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

Joel Robinson

The apartment price gap drawing Sydney buyers west

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

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

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

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

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

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

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

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

Melbourne apartments

The multi-award-winning Melbourne property developer Beulah has secured its next mixed-use development site.

The developer, headed by managing director Jiaheng Chan, has secured a corner site in Prahran, paying $11.4 million for the 1,132 sqm site at&nbsp;&nbsp;182-194 Commercial Road, opposite the well known Prahran Market.

They have plans to activate the community through a sustainable mixed-use development.

The site, on the corner of Izett Street, comprises six adjoining addresses near the recently completed $60 million Prahran Square project.

On the block is a multi-tenanted 1,087 sqm building with potential for future retail activation.

<a href="/news/vic/check-out-beulahs-best-melbourne-residential-projects">Read more:&nbsp;Check out Beulah&#39;s best Melbourne residential projects</a>

Jiaheng Chan said the team is excited to be able to contribute to the urban streetscape of Prahran as it continues to gentrify and evolve over time.

&ldquo;Prahran is currently going through an exciting evolution that is seeing a new generation of businesses set up shop, from forward-thinking restaurants and lifestyle-focused hotel chains,&quot; Chan said.

&ldquo;We&rsquo;re looking forward to offering a product that will add immense value to this inner-city pocket and will complement the renowned Prahran Market via retail, dining and public amenity, coupled with a residential offering not yet explored in this area.

&ldquo;This site will complement our growing boutique portfolio, which sits alongside the other growing arm of our business and that is large-scale, urban renewal precincts, such as that in Southbank.&rdquo;

Beulah are developing STH Bnk by Beulah, a mixed-use development on the current BMW showroom site on Southbank&#39;s&nbsp;City Road. It will comprise nearly 500 apartments and around 390 hotel rooms, as well as retail and office space.

[smartcode_project:default project_id=8804 project_image_fid=27929]

Beulah also recently announced the imminent release of its newest and most innovative residential project, The Wilds. The development features a collection of 15 carbon-neutral homes designed by leading design firm, Edition Office.

&ldquo;The global changes experienced in 2020 saw consumers prioritising health, wellbeing and sustainability, which closely informed our approach to The Wilds.

&quot;Similarly, we intend to draw on this research and approach in creating a thoughtful, sustainable and wellness-inspired design for Prahran,&rdquo; Chan said.

They have plans to activate the community through a sustainable mixed-use development.



Beulah secure Prahran site for mixed-use development

Apartment values across Melbourne rose 0.5 per cent over August, according to the latest data released by property data firm CoreLogic.

The&nbsp;August gains put apartment values up 1.6 per cent over the quarter, after 0.4 per cent growth over July and 0.8 per cent in June.

Over the year to date, values are up 6.6 per cent, with the median now sitting at $615,909. The median apartment price at the start of 2021 was $577,000.

[smartcode_project:default project_id=5328 project_image_fid=163914]

Melbourne house values rose 1.4 per cent over August, marking another month where house performance continues to outstrip apartments, although the gap is starting to narrow given renewed housing affordability constraints.

Throughout the first quarter of the year, capital city house values were rising approximately 1.1 percentage points faster than units each month. By August the average performance gap reduced to 0.7 percentage points.

CoreLogic&#39;s research director Tim Lawless believes the convergence of growth in house values and unit values could be another demonstration of affordability becoming more challenging.

[smartcode_project:default project_id=103179 project_image_fid=167471]

&ldquo;The narrowing gap between house and unit value growth is most noticeable in Australia&rsquo;s most expensive city, Sydney, where the monthly growth rate for houses was 2 percentage points higher than units in March.

&quot;That &lsquo;gap&rsquo; has now reduced to 0.6 percentage points in August.

&quot;Based on median values, Sydney units cost almost $470,000 less than a house. At the same time, the growth gap between houses and units in Melbourne and Brisbane has widened.&rdquo;

Unit rents are starting to rise in Sydney and Melbourne, which is a good metric for investors to follow. Australia&#39;s two biggest capitals were the hardest hit by the strict border closures and lack of international migration.

[smartcode_project:default project_id=100675 project_image_fid=170523]

Nationally, rents have lifted by 8.2% over the 12 months ending August, the largest rise in rents since 2008.

&ldquo;The weaker trend in unit rents across Australia&rsquo;s two largest cities is likely a reflection of their greater exposure to temporary overseas migrants as a source of rental tenancy, especially foreign students who would normally underpin inner city high rise rental demand, Lawless says.

&quot;The sharp drop in demand due to closed borders has been exacerbated by high supply levels as both cities come out of an unprecedented surge in inner city apartment construction,&rdquo; Lawless added.

Sydney unit rents have consistently risen each month during 2021, while in Melbourne, unit rents have been rising since June.

Unit rents are starting to rise in Sydney and Melbourne, which is a good metric for investors to follow

What happened to Melbourne apartment values over August?

Investors have been witness to the growing attractiveness of Melbourne&rsquo;s Heidelberg&nbsp;West in recent years, as the ramping government expenditure totalling more than half a billion dollars has started to snowball the suburb&#39;s underlying value.

Heidelberg West apartments have seen 5.3 per cent price growth per annum over the past 10 years, according to SQM Research. Population growth has been similarly steady, up 1.3 per cent per annum for the past decade, ABS and Urbis data found.

Demographics in the Heidelberg West area reflect a younger age demographic, with a higher proportion of residents renting their property. Some 59 percent of residents are renters, more than double the 28 per cent in Greater Melbourne average.

[smartcode_project:default project_id=628 project_image_fid=178962]

And there&rsquo;s potential for further growth in the area due to the $160 million Olympia Housing Initiative, which is set to revitalise housing in Heidelberg West, Heidelberg Heights and Bellfield. Outdated public housing is being replaced by more housing more appropriate to local demographics.

There&rsquo;s also the proposition of the $50 million redeveloped town square in Heidelberg West, as well as $210 million development in neighbouring Ivanhoe of an 8,900 sqm site that will include residential, aged care and child care facilities.

Growth in median weekly rents has been steady in the Heidelberg West/Heidelberg rental area over the past decade. Data indicates that one-bedroom units achieved the strongest growth, at 6.5% per annum for the last 10 years. This is above the Greater Melbourne average of 5%. Over the same period, two and three bedroom units grew at 5.2% and 4.3% per annum respectively, indicating continued demand for rental units across all sizes.

[smartcode_project:default project_id=628 project_image_fid=174210]

Heidelberg West has the lowest rental vacancy rate among the surrounding suburbs, currently at 1.3%.&nbsp;

Cultivate, at 294 Bell Street, has a walk score of 80, indicating a very walkable neighbourhood with easy access to grammar schools and colleges, universities, hospitals, research hubs and major retail centres. It also has extensive transport links and a direct road network.

[smartcode_project:default project_id=628 project_image_fid=178965]

Cultivate is located 12km north east of Melbourne&rsquo;s CBD. It is close to a range of employment, education, retail and services hubs including:&nbsp;

<ul>
	<li>Northland Shopping Centre</li>
	<li>Heidelberg Activity Centre</li>
	<li>Biomedical Alliance Precinct Specialised Activity Centre</li>
	<li>La Trobe University Bundoora</li>
</ul>

The proportion of residents working in white collar roles has been on the rise in Heidelberg West. The young age profile, high proportion of renters and prevalence of lone person households, is supportive of demand for apartment housing.&nbsp;

This is typical of a suburb that is undergoing gentrification and the same trend is evident in the adjacent suburbs nearer the Melbourne CBD, which have seen healthy price growth. It was even named a National Employment and Innovation Cluster by the Victorian Planning Authority.

National Employment Clusters are defined as, designated geographic concentrations of interconnected businesses and institutions that make a major contribution to the national economy and Melbourne&rsquo;s position as a global city.

[smartcode_project_cta: project_id=628]

Demographics in the Heidelberg West area reflect a younger age demographic, with a higher proportion of residents renting their property

jordan_55689

Why investors are keen on Heidelberg West apartments, Cultivate

Owner-occupiers seeking an apartment can now find it more easily than ever, with renowned developer Central Equity offering personalised online tours of their Southbank tower, FOCUS.

Online tours commence September 8th at the FOCUS Sale Event - with access to an exclusive offer to purchase with 5% deposit, no more to pay until settlement.

[smartcode_project:default project_id=3260 project_image_fid=62315]

There are 15 different apartment layouts which can be selected as part of the tour.

Another bonus for owner-occupiers looking to buy in the building is that they can save up to $51,000 in stamp duty on their brand new apartment.

[smartcode_project:default project_id=3260 project_image_fid=62317]

Investors haven&#39;t been left in the cold by Central Equity, who are offering a two-year rental guarantee to investors - available during the online Sale Event.

Investors can also save up to $27,000 in stamp duty savings as part of the government initiative.

Prices for one-bedroom apartments&nbsp;start from $499,000. Two-bedroom apartments start from $699,000&nbsp;and three-bedders are priced from $899,000.

FOCUS apartments have been designed with space in mind, with near three metre ceilings in the apartments, which have floor to ceilings windows to let in light and take in views of the city.

Resident amenity at FOCUS will include a luxury 17-seat theatre, a glass-roofed&nbsp;heated&nbsp;indoor swimming pool, and a gym with a sauna. There will be a communal lounge space, complete with a fireplace, kitchen and dining area which opens to an&nbsp;outdoor space with further dining and a barbecue.

Buyers can <a href="https://focusmelb.com.au/event?utm_source=urban&amp;utm_medium=portal&amp;utm_content=story">book a spot for a personalised tour of FOCUS</a>, which includes chatting with consultants, seeing the latest designs, floorplans, views and interiors, <a href="https://focusmelb.com.au/event?utm_source=urban&amp;utm_medium=portal&amp;utm_content=story">here</a>.

[smartcode_project_cta: project_id=3260]

Experience 15 different apartment layouts at Central Equity's Sale Event from September 8

Tour FOCUS, Southbank apartments without leaving your home

Apartment developers are getting wise to how important amenities are in developments, with residents expecting to spend more time at home than ever before.

Working from home seems to be here to stay, and the importance of having amenity such as a swimming pool and gym within the same community is an attractive proposition for the time-poor workers.

One of the biggest trends slowly coming through is the virtual golf simulator, allowing keen golfers or beginners to golf privately, inside, and in the same building they live.

Urban has picked out some of the best new apartment developments across Melbourne, currently on the market, which have a golf simulator.

<h2>Ivanhoe Gardens</h2>

Address:&nbsp;43 Linden Avenue, Ivanhoe VIC 3079

[smartcode_project:default project_id=22308 project_image_fid=75041]

Residents at Blue Earth Group&#39;s latest apartment development, Ivanhoe Gardens in Melbourne&#39;s north-east, have more than just virtual golf access with over 2,000 sqm of dedicated amenity space.

The development, built across two stages by leading builder Hamilton Marino to designs by CHT Architects, has 13 different entertainment zones.

Ivanhoe Gardens is situated just off Bell Street, Ivanhoe&rsquo;s main arterial road. It is near&nbsp;a significant employment hub, with Victoria&rsquo;s largest medical precinct and La Trobe University within a 4-kilometre radius.

<h2>Riverbank -&nbsp;Park House</h2>

Address:&nbsp;631 Victoria Street, Abbotsford VIC 3067

[smartcode_project:default project_id=4136 project_image_fid=166459]

The Salta Properties Abbotsford apartment development Riverbank,&nbsp;on the banks of the Yarra River immediately opposite Kew and Studley Parklands, has a golf simulator for its residents.

It&#39;s also located across the river from Yarra Bend Public&nbsp;Golf Course and Studley Park Par 3 Golf Course.

Riverbank is part of the recently completed Park House development, which has been popular with buyers who want to be close to the city.

The nine-level building was&nbsp;designed by SJB Architects and has been&nbsp;finished with interiors by renowned Sue Carr of Carr Design Group.&nbsp;

Prices start from $505,000 for one-bedroom apartments. Salta are currently offering buyers 50 per cent stamp duty savings until the end of September,&nbsp;after the VIC government stopped the first home buyer stamp duty initiative earlier in the year.

<h2>Australia 108</h2>

Address:&nbsp;70 Southbank Boulevard, Southbank

[smartcode_project:default project_id=582 project_image_fid=10405]

All Australia 108 residents have access to the 70th floor facilities inside the Star Club including vaunted virtual golf and even&nbsp;an infinity pool where it&rsquo;s possible to look down on an Australia Open match, as well as many more.&nbsp;The Star Club offers&nbsp;2,800 square metres of amenities.

Designed by Fender Katsalidis, it is the tallest residential building in the southern hemisphere and plays host to some of Melbourne&#39;s priciest sky-high penthouses.

The&nbsp;World Class Land development is located a three minute walk from the Crown Casino and entertainment complex, and a seven minute walk to Flinders Street Station.

Apartment developers are getting wise to how important amenities are in developments, with residents expecting to spend more time at home than ever before


Golf at home: Melbourne's best new apartment developments with on-site golf simulators

As the return to the office stalls due to ongoing lockdowns in Sydney and Melbourne, discerning apartment developers are pivoting their approach to apartment design.

If not already as standard, a number of developers are going hard on the work-from-home office space, whether it&#39;s part of the wider development or within the apartments.

More than one-10th of Melbourne&#39;s office floor space was untenanted in July, the Property Council of Australia&#39;s Office Market Report showed. The St Kilda Rd precinct had Melbourne highest vacancy rate at 16.3 per cent, followed by Southbank by 15.2 per cent.

Chris McCue, managing director at architecture and design firm Carr, says he has seen the&nbsp;demand for a tailored home office space continue right through the pandemic.

&quot;The multitude of workspaces within a single dwelling has definitely risen as we move to more longer-term workplace flexibility and adaptive environments,&quot; McCue said.

The customisable apartments at Riverlee&#39;s mixed-use Melbourne development Seafarers had a recent buyer re-jig&nbsp;the floorplan, taking out the laundry sink which was moved to the ensuite to accomodate a study nook large enough for two people, fitted with cabinetry and shelving.

[smartcode_project:default project_id=27728 project_image_fid=97028]

The developer Riverlee also focused on the home office boom by adding shared facilities in the 123-room development, located in the same Flinders Street building as&nbsp;Australia&#39;s first 1 Hotel.

Residents will have access to a number of meeting rooms and breakout areas, an 800-seat function space, a residents-only library and communal lounge. There&#39;s also onsite building support staff who can assist with printing.

The home office facilities, as well as the access of&nbsp;exclusive privileges when staying at a&nbsp;1 Hotel&nbsp;worldwide, has seen a big uptake in purchases by entrepreneurs and executives.

Seafarers was&nbsp;designed by Fender Katsalidis on the banks of the Yarra River. They were tasked with&nbsp;reimagining&nbsp;the heritage-protected Goods Shed 5, preserving&nbsp;the only intact remnants from the days before containerisation.

McCue said Seafarers&nbsp;faceted exterior does more than create a striking urban presence, it yields uniquely large floorplans.

[smartcode_project:default project_id=27728 project_image_fid=73042]

&quot;From the four-bedroom penthouses to two-bedroom residences, each interior is meticulously planned to maximise natural light, external views and connection to the textures and rhythms of its riverfront setting,&quot; McCue said.

&quot;Luxury can mean so much in terms of spatial and service amenity and is where Seafarers achieves luxury in many ways.

&quot;From a service inclusion and connection to 1 Hotels, to the kitchen joinery and fixtures inclusions, to the inclusion of generous and highly-functional storage.

[smartcode_project:default project_id=27728 project_image_fid=161089]

&quot;There was a lot of consideration around house-like storage amenity, as well as spatial amenity and flow through spaces and connection.

&quot;Our key spatial thinking and beliefs include connected indoor and outdoor living spaces, controlled and extended aspects, extended views that are aligned with internal planning.&quot;

[smartcode_project_cta: project_id=27728]

Chris McCue, managing director at architecture and design firm Carr, says he has seen the demand for a tailored home office space continue right through the pandemic

How apartment customisation and adding a home office is driving off the plan sales

Residents have moved in to the completed Glen Waverley apartment project Sky Garden.

The striking project was developed by Golden Age Group to a design by Rothelowman.

With buyers having moved in, Urban spoke to first home buyer Adam Feng about his property buying journey, and what he loves about Sky Garden.

[smartcode_project:default project_id=2881 project_image_fid=168799]

MK: How did you hear about Sky Garden and were you in the market for a new property at the time?

AF: I used to work at The Glen and would often see Sky Garden salespeople at the kiosk and display suite. At the time I didn&rsquo;t consider buying, but three years later after making enough money, I chose to buy at Sky Garden.

MK: What stood out to you about Sky Garden that assisted you in your decision to buy?

AF: The outdoor environment, especially the huge garden podium. I walk around it at least five times a week, if not every day.&nbsp;

Also, the lift goes directly to the lower ground floor, where The Glen is, so that&rsquo;s super convenient.

The soundproofing in my apartment is really effective. Even though I&rsquo;m facing Springvale Road which can be quite busy, the noise is completely blocked out.&nbsp;

<img alt="" height="898" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2021-08-30_at_11.33.31_am.png" width="1254" />

MK: What made you decide to buy off-the-plan rather than an existing dwelling?

AF: My apartment was new but already finished when I moved in.&nbsp;

MK: What do you love most about living at the development?

AF: I love the sauna and pool. Not many people use it at 7am, so when my girlfriend and I work out in the morning, we have the whole place to ourselves. We use it at least five times a week.&nbsp;

[smartcode_project:default project_id=2881 project_image_fid=168800]

MK: Is this your first property purchase? How did you find the due diligence research and purchase process?

AF: Yes, it&rsquo;s my first property purchase. I decided I wanted to buy at 18 and started saving, and settled at Sky Garden at the age of 20. The purchase process was good, my only recommendation would be to ensure you do enough research on your own personal financial situation before looking to buy.&nbsp;

MK: Which colour scheme did you choose for your apartment and how did you personalise your home?

AF: I chose my apartment for its lucky number (909A)&nbsp;over the colour scheme (which is light) and also for its view facing the bay and south side. We can see the police academy on top of the hill which is pretty cool.&nbsp;

Our one-bedroom apartment is perfect for my girlfriend and I, but we bought a sofa bed in case we have visitors. There is a large floor-to-ceiling window, which we have positioned my girlfriend&rsquo;s piano beside &mdash; that&rsquo;s probably the most creative thing we have done with the place.&nbsp;

<img alt="" height="828" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2021-08-30_at_11.33.18_am_0.png" width="1374" />

MK: Would you recommend living at a lifestyle precinct like Sky Garden? &nbsp;

AF: I would definitely recommend Sky Garden. Firstly because it&rsquo;s super convenient in terms of location and having The Glen right downstairs.&nbsp;

Secondly, the views are unobstructed as we&rsquo;re the tallest building in the area so when I look out my window there&rsquo;s nothing in the way, unlike the city.&nbsp;

[smartcode_project_cta: project_id=2881]

Urban spoke to first home buyer Adam Feng about his property buying journey

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Why a first home buyer secured a Sky Garden, Glen Waverley apartment

Developer EcoWorld International is selling a newly Yarra One completed apartment via an online auction system.

The apartment is in its recently completed Fender Katsalidis-designed project, located in South Yarra on Claremont Street.

Yarra One general manager Jeffrey Ong said the online auction provided a &quot;new exciting&quot; way of selling apartments within a multi-residential sales setting.

The auction date is scheduled for September 15 for 1508/16 Claremont Street, South Yarra.&nbsp;

[smartcode_project:default project_id=3127 project_image_fid=31085]

To be qualified to partake in the online auction, interested parties will be required to submit an opening bid, alongside their settlement terms and deposit, which will then be reviewed by the team at Yarra One.&nbsp;

If the opening bid, deposit and settlement terms are deemed acceptable, purchasers will be qualified to participate in the online auction.

If the reserve price is not met, the auction will be paused and the team at Yarra One will negotiate as to whether the bid is acceptable or if a counter offer is required.

&quot;If successful, Yarra One will look to auction off other apartments within the project,&quot; Ong said.

[smartcode_project:default project_id=3127 project_image_fid=31092]

One-bedroom apartments within Yarra One range in price from $450,000 to $650,000.

Yarra One encompasses 247 one, two and three-bedroom luxury apartments, as well as, three penthouses and a wide range of innovative amenities throughout including a wellness precinct equipped with a gymnasium, outdoor spa, dance studio and yoga room.

[smartcode_project_cta: project_id=3127]

Yarra One general manager Jeffrey Ong said the online auction provided a new exciting way of selling apartments within a multi-residential sales setting

jchancellor

EcoWorld International puts new Yarra One, South Yarra apartment up for online auction

Highpark Seasons, the new apartment development in Melbourne&#39;s Glen Iris, was targeted at locals and owner-occupiers straight from the outset.

And the COVID-19 lockdowns has only seen further demand from locals who want to live in the picturesque and peaceful location, right on Gardiners Creek&nbsp;and the popular Gardiners Creek trail.

&quot;People have really re-connected with walks over the last 16 months or so&quot;, Jellis Craig head of projects Stephen Bowtell, who is marketing the apartments, says.

&quot;It&#39;s a bit of an island site, not built on any side, and residents will easily be able to access the nature track.&quot;

The development has been popular&nbsp;with city dwellers, who, since the onset of COVID, have been&nbsp;reconnecting with nature through long socially-distanced walks.

[smartcode_project:default project_id=3224 project_image_fid=171807]

Bowtell says the developer, David Li&#39;s Pasino Group, wanted to keep the residents as local as possible, with few investors. To do this he made the conscious decision not to sell the development through&nbsp;channel groups or to investor databases.

Highpark is a passion project for Li, who is a well-known philanthropist and the chairman of the Melbourne Symphony Orchestra.

&quot;He&#39;s not bottom-line focused, he lives locally, and his kids will likely take apartments in the building when it is completed,&quot; Bowtell added.

Highpark is under construction now through Crema Group&#39;s high-end construction arm Camilo, with completion expected toward the end of 2022.

There&#39;s been keen interest by first home buyers, given the affordable&nbsp;$480,000 entry point for a one-bedroom apartment. There&#39;s been a number of purchases by families who live locally and within walking distance who are buying for their kids.

[smartcode_project:default project_id=3224 project_image_fid=171809]

&quot;There&#39;s no difference in finishes between one bedroom apartments and the penthouse,&quot; Bowtell said.

The development has been designed by Rothelowman, one of Melbourne&#39;s top architecture firms, to react to its location, with the inspiration coming from the seasons of nature. There&#39;s extensive outdoor entertaining areas in the apartments, as well as outdoor communal gardens and terraces.&nbsp;

[smartcode_project:default project_id=3224 project_image_fid=171815]

Four townhouses sit along the front of the development, directly on the trail. Three have already been snapped up.

Across the board Bowtell sees more enquiry during the lockdown months, around 20 per cent more week on week.

&quot;There&#39;s a build up of enquiry, with no one being able to buy anything else in the meantime.&quot;

Bowtell recently sold out Rosanna, a 27 townhouse development in Melbourne&#39;s north east, after just six weeks, with around four of those weeks spent in lockdown.

Highpark is under construction now through Crema Group's high-end construction arm Camilo, with completion expected toward the end of 2022

Why apartments at Highpark Seasons in Glen Iris were only really for locals

Melbourne&#39;s top advised townhouse sale was 7/120 Queens Parade, Fitzroy North at $1.8 million which came mid-last week.

And a warehouse style townhouse at 22 Reeves Crescent, Richmond fetched $1.41 million.

The three-bedroom, two-bathroom Fitzroy North townhouse was architecturally designed in the reinvention of the Selotta Shoe Factory.

The Jellis Craig price guide for the 1934 three level space had been $1.8 million to $1.9 million.

It last sold at $975,000 in 2007.

The adjoining 6/120 Queens Parade townhouse, also with three bedrooms, fetched $1.8 million in April. It first sold at $406,000 in 1998.

<a href="/developments/melbourne-vic?source_news_article_id=108214&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_melbournecbd_14.jpg" width="1200" /></a>

The original factory designed is credited to architect, H V Gillespie.

22 Reeves, just off Coppin Street, was marketed by the Biggin &amp; Scott agency as having a converted warehouse feel with a rustic industrial flare.&nbsp;

There are high 5m ceilings in the lounge area, plus exposed steel beams under its curved roof.

Melbourne vendors secured a 50 percent clearance rate ver the past week according to CoreLogic.

It was the priciest apartment sale across the nation over the past week.

There was a 61.8 percent success rate from the 345 apartment and townhouses results &nbsp;across the nation.

The national median sale price was calculated at $810,000 with Melbourne at $702,500.

Melbourne vendors had 249 auction offerings with 65 results yet to be advised.

Sydney vendors secured an 81.5 percent success rate.

Melbourne's top advised sale was 7/120 Queens Parade, Fitzroy North at $1.8 million which came mid-last week

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