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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"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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Lendlease have secured one of Japan’s largest property companies, Mitsubishi Estate Asia, as a joint venture partner in Melbourne Quarter’s first residential building, East Tower.
Mitsubishi Estate Asia and Lendlease will each hold a 50 per cent interest in the 44-storey building – Lendlease’s largest residential tower in Australia – which will offer views over the CBD, the Yarra River and Port Phillip Bay.
Construction of East Tower commenced earlier this month.
Located at 628 Flinders Street, East Tower offers 719 one, two and three bedroom apartments, designed by internationally acclaimed Melbourne architectural firm Fender Katsalidis Architects; it is one of three residential towers approved for the site.
Kylie Rampa, Lendlease CEO for property, said the partnership with Mitsubishi was a strong vote of confidence in Melbourne’s apartment market and Lendlease’s vision for its latest urban regeneration project, Melbourne Quarter.
“The joint venture with Mitsubishi Estate Asia demonstrates the strength of our plans to revitalise the western end of Flinders Street into a new and thriving residential and commercial neighbourhood, including what will be our largest residential building in Australia,” Rampa said.
“We are reimagining this part of Melbourne’s CBD as a new city landmark, with more than 50 per cent of the precinct dedicated to public open space.
“This partnership with Mitsubishi furthers Lendlease’s strategy to engage with world-leading organisations to bring to life our vision to create the best places,” Ms Rampa said.
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This is the second time Lendlease has partnered with Mitsubishi Estate Asia on a major project, following Mitsubishi and Ping An Real Estate signing with Lendlease as joint venture partners on Circular Quay Tower in Sydney last year. 
Shojiro Kojima, Mitsubishi Estate Asia managing director, said the project will offer refine apartment living near the city.
Once finished, Melbourne Quarter will be home to 3,000 residents and 12,000 workers. The precinct will feature three public green spaces comprising a neighbourhood park next to East Tower, an elevated garden called the Skypark on Collins Street, and a new city square at the heart of the precinct. 
Melbourne Quarter’s residential towers received planning approval from Planning Minister Richard Wynne in August 2016. Construction is underway on the precinct’s first office building One Melbourne Quarter, which is due to be completed in September 2018. 
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jrobinson-rf4aSBido9

Lendlease partners with Mitsubishi Estate Asia at Melbourne Quarter residential tower

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Chinese developer Dahua Group is reweighting its Melbourne portfolio.
Last week Dahua Group announced the purchase of two plots covering 113 hectares in Wollert, about 27 kilometres north of Melbourne.
Agents speculate based on the local land value of about $1.3 million per hectare, costing around $140 million.
It is now offering three subdivided portions of the <a href="http://kingsleigh.com.au/" target="_blank">King's Leigh housing estate</a> it co-owns with the Dacland Group in Werribee, targeting medium-density builders.
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The sites are between 1226 square metres and 4010 square metres listed through Cushman &amp; Wakefield's Peter Sagar and Paul Callanan.
King's Leigh (top and above), is a 49 hectare Old Geelong Road subdividion turning into an upmarket housing estate over the next three years.
 
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j.ballantyne1990-6AQqhLzZaK

Chinese developer Dahua Group reweighting its Melbourne portfolio

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Sydney’s investors are still keen to buy apartments, just not necessarily in Sydney, Nerida Conisbee, chief economist at realestate.com.au suggests.
Her recent analysis on the most searched-for new apartment locations by Sydney property seekers showed that inner-Sydney Alexandria was the most searched location.
The No 2 ­location was the Melbourne CBD.
With the exception of Alexandria, the Victorian capital is far more popular among Sydney buyers than any other Sydney suburb.
After Alexandria and the Melbourne CBD, the most searched-for suburbs for new apartments by Sydney-based property seekers were inner-city Waterloo, Parramatta in the west, and the middle-ring northern suburb of Macquarie Park, all in Sydney.
"The simple fact is, prices for apartments in Sydney are far higher than in Melbourne or ­Brisbane," Conisbee noted.
The median for apartments in Sydney is now $735,000 compared with Melbourne at $550,000 and Brisbane at $398,000.
"The majority of investors and first-home buyers tend to be very price sensitive, so much so that it’s very difficult for us to tell the difference between the two groups on the website when ­analysing their behaviour.
"A price ­differential of more than $150,000 can make a big difference as to whether a first homebuyer or ­investor can afford to buy or not.
"The other group that contributes significantly to demand for apartments in Australia is offshore buyers.
"Our monthly analysis of Chinese-buyer demand continues to show increases in property seekers from China ­looking to Melbourne and Brisbane.
"At the same time, demand for Sydney apartments among this group has dropped by 10 per cent over the past 12 months," she said adding offshore buyers are more likely driven by overseas students looking at alternatives to Sydney as a preferred place to study in Australia with the list of searched suburbs dominated by those close to universities.
In Melbourne, inner-city Carlton makes the list, while in Brisbane, St Lucia, the home of the University of Queensland features heavily.
The only Sydney location to rank is Westmead, in the city’s west, home of the Westmead Clinical school, a favourite among Indian property seekers.
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Sydney investors and Chinese buyers look to Melbourne for cheaper apartments: REA's Nerida Conisbee 

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GUEST OBSERVER
Road congestion in large Australian cities is estimated to cost more than A$16 billion a year. Economists have long argued the best way to improve traffic flow is to charge drivers for their contribution to road congestion. We have now analysed data collected from 1,400 drivers across Melbourne to see whether road user charging can change their behaviour in ways that ease congestion. And the answer is yes.
Because the obstacle to adopting this approach has been concern about its fairness, we also looked at driver incomes. Would congestion-based charges price the poor off the road for the benefit of those who can pay? We calculated how different systems of road use charges affected households on different incomes, and how driving patterns changed under different prices.
The evidence does not support other common policy responses to traffic congestion. Building new roads does little to relieve congestion. Placing tolls on roads can push traffic onto others.
However, even small reductions in congestion can produce large benefits. On congested roads, reducing traffic by 5% can increase traffic speeds by up to 50%.
The question is: what would the optimal charges be? Drivers often plan their travel ahead of time, so Uber-like surge pricing is not necessarily the best way to go. Could simpler fixed charges, based perhaps on time of day or location, be effective?
In 2015-2016, Transurban Group implemented the Melbourne Road Usage Study (MRUS) to answer these questions. More than 1,400 drivers across greater Melbourne installed GPS devices in their vehicles for eight to ten months. After a period to establish baseline use, a randomly selected subset faced a series of road use charges via a system of virtual accounts. Every month participants accumulated real money from reduced charges as a result of their decisions about driving.
Well-targeted charges ease congestion
The Melbourne Road Usage Study tested three simple charges:
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<li>a flat distance-based charge of 10 cents per kilometre</li>
<li>a time-of-day charge of 15 cents per kilometre at peak times and 8 cents at other times</li>
<li>a distance-plus-cordon charge where drivers were charged 8 cents per kilometre at all times plus A$8 if they entered the inner city.</li>
</ul>
Our working paper, Can Road Charges Alleviate Congestion?, evaluates the raw data.
Charges that vary by time of day were most effective at reducing driving at congested times. Drivers subjected to a higher cost of driving in the weekday peak hours of 7am to 9am and 3pm to 6pm reduced travel by 10% during these periods.
While a simple 10 cent charge on distance travelled did reduce driving, this was mainly outside the congested inner city and at off-peak times – mostly in the middle of the day and on weekday evenings. Most freeway congestion occurs around morning and late afternoon commutes.
London and Singapore have charges to enter the congested city centre. Further research is needed to assess the effects on inner-city traffic in Australian cities.
The evidence points towards most drivers who enter the CBD being willing to pay higher weekday charges. But few drivers entered the cordon zone during the study. Less than 5% of the drivers made over half of the trips into the area.
Access to reliable public transport matters
Public transit has a key role in getting cars off the road. Our data showed households located far from the CBD and from public transport drive more. Living 500 metres closer to a tram or train station has the same effect on kilometres driven each day as living 5km closer to the CBD.
Households within a 10-minute walk from public transport drive least. The largest reductions in driving from time-of-day and cordon charges come from households living 10 to 20 minutes’ walk away.
Road use charges could be fairer
Congestion-based charges can be a more progressive way to fund roads than the existing system of registration fees and fuel taxes.
The fuel excise makes up almost half of the average annual road bill in Australia. It’s essentially a distance-based fee, but more fuel-efficient vehicles pay less per kilometre travelled. Hybrid vehicle drivers, for example, contribute much less to fuel tax revenue.
Yet, although hybrids contribute less to air pollution, they increase congestion just as much as their petrol-guzzling counterparts. And congestion is a much greater shared economic cost than vehicle air pollution.
Annual vehicle registration fees make up most of the remaining road bill. These provide no incentive to reduce congestion.
Fuel taxes and registration fees put a disproportionate burden on low-income households in the outer suburbs. Our research shows these households would be better off if roads were funded more by congestion charges.
Field experiments help get the settings right
So what is the optimal congestion charge? Economic theory (Pigou 1920) tells us to price at the cost that each extra user imposes on the system.
With road use, though, the calculation is difficult. To fix rates in advance, we would need to know exactly how much longer everyone’s trip is when each extra driver joins each system. And we’d need to cost that slowdown for each individual on the road at that time (i.e. value their time and, potentially, the cost to them of being late). New research has been using clever experimental designs to identify these values.
That said, maybe it is not too important to get the price just right. For electricity, we are starting to see that households respond to there being a price, not its specific level.
Before widespread road use charges are implemented, we would like to see more field experiments like the MRUS to find answers to other questions. Would it be better to combine a time-of-day charge with targeted locations? How effective would it be to charge more for using highly congested arterial roads at peak times? Would this simply push congestion onto nearby local roads? How large a gap between peak and off-peak prices is needed to produce a strong response?
Another interesting option is the i10 model outside Los Angeles. Two lanes are for traffic willing to pay more to get to their destination faster.
Dynamic pricing ensures traffic in these lanes flows freely – if too many use these lanes and traffic slows, the price increases. Drivers can decide every few kilometres if they want to pay more to stay in the express lanes. Those who must get somewhere on time are able to, and the fee revenue can be used to reduce road costs for others.
The Melbourne Road Usage Study (MRUS) shows field experiments can help us design better road use charges. By all appearances, households took it seriously and were positive about their involvement.
<img src="https://counter.theconversation.com/content/86324/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">The MRUS provides evidence that well-designed road use charges could help reduce congestion by encouraging people to drive at different times, take other routes or use other transport. This could lead to better use of existing infrastructure, thereby reducing costs, while generating revenue for infrastructure investments. Under such a system, drivers who contribute little to congestion could see substantial gains.
Leslie A. Martin, Lecturer (Assistant Professor) in Economics, University of Melbourne 
Sam Thornton, Master of Economics candidate, University of Melbourne
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/city-wide-trial-shows-how-road-use-charges-can-reduce-traffic-jams-86324" target="_blank">original article</a>.
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Melbourne's city-wide trial shows how road use charges can reduce traffic jams

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The Agency Projects Melbourne is set to be headed by new associate director Matt Carver.
Carver, a former top 100 professional golfer on the PGA European Tour, has spent two decades in the real estate industry in both residential and project development.
"After 15 years in residential, I found my calling in projects," Carver said.
"It has been incredibly fruitful for me professionally and for my development clients.
"Then when I received a call from the number one project manager in Australia, Steven Chen... I realised there was only one person I wished to work with."
 The<a href="https://theagencyprojects.com.au/"> Agency Projects</a> division has experienced demand for its services within the Melbourne market since launching earlier this year, with many project clients seeking greater access to the Sydney and broader Asian markets. 
In response to this demand, director of projects Steven Chen and his team have been looking to expand into Melbourne but required the right leader for the role.  
"The timing is right and Matt Carver is the right person to lead our entry into the Melbourne project space," Chen said.
"Our business is all about the people and Matt Carver is the perfect fit in terms of his level of professionalism, years of tenure in the projects sphere and ability to add value to our clients.
 “Not only does Matt have the ability to develop and deliver key sales and marketing services to his clients, but he has a very unique professional background. Matt is mentally strong, very focused and disciplined, and big on detail – which is inherently important in project management.” 
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Matt Carver heads up The Agency Projects Melbourne

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CoreLogic's head of research Tim Lawless talks the Melbourne housing market.
 
<iframe src="https://www.youtube.com/embed/QVi7dES6gvA" frameborder="0" width="450" height="315"></iframe>
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Melbourne's market update for November: CoreLogic

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The pipeline for delivery of new student accommodation in Melbourne has increased quite significantly in the last 12 months, according to Savills.
According to a recent research report, in 2016 there was a total pipeline of 9,651 beds, which has increased to 16,295 beds in 2017. 
This increase has been driven by two key factors. Firstly, the availability of development sites in proximity to the University of Melbourne’s Parkville Campus and RMIT University have contributed to an increase in the promotion of off-campus projects. Secondly, the University of Melbourne’s 2020 strategy to increase the pipeline of student accommodation bedrooms to 6,000. 
<a href="https://www.propertyobserver.com.au/images/2017/11/21/MelbourneStudents.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/21/MelbourneStudents.png" alt="">
“Our analysis of the pipeline supply indicates that 3,958 bedrooms are programmed for delivery in 2018. In 2019,” according to Savills’ recent Student Accommodation Report. 
 <a href="https://www.propertyobserver.com.au/images/2017/11/21/GreaterMelStudent.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/11/21/GreaterMelStudent.png" alt="">
3,771 beds have development approval or are under construction, therefore combined with more speculative developments there is a total of 6,341 bedrooms that may be delivered in 2019. 
If all of the accommodation within the supply pipeline is delivered, the existing provision of circa 7.2% (based on 2015 student numbers) may increase towards 9.1% in 2020 and 11.6% in 2025. 
Analysis of the development pipeline indicates that over 50% of the proposed new developments will comprise self- contained studios. The balance of the pipeline is distributed between shared apartments, and circa 10% which is dormitory styled influenced by the universities. 
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Melbourne's student accommodation pipeline rose sharply in 2017: Savills

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Two fashion and accessories tenants have signed up for new spaces within the popular Puckle Street retail strip in the inner Melbourne suburb of Moonee Ponds. 
Casual wear label Sportscraft has leased at 63 Puckle Street, while 66 Puckle Street has been taken up by fashion accessories and handbags retailer Colette by Colette Hayman. 
Sportscraft signed a three-year deal with further extension of three more years at $95,000 per annum net with 4% increases for the 200 sqm space, which was offered for the first time in four decades.
Colette by Colette Hayman will move into the 150 sqm shop on a five-year lease with a further five-year option and pay $80,000 per annum with 4% increases. 
The lease was negotiated by Fitzroys agent Terence Yeh.
He said the strong results and long leases demonstrate tenants’ confidence in the area. 
“Puckle Street’s limited amount of spaces available - totalling around 150 shops - offers businesses greater access to the local catchment population, further underpinned by the number of residential dwellings introduced to the area in medium and high-density developments.” 
There are more than 1,500 apartments within the Moonee Ponds Activity Centre in various stages of planning and development, generating confidence among businesses for the retail strip’s long-term viability. 
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prateek24-ezbwHMbNAk

Clothes and fashion retailers sign leases in Moonee Ponds retail strip 

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Property buyers can save a six-figure sum by purchasing in the next suburb along the train line, according to an analysis of new median house price data from the Real Estate Institute of Victoria.
In the September quarter, the Belgrave line recorded the largest price difference between stations with Canterbury’s median house price ($2,875,000) almost a million dollars more expensive than those serviced by the Chatham station in Surrey Hills ($1,930,000), the REIV data shows. The two stations are less than a kilometre apart.
As an illustration, a four-bedroom townhouse at <a href="https://www.realestateview.com.au/real-estate/61a-broughton-road-surrey-hills-vic/property-details-buy-residential-11311455/" target="_blank">61A Broughton Road, Surrey Hills</a> (picture above) has been advertised for sale on realestateview.com.au for $1.525 million. 
The listing agents are Tim Heavyside and Harley Toyle of Fletchers.
Buyers who purchased a home in Heidelberg, rather than the previous suburb on the Hurstbridge line, Eaglemont, can expect to save up to $896,000. 
Savings of around $600,000 are also possible further on the South Morang line by purchasing in Thomastown instead of nearby Thornbury, serviced by the Keon Park railway station. 
In Thomastown, a four-bedroom house on a 695 sqm block at <a href="https://www.realestateview.com.au/real-estate/8-barbara-court-thomastown-vic/property-details-buy-residential-11432808/" target="_blank">8 Barbara Court</a> (below) is up for sale with a price tag of $790,000.
<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/2017/11/15/Thomastown.jpg" alt=""> 
A number of city locations have delivered six-figure savings when compared with the median house price in the previous suburb on the train line, according to REIV president Richard Simpson.
“Many of these areas are only one or two kilometres further from the city but provide a more affordable alternative for those who may have their heart set on buying in a particular suburb.”
In fact, one stop can make a difference of up to a million dollars, suggests the REIV data. Commuters were able to save more than half a million dollars by purchasing one stop further along the Werribee train line in Laverton, rather than Westona.  
In Noble Park on the Pakenham line, buyers were able to purchase homes for $142,500 less than the previous suburb of Springvale, serviced by the Sandown Park station.
“Areas that offer value without the need to compromise on location or amenities are highly attractive to buyers, with many of these bridesmaid suburbs also experiencing solid capital growth in recent years.”
Simpson added that with a majority of inner and middle suburbs having median houses prices above $1 million, there was more competition further from the CBD.
“Homebuyers willing to commute for a few extra minutes each day are able to consider a greater number of suburbs, including new growth areas which may not have peaked in terms of price growth.” “Access to public transport is a key factor for many buyers, and can increase the value of a property.”
 
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Buying near the next train station out can save millions for Melbourne home buyers

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<div>A locally-based Chinese syndicate has purchased Melbourne’s landmark Burgundy Plaza in Heidelberg for $14,390,000.</div>
<div> </div>
<div>CBRE negotiated the sale with Miles Real Estates with the sale price representing a passing yield of 1.75 percent.</div>
<div> </div>
<div>The building rate was $14,155 per sqm and a land rate at close to $6,000 per sqm.</div>
<div> </div>
<div>Burgundy Plaza at <a href="https://www.cbremelbourne.com.au/wp-content/uploads/2017/09/Burgundy_Plaza_4pp_08.pdf" target="_blank">101-111 Burgundy Street</a> comprises a collection of retail shops and first floor offices situated on a Commercial Zoned 1 landholding suitable for long-term, mixed use development.</div>
<div> </div>
<div>The retail complex has 31 rear car spaces.</div>
<div> </div>
<div>It was sold by a local investor who had owned the it for 30 years.</div>
<div> </div>
<div>There were over 25 offers totalling more than $220 million for a strata retail asset with limited immediate development.</div>
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