dean Gallagher’s DVB Projects</a>.

Joel Robinson

First look: Old Burleigh Road apartment development wave continues

Sunshine Coast developer Habitat Development Group continues to position itself as one of the region’s largest new apartment developers.

Its latest project is in Maroochydore, where it is currently delivering <a href="https://www.apartments.com.au/new-apartments/the-millwell-2-millwell-road-east-maroochydore-qld-4558">The Millwell</a>. Adjacent to the new 53-hectare Maroochydore City Centre project, Habitat is planning a further 180 apartments on a 3,468 sqm site at <a href="https://www.apartments.com.au/new-apartments/132-136-aerodrome-road-maroochydore-qld-4558">132–136 Aerodrome Road</a>. The site was purchased with approval for a smaller 13-storey, 103-unit building.

Habitat will demolish the two existing retail centres, currently home to the Salvation Army Family Store and Neighbours Aid, and replace them with an 18-storey building featuring the significant rooftop amenities that have become a hallmark of Habitat developments in recent years. The rooftop will include both indoor and outdoor spaces, anchored by an infinity swimming pool.

<img alt="Maroochydore" data-entity-type="file" data-entity-uuid="ad434d07-666b-4614-b33e-530ad6a2d261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.33%E2%80%AFAM.png?VersionId=7pyLsPWKQuwv0us3_v.9DmbzEc2VZe9Z" />

There will be a mix of one- to four-bedroom apartments.

The Development Assessment Report, submitted to the Sunshine Coast Council, says the proposal&nbsp;is not speculative, but a response to both zoning intent and demonstrated housing need.

“The proposed development represents an appropriate and logical intensification of the site, consistent with the planning framework and the intended urban outcomes for the locality.”

Across the Sunshine Coast, councils are increasingly scrutinising not just height or yield, but whether new projects genuinely align with the long-term structure plans underpinning growth corridors. The&nbsp;ASTP Planning Report&nbsp;reinforces the approach, noting that the project has been shaped around site responsiveness rather than generic typology.

“The development has been designed to respond to the physical constraints and opportunities of the site, while delivering a high-quality residential outcome that integrates with the existing and emerging urban context.”

<img alt="Habitat" data-entity-type="file" data-entity-uuid="3a03fc54-4ca5-4868-88d0-eeced70604e2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.28%E2%80%AFAM.png?VersionId=1pkK3lJrrZjkghTLBReM2zatcas4Nc4B" />

In mid-2025, Habitat, a developer that also builds its own projects, commenced construction on The Millwell, located just over one kilometre from the new proposal. The Millwell will comprise more than 200 apartments across two eight-storey buildings.

Habitat also has two projects on Lake Kawana in Birtinya: <a href="https://www.apartments.com.au/new-apartments/st-clair-birtinya-930-931-waterside-retreat-birtinya-qld-4575">St Clair</a>, a 200-unit, two-building development launched last year and set to welcome buyers this year; and Esperance, a 175-apartment project currently progressing through the development approval process.

First look: Habitat continues to bolster Sunshine Coast apartment pipeline with Maroochydore development plans

John Camilleri, the breeder of legendary racehorse Winx, is set to deliver a landmark two-tower beachfront development that would redefine the Surfers Paradise skyline.

Camilleri, who spent around $100 million acquiring development sites across the Gold Coast in 2025, has lodged plans for two new towers on the dress-circle stretch of Garfield Terrace, just two days before Christmas.

In assembling the site, Camilleri's Celestino Developments has effectively acquired the 71 Garfield project by Iris Capital and AALTO by Weiya Holdings, creating an unrivalled <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">4,000 sqm beachfront holding along Garfield Terrace</a>.

The proposal comprises two residential towers of 55 and 48 storeys, linked by a dramatic skybridge which will home “exclusive VIP and wellness amenities.”

In total, the development would deliver 275 two-, three- and four-bedroom apartments across the two towers, rising above a shared landscaped podium that incorporates a central green space and a beachfront swimming pool stretching more than 90 metres.

<img alt="DBI" data-entity-type="file" data-entity-uuid="097900f3-6bef-4919-b168-b08f2f762876" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.37.58%E2%80%AFAM.png?VersionId=et0SpmcvaPPVrexI_zWi46BVFtZBxAzx" />

Architecture firm DBI, in documents submitted to Gold Coast City Council, said the project at 63–79 Garfield Terrace would “establish a new benchmark for beachfront residential living on the Gold Coast.”

"The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience. Together, the 48-storey North Tower and 55-storey South Tower form a distinctive twin-tower composition whose dynamic silhouette will make a significant contribution to the Surfers Paradise skyline."

DBI said the architectural language draws inspiration from the fluidity and movement of the coastal landscape.

"Each tower is defined by organic, curving forms and continuous balcony ribbons that wrap the buildings, providing deep shading, enhancing environmental performance, and reinforcing the rhythmic, sculptural expression of the façade. These balcony forms also reduce the apparent mass of the towers while maintaining strong visual continuity from podium to summit. Sculpted reflective downturns run along the western spine of both towers, shifting and lifting as they extend upwards to frame service zones and open eastward to maximise ocean views."

<img alt="Garfield" data-entity-type="file" data-entity-uuid="a2a00ce3-a0e9-45d6-b4b5-b7baed592ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.53.40%E2%80%AFAM.png?VersionId=DnruWV1dhLrtXOeElwekyd7vPq2gw55t" />

The project’s most striking feature is the skybridge at level 45, which will house executive lounges, formal dining spaces, wellness facilities and panoramic ocean-facing views.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI added.

The podium will host an extensive suite of recreational amenities, including resident lounges, private dining rooms, a large open green lawn, and the signature 90-metre pool stretching along the beachfront. The pool is divided into lap, lounge and children’s zones.

The southern end of the podium will accommodate additional wellness facilities, including a gymnasium, plunge pools, treatment rooms and a dedicated yoga lawn.

<img alt="Garfield" data-entity-type="file" data-entity-uuid="ee1b4f25-231f-4804-83b1-a573a1481962" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.55.47%E2%80%AFAM.png?VersionId=zObzIA3D5w7EwqPsHjr2pKrA4vbB28zL" />

There will be 127 apartments in the North Tower and 148 in the South Tower, including multiple penthouses, while the Enderley Avenue and Oceanway frontages will be activated by a series of food and beverage tenancies.

Camilleri emerged as the most active site acquirer on the Gold Coast in 2025. He spent just over $30 million acquiring Pacific Point, a 10-level Surfers Paradise apartment block and an adjoining three-level duplex, from fellow racing identity and Aquis billionaire Tony Fung. Plans are now underway for a 93-apartment, 40-storey tower on the 1,682 sqm site.

He also paid $53.65 million for the 1,500 sqm Garfield Terrace site previously marketed as AALTO by Weiya Holdings, before acquiring the adjoining parcel from hotel billionaire Sam Arnaout’s Iris Capital, the developer behind V&amp;A Broadbeach.

First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge

The Melbourne-based HLA Group is the latest developer to expand into South East Queensland, lodging plans for a unique mixed-use short-term accomodation and apartment building in Taringa, with the building design inspired by the Glasswing Butterfly.

The development application for 10 Morrow Street seeks approval for a total of 232 dwellings, comprising 116 residential apartments and 116 short-stay accommodation units. The build-to-sell residential component is made up of 31 one-bedroom apartments, 67 two-bedroom apartments, 17 three-bedroom apartments, and a single four-bedroom apartment, offering a diverse mix aimed at singles, couples, families, and downsizers.

<img alt="Taringa" data-entity-type="file" data-entity-uuid="33913cd4-9839-4456-b325-d35b3f8b4694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.40.26%E2%80%AFPM.png?VersionId=sLvc7jUrYzDwqPDZBPrXTosKHDSp.qrt" />

Designed by Ellivo Architects, the tower takes strong inspiration from nature, with the architectural language driven by one of Queensland’s most delicate species. As described in the planning documents submitted to Brisbane City Council, Ellivo Architects state the design is “inspired by the elegance of the Glasswing butterfly," and mirrors the graceful sweep of its wings, a form that feels light, fluid, and alive.

“Lush subtropical greenery is throughtfull woven throughout, transforming the building into a sanctuary in the heart of the city.”

The proposal positions the building as more than a conventional residential tower, with Ellivo Architects describing 10 Morrow Street as “an urban oasis that blends short term accomodation with residential living. A destination for rest, relaxation, and renewal.”

<img alt="Taringa" data-entity-type="file" data-entity-uuid="84e9a0ff-464e-4973-bffe-5d5a8fe9f087" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.40.32%E2%80%AFPM.png?VersionId=dhX9eVgUaQE2TvCzJPhF8N8_hzYSKpyK" />

Formally, the building’s massing and floorplate are directly shaped by its butterfly inspiration. Ellivo explain that, “adopting the wings of the Glasswing Butterfly, the tower's plan is divided into four distinct quadrants, each shaped to mirror the wing's segmented geometry and taking the slender ‘veins’ up the facade of the tower.”

"This approach results in a sculpted tower form with articulated façades and a strong vertical expression."

<img alt="Taringa" data-entity-type="file" data-entity-uuid="5947011d-ff6c-4a57-bdc1-9072a472a79c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.40.29%E2%80%AFPM.png?VersionId=nnGqd4WCZM8AOJZY.c3u49BO4LurKRhb" />

The Assessment Report by Human Habitats said the 19-storey tower capitalises on its strategic connectivity and prominence at the entrance of Taringa Village and adjoining the Taringa Station.

"The proposal offers a significant revitalisation of the subject site that integrates architectural excellence, innovation, and sustainable design to directly address long-standing connectivity and safety challenges, housing supply , and diversity together with enhanced streetscape activation and convenient access to major transport corridors."

HLA Group Australia is registered to South Yarra and is currently delivering Adamson No.5, just 15 luxury apartments that start from around $2 million.&nbsp;

The Butterfly Effect: Glasswing butterfly inspires Taringa apartment development

Construction

The prominent Sunshine Coast developer Cube Developments has launched their own&nbsp;construction arm in an attempt to cruise over the&nbsp;currently problematic&nbsp;Australian&nbsp;construction industry.

Cube Constructions will be led by&nbsp;Michael Crocker,&nbsp;whose long career saw him lead the likes of Hutchinson Builders and NCM Constructions.

Director of Cube Developments Scott Juniper said taking the builds of upcoming projects in-house was a natural evolution for the company due to the team&rsquo;s expert mix of design, build, trades and consultancy.

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&ldquo;Our team has a strong history of delivering high-quality projects across the Sunshine Coast. Couple this with the long running expertise that Michael brings to the venture as Head of Construction, we are confident that we are in the best position to deliver our projects from start to finish,&rdquo; Juniper said.

&ldquo;We&rsquo;re looking forward to giving both existing and new purchasers the confidence that when they sign an off-the-plan contract that it&#39;s something that can and will come to fruition, and in a timely manner.&rdquo;

With a recruitment drive underway, Crocker said the new venture will create plenty of new jobs in the region, including project managers, safety officers and site foreman.

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&ldquo;Following the huge demand for property experienced here on the coast over the last 18 months, we have more than 500 residences in the pipeline across five Cube Developments projects, all of which will be built by Cube Constructions,&rdquo; Crocker said.

The first project to commence under Cube Constructions is Nature by Cube in Cotton Tree with works scheduled to start mid-July, followed by the construction of Oasis in Bokarina Beach and Seasons by Cube in Birtinya.

The announcement comes at a critical time in the Australian building sector, with over 16 large firms having collapsed since 2021, leaving developers with unfinished projects, thousands of Australians without jobs and just as many would-be homeowners empty handed.

Cube Constructions will be led by Michael Crocker, whose long career saw him lead the likes of Hutchinson Builders and NCM Constructions

Sunshine Coast developer Cube launch construction arm

Lendlease Development has appointed the local Melbourne builder, Balmain &amp; Co, to construct their latest Richmond project, Gramercy Terraces.

The industrial brick fa&ccedil;ade will be built by the Melbourne construction company, which has previously collaborated with SMA Projects and CDG Developments.

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&ldquo;A trusted development team has never been more important than now. Lendlease and Bates Smart have partnered seamlessly to present Gramercy Terraces to be delivered by Balmain &amp; Co over the next 12 months&quot;, Bracken Hall&#39;s Andrew Hall said.

&quot;With only two of 14 [townhouses] remaining, the market has seen what we saw, impeccable design and finish in iconic Bendigo St&quot;, Hall added.

Shaped by the heritage precinct of Bendigo Street, the three and four-bedroom freehold homes are designed to deliver grand floorplans and refined contemporary finishes.

Formerly the grounds of &lsquo;Studio Nine&rsquo;, and once the site of the Wertheim Piano Factory, the development&rsquo;s namesake is a nod to music legends and the rich musical history of the site.

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Each residence, designed by architects Bates Smart, features grand floorplans and offer unrivalled space in an exclusive Richmond setting.

Residences in the inner-city development start from $1.945 million, with prices reaching $2.245 million for a four-bedroom townhome.

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With construction commencing later this year and just two properties remaining, this is the last chance for prospective buyers to secure a home at Gramercy.

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Lendlease Development have appointed Balmain & Co to construct their latest Richmond project, Gramercy Terraces

max.kwok_55688

Balmain & Co appointed to construct Lendlease’s Gramercy Terraces in Richmond: All but two townhouses snapped up

Construction has kicked off&nbsp;on Due North, the Preston&nbsp;apartment development by the Melbourne property developer, Caydon Property.

Ironside has been appointed as the construction partner for Due North, having previously worked with Caydon on the Preston Windsor &amp; Co project, six-level building of 125 apartments..

Caydon said they are&nbsp;excited&nbsp;to work with Ironside again, a company that has an successful track record in creating quality apartment buildings.

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&ldquo;As a leader in multi-residential apartment developments, Ironside has shown strong growth year-to-year in the small to medium size residential space,&quot; a spokesperson for Caydon said.

&ldquo;We have every confidence that Ironside will bring their incredible experience, attention to detail, craftsmanship, and enthusiasm to this project.&quot;

Completion for Due North is slated for mid-2023, with groundworks, including excavation and basement retention, have already begun.

Luke Skurrie, the managing director of Ironside, said the company embraced the opportunity to partner with Caydon once again.

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&ldquo;Ironside are thrilled to be awarded Due North. We look forward to delivering another quality development as we continue to build a better Melbourne with&nbsp;Caydon,&quot; Skurrie said.

Located in the hive of Preston South, the focal point of Due North is its impressive rooftop amenity level, complete with a swimming pool with views back to Melbourne.The 12-level develop is located on the popular High Street, jusut 20 minutes from the Melbourne CBD.

Once complete, Due North will home 107 one, two and three-bedroom apartments and three ground-level retail spaces.&nbsp;Over 50 per cent of apartments in the building have already sold.

[smartcode_project_cta: project_id=5502]

Ironside has been appointed as the construction partner for Due North, having previously delivered the Preston Windsor & Co project with Caydon

Caydon Property appoint Ironside to construct Preston apartment development, Due North

The latest Melbourne lockdown has led to some strong enquiry at Omnia, the&nbsp;Moorabbin development in Melbourne&#39;s south-east developed by Shenfield Property.

The one, two and three-bedroom apartments and townhomes are&nbsp;now sold 50 per cent sold.

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Noorden Property director David Lamond attributes this to the generously sized floorplans available at Omnia, ranging from 52 sqm to as large as 185 sqm, which are larger than what is typically on the market.

&ldquo;It is a win-win all the way&rdquo;, he said.

Situated at 4-6 Horscroft Place, Omnia is delivered by boutique developers Shenfield Property and designed in collaboration with Roger Brayshaw Architects.

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Most of the apartments at Omnia face North, offering discerning buyers an abundance of natural light.

The developers are expecting demolition to start during September, with construction to begin shortly after.

With the exception of one buyer, all purchasers so far have been owner-occupiers with some future residents even purchasing two side-by-side to create an even larger residence.

[smartcode_project:default project_id=29048 project_image_fid=80698]

The Shenfield Property development defines modern comfort and style, with proportioned interiors designed by Aldona Padjak and a great selection of living spaces.

Omnia&rsquo;s park frontage lays the foundation for its environmental consciousness, featuring energy-efficient design and an appealing pocket park on the North side of the building, created by Wallbrink Landscape Architecture.

According to the developers, project completion is on track for October 2022, with Shenfield Property leading the building process.

[smartcode_project_cta: project_id=29048]

The latest Melbourne lockdown has led to some strong enquiry at Omnia, according to Noorden Property director David Lamond.

Melbourne lockdown sees Omnia, Moorabbin apartments hit 50% sold, construction to start

Construction has commenced on Lincoln Apartments, the fourth apartment development by property developer Cedar Woods at its Williams Landing masterplanned community in Melbourne&rsquo;s west.

Figurehead Construction has been appointed as the builder for Lincoln Apartments, having previously delivered multiple projects for Cedar Woods across its Victorian communities.

Cedar Woods development director, Callum Knight, joined Figurehead managing director, Joe Grasso, on-site recently for the project&rsquo;s official sod turn.

<figure><img alt="" class="image-article-full-width-580px" height="541" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/210520_lincoln_sod-turn_cal_joe2-crop_1.jpg?itok=RSSD7Mno" title="f Callum Knight, development director at Cedar Woods and Joe Grasso, managing director at Figurehead Construction, breaking ground at the project site" width="580" />

<figcaption>Callum Knight, development director at Cedar Woods and Joe Grasso, managing director at Figurehead Construction, breaking ground at the project site.</figcaption>
</figure>

&ldquo;Our Lincoln project has started construction at an exciting time as we continue to create local jobs and support the construction industry,&rdquo; Knight explains.

Designed by DKO Architecture, the five-storey building will include 69 apartments and features in-house amenities including a gym and a communal rooftop recreation area for residents to enjoy.

Buyers get the opportunity to tailor their apartments, with light or dark palette options of textured timbers, honed stone, loop pile carpet and large format porcelain tiles.

[smartcode_project:default project_id=27675 project_image_fid=70623]

Lincoln Apartments is located within the town centre and will be a short walk from the Williams Landing shopping centre, train station, restaurants and the growing commercial office hub.

According to Knight, amenity has been a key driver in the popularity of the project.

&ldquo;We have developed Lincoln as a project that offers everything residents could possibly need. Being located within the town centre and having access to in-building amenity, purchasers are taking advantage of the value on offer.&rdquo;

[smartcode_project:default project_id=27675 project_image_fid=70625]

Following the ground-breaking of Lincoln Apartments, Cedar Woods has launched a series of boutique apartment stages in response to market demand from owner-occupiers for low-rise, suburban living.

Positioned as one of Wyndham&rsquo;s preeminent suburbs, once completed, the $2 billion masterplanned Williams Landing community will be home to 2,400 dwellings, as well as a thriving commercial and retail precinct.

[smartcode_project:default project_id=27675 project_image_fid=70626]

Located just 20 kilometres from Melbourne&rsquo;s CBD Williams Landing offers a diverse housing mix, train station, shopping, dining, parklands and office precinct, and has created demand from first home buyers, to downsizers and investors who saw the growth potential of the suburb.

Construction completion for Lincoln Apartments is slated for mid-2022.

[smartcode_project_cta: project_id=27675]

Construction has commenced on Lincoln Apartments, the fourth apartment development by property developer Cedar Woods at its Williams Landing masterplanned community

Construction commences at Cedar Woods’ fourth Williams Landing apartment development, Lincoln Apartments

Astute property investors are recognising the potential of Sydney property, with its numerous amenities, leading universities and great employment opportunities.

As free-standing home prices surge and approvals to build new houses reach record highs, homebuyers are looking to the off-the-plan apartment market to find savings on brand-new luxury developments.

For many buyers, a downside to off-the-plan purchases include the long wait for construction but with many projects expected to reach completion before the end of the year, Urban has decided to take a look at five soon-to-be-completed developments offered in Sydney.

1. Georgette, Schofields 
Developer: Positive Investment Enterprise 
Two-bedroom apartments from $535,000

[smartcode_project:default project_id=32227 project_image_fid=93945]

Kew Schofields second stage, Georgette, is expected to reach completion later this year, with 137 apartments available in one and two-bedroom configurations.

Designed by PBD Architects, residents can enjoy light-filled apartments in Sydney&rsquo;s fast-growing north-west.

Delivering a change of scenery from the bustling city setting, Georgette is set amongst lush green spaces for privacy and natural beauty.

[smartcode_project:default project_id=32227 project_image_fid=93951]

Each apartment boasts extended gardens, ample storage and, in partnership with Tesla, state-of-the-art energy and storage innovations.

2. 180 George, Parramatta 
Developer: Meriton 
Two-bedroom apartments from $715,000

[smartcode_project:default project_id=8590 project_image_fid=71711]

Hailed as Parramatta&rsquo;s tallest residential tower, 180 George is a new world-class development that brings beautiful residences with luxury amenities.

Set to reach completion in December, the 767-apartment tower features communal open space, rooftop gardens, a sundrenched podium terrace and barbeque area.

The 1,200 sqm podium gardens complement the adjoining 58-level hotel suites tower.

[smartcode_project:default project_id=8590 project_image_fid=71714]

Within walking distance is the Westfield Parramatta, Parramatta Park and a diverse range of bars and restaurants that line Church Street.

3. Ed.Square, Edmondson Park 
Developer: Frasers Property 
Two-bedroom apartments from $620,000

[smartcode_project:default project_id=5995 project_image_fid=78734]

Estimated to reach completion in December 2021, Ed.Square is the latest innovation from Fraser Property that is set to deliver new net zero energy demand homes.

Situated in Sydney&rsquo;s south-west suburb of Edmonson Park, the homes will produce more energy than they consume, saving residents up to 43 per cent of their energy costs.

Its sustainable features include LED lighting, electric-boosted solar hot water, geothermal heating and will not feature natural gas.

[smartcode_project:default project_id=5995 project_image_fid=78730]

The homes are located within convenient access to an array of shopping, dining and entertainment facilities.

4. Castle Residences 
Developer: United Development Sydney 
One-bedroom apartments from $1,230,000

[smartcode_project:default project_id=7758 project_image_fid=79424]

Anticipated to reach completion before the end of the year, United Development Sydney&rsquo;s sought-after Castle Residences is delivering 131 apartments just off Hyde Park.

The project merges five-star luxury hotel services and amenities with high-end apartments designed by Candalepas Associates.

The construction includes the refurbishment of the 142-year-old heritage-listed Porter House building and will include amenities such as luxurious dining areas, private dining spaces and in-residence catering.

[smartcode_project:default project_id=7758 project_image_fid=150437]

Timeless sculptural alcoves and arches bring together historical and contemporary architecture, while interior styling takes inspiration from Manhattan apartments.

5. Beyond, Hurstville 
Developer: Fridcorp 
Two-bedroom apartments from $850,000

[smartcode_project:default project_id=6798 project_image_fid=140935]

Fridcorp&rsquo;s latest Hurstville development, Beyond, will deliver its residents a number of on-site amenities that match the quality of the world&rsquo;s best hotels before the end of 2021.

Each residence exudes uncompromised quality from every aspect, with one, two, and three-bedroom apartments on offer.

Designed by DKO Architecture, the light-filled interiors boast wide frontages and a refined, contemporary aesthetic.

[smartcode_project:default project_id=6798 project_image_fid=140952]

Among its amenities include a two-podium platform, an outdoor dining and teppanyaki grill, gardens, lobby bar and residents&rsquo; dining.

Urban has decided to take a look at five soon-to-be-completed developments offered in Sydney

The top five Sydney apartments completing construction before the end of 2021

Established in 1991, Hickory has steadily evolved from a family-owned company to a nationwide group of construction specialists.

One of Australia&rsquo;s leading construction groups, Hickory has forged a reputation as an innovative and dynamic company with a commitment to environmental sustainability.

Unlike many other construction companies, Hickory prides themselves on their role as project builders.

The company is self-performing of over 60 per cent of the work on their construction projects, including structure, carpentry and fa&ccedil;ade, enabling them greater control over the project&rsquo;s cost and schedule.

With close to 30 properties built by Hickory listed on Urban, below we take a look at the top five that homebuyers can secure in Melbourne now.

1. <a href="/buildings/yarra-one-16-22-claremont-street-south-yarra" target="_blank">Yarra One</a> 
Address: 16-22 Claremont Street, South Yarra VIC 3121 
Two-bedroom apartments from $725,000

[smartcode_project:default project_id=3127 project_image_fid=31085]

EcoWorld International&rsquo;s second Australian project, Yarra One, offers 247 one, two and three-bedroom apartments in Victoria&rsquo;s South Yarra.

Hickory constructed the Fender Katsalidis-designed tower, which features rectilinear patterns and pure geometry.

One of the most striking elements of the $250 million development is the Claremont Street atrium.

2. <a href="/buildings/hawthorn-park-33-camberwell-road-hawthorn-east?last_source_news_article_id=99979&amp;ref=news_related_project" target="_blank">Hawthorn Park</a> 
Address: 33 Camberwell Road, Hawthorn East VIC 3123 
Two-bedroom apartments from $670,000

[smartcode_project:default project_id=3730 project_image_fid=158928]

Dahua Group&#39;s Hawthorn Park&nbsp;delivers a mix of one, two, three and four-bedroom residences that reimagine the norm of apartment living.

Designed by Rothelowman, the project boasts unparalleled amenities, including Melbourne&rsquo;s first sky pool, theatre rooms and a stunning sky lounge.

The tower also features over 2000 sqm of parkland curated by acclaimed landscape architect Jake Merlo that bring the Hickory-constructed building to life.

3. <a href="/buildings/victoria-vine-1-57-wellington-street-collingwood">Victoria &amp; Vine</a> 
Address: 1-57 Wellington Street, Collingwood VIC 3066 
Three-bedroom apartment prices available upon request

[smartcode_project:default project_id=5117 project_image_fid=24688]

Situated in Collingwood, Victoria &amp; Vine is a new $280 million luxury residential and retail precinct delivered by GURNER.

Set across nine buildings of different materials and heights, the development draws influence from New York&rsquo;s Meatpacking District and embodies a warehouse-style structural design.

Designed by COX Architecture, the homes blend into Collingwood&rsquo;s rich history of industrial factories and feature 11 retail tenancies and 4,500 sqm of resident amenity.

Only three-bedroom apartments remain.

4. <a href="/buildings/east-central-tower-820-whitehorse-road-box-hill">East Central Tower</a> 
Address: 820 Whitehorse Road, Box Hill VIC 3128 
Two-bedroom apartments from $565,000

[smartcode_project:default project_id=3867 project_image_fid=21985]

East central tower is a 30-storey building in Melbourne&rsquo;s Box Hill, delivered by the LongRiver Group.

Designed by Fender Katsalidis, the tower features 301 apartments in one, two and three-bedroom configurations.

The urban paradise boasts 1,500sqm of residential facilities, plus 3000 sqm of combined office and retail space, including a wellbeing centre, pool, yoga studio and gym.

Hickory completed construction on the 30-storey tower in December 2020.

5. <a href="/buildings/victoriana-melbourne-20-queens-road-melbourne">Victoriana</a> 
Address: 20 Queens Road, Melbourne VIC 3004 
Two-bedroom apartments from $745,000

[smartcode_project:default project_id=1979 project_image_fid=78667]

Completed in March 2021 by Hickory, Victoriana delivers 250 oversized two, three and four-bedroom apartments over 41,000 sqm of build form.

Overlooking Albert Park, the 18-storey tower features luxurious amenities and sprawling terraces with panoramic vistas.

Located on one of the most prestigious boulevards in Melbourne, St. Kilda Road, the Rothelowman-designed project features a large heated indoor to outdoor pool, cabana lounges and outdoor gardens.

One of Australia’s leading construction groups, Hickory has forged a reputation as an innovative and dynamic company with a commitment to environmental sustainability

Top five projects Hickory are building in Melbourne in 2021

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Developers Samuel Property and Bracken Hall have appointed Minicon to construct their latest Brighton project, Willow.

The art-deco inspired project, architecturally-designed by Bayley Ward, features layered designs and a striking exterior that integrates into its tree-lined environment. The soft arches and brick façade will be built by Minicon, the smaller project entity of the Icon Group and Kajima Australia.

Willow will feature a collection of two, three and four-bedroom home-sized residences. Its offerings include vast light-filled spaces, biophilic design and soft landscaping by Acre Landscape.

Residences in the bayside development start from $2.175 million, with prices reaching $6.5 million for a penthouse apartment.

With construction commencing early 2021, this is the last chance for prospective buyers to design their home ahead of construction in a complimentary private appointment offered by Bayley Ward.

<h2>Other luxury developments on the market in Melbourne’s Bayside suburbs</h2>

1.    <a href="/buildings/tilli-547-hampton-street-hampton">Tilli, Hampton</a> 
Address: 547 Hampton Street, Hampton VIC 3188 
Three-bedroom residences from $1,190,000

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tilli-547-hampton-street-hampton-7ccdd72a5a4e52304e318a7e8f7435b0_0.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="337" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/tilli-547-hampton-street-hampton-7ccdd72a5a4e52304e318a7e8f7435b0_0.jpg?itok=r-ZQgs98" width="580"></a>

Positioned on the top end of a vibrant Bayside retail strip, Tilli offers luxury in a exclusive location. Delivered by Shenfield Property, Tilli is a collection of eight two and three-bedroom residences.

The three-storey mixed-use project offers residents generous kitchens, terrace space and light-filled living with apartments beginning from $1.19 million.

2.    <a href="/buildings/jasmin-1-wave-street-hampton">Jasmin, Hampton</a> 
Address: 1 Wave Street, Hampton VIC 3188 
Three-bedroom residences from $2,850,000

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/jasmin.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="348" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/jasmin.jpg?itok=ws88z1mn" width="580"></a>

Poised atop Hampton Hill, just one kilometre from the beach, Jasmin offers five high-end apartments amongst Melbourne’s iconic bayside beaches.

Designed by Taylor Pressly Architects, each apartment features three bedrooms, north-facing aspect and private outdoor area.  
</body></html>

Developers Samuel Property and Bracken Hall have appointed Minicon to construct their latest Brighton project

Samuel Property appoints Minicon to build Willow Brighton

With many developments expected to reach completion over the coming year, Urban has decided to take a look at five&nbsp;soon-to-be-completed developments offered in&nbsp;Victoria.&nbsp;&nbsp;

1. <a href="/new-townhouses/addison-walk-williams-landing">Lincoln Apartments, Williams Landing</a> 
Address: 100 Overton Road, Williams Landing VIC 3027 
Two-bedroom apartments from $419,000

[smartcode_project:default project_id=27675]

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lincoln.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/lincoln.jpg?itok=ZUdEgOZp" width="580" /></a>

Set for completion late this year, Lincoln Apartments is located in the centre of the masterplanned community, Williams Landing. Delivered by Cedar Woods and designed by DKO Architecture, the residence features light-filled apartments with balconies, a rooftop garden and a residents&rsquo; gym.

Other offerings include views over the conservation reserve, pleasant greenery and parklands and transport connections.

Cedar Woods is offering investors $15,000 off on their apartment purchases within the project.

2. <a href="/buildings/the-terraces-at-minta-soldiers-road-berwick">The Terraces at Minta, Berwick</a> 
Address: Soldiers Road, Berwick VIC 3806 
Two-bedroom townhouses from $449,900

[smartcode_project:default project_id=27487]

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/minta_townhome.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/minta_townhome.jpg?itok=Ia4t_Fbg" width="580" /></a>

With estimated completion just six months away, Stockland&rsquo;s recent project in Melbourne&rsquo;s south-east expects increased demand from first home buyers. With two-bedroom residences available from $449,900 and three-bedrooms from $529,900, townhomes in the project offer buyers excellent value for money.

Each of the double-storey homes include secure car garages, double glazing, high ceilings and garden landscaping, as well as open-plan living and dining and a fully-fenced garden patio.

3. <a href="/buildings/avenue-by-skelton-14-gleniffer-avenue-brighton-east">Avenue, Brighton East</a> 
Address: 14 Gleniffer Avenue, Brighton East VIC 3187 
Three-bedroom townhouses from $2,290,000

[smartcode_project:default project_id=29935]

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/metr10298_gleniffer-avenue_e01_streetscape.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="290" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/metr10298_gleniffer-avenue_e01_streetscape.jpg?itok=BxXV_LQ6" width="580" /></a>

Brighton East&rsquo;s luxury townhome collection, Avenue, offers nine three-bedroom residences with Japanese and minimalist influence. Revealed in Avenue&rsquo;s latest construction update, which you can view <a href="https://www.youtube.com/watch?v=3PDXqOH-ya4">here</a>, potential buyers are now able to see the project&rsquo;s striking pitched roofs upon arrival to Gleniffer Avenue.

Delivered by SKELTON and designed by ADDARC and Jack Merlo, Avenue offers private balconies, ground-floor courtyards, cascading greenery and bespoke kitchens. Double glazing, custom bathroom cabinetry and 4.4-metre-high gabled windows also feature within these luxury homes.

4. <a href="/buildings/two51-on-swan-245-251-swan-street-richmond">TWO51 on Swan, Richmond</a> 
Address: 241-251 Swan Street, Richmond VIC 3121 
Two-bedroom apartments from $1,030,000

[smartcode_project:default project_id=3298]

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/two51-on-swan-245-251-swan-street-richmond-4ec507e5809b1dc1253cc608479756d6.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="396" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/two51-on-swan-245-251-swan-street-richmond-4ec507e5809b1dc1253cc608479756d6.jpg?itok=gg8aYGEf" width="580" /></a>

Expected to reach completion in August, TWO51 on Swan offers the rare opportunity for half and full-floor penthouses in Melbourne&rsquo;s Richmond. Blueprint Projects&rsquo; development offers buyers two, three and four-bedroom configurations in the art deco-inspired building, designed by Watson Young Architects.

Other features include a grand lobby, open-plan layouts, and an expansive open-air &lsquo;winter garden&rsquo;, with integrated balustrades finished with stone, timber and metal textures.

5. <a href="/buildings/heirloom-doncaster-east-908-doncaster-road-doncaster-east">Heirloom, Doncaster East</a> 
Address: 908 Doncaster Road, Doncaster East VIC 3109 
Two-bedroom apartments from $659,000

[smartcode_project:default project_id=26614]

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/heirloom.jpeg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/heirloom.jpeg?itok=7c-Ouo_h" width="580" /></a>

Heirloom, a collection of 16 homes in Doncaster East, will also reach completion this year, offering the latest features and modern conveniences to its residents. Designed by ClarkeHopkinsClarke as a vibrant mixed-use community, Heirloom draws inspiration from its location, with home-sized apartments and 1960s furniture pieces.

Delivered by Parkes Property, Heirloom features light-filled interiors, terraces&nbsp;and mini butler&rsquo;s pantries.

Urban takes a look at five new developments in Victoria that are expected to reach completion in the coming year. 

5 VIC residential developments completing construction in 2021

<html><body>
The Australian Bureau of Statistics (ABS) released building approvals data for August 2014 earlier this month.
At a headline level, dwelling approvals were 3.0% higher over the month and are now 14.5% year on year. With 16,810 approvals over the month there is clearly a strong level of residential development activity with monthly approvals just -5.0% lower than their recent peak.
<img src="/images/2014/10/8/Chart-1.jpg" alt="">
Of the 16,810 dwelling approvals in recorded over the month of August, 9,401 were for houses and the remaining 7,409 were mulit-unit dwellings (typically apartments).
Over the month, house approvals fell by -1.4% while unit approvals rose by 9.2%. Year-on-year, house approvals are 12.6% higher while unit approvals are up 17.1%. 
As the chart above shows, the six month trend indicates a slowing of dwelling approval numbers and it also shows that monthly movements in unit approvals tend to be much more volatile. Also remember that a multi-unit development is more risky than developing a single house and ultimately less likely to ultimately be constructed.
<img src="/images/2014/10/8/Chart-2.jpg" alt="">
Focussing on dwelling approvals on an annual basis we have seen more house and unit approvals than ever before over the 12 months to August 2014. Over the 12 month period there were 197,571 dwelling approvals, of which 111,020 were for houses and 86,552 were units. The annual number of approvals has increased by 19.2% over the past year.
Although approvals have surged, as the chart shows it is largely due to a significant lift in unit approvals. Although the number of unit approvals over the past year was at a record high, house approvals are still -6.8% lower than their previous peak over the year to July 2010 and -21.2% lower than their all-time high of 140,832 over the year to April 1989.
Historically, units have been much less likely to move from approval to construction. Units also tend to be much more likely to be owned by investors than houses. 
With the Reserve Bank flagging that deliberations are ongoing into the introduction of macroprudential policies to slow the level of investor activity in the housing market, there is potentially an even bigger than normal risk that these units won't make it to completion.
<img src="/images/2014/10/8/Chart-3.jpg" alt="">
Across the combined capital cities, there was an all-time high of 147,122 dwellings approved for construction over the 12 months to August 2014. The number of capital city dwelling approvals has increased by 21.9% over the past year. 
Over the year there were, 71,662 approvals for houses and 75,460 unit approvals with house approvals up 20.6% and unit approvals 23.2% higher.
Much like the national results you can see that unit approvals are at their higher levels while house approvals are only just approaching their previous peak levels.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
 
 
<img src="/images/2014/10/8/Chart-4.jpg" alt="">
Across the individual capital cities, Brisbane has recorded the greatest increase in dwelling approvals over the year (41.8%) followed by: Perth (24.9%), Adelaide (24.0%) and Sydney (23.3%). Dwelling approvals are lower over the year in Darwin (-6.8%) and Canberra (-6.4%) while Melbourne (16.3%) and Hobart (19.4%) have recorded only moderate rises in dwelling approvals. 
Despite certain cities recording significant rises in dwelling approvals, Sydney and Melbourne have accounted for more than 57% of all capital city dwelling approvals over the past year. With 26,123 dwelling approvals over the past year, approvals in Perth are at a record high while Brisbane approvals are just shy of their record high.
<img src="/images/2014/10/8/Chart-5.jpg" alt="">
A key driver of the overall increase in dwelling approvals has been the rising prominence of the unit market. Over the past year, the increase in unit approvals has been greater than the increase in house approvals in Sydney, Brisbane, Adelaide and Perth.  Although unit approvals have recorded greater increases in these cities, there has been a substantial decline in unit approvals across Hobart and falls in both Darwin and Canberra.
<img src="/images/2014/10/8/Chart-6.jpg" alt="">
With more than half of all capital city dwelling approvals for units as opposed to houses, all individual capital cities except for Adelaide (31.8%), Perth (25.9%) and Hobart (7.0%) are seeing a majority of approvals for units. In Sydney, 67.7% of dwelling approvals were for units over the past year, elsewhere 53.0% were for units in Melbourne, 55.9% in Brisbane, 63.2% in Darwin and 57.9% in Canberra.
Sydney has consistently approved more units than houses since 1993 and Darwin has consistently approved more units than houses since 2003, while across the other cities it is a relatively new phenomenon.  
Melbourne has only been approving more units than houses since mid-2012, in Brisbane it has occurred since mid-2013 and in Canberra since mid-2010. Of course, there is an increasing level of demand for units, but particularly in Melbourne and Brisbane the number of units in the pipeline is largely untested in the market. 
Furthermore, units tend to be more appealing to the investor market rather than owner occupiers. While demand may currently be strong it remains to be seen whether there is enough investor demand to satisfy all of the supply in the pipeline.
Dwelling approvals remain at a very high level and with the rate of population growth slowing it is encouraging to see that supply is finally responding.  With their lower price point compared to houses and superior rental returns no doubt we are seeing a rising level of demand for units, particularly in inner city markets. 
Of course, the Reserve Bank of Australia has raised concerns about the level of investment lending which is most prominent for inner city units.
If controls are introduced to slow the level of investment there may be an adverse impact on demand and subsequently values of inner city units, particularly new inner city units which are a strong target from the investment segment of the market.
 
</body></html>

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