A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Joel Robinson

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

First Home Buyers

The first home buyer market has been incredibly quiet in the off the plan apartment market for the last few years given the unwavering hiking of interest rates by the RBA.

Now however, with economic data and commentary suggesting rates will be coming down. later in 2024, first home buyers have started to emerge again.

Data from MatterFact, Apartments.com.au's new data analytics product, shows that in&nbsp;<a href="/new-apartments/sydney-nsw">Sydney</a>&nbsp;there has been over 35 per cent more enquiry from first home buyers in the first two months of 2024 compared to the same period in 2023.

Enquiry is also 30 per cent up compared with the last two months of 2023.

We've looked at the most popular apartment developments across Sydney for first home buyers on Urban.

<h2>Projects: Fox Lane</h2>

<h3>Location: 2 Fox Lane, Rockdale NSW 2216</h3>

<h3>Developer: TQM Group</h3>

<a href="/developers/tqm-group">TQM Group</a>'s next generation of urban-designed apartments has become one of the most sought-after addresses in <a href="/developments/rockdale-nsw-2216">Rockdale</a>, with both first home buyers and investors showing significant interest.

<a href="/new-apartments/fox-lane-rockdale-499-princes-highway-rockdale">Fox Lane</a> comprises 43 studio, one, two and three-bedroom apartments above two ground-floor commercial spaces. The apartments start at $539,000.

First home buyers will enjoy their practical open-plan homes and the variety of rooftop amenities crowning the <a href="/architects/place-studio">Place Studio</a>-designed building.&nbsp;

[smartcode_project:default project_id=141702 project_image_fid=228147]

Fox Lane's onsite amenity includes a cinema, pool and BBQ area with expansive district views. Fox Lane also offers easy access to some of Rockdale’s many local amenities and urban conveniences, just an eight-minute walk to&nbsp;Rockdale or Banksia Station.

The area around Fox Lane is also teeming with a vibrant café and restaurant scene with some of the best food and dining spots nearby.

<h2>Projects: The Grand</h2>

<h3>Location: 27-37 Mann Street, Gosford NSW 2250</h3>

<h3>Developer: TQM Group</h3>

<a href="/developers/ace-property-group">Ace Property Group</a> and TQM Group, who have teamed up on several apartment developments previously, have collaborated again to create the apartment development The Grand.

Situated on <a href="/new-apartments/gosford-nsw-2250">Gosford</a>'s Mann Street, the project offers one of the most desirable locations for apartment seekers across the entire Central Coast.

<a href="/new-apartments/the-grand-gosford-27-37-mann-street-gosford">The Grand</a> will comprise 138 apartments across an 18-level <a href="/architects/kannfinch">Kann Finch</a>-designed tower.&nbsp;

Prospective first home buyers at The Grand can pay no stamp duty for the two-bedroom apartments, which start at $700,000. They span nearly 100 sqm of internal living area.

[smartcode_project:default project_id=22753 project_image_fid=210677]

Architecture firm Kann Finch designed the tower to protrude from a fine-grained sandstone podium, which will be crowned by a striking resident infinity pool and a landscaped garden by <a href="/landscape-architect/site-image">Site Image Landscape Architects</a>.

Within the podium, on street level, will be several food and beverage tenancies when the building is complete in 2025.

The open-plan apartments feature floor-to-ceiling glass windows, taking in sweeping views of either the water or the wider Central Coast district. The well-appointed kitchens come furnished with Smeg appliances, Parisi tape-ware, timber veneer, and stone benchtops.&nbsp;

<h2>Projects: Tallawong Village</h2>

<h3>Location: 2-12 &amp; 1-15 Conferta Avenue, Rouse Hill NSW 2155</h3>

<h3>Developer: Deicorp</h3>

<a href="/developers/deicorp">Deicorp</a>'s <a href="/new-apartments/tallawong-village-rouse-hill-shop-30-12-conferta-avenue-tallawong">Tallawong Village</a> offers highly affordable but contemporary apartments in Sydney's growing Hills District, with varying floor plans of one, two and three-bedrooms catering to both rightsizers and first home buyers.

Situated on the doorstep of the Sydney Metro Tallawong Station, Tallawong Village boasts unparalleled connectivity, with existing access to the Sydney CBD, and plans already underway to connect <a href="/new-apartments/tallawong-nsw-2762">Tallawong</a> to the future Western Sydney International Airport.

[smartcode_project:default project_id=106821 project_image_fid=215904]

The village will also benefit from the planned future Tallawong Town Centre, which will deliver up to 30,000 sqm of retail floorspace, while the bustling Rouse Hill Town Centre is just one stop away on the Metro.&nbsp;

Tallawong Village is a part of the more than 2,000 apartments that Deicorp is delivering along the Northwest Metro line, with the group also responsible for the <a href="/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill">Hills Showground Village</a> in <a href="/new-apartments/castle-hill-nsw-2154">Castle Hill</a> and <a href="/buildings/proximity-rouse-hill-8-civic-way-rouse-hill">Proximity</a> at <a href="/new-apartments/rouse-hill-nsw-2155">Rouse Hill</a>.

<h2>Projects: Auburn Square</h2>

<h3>Location: 26-36 Northumberland Road, Auburn NSW 2144</h3>

<h3>Developer: Tian AN Australia Ltd</h3>

Developed by <a href="/developers/tian-an-australia">Tian An LFD</a>, Auburn Square boasts the ultimate liveability in the heart of western Sydney.

<a href="/buildings/auburn-square-26-36-northumberland-road-auburn">Auburn Square</a> comprises 427 residences in one, two, and three-bedroom configurations, including nine retail and commercial suites and various amenities..

The project is ideally price pointed for first home buyers, with both one and two-bedroom apartments starting below $600,000.

[smartcode_project:default project_id=7317 project_image_fid=248568]

Each apartment has generously sized, open-concept living and dining areas, as well as well-appointed kitchens with integrated premium Westinghouse appliances.&nbsp;

A sprawling rooftop garden covering 2,000 sqm crowns Auburn Square and provides a welcoming retreat for residents to enjoy with their families, pets, and neighbours.&nbsp;

Auburn Square is only a four-minute walk from the train station, with easy access to Parramatta Road and the M4 for a quick drive to Sydney CBD or destinations further west.

<h2>Projects: Rhodes Central Oasis</h2>

<h3>Location: 39 Marquet Street, Rhodes NSW 2138</h3>

<h3>Developer: Billbergia</h3>

National property development firm <a href="/builders/billbergia-construction">Billbergia</a>'s recent release at their $2.5 billion masterplanned community Rhodes Central,&nbsp;<a href="/new-apartments/rhodes-central-oasis-39-marquet-street-rhodes">Oasis</a>, has been popular with first home buyers on Urban.

Designed by <a href="/architects/sjb-architects">SJB Architects</a>, the Oasis tower offers 126 one, two, and three-bedroom apartments starting at $865,000.

The apartments range from one-bedroom units up to 78 sqm, two-bedroom units around 90 sqm, and three-bedroom apartments reaching 116 sqm internally.&nbsp;

[smartcode_project:default project_id=112691 project_image_fid=205749]

Oasis also features a range of exclusive resident facilities, including an expansive swimming pool with private cabanas, a splash pad for children, and a spa.

Upon completion, the Rhodes Central neighbourhood covers approximately two hectares and will be home to five residential water-view buildings on the <a href="/new-apartments/rhodes-nsw-2138">Rhodes</a> peninsula when complete, housing over 1,500 apartments.

There will also be a central plaza with shopping, dining, and recreation offerings in the master plan.

Staff Writer

Sydney's top five apartment development for first home buyers in 2024

First home buyers started to reemerge in the off the plan apartment development space in Q4 2023, off the back of consecutive rate holds by the RBA.

While rates went up again in November, it's expected rates are almost at the peak, and the Big Four banks are anticipating the next rate move will be a cut.

We've dug into our data and looked at the top five most popular <a href="/developments/melbourne-vic">Melbourne</a> suburb in Q4 2023.

<h2>Melbourne CBD</h2>

<a href="/developments/melbourne-vic">Melbourne CBD</a> remains a top choice for first-home buyers.

Boasting many amenities, including world-class dining, cultural institutions, and efficient public transport, the CBD continues attracting young professionals and urban enthusiasts alike.&nbsp;

The recently completed $1 billion West Side Place development by developer Far East Consortium has become a hotspot for both first home buyers and investors.

[smartcode_project:default project_id=1270 project_image_fid=217064]

Comprising four towers, including the prestigious Ritz-Carlton and Dorsett Hotels, the development features various apartment configurations starting at $550,600.&nbsp;

Residents can enjoy various amenities, including a swimming pool, gymnasium, function rooms, open terraces, cinema, and on-site retail arcades.

Located within the coveted University High School Zone, the development is just a short walk from the Yarra River, Flagstaff Gardens, Southern Cross Station, and the Free Tram Zone.&nbsp;

Another popular project is Brady Group's <a href="/buildings/380-melbourne-380-lonsdale-street-melbourne">380 Melbourne</a>, located on Lonsdale Street.&nbsp;

[smartcode_project:default project_id=2064 project_image_fid=210636]

Designed by <a href="/architects/fraser-partners-0">Elenberg Fraser,</a> the twin-tower project offers one, two, and three-bedroom apartments starting from $570,000.&nbsp;

The 65-level towers include 300 hotel suites and a retail and cafe arcade connected to the public domain through a unique low-lying podium.&nbsp;

Resident amenities at 380 Melbourne encompass a lounge, games room, private cinema, karaoke room, steam rooms, sauna, rooftop garden, heated lap pool, and outdoor terrace with barbecue facilities.

<h2>Southbank</h2>

Nestled along the Yarra River, <a href="/developments/southbank-vic-3006">Southbank</a> has solidified its status as a vibrant and modern residential hub.&nbsp;

Soutbank's proximity to the CBD and the thriving arts and entertainment scene position it as an appealing option for first-home buyers seeking a cosmopolitan lifestyle.&nbsp;

The abundance of waterfront promenades, recreational spaces, and dining options further enhances the neighbourhood's charm.

One of the most popular projects in the suburb on the Urban website this year is Central Equity's FOCUS Melbourne, with its recent win at the 2023 HIA-CSR Victorian Housing Awards.

[smartcode_project:default project_id=3260 project_image_fid=206125]

FOCUS won the Victoria Apartment Complex Award (over $20 million), while Central Equity was Victoria's most awarded apartment developer.

The $450 million FOCUS offers a move-in-ready option in the heart of <a href="/developments/southbank-vic-3006">Southbank</a>.

The development has proved popular among locals who want to remain near the city while enjoying a neighbourhood feel.

[smartcode_project:default project_id=3260 project_image_fid=206134]

The 50-level building comprises one, two, and three-bedroom apartments, strategically placing residents near the arts precinct and its upcoming $1.7 billion revamp, just over two kilometres from the CBD.&nbsp;

FOCUS distinguishes itself with resort-style amenities, including a 17-seat luxe theatre, indoor heated pool, sauna, gym, and landscaped terraces with barbecues.&nbsp;

<h2>Brunswick</h2>

Known for its eclectic atmosphere and diverse community, Brunswick has carved a niche as a haven for the culturally inclined. Trendy cafes, local markets, and green spaces complement the suburb's artistic flair.&nbsp;

As the trend of prioritising lifestyle and community connectivity grows, Brunswick stands out as an ideal choice for first-home buyers seeking a balance between cultural richness and affordability.

[smartcode_project:default project_id=4802 project_image_fid=217137]

Experiencing significant gentrification in recent decades, Brunswick attracts young professionals, artists, and families who value a vibrant and eclectic lifestyle. ASX-listed developer Mirvac recognised the area's allure, choosing it as the location for their project, Prince &amp; Parade.

Designed by Bates Smart and landscaping by Jack Merlo, Prince &amp; Parade comprises 166 one, two, three, and four-bedroom apartments. Cleverly oriented to maximise park views, the development rises to nine levels on the north side facing Brunswick Road and five on the south side facing Park Street.

Situated across from Princes Park, a 39-hectare oasis of greenery, walking paths, sports grounds, and playgrounds, Prince &amp; Parade seamlessly blends urban sophistication with natural tranquillity.&nbsp;

[smartcode_project:default project_id=4802 project_image_fid=217119]

The development's location offers its residents convenient access to culinary delights, vibrant cultural scenes, and educational institutions, including Princes Hill Secondary School, <a href="/developments/melbourne-vic">Melbourne</a> University, and RMIT.

The fully electric building features a residents' lounge, dining room, rooftop terrace with panoramic views of <a href="/developments/melbourne-vic">Melbourne</a>, a library, and a wellness studio.

Construction of Prince &amp; Parade is scheduled to commence in early 2024, promising a unique living experience that combines modern amenities with the charm of Brunswick's cultural and natural surroundings.

<h2>Moonee Ponds</h2>

Moonee Ponds offers a suburban sanctuary near the CBD's northwest without compromising accessibility.

Home to beautiful parks, reputable schools, and a welcoming community vibe, Moonee Ponds caters to those desiring a more serene living experience.&nbsp;

The suburb's well-connected public transport options, including trams and trains, ensure residents can easily navigate the city while enjoying the tranquillity of suburban life.

[smartcode_project:default project_id=105114 project_image_fid=210517]

At the heart of Moonee Ponds is Hamton's Moonee Valley Park, a 20-hectare precinct just six kilometres from the CBD.&nbsp;

Within this dynamic development, Trackside House is a unique residential building, offering approximately 86 residences with views of the finishing straight at the iconic Moonee Valley Racecourse.&nbsp;

The 11-storey building, designed by Rothelowman in collaboration with Carr interior experts, includes a range of residences from grand three and four-bedroom options to more affordable one-bedroom units starting at $565,000.

As the fourth stage in the precinct's redevelopment, Trackside House benefits from a diverse range of eateries, retailers, and 20 hectares of open space and gardens. Various amenities, including playgrounds, sporting fields, and running tracks, enhance the community experience.&nbsp;

Another successful development by Hamton in Moonee Valley Park is Stonepine House, achieving over 80 per cent of sales within 11 weeks of its launch.&nbsp;

[smartcode_project:default project_id=110367 project_image_fid=199209]

Offering exclusivity within the thriving community, Stonepine House features two and three-bedroom residences starting at $650,000.

Both Trackside House and Stonepine House are designed to complement the surrounding 20 hectares of greenery and are expected to be completed in mid-2025, contributing to the evolving landscape of Moonee Ponds.

<h2>Malvern</h2>

Renowned for its leafy streets and grand architecture, Malvern has long been a sought-after address for buyers seeking an upscale residential experience.&nbsp;

While often associated with a more established demographic, the suburb has witnessed an increasing interest from first-home buyers drawn to its classic charm and proximity to amenities.&nbsp;

Malvern's harmonious blend of heritage and contemporary living makes it an appealing choice for those entering the property market.

Kokoda Property's Malvern Collective was one of Urban's most popular projects <a href="/developments/melbourne-vic">Melbourne-wide</a> across the whole of 2023.

[smartcode_project:default project_id=12457 project_image_fid=217233]

Malvern Collective is envisioned as a 0-minute neighbourhood at 2 Station Place, an even more convenient community than the standard 15-minute neighbourhood.

The project comprises 205 one to three-bedroom apartments spread across two striking glass buildings above a vibrant hospitality precinct. Future residents will have every convenience at their doorstep, including a Woolworths Metro, six hospitality venues, and an easy commute to the city.

The popularity of Malvern Collective's apartments among owner-occupiers is attributed to the unique proposition, thoughtful design, and superior concierge service reminiscent of a high-end hotel managed through a dedicated residents' app.&nbsp;

[smartcode_project:default project_id=12457 project_image_fid=217246]

Exclusive amenities within the project include a co-working space, cinema, swimming pool, wellness centre with hot and cold plunge pools, and a private dining area.

Malvern Collective is on track for completion in Q1 2024.

We've dug into our data and looked at the top five most popular Melbourne suburb in Q4 2023

Melbourne’s top 5 most popular suburbs for first home buyers on Urban in Q4 2023

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

Often the coveted suburbs to buy a home are some of the priciest &ndash; which means buyers with a lower budget generally begin to look further afield to get on the property ladder.

Sometimes buyers luck out, purchasing a property in a less popular area where the median house price is relatively low.

Over time, suburb population grows and local businesses arise often driving demand for residential property.

We&#39;ve mapped out a few of the key features to look for in a burgeoning suburb.

<h2>Planned infrastructure upgrades</h2>

Familiarise yourself with each local council&#39;s planning applications and pipeline of infrastructure upgrades.

Often when money is invested in a suburb, it adds to the desirability of the area. Note that timeframes provided are usually only indicative, are often subject to planning approvals and may be subject to delays.

[smartcode_project:default project_id=28126 project_image_fid=186051]

<h2>Fringe suburbs of already popular neighbourhoods</h2>

Don&#39;t be afraid to extend your search radius. As populations grow, fringe suburbs are becoming more densely populated, and with more people comes more businesses, infrastructure upgrades and a thriving community.

[smartcode_project:default project_id=22803 project_image_fid=170888]

<h2>Well-thought-out master-planned communities</h2>

The development of a master-planned community gives an area an instant population boost.

A thoughtfully designed masterplan will also deliver active open space, additional schooling, retail and dining and healthcare.

Many master-planned communities will also have extra space for businesses to operate from &ndash; meaning you can work close to home.

[smartcode_project:default project_id=28168 project_image_fid=186035]

<h2>Decent public transport and motorway connections</h2>

Getting to and from the areas you spend most of your time socialising and working with ease is an important consideration when choosing a location to buy your first property.

Are you within close proximity to a reliable bus route?

Is there a park and ride near the train station, or is the train station within walking distance?

Is the property within easy access to a direct route motorway or freeway to the city?

If not, then check for any infrastructure upgrades planned for the area in future.

[smartcode_project:default project_id=3494 project_image_fid=184720]

<hr />
<h2>&nbsp;</h2>

<h2>MIRVAC | FIRST HOME BUYER HUB</h2>

How do I go about buying my first home?

If this is a question you find yourself asking, use the&nbsp;Mirvac&nbsp;First Home Buyers checklist to learn the 11 key steps in the buying process for first home buyers.

<h2><a href="http://firsthome.mirvac.com/?utm_source=urban&amp;utm_medium=organic">Complete the Quiz*</a></h2>

[smartcode_project:default project_id=93788 project_image_fid=186245]

<hr />
Important note: The information in this article is general information only and has been prepared without taking into account your personal circumstances. While every care has been taken to ensure the accuracy of the information, Urban cannot be held liable for any inaccuracies, errors or omission. 

The information in this article does not constitute legal, tax or financial advice and you should always seek professional advice before purchasing property in relation to your individual circumstances.

Often the coveted suburbs to buy a home are some of the priciest – which means first home home buyers limited by budget generally begin to look further afield to get on the property ladder. We've mapped out a few of the key features to look for in a burgeoning suburb.

urban.com.au

How to pick an up-and-coming suburb to buy your first home

Buying a brand new home can be the perfect option if you want to purchase something more bespoke that will meet your lifestyle requirements.

When you buy off-the-plan, you often get the ability to customise the look and feel of your home, choose from a selection of well-thought-out floorplans.

To understand the types of off-the-plan properties available and to decide whether an apartment or townhome would be more suitable for you, here&#39;s a breakdown of what each property type has to offer.

<h2>APARTMENTS</h2>

While apartments are most commonly found in the CBD, as demand for cost-effective housing grows, more apartment towers are cropping up in suburban areas, meaning you&#39;re less likely to have to compromise on the location of your new home.

One of the most significant drawcards of apartments is their&nbsp;amenities. Even if you purchase a one-bedroom apartment, you may have access to a suite of resort-style amenities and often ground floor retail and dining options too.

A consideration you&#39;ll need to take into account is whether you are allowed pets, what the restrictions are around renovating your apartment and what the rules are when it comes to using your property as rental or short-stay accommodation.

Another thing young families may wish to consider is whether they will need extra room in future &ndash; in that case, a larger apartment or townhome may be more appropriate.

[smartcode_project:default project_id=100322 project_image_fid=163036]

<h2>TOWNHOMES</h2>

Townhomes offer many of the same benefits as an apartment but often provide a bit more flexibility of space. They&#39;re great if you are keen on having a backyard, or if you want more privacy with fewer neighbours.

Often townhomes will come with more car parking and storage space, with slightly larger living areas and bedrooms.

Townhomes are also more likely to be dual aspect and dual storey &ndash; however, if second storey access will be problematic, then an apartment with elevator access may be a more suitable option.

[smartcode_project:default project_id=22803 project_image_fid=53579]

<h2>HOUSE &amp; LAND |&nbsp;DETACHED DWELLING</h2>

A stand-alone house has traditionally been the first pick for homebuyers across the board for their historic value retention, land and the ability for the owner to add value through renovations and adding additional bedrooms.

However, with the popularity of apartments and townhomes increasing due to the higher quality builds of multi-residential properties today, coupled with the lower entry point &ndash; traditional housing is seeing some competition in the market.

Buying a brand new detached dwelling within a masterplanned community can give you the best of both worlds.

With access to world-class amenities, high spec finishes and a burgeoning community, this can be a fantastic option for buyers wanting to buy a brand new home but also live in a part of a well-designed community.

At Urban, we have seen increases in demand for apartments, and townhomes, with both proving to be a cost-effective and viable option in the current competitive market.

Whether you opt for a low maintenance apartment, a flexible townhome, or a detached dwelling with the potential to add value, the home you move into will be brand new.

[smartcode_project:default project_id=28168]

<hr />
&nbsp;

<h2>MIRVAC | FIRST HOME BUYER HUB</h2>

If this is a question you find yourself asking, use Mirvac&#39;s checklist to learn the 11 key steps in&nbsp;the buying process for first home buyers.

<h2><a href="https://firsthome.mirvac.com/?utm_source=urban&amp;utm_medium=organic">Complete the Quiz*</a></h2>

[smartcode_project:default project_id=93788 project_image_fid=186245]

To understand the types of off-the-plan properties available and to decide whether an apartment or townhome would be more suitable for you, here's a breakdown of what each property type has to offer.

How to Choose the Perfect Property Type: Apartment, Townhome or House?

The affordability&nbsp;gap is continuing to grow between houses and apartments, having reached record highs earlier this year.

It&#39;s seen a wave of buyers give up on the house hunt, and turn to the fixed price apartment purchases.&nbsp;

There are a number of developments on the market under $400,000 across Melbourne, which we&#39;ve wrapped up below.

1. Cultivate, Heidelberg West 
Developer: Kincaid Projects 
One-bedroom apartments from $399,000

[smartcode_project:default project_id=628 project_image_fid=178988]

Cultivate delivers an affordable collection of one, two and three-bedroom apartments that border Heidelberg West and Ivanhoe.

Situated on the fringe of Melbourne&#39;s top hospital precinct, minutes from La Trobe University and at the quiet, tree-lined end of&nbsp;<a href="/buildings/37-bell-street-ivanhoe">Bell Street</a>, the development features 146 apartments across two towers.

[smartcode_project:default project_id=628 project_image_fid=178983]

Cultivate boasts impressive one-bedroom, one-bathroom residences for just $399,000, including the choice between two colour schemes, Smeg appliances and premium finishes.

Residents will have access to a rooftop barbeque area, skyline views and bike parking.

2. Due North, Preston 
Developer: Caydon Property 
One-bedroom apartments from $352,000

[smartcode_project:default project_id=5502 project_image_fid=155330]

Climbing 12 levels and comprising 107 apartments, Due North is a new fur-friendly apartment addition to Preston&#39;s High Street.

Designed by Caydon Architecture, the 50 sqm one-bedroom, one-bathroom apartment is priced at $352,000.

[smartcode_project:default project_id=5502 project_image_fid=155342]

Located just 20 minutes away from Melbourne&rsquo;s CBD and featuring rooftop space, a co-working area and three retail spaces, residents will have everything at their doorstep at Due North.

Splash the day away in the pool and dip into stunning Melbourne views as you kick back on the deck and soak in those holiday vibes.

3. Spring Street, Box Hill 
Developer: Orion International Group 
One-bedroom apartments from $395,000

[smartcode_project:default project_id=100675 project_image_fid=170524]

Comprising 312 one, two and three-bedroom apartments, Spring Street is a new development attracting both investors and first home buyers.

Located in the heart of Box Hill, the mixed-use development features the best of both worlds, it&rsquo;s set in a quiet and leafy area while enjoying convenient public transport, local shops and caf&eacute;s.

[smartcode_project:default project_id=100675 project_image_fid=170528]

Designed by Elenberg Fraser, one-bedroom, one-bathroom apartments at the residence begin from $395,000, with accessible ground floor retail and dining options. &nbsp;

The development will also feature a 25-metre pool with a spa, a sauna, gym, yoga room and more.

Urban takes a look at three new developments on the market under $400,000 for buyers hoping to get ahead of the anticipated demand

max.kwok_55688

Three best Melbourne apartments under $400,000, offering an accessible pathway to homeownership

Wahroonga Gardens, a collection of brand-new, three-bedroom townhomes in Wahroonga in Sydney&#39;s upper north shore,&nbsp;are proving popular with homebuyers looking for a more affordable property option.

Delivered by Developcorp, the boutique development has just 10 residences, with prices starting from $1.42 million.

Recent sales data from SQM Research shows the median house sale price in Wahroonga is around $1.96 million.

[smartcode_project:default project_id=29040 project_image_fid=87577]

Fresh and inviting, Wahroonga Gardens provide contemporary townhomes, designed to blend with the residential character of the surrounding area.

Contemporary interiors are filled with natural light, featuring flexible living spaces perfect for any family&rsquo;s changing needs.

The free-flowing layout and outdoor balconies are ideal for entertaining family and friends, and boast a welcoming feel thanks to timber flooring and a warm palette.

[smartcode_project:default project_id=29040 project_image_fid=87578]

According to the developer, each townhome features quality fittings and superior detail, including 40mm stone benchtops and quality stainless steel appliances throughout.

Situated on Sydney&rsquo;s Upper North Shore, Wahroonga is characterised by tree-lined streets, premier schools and the boutique shops and restaurants of Wahroonga village.

Residents are well connected and within 500-metres to Waitara Station, meaning Westfield Hornsby is one stop away. The Sydney CBD is around a 40-minute commute by train.

[smartcode_project:default project_id=29040 project_image_fid=87579]

Residents will have easy access to the north coast and Sydney&rsquo;s west through&nbsp;the M1 and North Conex Motorways, Pacific Highway and Pennant Hills Road.

Barker College, Abbotsleigh, Loreto Normanhurst and Knox Grammar are within close proximity to Wahroonga Gardens, as are a number of public, selective and independent schools.

Residents also have nearby access to a number&nbsp;of parks and recreation areas in Berowra Valley Regional Park and Ku-ring-gai National Park. The&nbsp;exclusive Pymble Golf Club&nbsp;is located nearby.

[smartcode_project_cta: project_id=29040]

Wahroonga Gardens, a collection of brand-new, three-bedroom townhomes in Wahroonga, are proving popular with homebuyers looking for a more affordable property option

Wahroonga buyers look to townhomes to save over $500k on a new property

EXPERT OPINION

It&rsquo;s time we stopped treating first-home buyers as a protected species and considered the importance of other cohorts in the housing market.

It&rsquo;s become a kneejerk response in mainstream media to cry outrage whenever property prices rise, with concern for first-timers as the justification for strident headlines.

Media seems to never tire of the &ldquo;young Aussies have been priced out of the market&rdquo; storylines. I have a database of articles going back decades showing that this theme has been bashed by media constantly over the years.

The current claims that young adults are doomed to lifetime of renting are a replay of the headlines from last month, last year, two years ago, five years ago, 10 years ago and indeed 20 years ago.

[smartcode_project:default project_id=5328 project_image_fid=163914]

Were they justified and accurate, the past 18 months would not occurred. Over the past year and a half, we&rsquo;ve seen record buying activity by first-home buyers.

The spectacular price growth seen in that period has been driven, not by investors, but by first-home buyers and other owner-occupier buyers. Helped by a high level of government assistance, they have pumped up demand at a time of low supply, hence the big price rises.

Rising prices make it harder for first-timers to get into their local markets, but otherwise there&rsquo;s never been a time when they&rsquo;ve had so much in their favour.

There are multiple federal and state schemes provided easy access to finance, cash hand-outs and special concessions on costs like stamp duty. The low level of mortgage rates is a bonus.

[smartcode_project:default project_id=100322 project_image_fid=163024]

Australia is already doing all that it needs to do to smooth the path for budding young buyers.

Beyond that, how about some consideration for other types of buyers.

What about second-time buyers? Consider this scenario: a young couple buys a small apartment as their first home &ndash; it&rsquo;s affordable, well located and suits their lifestyle.

Then they decide to start a family and they need to upgrade to a larger dwelling. For most, this means selling the existing home and buying something more appropriate.

[smartcode_project:default project_id=102256 project_image_fid=163750]

They&rsquo;re still young, aspirational Aussies seeking to navigate the property minefield of high competition, low supply, rising prices and prohibitive buying/selling costs. But what assistance does this country offer them? The answer is: nothing.

Once they&rsquo;ve bought that first home, they cease to be worthy of consideration or assistance. They&rsquo;re on their own.

So, what about down-sizers? Older Australians rattling around in the family home, with the kids grown and out in the world. The family home is now inappropriate to their needs &ndash; it&rsquo;s too big and it costs time, energy and money to maintain. Ideally, that older couple or individual would like to downsize &ndash; sell the big house and buy a comfortable low-maintenance apartment perhaps.

Many older Australians would like to take that step and we keep hearing politicians encouraging them to do so, to free up those big homes for young families.

But many don&rsquo;t take that step. Why not? Because the costs are prohibitive.

[smartcode_project:default project_id=102309 project_image_fid=163974]

Selling a home and buying another can easily cost $50,000, $100,000 or more in stamp duty, agents&rsquo; commissions, legal fees, relocation costs and more. When you&rsquo;re retired or approaching retirement, those costs are deal-breakers.

I&rsquo;ve considered making the downsizing decision myself. I won&rsquo;t be doing it any time soon because the costs are ridiculous.

Politicians urge older Australians to make this move, but how much assistance is provided by them in terms of easing the cost burdens? Exactly zero.

And how about some incentives for investors to get active in the market. We have a chronic shortage of rental properties in most locations across Australia because of a series of measures by politicians and bureaucrats over the past 5-6 years that have massively discouraged investors. Australia needs to change course and encourage investors to buy homes and make them available for rent.

We don&rsquo;t need to stop the world and reorganise how our markets work because potential first-home buyers are having a whinge about how tough things are for them. They already have huge levels of government assistance available to them.

Rather, we should be considering ways to help other cohorts in the housing markets who are equally worthy of assistance. 
&nbsp;

It’s become a kneejerk response in mainstream media to cry outrage whenever property prices rise, with concern for first-timers as the justification for strident headlines

terryryder

The first home buyer conundrum and why other buyer segments matter: Hotspotting's Terry Ryder

Assemble Futures offers a more accessible pathway to owning a home, that bridges the gap between renting and buying, with their latest Melbourne development, 4 Ballarat Street.

Located in Brunswick, one of Melbourne&rsquo;s most diverse neighbourhoods, the project supports you on a path toward homeownership by enabling you to move in and rent your apartment for five years, while you save to buy it.

[smartcode_project:default project_id=94542 project_image_fid=160739]

The development focuses on providing housing for low and middle-income households looking for a secure, long-term next step.

Assemble managing director Kris Daff said the housing concept helps residents protect themselves from shifts in the property market.

&ldquo;We are witnessing the strongest growth in property values in our history, rising at their fastest rate in almost two decades, and as a result, we have reached a crisis point in housing affordability&rdquo;, he said.

<blockquote>
&ldquo;Our housing concept, Assemble Futures, takes the volatility out of the market and provides absolute price certainty for our clients over the term of the lease and the end purchase price.&rdquo;
</blockquote>

The one, two and three-bedroom apartments at 4 Ballarat Street saw their first stage release on May 15, with further releases expected to be available throughout the month.

Designed by Fieldwork with landscapes by Rush Wright, the residence will run on 100 per cent renewable energy, offer flexible studio space, rooftop gardens and quality design.

[smartcode_project:default project_id=94542 project_image_fid=160730]

<h2>So how does the rent-with-the-option-to-buy model work?</h2>

Assemble Future&rsquo;s seven-year rent-to-buy model is simple for buyers, allowing residents to sign a lease, with agreed rent for five years after a two-year building period.

As the contracts are 12-month rolling leases, potential homebuyers have the flexibility to leave at the end of any period if they decide the development may not be the best fit for them.

Seven years is the average time most people living in Australia require to save for a home deposit and 4 Ballarat Street offers buyers a set target to save towards.

[smartcode_project:default project_id=94542 project_image_fid=160735]

This way, homebuyers can avoid the fast-increasing property prices in Melbourne&rsquo;s market by securing their home at a price agreed to when the initial lease was signed.

Assemble also supports residents on their savings journey, with a free, opt-in financial coaching programme.

Additional initiatives, such as bulk-buying on everyday essentials through sustainable suppliers, further ensures buyers are well-positioned to purchase their apartment at the end of the lease period.

[smartcode_project:default project_id=94542 project_image_fid=160729]

<h2>Test drive your new home</h2>

Thanks to Assemble&rsquo;s rent-to-buy model, potential homeowners can live in their apartment before committing to buy, delivering a taste of the neighbourhood, apartment and community.

4 Ballarat Street will mark the third Assemble project created in partnership with Fieldwork, following Clifton Hill&rsquo;s 122 Roseneath Street and Kensington&rsquo;s 393 Macaulay Road projects.

[smartcode_project:default project_id=94542 project_image_fid=160741]

The architects designed the home to reflect the layered personality of Brunswick, right through to fixtures, lighting and other finishes.

Inspired by the terracotta hues of the inner-city suburb, apartments are accented with a warm colour palette, such as terracotta tiles, rich feature joinery, and chrome finishing.

[smartcode_project:default project_id=94542 project_image_fid=160731]

Fieldwork director Quino Holland said that, as someone who had designed a number of apartment buildings over the years, he had been &ldquo;frustrated that a lot of my team members can&rsquo;t afford to buy into the projects they&rsquo;re working on.&rdquo;

&ldquo;I&rsquo;m excited that the Assemble Model will provide them with the opportunity to do so in a supported and flexible way.&rdquo;

[smartcode_project_cta: project_id=94542]

The project supports you on a path toward homeownership by enabling you to move in and rent your apartment for five years, while you save to buy it

Protect yourself from shifts in the property market: How Assemble Future’s rent-with-the-option-to-buy model can help you secure a Brunswick home

The recently unveiled Federal Budget is expected to support home ownership aspirations for thousands of households, according to Housing Industry Association (HIA) managing director, Graham Wolfe.

&ldquo;This budget will make a difference in the lives of thousands of Australians,&rdquo; he said.

A majority of the housing schemes are targeted to help first home buyers bridge the deposit gap and bring the aspiration of home ownership within reach of a broader range of Australians.

[smartcode_project:default project_id=8082 project_image_fid=59642]

Under new measures, budding first home buyers will now be able to access up to $50,000 of their own concessional and non-concessional contributions that they can put towards a first home deposit.

This presents an expansion of $20,000 on the previous $30,000 limit that could be released under the First Home Super Saver Scheme, which has been welcomed by the property industry.

The changes &ldquo;provide greater incentive and motivation for tens of thousands of young, aspirational Australians to save a deposit for their first home through a tax effective scheme&rdquo;, said Wolfe.

CEO of Master Builders Australia, Denita Wawn, said: &ldquo;Harnessing the power of compound interest in superannuation to save a deposit makes sense.&rdquo;

The Government has also committed to an extra 10,000 places for the First Home Loan Deposit Scheme, helping first home buyers secure a property with a five per cent deposit.

<h2>A win for single parents</h2>

<img alt="" height="667" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shutterstock_1156208419.jpg" width="1000" />

The Budget also expands on the success of the First Home Loan Deposit Scheme with the new Family Home Guarantee, which will assist single custodial parents buy a home with a deposit as low as 2 per cent.

&ldquo;These measures build off the economy-saving success of the HomeBuilder scheme by providing more focused support where it is most needed,&rdquo; Property Council chief executive Ken Morrison said.

This new scheme will deliver single parents, the overwhelming majority of whom are women, a step up to gaining the security that comes with home ownership.

&ldquo;Matching the 10,000 places still to open under the Deposit Scheme from July with a new allocation of 10,000 places under the New Home Guarantee will help ensure first home buyers can choose to buy either a new home or an existing home&rdquo;, Wolfe said.

Single custodial parents will need to wait until next week for a fact sheet with further information on eligibility criteria.

<h2>Other measures</h2>

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Other measures revealed by Treasurer Josh Frydenberg also help support workers, downsizers and broader communities.

The budget has committed to lowering the minimum age for downsizer contribution from 65 to 60, allowing a one-off post-tax contribution of up to $300,000 per person when they sell their home.

The Federal Government has also announced additional funding under the National Housing and Homelessness Agreement.

&ldquo;A further $124.7 million to assist states and territories to meet their social and community housing requirements will help meet growing demand for housing support&rdquo;, said Morrison.

Master Builders also announced they were pleased to see the Federal Government stepping up to assist the states and territories with their role to provide community and social housing, following calls for boosted social housing investments.

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Other measures also include an extension of the Boosting Apprentice Commencement wage subsidy which has helped restore confidence in job training to grow the next generation of homebuilders.

The government has also continued its 10-year, $110 billion spend on infrastructure, which includes $15.2 billion over the next ten years for new rail and road infrastructure projects, helping build communities.

&ldquo;All up, this is a budget for all Australians. It is very welcome and is strongly supported&rdquo;, Urban Taskforce chief executive Tom Forrest said.

The recently unveiled Federal Budget is expected to support home ownership aspirations for thousands of households

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