Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Marshall White

<html><body>
The Melbourne residential market has experienced years of unprecedented growth that saw prices peak in November 2017.

Now, after decades of rapid price hikes, the market is starting to self-correct to a level more traditionally akin to a ‘normal’ market, with organic ebbs and flows.

The recent correction, however, has sent waves of concern among buyers and industry commentators alike, with many pronouncing that this might signify the end of the fabled ‘bubble’.

But Australia has seen this many times before, and each time the market bounces back stronger than ever.

After each downturn, of which there have been at least half a dozen since 1980, the market has recovered within a short time and prices have resumed on a steady upward rise.

Seasoned property stalwarts such as Elias Jreissati of Bensons Property Group, and Leonard Teplin from Marshall White Projects have seen it all before, watching as Melbourne’s cyclical market rose and fell countless times over the years.

They say the market has reached real value levels and market fundamentals point to a positive upswing in 2019, meaning now might just be the best time to pounce, and make the most of current conditions while they last.

<h2>What they say...</h2>

<blockquote>
“The apartment market for off-the-plan remains consistent, with enquiry meeting demand through most of 2018 within strong areas of Melbourne. Given the relative affordability of finance for couples, these buyers are happy to invest more, move to stronger areas or purchase bigger apartments. Subsequently our average sale price of an off-the-plan apartment rose to $963,000 this year.

There will always be demand for well-designed and appointed projects within good locations, close to amenities and infrastructure offering carefully considered floorplans that cater to the end buyer’s needs. These basic fundamentals have buoyed Melbourne’s property market and continue to get stronger.”

It’s true that certain sections of the buying market have had to seek alternative methods to access credit, but that hasn’t diminished the appetite for good property. What we’re seeing is a slew of new lenders filling those gaps for first home buyers, downsizers and families who are still looking to buy new apartments or town homes off-the-plan.

Unemployment rates are at record lows, Australia’s GDP went up by 0.7% last quarter and construction and infrastructure investment remains incredibly strong. Buyers are buying and developers that are meeting demand with quality product are selling – there’s no doom and gloom in the wealth belt of Boorondara, Stonnington and Bayside.”

- Leonard Teplin, Director, Marshall White Projects
</blockquote>

 

<blockquote>
“The market will always ebb and flow – the extent of the current softening is highly exaggerated and sensationalised. The Melbourne housing sector had very strong growth for nearly 10 years, it is natural that there will be a slowdown for a while.

The fundamental driver of housing is population growth and it continues unabated. Overseas immigration is still strong, people are still growing up and wanting to move out of home, downsizers are still wanting to downsize and people wanting to own their own home still aspire to do so. These facts never change.

With the mad heat having dissipated from the market, there should be more quality stock available for the discerning purchasers. The thing with property is that if you own it for the long term, it always forgives you and profits you.”

- Elias Jreissati, Group Chairman, Bensons Property Group
</blockquote>
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urban.com.au

Now is the Time to Buy say Industry Stalwarts

<html><body>
In this week's podcast I'm joined by Laurence Dragomir and we talk about the Melbourne's development by tram series, RMIT's New Academic Street, <a href="/news/leonard-teplin-discusses-whats-next-for-melbournes-property-market-in-2018">Laury's interview with Leonard Teplin</a>.

Ps. I'll try to not talk as fast next time!

<iframe allow="autoplay" frameborder="no" height="300" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/397190265&amp;color=%23ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_teaser=true&amp;visual=true" width="100%"></iframe>

 
</body></html>

Alastair Taylor

Weekly Podcast: Episode 2 - Development by Tram, RMIT NAS and Leonard Teplin

<html><body>
Sales and marketing agents Marshall White have shifted their focus to virtual reality as a selling tool due to shifting preferences and expectations from prospective buyers.

Based upon recent project marketing experiences, younger generations heavy reliance upon the digital sphere has allowed Marshall White to sell out projects without a physical display suite.

As sales agent for <a href="/buildings/no-308-308-carlisle-street-balaclava">308 Carlisle Street</a>, Marshall White managed to sell all apartments within the project without a display suite or budget toward traditional print advertising. All 45 apartments were sold in under six weeks with the majority of purchasers aged between 25 and 30.

Marshall White believe buyers were drawn to location, enticed by what they term "a refined sales campaign" that simply put forth the advantages of a well-connected lifestyle coupled with an apartment of quality.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/00117814_img_02_1600x.jpg" rel="gallery-all" title="308 Carlisle Street exterior. Image courtesy Marshall White"><img alt="" class="image-article-full-width-580px" height="314" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/00117814_img_02_1600x.jpg?itok=X5DzXEgI" title="308 Carlisle Street exterior. Image courtesy Marshall White" width="580"></a>

<figcaption>308 Carlisle Street exterior. Image: Marshall White</figcaption></figure>Urban.com.au spoke to Leonard Teplin, Projects Director at Marshall White, who sees this as an opportunity to better invest the hundreds of thousands of dollars developers would spend on lavish display suites into innovative alternatives that are not only cost and time effective, but more authentic and impactful.

<blockquote>
This generation has changed the game; they are heavily reliant on the digital sphere and entrust it with major life decisions. People plan dates, book accommodation and apply for jobs with people they’ve never met and in places they’ve never been, online every day – so why would we expect any less of them when it comes to purchasing property?

Buyers are overloaded with choice and bombarded with advertisements, which has made them less perceptible to traditional marketing tactics. In order to be effective you must know your audience, what they value, who they trust, where they source their information – these things often hold more significance than their gender or profession and allow us to develop tailored marketing strategies that resonate with our buyers on a deeper level.

An integrated approach simplifies the sales process and leverages technology, videography, photography, renders, brand partnerships, and direct marketing to achieve a far more cost effect result within the shortest possible time frame.
<cite>Leonard Teplin, Projects Director, Marshall White</cite>
</blockquote>

While digital marketing has hit the mark with younger buyers, Leonard Teplin acknowledges print media as still maintaining an integral role to play in the sales process with older purchasers.

In order to access the virtual reality display without a physical display suite, prospective buyers would visit the Marshall White offices where all the necessary technology is in-house. A interactive display of approximately 72 inches occupies a space within Marshall White's offices and the general consensus has been positive, particularly for buyers who would otherwise struggle to visualise themselves in a prospective apartment space.

<blockquote>
What we've tried to do is create a 3D experience where the buyer puts on the headset which allows them to stand in the kitchen or bathroom and get a real sense and feel for the space. Virtual reality is the perfect solution for taking your product interstate or internationally, without having to build display suites or rely on printed or digital advertising material.

You're providing buyers with a fully immersive experience of the apartment and we expect more and more developers to embrace the concept.

<cite>Leonard Teplin, Projects Director, Marshall White</cite>
</blockquote>

Earlier this year the agency in tandem with <a href="/developers/moda-corp">Moda Corp</a> sold all 27 luxury apartments at High &amp; Spring in the same time frame as 308 Carlisle without any traditional or digital advertising, achieving a sales average of approximately $1,050,000 per apartment. This was done via Marshall White's database of existing clientele and interested parties.

Teplin believes that if a client is prepared to work with them in delivering a product to the market, then in those circumstances traditional advertising becomes obsolete as there's already a ready made audience for that particular type of property.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/arch2a.jpg" rel="gallery-all" title="High &amp; Spring has proven successful without traditional advertising. Image courtesy Marshall White"><img alt="" class="image-article-full-width-580px" height="279" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/arch2a.jpg?itok=hzPtPpRR" title="High &amp; Spring has proven successful without traditional advertising. Image courtesy Marshall White" width="580"></a>

<figcaption>High &amp; Spring has proven successful without traditional advertising. Image: Marshall White</figcaption></figure>Looking further ahead at the potential implications of the Victorian Government's soon to be introduced apartment standards and their impact on the market, Leonard Teplin expects an increased number of sites would be considered 'undevelopable' due to excessive setback requirements.

Teplin argues that minimum ceiling heights of 2.7 metres are "fine but we need to make sure the planning scheme gets adjusted accordingly so that mandatory height limits in certain zones (such as Residential 1: 9 metres) can cater for three levels at 2.7 metres."

Most sites will reduce in value, says Teplin, and the government may not care about this but if implemented in its current form, there will be a long period of no development (like <a href="/new-apartments/sydney-nsw">Sydney</a>) whilst the price of housing goes through the roof.

Sites will only start to stack up financially once the rate per square metre gets to "ridiculous levels like Sydney… these proposed amendments will kill what little affordability there is left in the market."
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Laurence Dragomir

Discussing the future of the apartment market with Leonard Teplin

<html><body>
Super penthouses atop Melbourne's tallest apartment projects may be the headline story, but there is currently a groundswell within the inner and middle suburb luxury apartment sector as a string of new boutique projects on offer. Running hand in hand with these new releases is evidence that luxury off-the-plan property sales are substantially on the rise.

Property sales agent Marshall White Projects recently released figures showing that year on year sales of apartments valued in excess of $650,000 rose from 278 in 2014 to 507 during 2015. Further the agency recorded 51 off-the-plan sales over $1.5 million in 2015, with just 20 logged for the same period in 2014.

This equates to a 250 percent increase in just one year.

<blockquote>
There is no doubt that the off-the-plan market has changed considerably in the past 18 months. Traditionally, off-the-plan sales have suited first home buyers who may not have the capital behind them to buy a freestanding home, and local investors due who were drawn to the tax breaks and savings when purchasing off the plan.

Now, however, developers and sales agents have identified a new market demographic in older downsizers or families who want to spend the same amount of money they would on a terrace home, however they are now seeking out larger luxury apartments as a viable lifestyle option.

Over the past 12 months I would estimate that approximately 30 percent of our owner occupier purchasers have been downsizers, compared with just 15 percent the year before.

With this changing market in mind we are now recommending that our clients have consolidation opportunities already prepared before going to market for all new developments to allow for a substantial weighting towards large, three bedrooms, luxury apartments.
<cite>Leonard Teplin, Director, Marshall White Projects</cite>
</blockquote>

In the broader sense Apartments.com.au has also noted an increase in the inclusion of three bedroom apartments in many of the projects that have entered the Apartments.com.au Project Database of late, with certain projects now containing a majority three bedroom dwellings.

Customisation is also increasing in off in the off-the-plan market according to Marshall White Projects, with older owner occupiers now firmly in the driver’s seat when it came to the personalised design, layout and finish of their new apartment.

<blockquote>
It would be rare in this market if we didn’t sell a project without at least one instance of customisation or amalgamation. Today’s luxury apartment buyers know exactly what they want and they have the money behind them to make it happen. We are constantly seeing buyers purchase two apartments next to each other and working with the architects to create a truly bespoke, three or four-bedroom home.

18 months ago developers wouldn’t dream of creating a three bedroom – two living area or four-bedroom apartment within their projects – let alone a whole building of them – but now we are finding these larger offerings are the first to go, and if a building doesn’t have a three to four bedroom offering buyers will purchase two smaller apartments and customise their own.
<cite>Leonard Teplin, Director, Marshall White Projects</cite>
</blockquote>


Leonard Teplin has also called on the State Government to overturn the controversial Neighbourhood Planning Zones in order to keep up with this growing demand.

<blockquote>
This luxury downsizer market doesn’t want to live in a high rise building in the CBD; they are seeking low-rise, boutique apartment developments in quiet side streets in locations like South Yarra, Hawthorn, Camberwell, Toorak and Armadale. The problem is these new Neighbourhood Zones have now locked up much of the land that is suitable for these developments, which is severely limiting demand and creating undo pressure on the end user.

This will only inflate apartment prices down the track so something must be done to ensure we can continue to feed this demand into the future.

<cite>Leonard Teplin, Director, Marshall White Projects</cite>
</blockquote>


In light of the above seen below are three newly release projects set to further add to the Melbourne's luxury apartment stock:

<h2>Lindsay Brighton</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image15_3.jpg" rel="gallery-all" title="Jacmax's Lindsay Brighton. Image: Jacmax"><img alt="" class="image-article-full-width-580px" height="276" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image15_3.jpg?itok=1d8qDFQX" title="Jacmax's Lindsay Brighton. Image: Jacmax" width="580"></a>

<figcaption>Jacmax's Lindsay Brighton. Image: Jacmax</figcaption></figure>Internationally award winning architects, Fearon Hay and property developer Jacmax has combined to create Lindsay Brighton. The first Victorian residential project for the New Zealand based design firm is designed with luxury detail in mind.

Three-meter high ceilings, seven-meter natural stone kitchen bench tops and full-height libraries with associated timber, bronze bookcases and ladders are some of the features included within the three level development.

<blockquote>
We wanted to transform the idea of apartment living through crafting a prestigious residential offering with opulent simplicity, providing a low maintenance, luxury lifestyle. There were no limitations when designing the residence. Fearon Hay were given a completely blank sheet.
<cite>Trent Skurrie, Director, Jacmax</cite>
</blockquote>

11 apartments make up the development with nine two and three-bedroom dwellings in addition to two penthouses. Pricing for the project begins at $1.6 million through to $4 million with apartment sizes beginning at 135sqm and increasing to a Penthouse-sized 297sqm.

<h2>Autun</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image16_5.jpg" rel="gallery-all" title="Marshall White Projects will market Autun. Image: theautunestate.com.au"><img alt="" class="image-article-full-width-580px" height="282" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image16_5.jpg?itok=uE09nCGf" title="Marshall White Projects will market Autun. Image: theautunestate.com.au" width="580"></a>

<figcaption>Marshall White Projects will market Autun. Image: theautunestate.com.au</figcaption></figure>Marshall White Projects' latest offering is the Autun Estate low-rise apartment and townhouse project located in a quiet side within Malvern East.

Designed by Conrad Architects and with interiors by SJB, the development will consist of two, three and four bedroom residences with the surrounding gardens created by Jack Merlo Design. Builder Glenvill Homes has been appointed with the high-end project townhouses selling for $1.2 million and beyond.

<h2>Englefield</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image19_8.jpg" rel="gallery-all" title="Englefield exterior &amp; interior. Image: Perri Projects"><img alt="" class="image-article-full-width-580px" height="266" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image19_8.jpg?itok=o3DNiQgv" title="Englefield exterior &amp; interior. Image: Perri Projects" width="580"></a>

<figcaption>Englefield exterior &amp; interior. Image: Perri Projects</figcaption></figure>Perri Projects has created the ‘Tailored Living Residences’ concept that will see home automation, personalised valet services and remote control technology delivered to residents as part of Perri Projects’ new ‘The Englefield’ development in South Yarra. The bespoke development will hold seven penthouse-sized apartments.

<blockquote>
Our experience and research have indicated that there is a new demographic of purchasers seeking out luxury apartments in curated developments that offer convenience as well as space and privacy.

These purchasers are seeking a luxury apartment with either two or three bedrooms, a study and a large outdoor entertaining space, in a low-rise, premium address that affords them the privacy they desire. We have designed The Englefield to embody these principles; every apartment is of a large, discerning size, equipped with the highest calibre fittings and materials, and embellished with incredible lush landscaped surrounds.

We have enhanced the appeal of the project even further by adding unparalleled service and luxury to our owners through our tailored living concept
<cite>David Scalzo, Director, Perri Projects</cite>
</blockquote>
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silvermb

The luxury apartment market on the rise

<html><body>
It’s been just over two years since the Victorian Government’s controversial Neighbourhood Residential Zones were gazetted, which restricted new apartment development to certain ‘zones’ within each suburb, thus limiting development on side streets and other designated areas to single-lot dwellings.

The planning amendment was one long fought for by the residents of some of Melbourne’s most affluent suburbs like those surrounding Marshall White’s four offices through Boroondara, Stonnington and Bayside, as they strove to protect their leafy-green streetscapes from new apartment buildings.

Many would say it’s been a win for the residents, however something incredibly interesting and unprecedented is now occurring as a result.

For the first time in recent memory, the same demographic which once vehemently opposed new developments - baby boomers and empty nesters - are looking to sell the family home and purchase a large, bespoke apartment in the same neighbourhood they know and love. It’s an extraordinary shift in sentiment from say two or three years ago when this particular demographic wouldn’t even consider living in an apartment.

On the contrary, now they have wholeheartedly embraced it, but there’s just one problem – the type of apartments they are seeking; boutique projects located on quiet side streets away from the hustle-and-bustle of the main road traffic, don’t actually exist anymore due to the flow on effects of the new planning regulations which have severely restricted new apartment growth in these suburbs.

Developers are now adjusting to the new regulations by purchasing what properties they can on main roads, and redeveloping them into large-scale new apartment buildings. Some landowners are even now cashing in by combining their sites and selling multiple adjoining parcels for a huge profit.

But, with development opportunities now so restricted, developers simply can’t keep up with the demand for more boutique developments of say 10 luxury apartments in quiet neighbourhood streets.

As baby boomers and empty nesters continue to flood the market, there is simply not enough new product coming to market in Melbourne’s inner east and northern suburbs to keep up with demand. With the rapidly changing market, the time is now to reassess the neighbourhood planning guidelines in order to free up the pipeline of new apartment developments in order to adequately satiate demand.

A market as dynamic as Melbourne’s demands flexible planning schemes that provide clarity, are nimbly changed and evolved to keep up with constantly changing market needs.

This new wave of apartment-embracing downsizers will just continue to grow as more and more people seek to trade in their family home for something more manageable, yet still with the luxury finishes and amenity to which they have become accustomed.

Our planning regulations are behind the times and we urgently need reform in order to better serve the market in the future.

Leonard Teplin is Director of Marshall White Projects.

Lead image courtesy Trust Advocate
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Leonard Teplin

Government should re-assess the neighbourhood planning zones

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Ageing in place and housing shortage are the two biggest buzz words in property at the moment, with current reports suggesting that older generations are refusing to downsize, causing a shortage of housing for younger buyers.

However, Marshall White Projects is in fact witnessing the opposite – now more than ever before we are seeing a substantial number of retirees buying up luxury apartments in order to fund their retirement lifestyle. In fact in my lifetime I have never seen a more large-scale acceptance towards apartment living from retirees than right now.

In the past six months alone, we have seen an astounding number of retirees purchasing off-the-plan apartments.

As an example, more than 70% of our Somers Avenue project in Malvern was sold to retirees, while at another luxury off-the-plan project in Doncaster, Arbor, retirees bought over 65 percent of the apartments sold. These retirees are either choosing apartment living of their own volition, or often they are assisted by their children who are supporting the move to downsize.

Whether you are for or against the merits of apartment living, there is no denying that the apartment landscape has changed drastically over the past five years.

No longer restricted to towering high-rise developments in the CBD, developers now understand that new demographics are adapting to apartments and are therefore delivering more larger-than-average, luxury apartment offerings in boutique developments in quiet tree-lined streets, to cater for these new buyers.

This has in turn opened up a host of opportunities for the retiree market who is seeking to swap their sprawling, aging home for something that offers a low-maintenance lifestyle without compromising on luxury or convenience.

According to the government’s Housing Decisions of Older Australians report, the primary motivator when retiring is to remain in a familiar community that’s close to family friends. Second is the desire to access amenity that assists with ageing in the form of facilities and low-maintenance housing.

That’s where these boutique apartment projects become so appealing to retirees.

Firstly they are located in areas that are familiar to the location the retirees know and love, and secondly they offer a spate of facilities and communal amenity that encourages community interaction and ease of living. I believe the recent shift in the retiree market’s mindset is only the beginning; as more older buyers recognise the benefits of apartment living, more will follow suit.

Which brings me to highlight the need for the current government neighbourhood planning zones to be overturned in order to fuel the demand for these sorts of boutique developments. Right now, under the current planning scheme, most of the ideal locations for these boutique developments – quiet side streets in Melbourne’s eastern suburbs – are restricted to two-lot subdivisions, with main roads the only approved locations for future development growth.

As retirees embrace apartment living, we need to meet these new expectations and provide suitable dwelling options to meet the heightened demand. If we don’t enforce change we will be unable to deliver the sorts of boutique apartment options that appeal to the retiree market.

In my opinion, it is this underlying lack of supply, not a voluntary refusal from retirees to downsize, which will cause a shortage of housing supply for future generations.

Leonard Teplin is a director of <a href="http://www.marshallwhiteprojects.com.au/">Marshall White Projects</a>.
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Retirement is no barrier to apartment living

<html><body>
It’s been just over two years since the State Government’s controversial Neighbourhood Residential Zones were gazetted, which restricted new apartment development to certain ‘zones’ within each suburb, thus limiting development on side streets and other designated areas to single-lot dwellings.

The planning amendment was one long fought for by the residents of some of Melbourne’s most affluent suburbs like those surrounding Marshall White’s four offices through Boroondara, Stonnington and Bayside, as they strove to protect their leafy-green streetscapes from new apartment buildings.

Many would say it’s been a win for the residents, however something incredibly interesting and unprecedented is now occurring as a result.

For the first time in recent memory, the same demographic which once vehemently opposed new developments - baby boomers and empty nesters - are looking to sell the family home and purchase a large, bespoke apartment in the same neighbourhood they know and love.

It’s an extraordinary shift in sentiment from say two or three years ago when this particular demographic wouldn’t even consider living in an apartment.

On the contrary, now they have wholeheartedly embraced it, but there’s just one problem – the type of apartments they are seeking; boutique projects located on quiet side streets away from the hustle-and-bustle of the main road traffic, don’t actually exist anymore due to the flow on effects of the new planning regulations which have severely restricted new apartment growth in these suburbs.

Developers are now adjusting to the new regulations by purchasing what properties they can on main roads, and redeveloping them into large-scale new apartment buildings. Some landowners are even now cashing in by combining their sites and selling multiple adjoining parcels for a huge profit.

But, with development opportunities now so restricted, developers simply can’t keep up with the demand for more boutique developments of say 10 luxury apartments in quiet neighbourhood streets.

As baby boomers and empty nesters continue to flood the market, there is simply not enough new product coming to market in Melbourne’s inner east and northern suburbs to keep up with demand.

With the rapidly changing market, the time is now to reassess the neighbourhood planning guidelines in order to free up the pipeline of new apartment developments in order to adequately satiate demand.

A market as dynamic as Melbourne’s demands flexible planning schemes that provide clarity, are nimbly changed and evolved to keep up with constantly changing market needs.

This new wave of apartment-embracing downsizers will just continue to grow as more and more people seek to trade in their family home for something more manageable, yet still with the luxury finishes and amenity to which they have become accustomed.

Our planning regulations are behind the times and we urgently need reform in order to better serve the market in the future.

Leonard Teplin is Director of Melbourne-based <a href="http://www.marshallwhiteprojects.com.au/">Marshall White Projects</a>.
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