Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

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]

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

Melbourne

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International Workplace Group’s (IWG) co-working brand Spaces has secured approximately 7,000 square metres of space across two buildings within Lendlease’s Melbourne Quarter precinct.
Spaces will occupy one floor at One Melbourne Quarter and more than 4,000 square metres over two floors at Two Melbourne Quarter.
They will also utilise the business lounge facilities in each building’s lobby as extensions of their workplace.
Spaces’ members will also have access to the precinct’s Wi-Fi enabled Sky Park.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/22/One%20Melbourne%20Quarter.jpg" alt="">
There will be over 700 flexible workstations available when Spaces moves into One Melbourne Quarter (pictured above) in May this year and Two Melbourne Quarter (pictured below) once it is complete in mid-2020.
The precinct will also be the Victorian home of AMP and EnergyAustralia, which will join Arup and Lendlease.
Spaces’ model allows customers to pay only for the space they need, scaling operations up or down to boost employee productivity in their choice of work environments.
The Lendlease managed Australian Prime Property Fund (APPF) Commercial owns One Melbourne Quarter and has a 50% joint interest in Two Melbourne Quarter with First State Super.
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"There is a workspace revolution underway in Australia and businesses of all sizes are waking up to the strategic and financial benefits that flexible office space can provide," said  Damien Sheehan, Head of IWG, Spaces parent company in Australia &amp; New Zealand.
"This will be the fourth Spaces co-working centre located in Victoria and we are extremely excited to be located in the new Melbourne Quarter Precinct."
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j.ballantyne1990-6AQqhLzZaK

Co-working operator Spaces joins Melbourne Quarter precinct 

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Excelon has announced the opening of 25 King Collective, a shared office space in Melbourne’s CBD.
Kelvin Taing, Director of Excelon says the Excelon team has moved into the top floor in the premises in Melbourne’s South West CBD area.
Mixed-use spaces start from $450 per month. Private studios from $1,200 per month.
Excelon engaged renowned architect Kennedy Nolan to renovate the three-level 25 King Street building, and Excelon Group moved its office to the top floor.
The shared office will house around 30 workers.
The shared amenities include a fully equipped shared boardroom for tenants’ use.
The site was originally the Melbourne Steamship Company and Excelon has kept original touch points throughout, such as the staircase, glass signage of the Melbourne Steamship Company and an original safe from the 1800s.
Excelon have paid further homage to the historical building by engaging Australian artist Benjamin Tankard to create nine paintings of the steamships that once belonged to the Melbourne Steamship Company.
These will adorn the walls within the shared boardroom, meeting room, and within each of the office suites that are also named after the ships.
Excelon Group has been active within the Melbourne property market since its inception in 2011.
The boutique, family-run property business is headed by brother and sister team Kelvin and Rachel Taing.
The 25 King Street project was recently completed and now is open, marking the first wave of real change in the revitalisation in the South West CBD area.
Melbourne’s South West CBD area has been undergoing significant improvement with several office, hospitality, hotel and residential developments in both planning and construction phases.
The Excelon team is proud that the 25 King Collective project has added to the pipeline of positive developments in the area.
The South West CBD area’s flurry of development projects is driven by developers who are committed to cleaning up the area.
Other projects in the area include Geddes Lane Ballroom (formerly the adult venue Bar 20); 555 Collins Street office space project; and the newly opened State of Grace restaurant and venue.
The area has also seen enormous growth in the hotel sector with projects such as St Regis Hotel, Mandarin Oriental Hotel, Ritz Carlton, Hyatt Centric, and BPM’s hotel project, which will be managed under Quincy hotel brand.
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Excelon has a fast growing portfolio of unique residential developments designed with specific lifestyles in mind.
Creativity and design integrity are what sets Excelon Group apart, and by working closely alongside some of Melbourne’s most reputed architects, Excelon has just completed Clyde Mews in Thornbury, and has recently launched Lothian Street in North Melbourne.
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Excelon's Melbourne CBD shared office space 25 King Collective opens

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No curves yet but the facade of the new Melbourne apartment development Premier Tower is beginning to emerge.
Its distinctly curved architectural design was advised as being inspired by US pop singer Beyonce.
It had secured 60% off the plan pre-sales in its 2015 stage one launch with a selection of one bedroom, one bedroom-plus-study and two bedroom configurations.
Around half went to offshore buyers seemingly galvanised by the new Victorian Government stamp duty on foreign buyers that began July 1.  
The Singaporean property magnate Koh Wee Meng and his family will keep a suite of apartments at the very top of the high-rise CBD tower that his Fragrance Group is developing.
<a href="http://www.premiertower.com.au" target="_blank">Premier Tower</a> is a mixed-use tower located at the corner of Spencer Street and Bourke Streets, opposite Southern Cross Station consisting of 780 residential apartments over 68 levels.
It replaces the Savoy Tavern on Spencer Street.
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There will also be a boutique hotel housed in the podium levels hosting 175 rooms. 
“We are excited to be launching our first Melbourne development project and are thrilled with the strong response from the market in these early stages,” Fragrance Group's Adrian Lim said in a press release issued by Colliers International.
The Elenberg Fraser-designed project is being marketed by Colliers International.
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Residential amenities will include grand ground level entry foyer, swimming pool, gym, residential lounges, concierge services, a garden lounge, outdoor fitness zone, sauna and steam room, games and golf area and fully equipped catering kitchens.
Premier apartment residents will also have access to the Premier Club and other exclusive amenities such as a library, private dining rooms and kitchen facilities, a theatre, billiard room and karaoke and media room.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/07/10/700_premier.jpg" alt="">
The company media release officially said: "For those more on the art than science side, we will reveal that the form does pay homage to something more aesthetic – we're going to trust you've seen the music video for Beyonce's Ghost." 
Since the headline grabbing press release unveiling its curvaceous computer-generated image in 2015, the developer made a significant admission.
Koh Wee Meng, the executive chairman of Singapore-listed Fragrance Group, is not a Beyonce fan.
In fact, Singapore’s 26th richest person, hadn’t even seen Ghost, the video clip with a stocking-clad, writhing superstar that inspired the bootylicious building design.
“No,” Dr Koh said starkly, when asked by Nine Entertainment if he was a fan of the US singer.
Reade Dixon, the lead architect on the project also said at its 2015 sod turning that the building did not set out to mimic the former Destiny’s Child lead singer.
“It’s not conceptually conceived out of the Beyonce position,” said Mr Dixon, a principal of architecture firm Elenberg Fraser.
“It uses the fluid curves in the corners of the building to disseminate the wind. That’s the key challenge to build height in such small sites. It’s just that there’s been lots of carry forward with that relationship to Beyonce.”
 
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Fragrance Group's Beyonce inspired tower emerges on Spencer Street 

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Melbourne suburban office sales surpassed $1 billion in value for the fifth consecutive year in 2018, according to Colliers International.
The group is forecasting another year of record investment in the Melbourne metropolitan market.
$1.08 billion worth of metropolitan office sales were recorded in 2018, for offices above $5 million with 44 transactions taking place.
This was an increase from $1.03 billion in 2017. 
Colliers International’s Peter Bremner, National Director of Metro Sales, said the most active market was the city fringe region, where just over $500 million of office buildings sold in 18 transactions.
This was followed by the Outer East region, where $300 million of office stock sold across 14 transactions.
“We predict another $1 billion-plus year in 2019 as buyers see value in the strong fundamentals of the Melbourne metro office market, as leasing conditions continue to turn in favour of lessors and rents continue to rise and incentives decrease across most regions," Bremner said.
“Whilst yields may not decline like they have in previous years, capital growth is still expected due to these favourable leasing conditions.
“Pre-commitment and speculative office construction will rise as residential development sites are converted back to commercial as the highest and best use.”
Melbourne’s metropolitan office market comprises 3.23 million square metre in NLA and has a current overall vacancy of 5.24%. 
Bremner said the hottest markets to watch in 2019 would continue to be those city fringe suburbs within the 3-5 kilometre ring around the CBD, including South Melbourne, Kensington, Fitzroy, East Melbourne, Abbotsford, Collingwood, Richmond and Cremorne.
The largest deal of 2018 in Victoria was the sale of 60 Brougham Street in Geelong for $115.25 million.
The office building was 100% occupied by TAC and purchased by Centuria for a passing yield of circa 6.90%. 
Followed by the sale of 21 Harcourt Parade, Cremorne, an office building that was pre-committed by MYOB and sold by Colliers International as a fund-through transaction to AXA for $100.1 million, reflecting a yield of 5.40%. 
The third priciest deal of 2018 was 452 Johnston Street in Abbotsford which transacted for $93.5 million at the start of 2018, with Abacus Property Group purchasing the Computershare headquarters on a yield of 5.85%. 
Private investors accounted for 51% of metropolitan office sales in 2018 (or 22 deals), following by owner-occupiers at 21% (nine deals).
This was followed by institutions at 12% of total transactions (five deals), offshore buyers at 9% (four deals), syndicates at 5% (two deals) and just one sale to a developer (2% of total transactions).
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Melbourne metro office investment cracks $1 billion for fifth year running

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Unit prices have been holding steadier than houses in Melbourne, just 5.8% below the peak they reached at the beginning of 2018, according to Domain's latest House Price Report.
The report found, Melbourne house and unit price falls sped up throughout 2018, although so far the downturn has been shorter and less severe when compared to Sydney.
Melbourne house prices fell 2.1% over the quarter and 8.4% over the year to $833,321.
Melbourne unit prices fell 1.8% over the quarter and 4.3% over the year to $479,306.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>
Domain Senior Research Analyst, Dr Nicola Powell said: "Restrictions to housing finance have hit Melbourne and Sydney the hardest. However, Melbourne is in better shape than Sydney, as a growing employment sector, lower affordability hurdles and stronger population growth supports the underlying demand for housing.
“Melbourne house prices have now fallen for four consecutive quarters, the last time this occurred was seven years ago. The ongoing falls have resulted in the steepest annual house price drop since Domain records began in 1993. However, it’s worth noting that the downturn follows an extraordinary period of growth, with house prices rising 72.8% in just over five years.
"Houses are 8.4% below the price peak achieved at the end of 2017, with homes now transacting at late-2016 prices.
“Underpinning the strength of units relative to houses is affordability hurdles and lending practices. Factors that have supported demand for housing at the lower end of the price spectrum include a rise in the number of first home buyers, and lending practices designed to reduce exposure to borrowers with a high debt to income ratio.”
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Melbourne unit prices holding steadier than houses: Domain

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Melbourne looks set for another bumper year in 2019 with a host of key projects around the city - of both the small and tall variety - changing not only the skyline's silhouette but more importantly its ground plane.

Today's piece focuses on a selection of projects which in some way will contribute to improving Melbourne's built environment and public realm. These projects represent a cross section of skyscrapers and key public realm projects.

<h2>435 Bourke Street</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/435_bourke_street.png" rel="gallery-all" title="435 Bourke Street. Image: Cbus Property"><img alt="" class="image-article-full-width-580px" height="483" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/435_bourke_street.png?itok=cCtrBuco" title="435 Bourke Street. Image: Cbus Property" width="580"></a>

<figcaption>435 Bourke Street. Image: Cbus Property</figcaption></figure>Cbus Property delivered an early Christmas package to the City of Melbourne when it submitted an application for a $1bn 55-storey commercial tower at 435 Bourke Street, in the heart of the Melbourne CBD.

Designed by Bates Smart, the development comprises approximately 64,500 sqm of premium grade office space on the corner of Bourke and Queen Street.

Cbus amalgamated sites at 140 and 150 Queen Street, 423 Bourke Street and 27 McKillop Street to allow for the development. 

According to Cbus, it intends to launch 435 Bourke Street in early 2019 and commence construction later this year pending planning approval.

Read more <a href="/news/cbus-property-submits-planning-application-for-its-landmark-435-bourke-street-site">here</a>.

<h2>Southbank by Beulah / The Green Spine</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/southbankbybeulah.jpg" rel="gallery-all" title="The Green Spine - the competition winning entry for Southbank by Beulah. Image: UN Studio"><img alt="" class="image-article-full-width-580px" height="568" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/southbankbybeulah.jpg?itok=xUv8mVto" title="The Green Spine - the competition winning entry for Southbank by Beulah. Image: UN Studio" width="580"></a>

<figcaption>The Green Spine - the competition winning entry for Southbank by Beulah. Image: UN Studio</figcaption></figure>Beulah International revealed the six entries in its Southbank by Beulah competition during its symposium in July 2018, before Cox Architecture + UN Studio's Green Spine scheme as the winning design.

The design team and Beulah then embarked on a study tour which included stops in Shanghai and New York to assist in informing the design.

It is expected that following a process of design refinement and development a planning application will be lodged for the site at 118 City Road, Southbank.

Should the project retain a maximum height of 356m and should it be viewed favourably by the Planning Minister's office, construction could commence on what would become Australia's tallest tower in 2020 at the earliest.

The winning concept for Green Spine featured a mix of uses including residential, commercial, hotel, a school and a highly permeable ground plane which extends the Southbank Boulevard linear park (see below) into the site and extends up the length of the towers.

For more details on the Green Spine and to view the other entries <a href="/news/southbank-by-beulah-the-winning-design-for-australias-tallest-tower-revealed">click here</a>.

<h2>Yarra Pool</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/wowowa_v01-overview-1024x576.jpg" rel="gallery-all" title="WOWOWA + Yarra Pools' concept for a public pool at Enterprize Park. Image: Yarra Pools"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/wowowa_v01-overview-1024x576.jpg?itok=8-cgUwOj" title="WOWOWA + Yarra Pools' concept for a public pool at Enterprize Park. Image: Yarra Pools" width="580"></a>

<figcaption>WOWOWA + Yarra Pools' concept for a public pool at Enterprize Park. Image: Yarra Pools</figcaption></figure>Designed by WOWOWA and inspired by urban river swimming projects both locally and globally, Yarra Pools is a community-led proposal which seeks to transform an under-utilised section of the Yarra River's Northbank into a thriving community facility centred around water-based activities.

The proposal would include (amongst other things) wetlands, a natural leisure pool, 50m lap pool, kids pool, cafe and pavilion.

Yarra Pools is currently seeking support to advance the project through a community-led, multi-staged design and construction process. You can read more about the Yarra Pool concept <a href="/news/wowowa-and-yarra-pools-unveil-public-pool-proposal-for-melbournes-northbank">here</a> or give your feedback on the new design <a href="https://yarrapools.typeform.com/to/IPZews">here</a>.

<h2>Southbank Boulevard + Dodds Street </h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/sthbank_blvd.jpg" rel="gallery-all" title="The City of Melbourne's Southbank Boulevard project is now underway. Image: City of Melbourne"><img alt="" class="image-article-full-width-580px" height="336" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/sthbank_blvd.jpg?itok=sQWKEQQk" title="The City of Melbourne's Southbank Boulevard project is now underway. Image: City of Melbourne" width="580"></a>

<figcaption>The City of Melbourne's Southbank Boulevard project is now underway. Image: City of Melbourne</figcaption></figure>The first stage of City of Melbourne's significant project for Southbank has commenced with tram infrastructure works already completed between St Kilda Road and Sturt Street. 

Construction is now underway on the remainder of Southbank Boulevard between Sturt Street and City Road. This portion of the project will be undertaken in a number of stages and will see the west bound carriageway discontinued to create new public open space, and the current east bound one way carriageway converted to two way traffic.

The first stage is due to be completed in August of this year. Upon completion, the six stages of the project will create 2.5 hectares of public space and neighbourhood parkland within Southbank, which has become Melbourne's most densely populated suburb.

<h2>Elizabeth Street South</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/elizabeth-street_south.jpg" rel="gallery-all" title="Work is set to commence on Elizabeth Street South in the coming months. Image: City of Melbourne"><img alt="" class="image-article-full-width-580px" height="327" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/elizabeth-street_south.jpg?itok=a7n5fZW6" title="Work is set to commence on Elizabeth Street South in the coming months. Image: City of Melbourne" width="580"></a>

<figcaption>Work is set to commence on Elizabeth Street South in the coming months. Image: City of Melbourne</figcaption></figure>Work is finally set to commence by the middle of this year on the City of Melbourne's long mooted pedestrianisation of Elizabeth Street South which will replace a stretch of road surface with a new tree lined public space.

Originally due to begin early last year, the project was delayed to allow for construction of an office development at 276 Flinders Street.

The 10-storey development is nearing completion and has direct frontage to the section of Elizabeth Street to be transformed, limiting Council's ability to build the new public space immediately while maintaining pedestrian safety around the construction site.

The City of Melbourne has set aside $2.2m to complete the project which will include the creation of better public realm with new bluestone paving, street furniture, lighting, trees and drainage improvements. 

<h2>Market Street Park</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/market_st_park_collins_street_interface.png" rel="gallery-all" title="Market Street Park will deliver much needed open space into the heart of the city. Image: City of Melbourne"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/market_st_park_collins_street_interface.png?itok=C1SNgDwu" title="Market Street Park will deliver much needed open space into the heart of the city. Image: City of Melbourne" width="580"></a>

<figcaption>Market Street Park will deliver much needed open space into the heart of the city. Image: City of Melbourne</figcaption></figure>Being delivered as part of Cbus Property and ISPT's $1.3bn Collins Arch development currently under construction, the Oculus-designed park along Collins and Market Streets will add much needed green space to the heart of Melbourne's CBD. 

To facilitate development of the park, City of Melbourne is contributing part of the Market Street road reserve while Cbus Property and ISPT are contributing part of their development site.

The new 1,900 sqm park comprises five distinct zones; Collins Street Interface, Northern Lawns, Playful Terrace, Central Plaza, and City Garden.

Upon completion the park will be vested back to the City of Melbourne for public use and management.

<h2>Melbourne Square - Public park, Hilton Hotel and future stages</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/melbourne_sq_update_jan19.png" rel="gallery-all" title="L-R: Melbourne Square Public Space | Floodslicer; Indicative model showing future stages | Colliers; Construction photo | Urban forum member redden "><img alt="" class="image-article-full-width-580px" height="132" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/melbourne_sq_update_jan19.png?itok=gV2JrG16" title="L-R: Melbourne Square Public Space | Floodslicer; Indicative model showing future stages | Colliers; Construction photo | Urban forum member redden " width="580"></a>

<figcaption>L-R: Melbourne Square Public Space | Floodslicer; Indicative model showing future stages | Colliers; Construction photo | Urban forum member redden</figcaption></figure>Construction at Melbourne Square is racing ahead at OSK Property's $2.8 billion Melbourne Square project in Southbank.

The six-tower project comprises four residential towers, an office building and a hotel sited around a new central public space.

The first stage is 75% sold and features two residential towers of 231m and 179m respectively, the public park and a full line Woolworths - Southbank's first full line supermarket.

The 3,700sqm park has been designed by Taylor Cullity Lethlean and encompasses more than 20 per cent of the overall site  Read more about the park <a href="/news/melbourne-square-to-add-some-much-needed-green-infrastructure-to-southbank">here</a>.

It was also recently reported in the <a href="https://www.afr.com/real-estate/commercial/hotels-and-leisure/hilton-to-return-to-melbourne-with-600room-flagship-at-melbourne-square-20190117-h1a6c5">AFR</a>, that OSK was negotiating with Hilton Hotels &amp; Resorts to operate a 600-room flagship luxury hotel with an anticipated opening date of 2022.
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Laurence Dragomir

Melbourne's Headline Acts for 2019

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The Melbourne residential market has experienced years of unprecedented growth that saw prices peak in November 2017.
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Now, after decades of rapid price hikes, the market is starting to self-correct to a level more traditionally akin to a ‘normal’ market, with organic ebbs and flows. 
David Kobritz, executive chairman of Dealcorp, said the housing market in Melbourne has always come back stronger after downturns.
“Melbourne’s property market has experienced four significant downturns in the past 30 years and they have all been as a result of tightened credit conditions, whether at the instigation of banks themselves or through government/regulator intervention," Kobritz said.
"Every time the housing market comes back stronger due to the release of pent up demand and ongoing population growth; What is happening now is part of the natural property cycle in Australia, every eight – 10 years we go through a downturn, but we always recover quickly when common sense prevails.”
Kobritz suggested the fundamentals in the market remain strong, particularly around low vacancy rates, population growth, increasing cost of construction and foreign buyers with a strong appetite to purchase.
"I think we are at or close to the bottom of this downturn/cycle and we should return to strong growth in the medium term, especially as the supply side will reduce significantly over the next few years.”
He said the heat has been taken out of the market and will return to more normalised conditions.
“The economy relies on a strong property and construction market and I would expect that some of the restrictions and disincentives imposed by governments and regulators will begin to ease in 2019.”
Luke Hartman, managing director of Metro Property, said it won't take long for markets to recover, and believes those that are brave enough to buy property when there is weakness in the market are those that will prosper the most.
“We’ve seen this happen all before; any time there is uncertainty about the property sector, particularly around an election, buyers will sit on their hands and wait to see what happens next," he said.
"It causes the market to stagnate and drives prices down, the irony of which is that it makes it the perfect time to buy.” 
“Markets do recover, and I don’t think it will take long. 
"Next year we will have much more certainty on the direction the market is going following the results of the Royal Banking Commission and the federal election. 
"Once that happens, I think the market will bounce right back up. There is currently a very small window of opportunity that exists for buyers in the market before that happens.” 
"There’s less buyers to compete with, properties are better value and when the market inevitably picks back up again they will see their investment pay off with significant capital gain.”
Elias Jreissati, group chairman at Bensons Property Group, said the extent of the current softening is highly exaggerated and sensationalised.
"The Melbourne housing sector had very strong growth for nearly 10 years, it is natural that there will be a slowdown for a while," he advised. 
“The fundamental driver of housing is population growth and it continues unabated. Overseas immigration is still strong, people are still growing up and wanting to move out of home, downsizers are still wanting to downsize and people wanting to own their own home still aspire to do so. These facts never change.
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"With the mad heat having dissipated from the market, there should be more quality stock available for the discerning purchasers. The thing with property is that if you own it for the long term, it always forgives you and profits you.” 
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Leonard Teplin, director of Marshall White Projects, said there will always be demand for well-designed apartment developments. He said the office average sale price of an off-the-plan apartment rose to $963,000 over 2018.
“The apartment market for off-the-plan remains consistent, with enquiry meeting demand through most of 2018 within strong areas of Melbourne," he said.
"Given the relative affordability of finance for couples, these buyers are happy to invest more, move to stronger areas or purchase bigger apartments.
“There will always be demand for well-designed and appointed projects within good locations, close to amenities and infrastructure offering carefully considered floorplans that cater to the end buyer’s needs.
"These basic fundamentals have buoyed Melbourne’s property market and continue to get stronger.” 
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jrobinson-rf4aSBido9

Now is the time to buy in Melbourne: What the experts say

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Melbourne house and unit rental prices continue to rise, with both achieving new record highs, according to the latest research from Domain.
Domain found Melbourne house rents increased 2.3 per cent over the quarter and 3.5 per cent over the year to $440 per week, while rental yields improved 1.4 per cent over the quarter and 4.4 per cent over the year to 3.20 per cent. 
Unit rents remained unmoved over the quarter, but increased 2.5 per cent over the year to $410 per week.
Unit rental yields improved 0.7 per cent over the quarter and 2.7 per cent over the year to 4.41 per cent. 
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
Domain Senior Research Analyst, Dr Nicola Powell said, “despite a large pipeline of new apartments hitting the rental market in recent years, competition has been driven by strong population growth. However, with interstate and overseas migration slowing from their historical highs, we could see demand soften over the longer term.”
“Gross yields have improved, suggesting rental prices are holding firmer relative to property values. This improvement may not be enough to entice investor activity, given that the prospects of short-term capital gains are minimal. High purchasing costs mean gross yields are low, suggesting many investors have been attracted by the previously strong capital gains or the tax benefits of negative gearing,” she concluded
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Melbourne house and unit rents at record high: Domain

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Melbourne's house value decline accelerated to 9.1 percent in late 2018, according to CoreLogic.
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Melbourne’s top quartile housing market led the way with dwelling values down 11.2 percent over the year, while the lower quartile of the market has remained in subtle growth territory over the year (+0.5%).
Melbourne values are down 7.2% since peaking in November 2017. 
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At the end of 2018, Melbourne values are back to February 2017 levels, Tim Lawless, the head of research at CoreLogic said.
The 7.2 percent Melbourne decline from its peak 13 months ago compares with Sydney's 6.9 percent dip when it was 13 months into its downturn.
Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/dwell1.jpg" target="_blank">to enlarge</a>.
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Melbourne's inner east was the nation's worst performing housing market in 2018, according to CoreLogic.
The region saw declines of 13.4 percent.
The worst performing list, dominated by Sydney suburbs, only had one other Melbourne suburb, the inner south, which saw 10.5 percent decline.
Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/Ryde4.jpg" target="_blank">to enlarge</a>.
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Melbourne's inner east comprising of the likes of Doncaster, Hawthorn, Surrey Hills and Park Orchards.
Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/Cl-Jan2full.jpg" target="_blank">to enlarge</a>.
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This time last year, at the end of 2017 Tim Lawless noted that the 2017 shift to falling national dwelling values was being driven by the capital cities, with the combined capitals tracking half a percent lower over the December quarter, while across the combined regional areas of Australia, values were half a percent higher over the quarter.
Amongst the capitals, the weakest end of 2017 year conditions were concentrated in Sydney and Darwin.
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At December 31, 2017 Sydney dwelling values remained 70.8 percent higher than their cyclical low point in February 2012.
The best performing capital city over the 2017 calendar year was Hobart, where dwelling values rose by 12.3 percent: almost five times higher than Hobart’s decade average annual rate of capital gain (2.5 percent).
 
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Melbourne's inner east the nation's weakest house price market in 2018: CoreLogic

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A new commercial development on Melbourne’s Lonsdale Street has been announced.
Charter Hall's Wesley Place will include three commercial office buildings, retail, culinary and community amenities.
Set for completion in 2021, the project at 130, 140 and 150 Lonsdale will also include restoration of the site’s Neo-Gothic buildings.
The overall site area is 1.1. hectares and pre-committed tenants including Vanguard and Telstra Super.
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