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

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<div>EXPERT OBSERVER</div>
<div> </div>
<div>An intriguing set of building activity figures as ever for the March 2018 quarter. </div>
<div> </div>
<div>The most interesting point of note was how thousands of building approvals in the Victorian pipeline were kicked off as dwelling starts in the first three months of the calendar year (recall how Melbourne saw nearly 10,000 townhouses and apartments approved in only a two-month period in October and November last year).</div>
<div> </div>
<div>In New South Wales, on the other hand, there are more houses and apartments approved but not yet commenced than ever before, as developers grapple with tighter financing and languishing apartment pre-sales. </div>
 
<div class="separator"><img src="https://1.bp.blogspot.com/-IBA7-WMHTY8/W0V1rvQfoZI/AAAAAAAArAE/uj3Kf3OMkg82lMDyY8usAtL_kner9f9igCEwYBhgL/s640/BA3.jpg" width="640" height="360" data-original-height="783" data-original-width="1389"></div>
 
<div>Following on from the above, there was a near-explosion in the number of quarterly dwelling commencements in Victoria, to a seasonally adjusted 22,150, well over double the equivalent figure from a decade earlier. Melbourne's population growth has been tracking at record highs, and demand for housing is high.</div>
<div> </div>
<div>This alone was significant enough to send the national trend for dwelling commencements northwards. </div>
 
<div class="separator"><img src="https://4.bp.blogspot.com/-JmNI8sM0-qc/W0V1s90dimI/AAAAAAAArAI/9cEGyLHhx3ApESqUvmIQ9VNP2Ny2qaXaACEwYBhgL/s640/BA5.jpg" width="640" height="392" data-original-height="804" data-original-width="1310"></div>
 
<div>In Queensland more houses are being commenced in response to strong demand from interstate migrants, but the number of attached dwelling starts continues to moderate as the Brisbane apartment market rebalances. </div>
 
<div class="separator"><img src="https://1.bp.blogspot.com/-BIMygTTR1rg/W0V1sDgFn7I/AAAAAAAArAI/kBXZooy2BQQxTdc9h7P2ikm31-d-5uF1ACEwYBhgL/s640/BA4.jpg" width="640" height="374" data-original-height="790" data-original-width="1350"></div>
 
<div>Pipeline is enormous</div>
<div> </div>
<div>The number of residential dwellings units under construction also increased as a result of the Melbourne building boom to more than 224,000, a record high.</div>
 
<div class="separator"><img src="https://3.bp.blogspot.com/-93XBQZlcR8Q/W0V1rWumBwI/AAAAAAAAq_k/WE_s0iLsrJM_prad2slt7pILMs7kag7NACLcBGAs/s640/BA1.jpg" width="640" height="376" data-original-height="785" data-original-width="1336"></div>
 
<div>You can also see the leap in Victorian attached dwellings under construction to a record level, while Sydney completions are now finally raining in, which should result in a spike in vacancy rates in the harbour city as the year rolls on. </div>
 
<div class="separator"><img src="https://4.bp.blogspot.com/-iLo-uVMONQA/W0V1rqS_n-I/AAAAAAAAq_o/UBeacRrqL74NiZEC1WXR7wIxlJL6UMiAwCLcBGAs/s640/BA2.jpg" width="640" height="378" data-original-height="801" data-original-width="1351"></div>
 
<div>Both the value of building work to be done ($71.4 billion) and total building work in the pipeline ($95.8 billion) are at all-time highs in current prices terms. </div>
<div> </div>
<div>The big question mark is how many of the buyers of off-the-plan apartments will be unable to settle, especially if more valuations at settlement start to come in at under the contract price. </div>
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pwargent-M4siyDbqQY

Melbourne's population growth at record highs makes for strong demand for housing: Pete Wargent

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<div>Interesting figures from SQM Research showed rental vacancies in Melbourne rising to 27,070 in October 2020, due to the lockdown.</div>
<div> </div>
<div>That's a vacancy rate of 4.4 per cent, and well up from only 11,882 rental vacancies a year earlier.</div>
<div> </div>
<div>SQM Research reported that the vacancy rate was most acute in Melbourne's CBD, at 10.6 per cent.</div>
<div> </div>
<div>The 6mMA figures showed that rental vacancies in Sydney have begun to level off.</div>
<div> </div>
<div class="x__Entity x__EType_OWALinkPreview x__EId_OWALinkPreview x__EReadonly_0"><img src="https://1.bp.blogspot.com/-HkllQbH-vBk/X7OJT4rBTZI/AAAAAAAA5XY/m7gdK7ltSz4w5rlcQfWM7Izx4QwyDhUfQCNcBGAsYHQ/s1464/SQM1.jpg" data-imagetype="External"></div>
 
<div> </div>
<div>Rental vacancies in Brisbane continued to ease lower, down to 6,912 from 7,950 a year earlier.</div>
<div> </div>
<div>More than 400,000 Australians have returned home this year, which might go some of the way to explaining low rental vacancy rates in Perth, Canberra, Hobart, Adelaide, and Darwin, all of which now have tight vacancy rates of under 1 per cent.</div>
<div> </div>
<div> </div>
<div class="x__Entity x__EType_OWALinkPreview x__EId_OWALinkPreview_1 x__EReadonly_0"><img src="https://1.bp.blogspot.com/-lxv8bsS_t5I/X7OKx-nT9GI/AAAAAAAA5Xk/p54r32aOISct4ihncXbRCTHOKA6JEZw4QCNcBGAsYHQ/s1174/cc.jpg" data-imagetype="External"></div>
 
<div> </div>
<div>Consumer confidence lifted again to a 9-month high.</div>
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Melbourne rental vacancies rise to 27,000 as lockdown lifts: Pete Wargent

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Stockland, one of Australia’s largest diversified property groups, has opened its latest display village at Cloverton to the public.

Currently viewed by appointment only, the display home village features 21 inspiring homes from 11 of well-known Melbourne home builders. Stockland are hoping to add to the existing 2,000 residents already living in the Kalkallo community with a plethora of first home buyers looking to take advantage of the HomeBuilder Grant that was recently extended to March 31 2021.

“Cloverton is set to be the future city of Melbourne’s north. The community is already flourishing with three parks, a popular café, an early learning centre and a primary school set to open in 2022. There’s plenty on offer now and into the future for our community,” Stockland Project Director, James Westh said.

The 21 homes in the display village have been built by 11 different builders including: Porter Davis, Metricon, Carlisle Homes, Simonds, Eight Homes, Bentley Homes, Mimosa Homes, Home Group, Homebuyers Centre, Boutique and ABC Homes.

<h2>Other Stockland Developments</h2>

Waterlea, Rowville

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/waterlea.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="324" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/waterlea.png?itok=Av8aT59w" width="580"></a></figure>Another community project by Stockland is Waterlea, a sustainable 6 Star Green Star urban community. Set in 40 plus hectares of natural habitat and green open spaces, the neighbourhood sits at the foot of the Dandenong Ranges in Melbourne’s southeast suburb of Rowville. 

It has been designed by the Group GSA Architects.

Haven, Altona North

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/haven.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="289" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/haven.png?itok=8JYHOjlq" width="580"></a></figure>Other Stockland projects include Haven in Altona North, comprised of two, three and four bedroom townhouses designed by SJB architects. It has prices ranging from $605,000 - $805,000 available for purchase off the plan.

Another, is the Terraces at Minta in Berwick (pictured below), 46 residences set for completion in 2021 with a lower price point of $450,000 - $550,000 making both these projects eligible for the extended HomeBuilder Grant.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/minta_terraces.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="344" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/minta_terraces.png?itok=1ZtqlPhe" width="580"></a></figure>
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The display home village features 21 inspiring homes from 11 of well-known Melbourne home builders.

urban.com.au

Stockland's new Kalkallo community display village opens in Cloverton

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Riverlee’s $500 million mixed-use Seafarers project have released their waterfront residences with prices beginning from $1.9 million.

Works commenced on the riverfront precinct in early October, endorsed by the Victorian Government, with the development set to become Melbourne’s first international hotel-branded residence.

Situated next to the Mission to Seafarers on the northern bank of the Yarra River, the project is a welcome boost to Melbourne’s local economy as it looks to rebound from COVID-19.

The riverfront precinct will be Australia’s first 1 Hotel, offered by luxury-lifestyle brand 1 Hotel &amp; Homes.

Designed by Fender Katsalidis, it will include 123 luxury residences, 277 guest rooms, a lobby lounge bar and world class event venue.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/seafarers_kitchen_-_light_scheme_-_artist_impression.jpg" rel="gallery-all" title="Seafarers. Courtesy of BINYAN studios."><img alt="" class="image-article-full-width-580px" height="348" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/seafarers_kitchen_-_light_scheme_-_artist_impression.jpg?itok=Ma5igXoj" title="Seafarers. Courtesy of BINYAN studios." width="580"></a>

<figcaption>Seafarers. Image supplied by BINYAN studios.</figcaption></figure>Residents are offered the experience of five-star hotel services and amenities, year-round, as well as food and beverage offerings and a 3,500sqm park and a state-of-the-art health centre situated within the new precinct.

At Seafarers, residents will be able to take advantage of 1 Hotel’s services, including private catering, in-room dining, indoor heated pool, 24-hour concierge and valet parking.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/seafarers_porte_cochere_-_artist_impression.jpg" rel="gallery-all" title="Seafarers. Courtesy of BINYAN studios."><img alt="" class="image-article-full-width-580px" height="372" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/seafarers_porte_cochere_-_artist_impression.jpg?itok=wm7iEmol" title="Seafarers. Courtesy of BINYAN studios." width="580"></a>

<figcaption>Seafarers. Image supplied by BINYAN studios.</figcaption></figure>Park-front and city residences are priced from $1.225 million.

Other amenities include a rooftop garden, library, residents’ lounge and dining rooms, all operated and maintained by 1 Hotel.

Seafarers Residences centres on the reimagining of the heritage-protected Goods Shed 5, where heritage restoration works have commenced. Key elements of Goods Shed 5, such as the roof trusses, doors and windows will be taken offsite for remediation and returned during the construction phase.

Melbourne’s last remaining original electric crane will also be restored and relocated to the east end of the development site.

The project is slated for completion in 2023.
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max.kwok_55688

Waterfront Yarra River residences listed from $1.9 million at Seafarers

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Melbourne’s inner west has been earmarked as a top buying target by property experts for the last few years.

Footscray, one of Melbourne’s inner-western suburbs with countless ongoing development projects, is a similar distance from the CBD as South Yarra but without the soaring property prices.

Realestate.com.au chief economist Nerida Conisbee said that the inner-west region is still quite cheap and is "starting to improve”.

According to CoreLogic, West Footscray was amongst Melbourne's best performing suburbs post-GFC, with values rising over 30 per cent between 2008 and 2011. 

Here are two apartments in Footscray:

1. Live City

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="373" src="https://www.youtube.com/embed/xpaJ47H4tRg" width="540"></iframe>

The residential and mixed-use development, Live City, will only push Footscray’s value upward.

Delivered by R&amp;F Property, the $750 million, eight-building project is situated at 124-128 Ballarat Road and is set to offer as many as 1,450 apartments over the next six to eight years. Stage one of the development topped out in August, comprising 208 residences spread across 14 floors.

Designed by Elenberg Fraser, apartments are available in one, two and three-bedroom configurations, with features including a private balcony, views of the Melbourne CBD and expansive glass doors. Other offerings include reconstituted stone benchstops, concealed storage, timber flooring and premium appliances.

One bedroom apartments within the project begin at $350,000, with two-bedrooms priced from $460,000.

You can watch Urban’s tour of Live City’s display suite below:

2. Liberty One

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/liberty-one-1-warde-street-footscray-80d23a56ab6a84323838187b6698c977.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="314" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/liberty-one-1-warde-street-footscray-80d23a56ab6a84323838187b6698c977.jpg?itok=Uv8ifB1F" width="580"></a> <a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/liberty-one-render-footscray-ea02-rooftop-outdoor-dining-and-bbq.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="318" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/liberty-one-render-footscray-ea02-rooftop-outdoor-dining-and-bbq.jpg?itok=Z2dieoCF" width="580"></a>

Another property to watch in Footscray is Bensons Property Group’s Liberty One development on 1 Warde Street. The development offers 350 one and two-bedroom residences.

Designed by CHT Architects, Liberty One’s features include premium oak floors, stone benchtops, high-end kitchen appliances and private balconies.

Located within the Joseph Road Precinct, the project offers residents close access to alfresco dining and retail spaces, as well as amenities such as an outdoor cinema, gym and residents’ lounge.

Newly built or off the plan properties up to $1 million in purchase price receive 50 per cent discount on their payable stamp duty thanks to Victorian Government initiatives. The November 24 budget revealed substantial discounts for buyers purchasing properties prior to June 30.

One-bedroom apartments in the project begin at $396,000, with two-bedroom properties from $630,000.  
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Footscray, an affordable inner-west suburb of Melbourne, is a similar distance from the CBD as South Yarra and sits within an area earmarked by property experts as long-term price gain potential 

New developments to secure in Melbourne's Footscray

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661 Chapel St is Melbourne's new residential development, setting a benchmark for luxury living in the Victorian capital.

Delivered by Gamuda Land, the 30-storey tower provides 127 apartments in one, two, three and four-bedroom configurations. Situated beside the Yarra River, 661 Chapel St is located within minutes of the Melbourne CBD, parklands, elite shopping and dining precincts. It is located next to Melbourne High.

Completed this year, the project is slashing stamp duty costs by up to 50 per cent as well as generous government grants and incentives for new home buyers and first home buyers.

661 Chapel St gives buyers the rare opportunity to combine two apartments to create a single, large residence with some buyers choosing to snap up entire floors and create “super residences” in the sky.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/661-chapel-st-hero_3.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="290" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/661-chapel-st-hero_3.jpg?itok=P9kaU23b" width="580"></a>

Among its extensive hotel-inspired resident amenity, the South Yarra project includes a concierge, gym, members lounge and winter garden. Located on its ground floor, residents will also have access to an onyx-windowed, grand library and boardroom. A 25-metre heated pool, cantilevered six levels above Chapel Street and supported by a single beam, rivals the neighbouring hotel pool at The Olsen.

Captivating the interest of art aficionados, the project's marketing indicated that Damien Hirst, the creator behind the $100 million For the Love of God skull, had been engaged in constructing a sculptural walk upon entry, inspired by international galleries. 

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sculpture.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="385" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/sculpture.jpg?itok=JcPQ9XB4" width="580"></a>

Marketing advised that the artwork would be displayed alongside a spectacular lighting installation by Omer Arbel.

Designed by bird de la Coeur, apartments in the project offer open interiors, large balconies and floor-to-ceiling windows with views of the Melbourne CBD, Yarra River and the Bay.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/_dms0222_photoshop_low_res_large.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/_dms0222_photoshop_low_res_large.jpg?itok=v96E39ye" width="580"></a>

One-bedroom homes in the project begin from $546,000 while four-bedroom apartments are valued at over $5 million. Each residence includes a suite of designer fixtures and stone and timber finishes.
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661 Chapel St is Melbourne's new residential development, setting a benchmark for luxury living in the Victorian capital

A look at South Yarra's 661 Chapel St

<html><body>Through to November, there have been signs of an economic and property market uplift in Victoria, according to the latest data from CoreLogic.

This follows a decline in Melbourne dwelling values, which are sitting 5.0% below the record high value reached in March 2020.

New listings across Melbourne rose from 2,756 in the month of September, to over 8,000 in November. Meanwhile, sales activity rose from 1,546 to an estimated 4,301. This means the increase in sales activity has not matched the big increase in stock on the market, which may have a dampening effect on the recovery of the Melbourne market.

The Melbourne rental market has been particularly impacted by the pandemic. This may also end up impacting property values, and CoreLogic data suggests larger dwelling value declines are correlated with declines in rent values.
"Nationally, housing market values did not see the large decline anticipated at the start of the COVID-19 pandemic. Housing values fell just 1.9% between March and September before moving into a recovery trend, increasing 0.4% nationally through October and 0.8% in November," Eliza Owen, CoreLogic’s Head of Research Australia said.

"Relative to previous housing market downturns, the current decline through to November seems relatively mild, with dwelling values just 0.7% below the pre-COVID levels. There are numerous factors which have contributed to the prevention of a larger downturn in dwelling values including the institutional, coordinated response to the pandemic, which have seen low borrowing costs, added incentives for first home buyers and the extension of mortgage repayment deferrals limiting forced sales."

"Despite an initial slump in housing finance through the beginning of the year due to the COVID-19 pandemic, the year to October saw a remarkable 14.5% lift in the volume of finance secured for the purchase of property, according to ABS lending indicators."

"The post-COVID mortgage lending boost was driven by owner-occupiers including changeover buyers such as upsizers and downsizers, as well as buyers getting into the property market for the first time."

"Money lent to first home buyers saw the fastest growth rate at 35.1% in the year to October, accounting for 22.1% of lending, up from 18.8% in the year prior. Meanwhile, investor mortgage lending increased less than 1% in the same period. There are several factors that contributed to this growth in first home buyer activity, including generational trends, monetary and fiscal incentives and lower dwelling values and competition," she concluded.</body></html>

Through to November, there have been signs of an economic and property market uplift in Victoria, according to the latest data from CoreLogic.

Despite a recovery, Melbourne property values remain 5% below peak

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Unit rents in Sydney and Melbourne continue to fall reflecting continued high vacancy rates notably in inner city and CBD markets that are under pressure from sharply reduced demand and surging supply particularly from previous holiday accommodation now converting to the permanent market. Conversely house rents are on the rise Indicating perhaps Increased demand for larger, outer suburban homes.

Sydney average asking rents for units fell by 2.3% over November but rents for houses Increased sharply by 2.5%. Perth rents continue to rise for both houses and units. Capital city rental markets continue to report diverging results with significantly lower and falling vacancy rates for houses offset by higher rates for units. This reflects sharply falling demand and increased supply of units - particularly in inner-city Sydney and CBD Melbourne.

HOUSE AND UNIT RENTAL VACANCY RATES 

Reflecting rent declines In the unit market, vacancy rates continue to Increase In Melbourne and Sydney - remaining at record levels. Vacancy rates for houses are significantly lower in all capitals by comparison with units and likely to continue to place upward pressure on rents.

HOME LOANS 

ABS home lending data reported another Increase over October with owner-occupier loans continuing at unprecedented levels. Total residential lending increased by 1.1% over October and has risen by 16.8% over the first 10 months of this year compared to the same period In 2019. All buyer types reported increases over October however, remarkably, lending for first home buyers now exceeds that reported for Investors. All states, with the exception of Victoria reported Increases In the total value of housing loans approved over October. Similarly, only Victoria failed to record an Increases In first home buyer lending over October, falling by 5.9%.

Although lending for first home buyers has surged this year driven by numerous state and federal government Incentive policies, levels remain well below those recorded during the post GFC revival period In 2009-10. Lending for new home building continues to be a significant contributor to the recent surge In home lending reflecting In particular the Impact of the recently extended federal government HomeBuilder policy.  Victoria continues to clearly record the highest number of loans for home building followed by QLD and WA.

HOME BUILDING 

The surge In lending for home building Is also been reflected In rising house building activity over recent months. Latest ABS building approvals for October were however lower in Sydney and Melbourne over the month but significantly higher In Brisbane and sharply higher In Perth.  Despite recent rises In home building approvals, underling levels, particularly for units, remain well below previous peak levels.
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Unit rents in Sydney and Melbourne continue to fall reflecting continued high vacancy rates notably in inner city and CBD markets, according to Archistar's Chief Economist Andrew Wilson.

Unit rents continue to fall across Melbourne and Sydney

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There are $5.5 million to $6 million hopes for the historic Melrose, the 1875 Victorian era home Harkaway.

Melrose was built for the late Australian health economist John Deeble on land subdivided from the original Berwick Run squatted by Robert Gardiner.

In 1938 it became the Try Boys' Home, a training farm for disadvantaged youth.

It was resorted during the 1960s ownership by Noel and Marlene Gould, with the help of architects Whitman and Peck.

<img alt="" height="1268" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melrose_4.jpg" width="2000">

The house has far-reaching views towards Port Phillip and Western Port Bay, and at night the lights of Melbourne twinkle in the distance.

The home remains on eight hectares of grounds featuring a pool, a tennis court, a self-contained apartment, horse stables and 10 divided paddocks.

<img alt="" height="1393" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melrose_2.jpg" width="2000">

There is also an orchard with more than 150 fruit trees, plus a chicken roost and an original well.

The property has been listed through Barry Plant Berwick agent Paul Dabb.

It was last sold 12 years ago at $2.475 million.

<img alt="" height="1351" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melrose_3.jpg" width="2000">

At its 1990 auction historic Melrose, then on 22 hectares, attracted a bid for $2,450,000, $400,000 short of its reserve price.

Parkway is a suburb some 39 km south-east of Melbourne's central business district. 
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Melrose was built for the late Australian health economist John Deeble on land subdivided from the original Berwick Run squatted by Robert Gardiner

jchancellor

Historic Melrose at Harkaway listed with $6 million hopes

Construction has commenced on Chiodo’s $17.5 million townhouse development project in Melbourne’s Ashburton.

Ei8ht,&nbsp;situated at 348 Warrigal Road, is a three-storey project that will offer eight residences with a mix of two and three-bedroom configurations.

Each of the residences will include their own personal lift. There will also be the choice of a wine cellar or theatre room in the basement.

Designed by Studio Mint, the homes will include entertainment spaces, stone benchtops private storage space.

“Ei8ht townhomes are inspired by the traditional character of Ashburton. We wanted to pay tribute to the suburb’s diversity, incorporating the big city feel with small-town charm,” the Chiodo founder, Paul Chiodo, said.

The development’s construction is set to create 50 jobs in Melbourne’s south-east.

[smartcode_project:default project_id=34608]

<h2>Other new residences&nbsp;in Melbourne&nbsp;</h2>

1. Hurstmon, Malvern East

One-bedroom apartments from $449,000 
Address: 3 Hurstmon Street, Malvern East VIC 3145

[smartcode_project:default project_id=4807]

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image_43.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" data-entity-type="" data-entity-uuid="" height="280" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/image_43.jpg?itok=jdCPehq3" width="580" /></a>

Moments from Ashburton, Malvern East offers premium residences surrounded by rich layers of character. Located nearby established parks, bicycle paths and historic gardens, Landream's Hurstmon is no exception.&nbsp;

Designed by Telha Clarke, each residence offers contemporary style, walnut timber joinery and premium materials,&nbsp;with thoughtful, premium features found in every room. Ground-floor residences in the project feature landscaped courtyards and expansive entertaining areas.&nbsp;&nbsp;

2. 1060 Carnegie

One-bedroom apartments from $459,000 
Address: 1060 Dandenong Road, Carnegie VIC 3163

[smartcode_project:default project_id=2882]

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1060-carnegie-1060-dandenong-road-carnegie-01c6be043216a86f1e8e119467435cf0.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" data-entity-type="" data-entity-uuid="" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/1060-carnegie-1060-dandenong-road-carnegie-01c6be043216a86f1e8e119467435cf0.jpg?itok=xtZvKebe" width="580" /></a>

Carnegie sits&nbsp;in the south-east of Melbourne with a strong community heart on Koornang Road comprising of diverse restaurants and community facilities. It's within five minutes of Chadstone Shopping Centre.

1060 Carnegie is a mid-rise development, delivered by Fortune Property Group and MRCB Land. The 96 one, two and three-bedroom residences will sit atop a podium that hosts retail shops and cafes.&nbsp;Designed by Peddle Thorp Architects, the apartments will offer a rooftop garden, landscaped lawns and outdoor balconies.&nbsp;

3. Collins &amp; Bates, Chadstone&nbsp;

One-bedroom apartments from $420,000 
Address: 72-76&nbsp;Batesford Road,&nbsp;Chadstone VIC&nbsp;3148

[smartcode_project:default project_id=93913]

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/collins-bates-72-76-batesford-road-chadstone-19a412e2837855a817fd74ce5401d626.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" data-entity-type="" data-entity-uuid="" height="232" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/collins-bates-72-76-batesford-road-chadstone-19a412e2837855a817fd74ce5401d626.jpg?itok=OpDKvDMZ" width="580" /></a>

Located close to the Southern Hemisphere’s largest retail and lifestyle hub, Collins &amp;&nbsp;Bates&nbsp;brings you city convenience alongside&nbsp;crafted&nbsp;courtyards for natural surrounds. Designed by&nbsp;Point Architects&nbsp;and C&amp;C Interiors, Collin &amp;&nbsp;Bates&nbsp;offers residence private outdoor balconies, oak timber flooring and timeless interiors.

Estimated for completion this month, the project offers one-bedroom, one-bathroom residences, with a private car space from $420,000.

Construction has commenced on Chiodo’s $17.5 million townhouse development project in Melbourne’s Ashburton

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