Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<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/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

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>.

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

Market Insights

In a recent interview between Urban CEO Mike Bird and Alex Adams, Head of Sales and Marketing at Aqualand, the progress of the Aura development was discussed, shedding light on its unique features and the current real estate market in Sydney.

&lt;p&gt;&lt;iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/qMBCf5H49xs?si=a2pqfBvO9fepFE78" title="YouTube video player" width="560"&gt;&lt;/iframe&gt;&lt;/p&gt;

[smartcode_project_cta:default project_id=30959]

Unveiling Aura's Unique Design and Progress 
Situated just across the road from the Aura development, the interview began with a glimpse of the progress made. Adams shared that Aura, visually appearing as four interconnected buildings, is actually a single structure with 28 levels. The design, akin to four interconnected pedals, showcases the innovative approach Aqualand has taken.

Sales and marketing for Aura have seen tremendous success, despite the challenges in the general market. Adams attributed this success to a combination of luck and effective marketing strategies, putting the project on track to achieve the remarkable milestone of $500 million.

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Sydney's Resilience in the Real Estate Market 
Adams expressed his confidence in Sydney leading the real estate market's resurgence, noting that the city is emerging from what he humorously referred to as a "funny period." The market's recovery, driven by strategic marketing and client engagement, reflects a positive trend for Aura.

Targeted Buyers and Demographics 
The types of buyers for Aura have remained consistent over time, primarily local downsizers, young professionals, and upsizers from the lower North Shore area. Adams highlighted the unexpected interest from Pymble and Lindfield, showcasing the project's broad appeal.

The Impact of Previous Projects 
Adams discussed the influence of Aqualand's completed projects, particularly Blue at Lavender Bay and Revy. These completed projects not only serve as brand recognition but also act as tangible examples for potential buyers. The confidence gained from showcasing completed developments has been a key factor in attracting interest in Aura.

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Building Confidence Through Transparency 
The discussion touched on Aqualand's commitment to transparency, a critical aspect often lacking in the real estate market. Adams emphasized the importance of showcasing construction progress through visual updates and detailed quarterly videos. This commitment to transparency aims to build trust and confidence among potential buyers.

Key Buyer Concerns: Quality, Size, and Location 
Adams identified the top three concerns of potential buyers: quality, size, and location. Quality, referring to the construction and finishes, takes precedence. Size became a crucial focus for Aura, with a deliberate effort to provide larger apartments, responding to the evolving needs of the local market. Lastly, the proximity to the Victoria Cross Metro station and the array of amenities within the building contribute to Aura's appeal.

A Unique Approach to Amenities 
Aura offers a distinctive range of amenities, including an underground pool inspired by Turkish baths, a wellness center, a gym in collaboration with Technogym, and a five-star concierge service. The Sky Deck on level 26 provides residents with breathtaking views, making it a unique and coveted space within the development.

[smartcode_project:default project_id=30959 project_image_fid=202655]

Black Key Subscription Service 
A standout feature of Aura is the Black Key subscription service, offering a level of service comparable to the prestigious AMEX Black Card. This exclusive service includes personalized assistance for events, last-minute dining requests, and access to the Sky Deck, adding an extra layer of luxury to Aura living.

Aqualand's Aura stands out not only for its innovative design and construction progress but also for its commitment to transparency and meeting the evolving needs of the real estate market in Sydney. The collaboration between Urban and Aqualand reflects a shared commitment to delivering exceptional projects that inspire confidence in buyers.

[smartcode_project_cta:default project_id=30959]

In a recent interview between Urban CEO Mike Bird and Alex Adams, Head of Sales and Marketing at Aqualand, the progress of the Aura development was discussed, shedding light on its unique features and the current real estate market in Sydney.

Michael Bird

How Aqualand have quickly developed their brand in Sydney's luxury market with Alex Adams

The age old adage is that the apple doesn't fall far from the tree.

That's the case at <a href="/developers/central-element">Central Element</a> (CE), the family-ran apartment developer who are venturing into the "ultra-luxury" in some of Sydney's best suburbs.

In the last few months they've announced development approval for the redevelopment of the <a href="/news/nsw/central-element-green-lit-for-coogees-ballamac-house-apartment-redevelopment">1860s Ballamac House in Coogee</a>, and an architecturally significant building on Hyde Park, while they also secured an <a href="/news/nsw/central-element-secure-prized-bondi-beach-site-for-new-apartment-development">arguably unrepeatable site in Bondi Beach</a>.

The three developments are likely to set not only new benchmarks for the suburb, but also for CE.

<a href="/developers/central-element">Central Element</a> Managing Director Nathan Chivas says&nbsp;setting new benchmarks in property development has been in Central Element’s DNA for decades.

"It was something my father always did in his development days," Chivas says. "Since founding <a href="/developers/central-element">Central Element</a> in 2011, we've continued to evolve every year we've operated, and now we're moving into what we're calling the 'ultra-luxury phase'."

Chivas says they only want to develop in the best locations. But with that, you need to create an A-grade product.

“If you find a location and create A-grade product that matches that location, then you know you’ll have strong demand no matter where the property cycle is at,” Chivas says.

"In this end of the market, you really need to bring a story to life, whether it's through brining in heritage or other luxury design elements. Ultimately these types of developments need to be a cut above the rest. They need to be more than an apartment in a great location. The money demanded by these projects, and the buyers of the projects, demand nothing less. That extra layer of detailed design and amenity is warranted for locations like Coogee and Bondi."

<img alt="CE Bondi" data-entity-type="file" data-entity-uuid="369c8542-743e-4154-96f0-ac28e77553b2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/CE%20Bodi.png?VersionId=l0SrfrPwkbTmHiL2PXHeQWeimU7DNxoG" />The Sandridge &amp; Wilga St site in Bondi. Image supplied

Chivas says the Hyde Park project at 271 Elizabeth Street will also be a step above what has ever been created in that area.

"They'll be some of the largest apartments Hyde Park has seen," Chivas says. "Not many other developments will be delivering house-like proportion residences like these. There's so little opportunity to build on Hyde Park, there's literally four streets, the majority of which is government-owned, so when you get that opportunity, you expect to never have one again in your lifetime, so you really have to push the boundaries to create something that will last."

It will suit those who want house-size city living, and demand for that kind of product far outstrips supply, Chivas says.

The mixed-use project, being developed in collaboration with equity partner MaxCap and the current landowner, will be designed by the renowned architects Murcutt&nbsp;<a href="/architects/candalepas-associates">Candalepas</a>&nbsp;and will home just 42 apartments across 14 levels, above&nbsp;hospitality spaces.

It will be the first time architecture legend&nbsp;Glenn Murcutt and Angelo&nbsp;<a href="/architects/candalepas-associates">Candalepas</a>&nbsp;will work together on a project for the&nbsp;<a href="/developments/sydney-nsw">City of Sydney</a>.

<img alt="Hyde Park" data-entity-type="file" data-entity-uuid="c73dece3-cf4e-432a-a57f-04916aec9567" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-22%20at%2010.45.39%20am.png?VersionId=KTwQ1xCGqorv8NMYT_0N6PSBETA2CH7j" />The approved plans for 271 Elizabeth Street. Image supplied

These high end products don't often require traditional marketing methods, Chivas says.

"It's not like a typical on market campaign, the nature of the product bring with it a level of discreetness," Chivas says. There's already a handful of prospective buyers lining up that want to be a part of the Bondi site, and the only information available is the address.

"It so tightly held around the Bondi area, especially Ben Buckler and around to Icebergs. Those areas will likely never be able to be unlocked. Finding new product in that area really is a once in a lifetime opportunity for someone, which is why we've already been fielding enquiry from those high-net-worth individuals."

The groups will be the first to receive the early ideas for the project, and in this scenario will be able to work with CE and their chosen architect to tailor them to their liking.

CE recently launched their luxury Drummoyne waterfront apartment development, Bianca Drummoyne, which quickly garnered attention as a rare harbourfront offering, the first waterfront project to be released in Drummoyne since 2020.

<img alt="Bianca" data-entity-type="file" data-entity-uuid="a653f348-6300-4549-87fb-5a023a122d9b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-22%20at%2010.43.15%20am.png?VersionId=y47RwMWs0jhaOJIJeCT4wCuxAKRvVGZ7" />Bianca Drummoyne will have just 12 luxury apartments on the harbour. Image supplied

There's been the expected demand from Drummoyne locals, as well as the affluent Hunters Hill area who are looking to downsize to the water. He says there's also been those from other areas who are closer to the Sydney Harbour precinct.

"Because of the price point, there's been enquiry from those who see value compared to if the project was in Double Bay or Mosman. Drummoyne still represents that luxury harbour lifestyle, a private beach, north-facing apartments with a resident swimming pool on the harbour and a ferry 100 metres away, without the price point of some of those more celebrity suburbs."

Chivas says waterfront coastal sites are always going to be top tier, and will never not have that demand factor.

"There's definitely a high priority to find those properties."

While many developers would be happy to be in the position CE are in with a work book of completed projects and a strong pipeline heading into 2024, Chivas says there's still the appetite to secure the next opportunity, although he says it's becoming increasingly more difficult to buy in Sydney's premium waterfront suburbs.

"It so tightly held around the Bondi area, especially Ben Buckler and around to Icebergs. Those areas will likely never be able to be unlocked. Finding new product in that area really is a once in a lifetime opportunity for someone, which is why we've already been fielding enquiry from those high-net-worth individuals."

<img alt="Coogee Central Element" data-entity-type="file" data-entity-uuid="0f942326-813d-40dd-bdd1-c7891dd0fbb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-22%20at%2010.44.28%20am.png?VersionId=VF7Y24F5bhi9oPhTsXFQggTMEJ.6r.5P" />The approved plans for Coogee's 1860 Ballamac House, to be launched in 2024. Image supplied

Chivas says sometimes there's no money in the world that would pry a family away from their land.

"All vendors have different ways of looking at things and expectations. They all have unique circumstances. Some are emotionally connected to their land parcels and want them to stay in the family name forever."

Chivas says there are some who have&nbsp;unrealistic expectations of what their land can be worth to a developer.

"Ultimately the land is worth what someone is willing to pay for it. But if it's a developer, and they want to create some sort of new development and come out of the other side higher than break even, then there's absolutely a ceiling as to how much the land is worth," Chivas says.

"There's always basic economics as to what you can achieve."

While not haven't to look much further than father Wayne for development inspiration, Chivas says he takes some learnings from Sydell Group, the hospitality and hotel operator famous for creating The Ned in London and the Park MGM in LAs Vegas.

"While they don't do residential development, they create these amazing stories in their developments where they've got the story telling factors, whether it's through celebrating heritage or hero-ing the location. It's definitely a brand we like and how they position themselves, their vision, delivery, and how they execute on a world class scale is certainly something we look to replicate.

"It's similar to what we do in a bit of a different way."

Chivas says he will be taking some inspiration from Sydell Group for their latest hospitality venture, the redevelopment of The Minerva in Potts Point, the iconic theatre which they're transofmring into a 63-key, five-star boutique hotel.

They were given the green light from the City of Sydney Council earlier this month.

Managing Director Nathan Chivas says setting new benchmarks in property development has been in Central Element’s DNA for decades

The story behind Central Element's push for ultra-luxury in Sydney's best suburbs: Five minutes with Managing Director Nathan Chivas

Commentary from CoreLogic's&nbsp;Head of Residential Research Australia Eliza Owen

CoreLogic's interactive Mapping the Market Report shows 82.4% of the 4,506 house and unit suburbs analysed nationally saw values rise in the three months to October.

Conversely, 792 (17.6%) house and unit suburbs declined in value in the past three months&nbsp;

Capital city markets are running at very different speeds, with Perth the strongest market while Hobart and Darwin are flat or falling.

Australia's housing market upswing has become more widespread, with four in five house and unit markets analysed nationally recording a rise in values over the past three months.&nbsp;

CoreLogic's interactive Mapping the Market tool, updated with data to the end of October 2023, found 83.1% of house markets and 80.6% of unit markets saw values rise in the past three months.&nbsp;

This broadly reflects continued growth in the Australian housing market, despite high interest rates and weakening economic conditions.&nbsp;

It’s often noted that Australia is not ‘one housing market’ and we’re currently seeing increased diversity in capital city market performance. That’s reflected in city-wide growth rates, the various levels of supply that’s available in some cities over others, and it’s reflected in the different suburbs we analyse in this report.&nbsp;

At one end of the spectrum, suburb-level analysis reflects the extraordinary growth trend across cities like Adelaide, Perth and Brisbane. In these cities, total listings levels &nbsp;are low, city-wide capital growth is running a bit over 1% per month, and migration &nbsp;trends from both overseas and interstate favour more housing demand."&nbsp;

<h2>Capital cities running at high speed&nbsp;</h2>

In Brisbane, each of the 162 unit markets analysed saw values rise in the past three months, while of the 305 house markets, only four saw a quarterly decline. These were the higher-end suburbs of Kalinga and Windsor as well as the more affordable &nbsp;Redland spots of Macleay Island and Lamb Island. &nbsp;

In Adelaide, only 3% of house markets saw a decline in the quarter, but there was a notable portion of unit markets in decline (13.4%, or 9 of the 67 suburbs analysed). &nbsp;

In Perth, there was one suburb where house values fell in the past three months, which was Mount Hawthorn, and Ms Owen said even there, the house market sustained only a mild decline of -0.2%. &nbsp;

Remarkably, 98.1% of the house and unit markets across Perth rose in value over the &nbsp;past three months, and 96.3% of suburb dwelling markets in Perth were at record high &nbsp;values at the end of October."

<h2>Capital cities running at mid-speed&nbsp;</h2>

Running at ‘mid-speed’ are Sydney and Melbourne dwellings, where city-wide capital growth was 2.5% and 1.2%, respectively in the past three months. &nbsp;

The pace of growth across both markets has slowed from the middle of the year when the June rate-hike surprised financial markets and many economists’ &nbsp;predictions.

Currently, growth in Sydney markets are strongest across relatively expensive house markets, with Five Dock houses topping the three-month capital growth ranking (up &nbsp;8.4%). In Melbourne, it was the more mid-priced unit market of Moorabbin, which topped the list, increasing 7.4%.

<h2>Portion of suburbs recording quarterly and annual falls in values&nbsp;</h2>

<img alt="Portion of suburbs recording quarterly and annual falls in values" data-entity-type="file" data-entity-uuid="13084365-cc5e-432b-9d90-5f1285a55214" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Portion%20of%20suburbs%20recording%20quarterly%20and%20annual%20falls%20in%20values.png?VersionId=TcsKKK9_.RZMkOM3Vnh.G8m6WMscUqSs" />

<h2>Capitals that are flat or falling&nbsp;</h2>

In Hobart and Darwin, 41% of house markets saw a quarterly decline. &nbsp;

Ms Owen said overall, Hobart home values ticked 0.3% higher in the past three months, but capital growth trends have been shaky, and total listings are trending around 47% higher than the previous five-year average. &nbsp;

"The city has seen value falls recorded in three of the past six months. Declines across &nbsp;Hobart houses were led by a -3.2% fall across the relatively expensive market of &nbsp;Sandford. &nbsp;

"Canberra has also seen relatively flat capital growth trends, and particular weakness in the unit market. 32 of 39 unit markets analysed in Canberra saw a quarterly decline, &nbsp;with the steepest fall in O’Connor, down -4.1%," she said.&nbsp;

Across regional markets, conditions are equally diverse, with Regional Queensland the strongest house market and Regional SA the best performing unit market.

Australia's housing market upswing has become more widespread, with four in five house and unit markets analysed nationally recording a rise in values over the past three months

Staff Writer

Values rising in more than 80% of Australian house and unit markets: CoreLogic 

<a href="/developers/goldfields-group">Goldfields Group</a>&nbsp;has been at the forefront of residential development for a number of years. It was that experience that helped them make the move first into the office sector, and then into the multi-residential high-rise apartment space in&nbsp;<a href="/new-apartments/sydney-nsw">Sydney</a> recently, as well as expanding their house and land developments to Western Australia.

With everything going on, Apartments.com.au CEO Mike Bird caught up with <a href="/developers/goldfields-group">Goldfields Group</a>&nbsp;CEO Lachlan Thompson, in the Beverley Rooftop bar which sits atop <a href="/developers/goldfields-group">Goldfields</a>&nbsp;House, their commercial tower at&nbsp;627 Chapel Street in <a href="/new-apartments/south-yarra-vic-3141">South Yarra</a>, to talk about their approach to development.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/hjTv0srRT1g?si=GsAamRTDkk3k2Jkf" title="YouTube video player" width="560"></iframe>

Goldfields House was <a href="/developers/goldfields-group">Goldfields Group</a>&nbsp;entry into the office market, presenting&nbsp;both commercial and hospitality elements.&nbsp;In 2017, amid expectations of a significant run on commercial office rents, the team strategically decided to explore the uncharted territory.

"The opportunity was probably a little bit bigger than we were looking for in 2017," Thompson says.

"We thought there was going to be a significant run on commercial office rents."

They had initially been looking for something smaller, missing out on a few opportunities in Cremorne, before securing the prime site on South Yarra's Chapel Street.

It completed around the time where the leasing market was the worst in three or four decades, but the fact they delivered a product that was the best in class, meant they were incredibly successful in leasing the building.

The success at Goldfields House led <a href="/developers/goldfields-group">Goldfields Group</a>&nbsp;into the high-rise apartment space, with the learnings of developing a high-rise office tower with the amenity to match.

"Amenity is everything these days, and it's a bit of a one-upmanship at the moment as to who can provide the most," Thompson said on residential developments.

"What there is that's coming out of the market at the moment is that everyone is becoming very house proud of where they live, and becoming super loyal to the building that they've bought in."

<a href="/developers/goldfields-group">Goldfields Group</a>&nbsp;first made the move into Sydney high-rise market with <a href="/new-apartments/the-bryson-of-chatswood-871-877-pacific-highway-chatswood">The Bryson of Chatswood</a>, a 90-metre tower in the heart of <a href="/new-apartments/chatswood-nsw-2067">Chatswood</a>. That came after a low-rise townhouse and apartment project in Pymble.

[smartcode_project:default project_id=21170 project_image_fid=231163]

The Bryson, near Beauchamp Park will comprise 70 one, two and three-bedroom apartments across its 26 levels, including a collection of&nbsp;skyhomes and penthouses.

Thompson says he's seen a shift in buyer preferences during the marketing of <a href="/new-apartments/the-bryson-of-chatswood-871-877-pacific-highway-chatswood">The Bryson</a>.

"Two-bed one baths are nearly extinct, we saw that coming," Thompson says. What they didn't see coming was the amount of amalgamation requests.

"Probably about 25 per cent of enquiries at the moment are for amalgamations, turning twos into threes."

[smartcode_project:default project_id=21170 project_image_fid=210274]

<a href="/developers/goldfields-group">Goldfields</a> will be looking at recreating a smaller version of Goldfields House in Brisbane in the not too distant future.

All up <a href="/developers/goldfields-group">Goldfields</a> have delivered around 6,000 residential dwellings across house and land lots, apartments and townhouses.

With everything going on, Urban.com.au CEO Mike Bird caught up with Goldfields Group CEO Lachlan Thompson, in the Beverley Rooftop bar which sits atop Goldfields House South Yarra, to talk about their approach to development

How a diversified portfolio helped Goldfields Group expand into the apartment market: Five minutes with Goldfields Group CEO Lachlan Thompson

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From an investment perspective, there are many similarities between the real estate sector and stock market. Both can be used as powerful investment tools, thanks to their ability to grow significant value in fluctuating market conditions. However, when times get tough, there is one very important difference that separates the two – you don’t need stocks to survive but you do need shelter.

And that makes current market conditions all the more pertinent – not for some 18-24 months has the opportunity to put a new roof over your head coincided so perfectly with a great time to buy. Recent price adjustments across the board, particularly here in Melbourne, have made getting into the real estate market a particularly attractive proposition for a range of homebuyers, from first home buyers to up-graders.

With three decades of experience, our team has seen pretty much everything real estate has to offer – both the peaks and the troughs. Like any industry, there are going to be ups and downs, but ultimately, it is these changing conditions that give way to opportunity and the ability to do better business.

There is no doubt that Melbourne’s current real estate climate presents some interesting challenges for all sides of the property sector – and recent pessimistic media headlines certainly aren’t helping!

However, as the old saying goes, ‘with challenge comes opportunity’ – and there’s plenty of opportunity out there for buyers who are motivated, well-informed and ready to move on the well-priced property that we’re seeing come onto the market.

Until recently, the typical Melbourne property market breakdown had been heavily skewed in favour of investors, who were estimated to have held somewhere in the midst of 70% of local residential property assets, while owner-occupiers and first home buyers battled to make up the remaining 30%.

Fast forward to today, and some notable shifts have occurred, with the split of housing ownership now estimated to be somewhere closer to 45% investor, 40% owner-operator and 15% first home buyer.

<h2>Tips for first home buyers</h2>

As Melburnians, we are incredibly fortunate to have so many great suburbs at our fingertips and in close proximity to the CBD.

Now is an exciting time for families and first home buyers on the hunt in the property market. Make sure you are dealing with an experienced professional who has seen it all in a property sense, but still has their finger on the pulse of what’s happening the industry.

This will give you the confidence needed to go out and capitalise on today’s buying conditions, without losing sight of what is sustainable according to your current financial position – for example, ensuring there are funds set aside for a ‘rainy day’.

<h2>Tips for developers</h2>

It is crucial that developers also realise what is prudent when it comes to planning and delivering a new project. Keep new developments around the 50-60 apartment quota for residential areas, giving yourself the best chance to strike the perfect balance between supply and demand.

Developers should be stocking their shelves with land acquisitions in key areas of growth that have sound infrastructure (existing or planned) and amenities nearby like public transport services, educational institutions and everyday retail shopping.

And, always ask yourself “are we delivering the right kind of product for the end user?” Here again the counsel of a seasoned real estate agent and project marketer can be invaluable in helping you to weigh up the opportunities presented by the current market and consumer demand, with your long-term investment and development strategy.

Michael Lang is a Director at Castran GIlbert and brings over 20 year’s real estate experience to this role, specialising in residential established properties, selling development sites together with off the plan properties. Ranging from boutique developments of 10 apartments to larger scale developments of over 200, Michael has worked on developments all over Melbourne – as far East as Boronia, as far North as Bundoora, South as Mount Martha, and as far West as Williamstown.

Look our for Apartments.com.au's follow up Podcast with Michael and fellow Director David Howard in coming weeks.
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