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

Prospect Apartments will rise 25 levels in the heart of Melbourne&#39;s Box Hill when completed in late 2022.

The building is being developed by the global developer R&amp;F Property, who pull inspiration from all over the world in their approach to residential development.

R&amp;F, who has offices in Melbourne and Brisbane, reached an all-time record turnover last year, and&nbsp;has 68 projects under development in 27 cities. R&amp;F has completed over 70 residential and commercial developments, with total assets of around $45 billion.&nbsp;

[smartcode_project:default project_id=3516 project_image_fid=153756]

&quot;We value our global heritage and bring intelligent designs that are inspired by international trends and innovation to provide investors and property owners with confidence and financial certainty,&quot; R&amp;F advise their clients.

<a href="/news/vic/the-six-top-selling-points-of-r-f-propertys-prospect-apartments-in-box-hill">Read more:&nbsp;The six top selling points of R&amp;F Property&#39;s Prospect Apartments in Box Hill</a>

Locally, R&amp;F Australia are behind the completed mixed-use development Brisbane 1, Footscray&#39;s under construction Millhouse, and Live City, also in Footscray, the huge redevelopment of the 1900s industrial complex of the old&nbsp;Kinnears&nbsp;Ropeworks.

They have five projects planned and two under construction across Melbourne and Queensland in total.

Prospect Apartments have been designed by R&amp;F&#39;s go-to architecture firm Hayball, the&nbsp;architecture, interior design and urban design practice with offices across Australia.

<a href="/news/vic/rich-in-diversity-and-community-spirit-find-your-way-to-melbourne-s-box-hill">Read more:&nbsp;Rich in diversity and community spirit: Find your way to Melbourne&rsquo;s Box Hill</a>

Hayball, led by Tom Jordan and Sarah Buckeridge,&nbsp;has received a number of awards, having completed numerous single and multi-residential buildings, schools, universities, commercial developments and urban designs for entire suburbs, across Australia, Southeast Asia and China.

[smartcode_project:default project_id=3516 project_image_fid=153760]

Hayball senior associate Andrew Moulding says&nbsp;Prospect offers an iconic development to Box Hill - a series of residential opportunities in the heart of one of Melbourne&#39;s most vibrant and abundant communities.

One-bedroom apartments in Prospect Apartments start from $422,370. Two-bedders are priced from $606,928.&nbsp;

R&amp;F are currently offering $20,000 discounts on select apartments for a limited time.

[smartcode_project_cta: project_id=3516]

"Prospect offers an iconic development to Box Hill - a series of residential opportunities in the heart of one of Melbourne's most vibrant and abundant communities", Hayball senior associate Andrew Moulding says.

Meet the team behind Box Hill's latest apartment development, Prospect Apartments

Melbourne apartment and townhouse vendors secured a 68 percent success rate at weekend auctions.

Melbourne&#39;s clearance rate was well up on the prior weekend&#39;s 57 percent success rate.

The Melbourne median apartment/townhouse sale sat $698,000 from its 153 sales, with 53 results yet to be tabulated by Corelogic.

Its top sale was a three bedroom, three bathroom Hawthorn townhouse that fetched $1.6 million at 9/1 Muir St in the Yarra-Bank complex.

<a href="/developments/melbourne-vic?source_news_article_id=107879&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_13.jpg" width="1200" /></a>

Its Kay &amp; Burton/Noel Jones conjunctional price guide had been $1.35 million to $1.485 million.

The three storey townhouse last traded at $915,000 in 2009.

It was Millennium Properties&rsquo; first project in 1996, as a partner with Salta Properties on the $20 million development with 28 townhouses.

Millennium Properties Pty Ltd was established in 1996 as a 50/50 joint venture between Salta Properties and Psaltis Ryobi Group Pty Ltd.

Sam Tarascio Snr and Nick Psaltis commenced their association in 1985 on the Victorian Transport Centre (VTC) project which Salta was developing in Somerton, Victoria.&nbsp;

The Millennium Properties website lists its latest project as Galada Gardens, Barry Road, Thomastown in the Whittlesea district following the rezoning of a 12 hectare site. 
&nbsp;

The three storey townhouse last traded at $915,000 in 2009.

jchancellor-FAypfDUnLy

1990s Millennium Properties Hawthorn townhouse tops weekend auction sales

Chelsworth is among&nbsp;developer Bensons Property Group&rsquo;s latest developments to be delivered in Melbourne&rsquo;s north-east.

Situated at 1031 Heidelberg Road in Ivanhoe,&nbsp;the project&nbsp;offers 50 apartments in two-bedroom configurations, set between parklands and Ivanhoe&#39;s best transport links to the CBD.

Urban has taken a deeper look at what Chelsworth can offer buyers.

1. Sought-after location

[smartcode_project:default project_id=3309 project_image_fid=169303]

Situated in the&nbsp;premium Melbourne suburb Ivanhoe, Chelsworth overlooks leafy treetops and is surrounded by the convenient education, transport and leisure offerings.

The suburb is renowned for its abundance of private and public school offerings, vibrant caf&eacute; culture and the bustling Upper Heidelberg Road.

&ldquo;Prestigious educational facilities and family friendly amenities have made Ivanhoe one of the most highly sought-after suburbs in Victoria&rdquo;, Bensons advise.

2. Designed by local architects

[smartcode_project:default project_id=3309 project_image_fid=169317]

Chelsworth showcases the best of modern architecture, presenting itself as a piece of public artwork and grand complement to the streetscape.

Designed by Melbourne-based architects, BG Architecture, the premium development features a combination of face brick and timber cladding finishes that provide a soft visual blend with the surroundings.

The firm, established by Donna Brzezinski and Adam Grundmann, is recognised for its design adaptability and expectation for high quality.

Past residential projects include&nbsp;Citiplan&rsquo;s Richmond Place in Richmond&nbsp;and&nbsp;ITUM&rsquo;s Hunter Apartments in Prahran.

&nbsp;3. Sophisticated living spaces

[smartcode_project:default project_id=3309 project_image_fid=169313]

Each residence has been designed with a classic, neutral palette, full-height, glass sliding doors and functional floorplans.

&ldquo;The apartments are practical in use and sophisticated in design, embracing an urban, stylish aesthetic,&rdquo; Bensons say.

From their private terrace, homebuyers can soak up sunlight and enjoy views across leafy treetops to the Melbourne CBD.

The kitchens feature European appliances, stone benchtops and custom-designed joinery with a concealed fridge upgrade option.

4.&nbsp;Enviable amenity &nbsp;

[smartcode_project:default project_id=3309 project_image_fid=169316]

Chelsworth is perfectly positioned to enjoy the essence of Ivanhoe living, with lush parklands and green open spaces within walking distance.

Some of Melbourne&rsquo;s most picturesque parklands are nearby, such as Chelsworth Park, Ivanhoe Park and Wilson Reserve. There&#39;s also the&nbsp;walking or cycling routes;&nbsp;the Main Yarra Trail and Darebin Creek Trail.

Residents are also in close proximity to the Ivanhoe Public Golf Course, as well as the Ivanhoe Makers Market and Hatch Contemporary Arts Space.

5. Enter a strong market

[smartcode_project:default project_id=3309 project_image_fid=79486]

According to SQM Research, Ivanhoe has a median unit price of $771,398, significantly higher than the metropolitan Melbourne median unit price of $563,910.

&ldquo;Ivanhoe is home to many established families, while an abundance of amenities, as well as proximity to public transport and major arterials, makes it a popular choice for all ages&rdquo;, Bensons state.

Two-bedroom units have weekly asking rents of $416, a 2.3 per cent per annum change over the last ten years, according to SQM Research.

The marketing materials claim&nbsp;the properties in the area boast&nbsp;an annual capital growth of six per cent.

[smartcode_project_cta: project_id=3309]

Chelsworth is amongst developer Bensons Property Group’s latest developments to be delivered in Melbourne’s north-east.

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Five things we love about Bensons Property Group’s Chelsworth at Ivanhoe

Developers are seeing increased interest in townhomes as homebuyers in the inner-city area seek convenient, spacious living.

Townhomes are typically the next step from apartment living, offering the extra space a growing family needs.

Urban takes a look at four new townhomes in Melbourne&rsquo;s south-east marketed through local real estate agent Gary Peer.

1. Ivori,&nbsp;Glen Iris 
Developer: Golden Ratio Projects 
Four-bedroom townhomes from $1,690,000

[smartcode_project:default project_id=105005 project_image_fid=168416]

Situated in the heart of Melbourne&rsquo;s south-east, Ivori boasts eight exclusive townhomes that reflect the unique language and character of Glen Iris.

Designed by Mezz Group, the homes boast spacious layouts and high-quality finishes, including full-height joinery, generous storage, Asko appliances and brass tapware.

[smartcode_project:default project_id=105005 project_image_fid=168417]

Set in the established Glen Iris, residents can enjoy Ivori&rsquo;s great location close-by great schools, public transport and green pockets.

2. ALRAE, St Kilda East 
Developer: PAD Urban 
Three-bedroom townhomes from $1,545,000

[smartcode_project:default project_id=31934 project_image_fid=168456]

A luxury development of just six townhomes, ALRAE provides a stunning example of what tonwhome living can be.

On the edge of Alma Village, the residences are located in one of St Kilda East&rsquo;s most beautiful streets and boast exciting and unique designs by ADDARC.

[smartcode_project:default project_id=31934 project_image_fid=168457]

The development features large light-filled courtyards, custom-designed kitchens, generous storage options and two car spaces with a djoining personal storage area.

3. The Murrum, Murrumbeena 
Developer: Mazor Group 
Four-bedroom townhomes from $1,175,000

[smartcode_project:default project_id=7871 project_image_fid=26138]

Adjacent to Murrumbeena Park, The Murrum feature a collection of 15 three and four-bedroom townhomes that blend seamlessly with the local character.

Designed by Bayley Ward, each residence has its own distinctive identity with an innovative design and European influences.

[smartcode_project:default project_id=7871 project_image_fid=71891]

The Murrum is designed to suit families, professionals and downsizers with low-maintenance living, expansive bedrooms and lavish bathrooms.

4. The Lily, Ormond 
Developer: Abode18 
Three-bedroom townhomes from $1,195,000

[smartcode_project:default project_id=31659 project_image_fid=169796]

Surrounded by prestigious schools and walkable amenity, The Lily boasts a series of two and three-storey townhomes in the sought-after suburb of Ormond.

Delivered by privately-owned development company Abode18, these sophisticated homes display a striking architecture amongst the lush tree-lined Lillimur Road.

[smartcode_project:default project_id=31659 project_image_fid=169800]

Designed by ADDARC, the residences feature open-plan kitchen and dining areas, comfortable family space, private courtyards and two car spaces.

Urban takes a look at four new townhomes in Melbourne’s south-east marketed through local real estate agent Gary Peer. 

Luxury family homes: Four townhomes for sale in Melbourne’s south-east

The Melbourne apartment developer Pace has seen a spike in sales and inquiries from first home buyers who are finding the established housing market too pricey.

Pace sales and marketing director Ashley Bramich said the developer had been averaging 19 sales a month at its 263-unit Pace of Blackburn project.

It compared with 13 sales before the pandemic at the 160 Whitehorse Road, Blackburn complex designed by Ascui &amp; Co Architects.

[smartcode_project:default project_id=7211 project_image_fid=158008]

The current prices start at $395,000 for one bedroom apartment, from $515,000 for two bedrooms and $805,000 for three bedroom apartments.

Its social media marketing references the impact of the pandemic.

"Overseas travel may be off the cards, but resort-style living? It’s yours for the taking with Pace of Blackburn set to feature a lavish outdoor pool deck complete with a children’s splash pool. Your daily errands will also be taken care of with a dedicated concierge, meaning you can relax and lap up the lifestyle," the social media posting said.

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Pace was also seeing 13 sales a month at its Sunshine North townhouse development, up from eight before the pandemic. During the long Melbourne lockdown, Pace was seeing its 360-degree video tours of its Sunshine North townhouses being viewed more than 100 times a week.&nbsp;

"At Sunshine we are building townhouses as quickly as we sell them," Pace founder Shane Wilkinson told The Australian Financial Review this week.

"Demand at the $600,000 to $800,000 price point is very strong. This is partly due to low rates, but also because the established market has become unaffordable." he said.

Pace, which Wilkinson founded in 1992, &nbsp;was now looking to acquire $100 million of new apartment sites.

Its latest acquisition was $11.25 million for a 2653 square metre parcel at 251 Lygon Street, in Brunswick East, where it hopes to develop about 80 apartments.

It creates a 500-unit pipeline across Coburg, Fitzroy and Brunswick East.&nbsp;

Its projects also include the Flemington site bought from the Victoria Racing Club at 550 Epsom Road, near Racecourse Road, in 2018.

Wilkinson said the developer had adopted an aggressive acquisition strategy after settling $120 million of sales in the past 12 months including its Pace of Ascot Vale apartment project along with several stages at its Sunshine townhouse project.

"Not all first home buyers are purchasing house and land [in the outer suburbs]. Many are buying [apartments] off-the-plan," Mr Bramich added.

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Melbourne developer Pace has been averaging 19 sales a month at its 263-unit Pace of Blackburn project

As established property prices soar, Pace see uptick in Melbourne townhouse and off the plan apartment sales 

Buyers wanting to understand what luxury living is like need not look further than the new Melbourne Quarter development.

Situated on Flinders Street, residents at Melbourne Quarter are surrounded by the city&rsquo;s contagious buzz.

Delivered by Lendlease, this new precinct will offer world-class design in an unrivalled location next to Melbourne&rsquo;s main transport hub, Southern Cross Station.

Renowned architects, Fender Katsalidis, Denton Corker Marshall and Woods Bagot, have joined forces with urban design specialists Aspect Oculus, to help create this landmark development and its one, two and three-bedroom apartments.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Urban takes a look at what it&rsquo;s like coming home to this luxurious off-the-plan property.

1. Enter the grand lobby

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&ldquo;Drive through the Flinders Street entrance, past the charming heritage wall, and the elegant porte-coch&egrave;re will lead you to a grand lobby&rdquo;, the project marketing reads.

With a soaring nine-metre canopy, the lobby will welcome residents to their new luxury lifestyle.

2. Burn off steam at the Club MQ

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Residents will enjoy exclusive access to Club MQ, three levels of exclusive resident resort-style amenities,

After returning from work, homebuyers at Melbourne Quarter can stay in shape thanks to gym access, including a private yoga space, a spa and sauna, plus a 25-metre indoor swimming pool.

3. Enjoy dinner in a flexible outdoor dining space

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Flexible private dining spaces cater for all occasions, from a cosy, intimate affair to a lavish banquet.

Indoor dining areas lead to private outdoor terraces, with BBQ facilities and casual open-air seating designed for alfresco entertaining.

4. Relax in the Sky Park

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After dinner, residents can kick off their shoes and feel the grass under your feet at their new neighbourhood sky park.

This great amenity boasts lush lawns, views of Melbourne&rsquo;s skyline, private outdoor dining and barbeque facilities to entertain friends.

5. Watch a movie in the private cinema

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Melbourne Quarter includes a private lounge-style theatrette for residents to unwind in comfort and style.

To create a relaxing space, the cinema fuses dark timber wall panelling with flexible seating arrangements.

6. Relax in your elegant home

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Each apartment in Melbourne Quarter boasts contemporary elegance with European appliances and refined finishes.

The practical design creates a calm, inviting space with amazing views and abundant natural light.

&ldquo;Come home and savour a well-deserved cocktail on the sleek, stone-paved balcony while you drink in the views&rdquo;, the project marketing reads.

The development features contemporary fittings, European appliances and timber flooring.

“Drive through the Flinders Street entrance, past the charming heritage wall, and the elegant porte-cochère will lead you to a grand lobby”, the project marketing reads.

Enjoy a relaxed lifestyle at Melbourne Quarter: What it’s like coming home to this new Lendlease development

Orchard Piper has secured a 1000 square metre Toorak Road, Toorak development site.

Its plans to build a complex with apartments, offices and retail.

The amalgamated site sits at the corner of 424-426 Toorak Road and 109 Mathoura Road.

Orchard Piper, founded by Rick Gronow and Luke McKie, reportedly spent two years negotiating with the Butler and Mendleson families to amalgamate the six properties.

One has been run as a cosmetic surgery clinic.

Orchard Piper has commissioned Jolson Architecture &amp; Interiors to design a seven-storey building with the apartments fronting Mathoura Road.

&quot;This site, being the most prominent, north-facing corner of [Toorak] village, presents an opportunity for us to invest in the area in a really tangible, long-term way,&quot; Mr McKie told The Australian Financial Review.

Plans have yet to be lodged with Stonnington Council with construction expected to begin in late 2022.

Orchard Piper secured the suburb&#39;s first double-digit sale in 2018 when the penthouse at 29 Washington Street sold for $14 million. The 1000sq m third-floor space boasted a pool, yoga room, sauna and 1300-bottle wine cellar, plus a lift from its four-car garage.&nbsp;

The 29 Washington Street penthouse sale almost doubled the previous record of $8.26 million at The Springfield, 19 apartments on the corner of Springfield Avenue and Orrong Road designed by K2LD Architects&rsquo; Tisha Lee for Chapter Group.&nbsp;

Before that, in 2015, there was a $6.15 million sale on the third floor of the Douglas Street Art Deco-inspired Le Nouveau.

Mathoura Road has seen pricey apartment projects in recent years including Palais Toorak, conceived by Craig Easton of Easton Projects, with collaboration from architect Rob Mills, the SJB Interiors director Andrew Parr and garden designer Paul Bangay.

It is a four storey block of seven residences at 86 Mathoura Road.

Local pharmacist C. Wallis &amp; Son, which has occupied the corner store at 426 Toorak Road since 1981 opposite the Tok H Centre, has signed a pre-lease agreement t stay on at the location after construction.

Orchard Piper have commissioned Jolson Architecture & Interiors to work on the design

jchancellor

Orchard Piper propose luxury Toorak Road, Toorak corner apartment project

The Melbourne apartment market continued to grow over July, with the median apartment value rising&nbsp;0.4 per cent, according to the property data firm CoreLogic.

That takes the growth in Melbourne&#39;s apartment market to 6.1 per cent over 2021, following 0.8 per cent gains over June and 0.7 per cent in May.

Melbourne&#39;s median apartment value is now $612,000, having started the year at $577,000.

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The gains in the apartment market come as the booming housing market lost a little bit of steam over July.

CoreLogic&#39;s research director, Tim Lawless, suggests one of the reasons house prices are starting to lose a bit of steam is that they are becoming unaffordable for many.

&quot;With dwelling values rising more in a month than incomes are rising in a year, housing is moving out of reach for many members of the community,&quot; Lawless says.

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&quot;Along with declining home affordability, much of the earlier COVID related fiscal support (particularly fiscal support related to housing) has expired.&quot;

There&#39;s good news for landlords in Melbourne, Lawless added.

&quot;Rental markets in these areas [Sydney and Melbourne] are stabilising following a substantial reduction in rents due to high vacancy rates attributable to stalled overseas migration and a preference shift away from high density living during the pandemic.&quot;

The number of advertised properties for sale has fallen sharply across Sydney and Melbourne amid lockdowns.

New listings in Melbourne dropped 27 per cent between the week ending July 11th and July 25th.

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Melbourne&#39;s median apartment value is now $612,000, having started the year at $577,000.

&ldquo;We have seen the same trend through earlier lockdowns, where both buyer activity and vendor activity reduce before recovering to pre-lockdown levels once restrictions are eased or lifted.

&ldquo;With stock levels remaining tight, selling conditions have been skewed towards vendors.

&quot;Auction clearance rates have remained in the low-to-mid 70% range across the major auction markets through July and private treaty sales continue to record rapid selling times and low discounting rates,&rdquo; Lawless said

Melbourne's median apartment value is now $612,000, having started the year at $577,000

What happened to Melbourne apartment values over July?

Peter Bartholomew has listed his 10th floor Melbourne CBD apartment in the 51 Spring St tower.

It is a whole floor in the complex designed by the architect Nonda Katsalidis in a late 1990s office conversion.

Expressions of interest for the apartment close August 9.

Colliers has the listing in conjunction with Marshall White who advised buyers the apartment in the heart of Melbourne&#39;s Paris-End had never been publicly available for sale.

<a href="/developments/melbourne-vic?source_news_article_id=107247&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_12.jpg" width="1200" /></a>

It comes with a yoga room, wine cellar and a library.

There are west, south, east and north-facing terraces with views including Parliament House, the Royal Exhibition Building, the Old Treasury and Fitzroy and Treasury gardens.

The listing notes &ldquo;51 Spring St is one of Melbourne&rsquo;s most tightly held and desirable addresses.&quot;

It is a 22-apartment complex.

The last known whole floor offering fetched $5.5 million in 2016, with 400sqm space, which sold through Kay &amp; Burton agent Monique Depierre, which first sold at $1.1 million in 1998.

Bartholomew has been behind several local restaurants through the years including MoVida, Lee Ho Fook and Rosa&rsquo;s Canteen.

 
&nbsp;

Colliers has the Spring St listing in conjunction with Marshall White


Melbourne restaurateur Peter Bartholomew lists CBD apartment with $7.5m plus hopes

The Melbourne property developer Blue Earth Group has developed a name for itself within the industry for their string of high quality, amenity-laden apartment developments.

Their latest work at their Ivanhoe Gardens apartments in Melbourne&#39;s north-east&nbsp;has seen a big&nbsp;focus on&nbsp;the booming work from home sector, which is expected to continue well past the vaccination rollout.

Part of the development, designed by CHT Architects and built by the leading construction firm Hamilton Marino, is a state-of-the-art, double storey co-working centre.

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Upstairs is an open lounge area and private office booths, available to book through the apartment complex mobile app.

There&#39;s also an onsite restaurant with a coffee arbour, giving working home from residents no need to leave the Linden Avenue development.

Young professionals who are&nbsp;likely to only spend a few days in the office for the foreseeable future have been keen on the option of working in the co-working centre, albeit the Melbourne CBD just a short 30 minute drive in.

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Ivanhoe Gardens is made up of two buildings, Bloomfield, which is stage one of the development, and Linden &amp; Arbour, which is stage two.

True to Blue Earth&#39;s track record, Ivanhoe Gardens features a number of further facilities within the two stages. There&#39;s everything from golf simulator&#39;s, poker rooms, gym&#39;s designed and kitted out by Technogym and gardens designed by Jack Merlo.

Read more:&nbsp;<a href="/news/vic/work-live-and-play-at-blue-earth-groups-ivanhoe-gardens-apartments">Entertainment options on offer at Blue Earth&#39;s Ivanhoe Gardens</a>

One-bedroom apartments, which have their kitchen&#39;s designed by renowned chef Adam D&#39;Sylva (co-owner and chef award-winning restaurants Tonka and Coda), start from $462,500.

Blue Earth&#39;s Anthem development in Essendon, with a similar suite of facilities, has nearly sold out.

Read more:&nbsp;<a href="/news/vic/why-would-you-leave-anthem-at-essendon-residents-treated-to-high-performance-living">Why would you leave? Anthem at Essendon residents treated to High Performance Living</a>

There are just a few apartments remaining&nbsp;in the O&#39;Shannassy Street project. With all the one-bedroom apartments sold out, prices start from $572,500 for the two-bedroom, 72 sqm apartments.

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Part of the development is a state-of-the-art, double storey co-working centre



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