&nbsp;

A local Australian has spent a Lower North Shore record $15.1 million at <a href="https://www.apartments.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, the new TOD above the recently opened Crows Nest Metro Station.

The buyer amalgamated a penthouse and sub-penthouse to create the triplex apartment that will have five bedrooms, five bathrooms, a private rooftop pool, expansive terrace, and panoramic views of Sydney Harbour and skyline. The building is being created by burgeoning developer Third.i, alongside joint venture partner Phoenix Property Investors.

The buyer was drawn to Elevate’s unrivalled connectivity, situated directly above the&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> Metro Station, and the vibrant lifestyle precinct that surrounds it. The Metro connects to the CBD in just seven minutes, and Chatswood in four.

[smartcode_project:default project_id=142550 project_image_fid=309367]

Designed by internationally acclaimed architects <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, Elevate draws inspiration from the ancient blue gum forests native to the area. The building is a Net Zero development, created in consultation with Indigenous communities and exceeding sustainability benchmarks. Interiors feature chevron-engineered timber flooring, natural stone benchtops, and premium Sub-Zero Wolf appliances, delivering timeless elegance and next-level comfort.

The exchange of the $15.1 million apartment, follows a recent $5 million sale, and over $30 million currently in expressions of interests. Interest in Elevate’s penthouse stock has surged, reflecting a strong appetite for ultra-luxury residences that combine design excellence with unmatched connectivity.

[smartcode_project:default project_id=142550 project_image_fid=309369]

“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group.&nbsp;

“These recent sales are a testament to the vision behind Elevate. It’s not just about luxury finishes or panoramic views, it’s about creating homes that are deeply connected to the city and the community. Buyers are responding to that. They want to live somewhere that offers more than just a postcode, they want culture, convenience, and long-term value. Elevate delivers all of that, and more.”

[smartcode_project:default project_id=142550 project_image_fid=297878]

As part of the Hume Place precinct, Elevate is transforming Crows Nest into Sydney’s most dynamic urban village. Elevate’s unique position directly above the metro, combined with its curated amenity offering, has made it a magnet for buyers seeking a future-proof investment and a vibrant urban lifestyle.

The next release at Elevate is expected later this year.

[smartcode_project_cta:default project_id=142550]

“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group


Joel Robinson

Third.i & PPI set Lower North Shore apartment record with $15.1m sale at Elevate Hume Place penthouse amalgamation

Sydney developer Deicorp is set to officially open its <a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill-nsw-2154">Showground Village</a> precinct in Castle Hill.

NSW Premier Chris Minns will attend the opening on Sunday August 31, alongside&nbsp;Minister for Planning and Public Spaces Paul Scully, The Hills Shire Council Mayor Dr Michelle Byrne, Landcom CEO Alex Wendler, and Deicorp Founder Fouad Deiri.

Located just moments from Hills Showground Metro Station, the centre spans 9,500 sqm across four levels and features 26 specialty retailers as well as a 1,400 sqm public plaza, creating a new community meeting point for shopping, dining, fitness, and everyday convenience.&nbsp;

Showground Village forms part of the Hills Showground Station Precinct, an urban renewal initiative led by Landcom and Sydney Metro that will provide for around 2,300 new jobs over the next 20 years and around 9,000 new homes.&nbsp;

Deicorp was recently approved for another new development next door to Showground Village.

The new five residential buildings in the East Showgrounds Precinct, will see another 873 dwellings delivered, as well as&nbsp;3,500 sqm of open public space in the form of landscaped courtyards, a public park and communal outdoor recreational space including a playground, barbeque area, and outdoor seating.

“This approval will allow us to start construction on a range of beautifully designed, conveniently located apartments and create another vibrant, walkable and well-connected community,” said&nbsp;<a href="https://www.apartments.com.au/developers/deicorp" target="">Deicorp</a>&nbsp;Founder Fouad Deiri.

“These new homes will provide their residents with a seamless connection to jobs and services along Metro North West, and the new&nbsp;<a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill" target="">Hills Showground Village</a>&nbsp;retail precinct currently under construction."

Deicorp has several thousand apartments in planning and under construction across Sydney, from Zetland and Five Dock to Crows Nest and Macquarie Park.

[smartcode_project_cta:default project_id=133881]

Deicorp, NSW Premier officially open Showground Village, new retail and hospitality hub in Castle Hill

ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

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

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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>

 
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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

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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

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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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