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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Interstate migration to Queensland is picking up again as expected as folks head north from crowded and pricey Sydney, but it was the record interstate migration to Victoria which really shot the lights out over the year to September. 
The driver of this is clear, since Victoria alone has been creating almost all of Australia's jobs lately.
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 Net overseas migration also accelerated into Sydney, Melbourne, and south east Queensland.</div>
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 <div>As a result the most populous states are mopping up a huge share of population growth, with New South Wales and Victoria alone accounting for 68 percent of the population increase, and Queensland a further 19 percent. </div>
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 <div>Absolute population growth increased to 67,700 in Queensland and a massive 109,600 in New South Wales - mainly into Greater Sydney - but Victoria is breaking demographic records not seen since the gold rush, with the total population exploding 127,500 higher over the year to September. </div>
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 <div>Here are those same numbers looked at over the past three years, with South Australia and Western Australia losing momentum, and the largest capital cities gaining population growth at their expense. </div>
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<div>The massive headcount growth into Melbourne in particular explains why residential housing vacancy rates have been falling, close to a decade low at the last count. 
</div>
<div>Despite many new tower blocks adorning the skyline, a record supply of small apartments has only partially absorbed a vast surge in migration to the Victorian capital.</div>
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<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>.
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Melbourne crowned king of jobs and growth

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Multiplex has reached a major construction milestone on Hengyi Pacific’s $170 million high-rise residential tower, Light House, reaching the highest point of the 70-level building which will have a coloured mosaic facade.
Located at 450 Elizabeth Street on the corner of Franklin Street in Melbourne’s CBD, Light House will comprise 607 apartments.
Graham Cottam, regional managing director of Multiplex Victoria, said precast and prefabricated components had been utilised in some parts of the construction methodology to improve on-site speed and work within the constraints of a small CBD site.
Light House had presented many challenges with the small building footprint requiring a complex delivery and loading schedule, Cotton said.
The tower will feature 66 levels of apartments including one, two and three bedroom configurations, with a ground floor lobby and retail space over the ground and first levels.
Architects Elenberg Fraser have designed a sleek tower that is a ‘three-dimensional kaleidoscope’ that twists and undulates on its axis thus creating a façade that appears to be a moving object.
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Light House features purple tinted angular aluminium panels which change colour depending on your perspective.
Resident facilities include a gymnasium, private dining and entertaining rooms complete with kitchen facilities.
A steel and glass roof sits above a 25 metre lap pool. 157 automated car stacker spaces and 201 bicycle racks will be provided over seven podium levels.
ESD features have been incorporated into the design with rainwater harvesting and re-use included in the landscaping, high performance double glazing used throughout and energy efficient lighting systems fitted throughout the development.
Apartments will be fitted with WELS rated water efficient fixtures and appliances and natural ventilation will be provided to all habitable spaces.
Over 300 workers have been on-site at any one time and construction is expected to be completed by August 2017.
Multiplex has also been engaged to undertake Hengyi’s Swanston Central development at 170 Victoria Street Carlton, of which sales are down to the last 10% with Colliers International as head agent.
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Multiplex tops out $170 million Light House project

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Development of Lendlease's second commercial tower at their Melbourne Quarter development has been given the green light by Planning Minister Richard Wynne.
The development at 693 Collins Street will be 28 levels high and feature 55,000sqm of office space and around 2,500sqm of retail space.
Construction of the first building, One Melbourne Quarter has begun.
Mark Menhinnitt, Lendlease managing director, Urban Regeneration, said he has seen a commercial shift towards this part of Collins Street at the heart of the Southern Cross precinct.
“Melbourne Quarter aims to set leading standards in environmentally sensitive and sustainable development, and aspires to be Melbourne’s greenest city precinct," he said.
“The hero of the new precinct, the skypark, will complement Melbourne Quarter’s leading workplace design, offering workers the ability to re-charge or work outside the office, enhancing their health and wellbeing. This is a key trend in global workplace design.
“In addition to the skypark, a new public square on Collins Street will be at the heart of the precinct. Surrounded by cafes, bars and restaurants, this will blur the lines between workplaces and retail to create vibrant green spaces that maximise business efficiency.
“The precinct boasts a strong environmental focus, with more than half of the site dedicated to public open space and a 99 per cent walkability rating to facilitate greener, healthier workplaces.
Melbourne Quarter Tower is one of seven commercial and residential buildings planned for the neighbourhood.
For further information, visit <a href="https://www.melbournequarter.com" target="_blank">www.melbournequarter.com </a>
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Green light for Lendlease's second Melbourne Quarter commercial tower 

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Coffee retailer Workshop Brothers will open its second Melbourne CBD store, this one on Collins Street.
They have signed a seven-year lease for an 18sqm hole-in-the-wall at 410 Collins Street, is opposite the Mitre Tavern.
The space was previously used as  China Construction Bank’s storage facility.
Tan Thach from CBRE’s  negotiated at $60,000 per annum and said Workshop Brothers were looking for trendy locations to branch out from flagship stores and increase their brand presence.
“Switch Board Cafe occupies a switchboard cupboard in the Manchester Unity building, Saluministi has secured a former car park ticket office on Flinders Lane and Black Velvet Espresso is operating its business tucked on the side of the136 Exhibition Street foyer," he said.
"There were still many cafe operators looking for miniature spaces in the tightly held Melbourne CBD retail market that provide an attractive price point for tenants, yet offer a higher rate per square metre for landlords.
“Due to the low vacancy rate and high demand from retailers in recent years, landlords are being creative with their properties, transforming unexpected locations into useable retail spaces,” Mr Thach said.
Josh Rutman, CBRE’s director of city sales said with yields currently sitting at record lows, slight increases in income can have a wide-ranging impact on capital values. In this instance the increase could be over $1 million in value.
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Coffee retailer Workshop Brothers signs Collins Street lease

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BRW Rich Lister Lloyd Williams has $120 million hopes for a property that includes one of Melbourne CBD's biggest car parks.
The 16-level property at 114 Flinders Street, at the city's east end, has five ground-level retail tenancies with 1200 car bays.
Topping the tower are six levels of office space, overlooking Flinders Street and the Yarra River, Fairfax Media note.
Agents from CBRE along with Knight Frank's Martin O'Sullivan and Paul Henley say the Hudson Conway-owned car park benefits enormously from servicing strong demand from commercial office users as well as being the core car park for weekend diners and visitors to the MCG, Melbourne Park and AAMI Park.
Around six months ago one of Singapore's largest property developers, Wing Tai, acquired a seven-level car park further along Flinders Street for more than $31 million on a tight investment yield of about 3 per cent, with the listed Singaporean group paying about $100,000 per bay.
Dexus Property Group has received planning approval for a $300 million high-rise apartment project on a car park it owns on Flinders Street.
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Lloyd Williams lists Flinders Street, Melbourne carpark

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SPONSORED POST
Melbourne is the top ranked ‘tech city’ in Australia and 14th in the world offering the infrastructure, business environment, talent pool and lifestyle to make it a strong base for tech companies, according to new Savills research. 
And according to Victoria’s Minister for Small Business, Innovation and Trade, Philip Dalidakis, that is no surprise given the Government’s policy of taking “brand Victoria to the world”.
While US cities dominated the top of the Tech Cities rankings – Austin (Texas) came in at number one followed by San Francisco, New York, and London, according to the <a href="https://www.savills.co.uk/tech-cities" target="_blank">Tech Cities 2017</a> programme - the liveability of cities including Melbourne, Amsterdam, Copenhagen and Toronto, placed them above more established global tech rivals.
Savills National Head of Research in Australia, Tony Crabb, said the elevation of ‘liveable’ cities in the rankings centred on their strong performance in terms of ‘buzz and wellness’, factors that were likely to prove increasingly important to the tech industry in decisions on where to locate and on attracting future talent. Melbourne was ranked 8th on this index.
“Everybody here knows Melbourne’s reputation as the world’s most liveable city, a title it has taken for six consecutive years, and so it is not surprising to see how well Melbourne ranked on this metric. 
“That single factor may well prove, more than any other, the most critical factor in further establishing and maintaining Melbourne‘s pre-eminence in what is increasingly one of the most important employment and growth industries in the country,” Mr Crabb said.
The UK report quantified ‘buzz’ (nightlife, entertainment, culture) and ‘wellness’ (pollution levels, quality of parks, healthcare, commuting times) and the cost of living in each location to create a specific ‘city buzz and wellness index’. 
It noted that given the increased focus on physical and mental wellbeing among the latest generation of workers, it could come to dominate their decision-making.
According to Nicky Wightman, Director Savills Worldwide Occupier Services, providing an environment which enables tech companies and start-ups to plug straight into the infrastructure and funding they need to be a success is an important part of any tech city.
“However this alone won’t necessarily make them attractive destinations. Young tech talent increasingly want to live in dynamic, healthy neighbourhoods within walking or cycling distance of the office.
“Cities that deliver those environments are therefore likely to consolidate their positions as destinations for tech talent and occupiers who want to attract the best staff,” Ms Wightman said.
The report’s release follows the Victorian Government’s recent announcement that Texas-based software firm, AgileCraft, would open its Asia-Pacific headquarters in Melbourne.
Mr Dalidakis said AgileCraft was yet another example of a leading global tech company choosing Victoria as an entry point for the Asia-Pacific market.
“Over the past two years we have taken brand Victoria to the world, attracting more and more leading global companies to invest in the state’s booming tech sector,” Mr Dalidakis said.
AgileCraft Chief Executive Officer Steve Elliott said Melbourne’s emerging tech sector and close proximity to Asia made it a perfect location to set up its regional headquarters and expand throughout the Asia Pacific region.
“We consider ourselves to be an innovative company at AgileCraft and the Victorian Government made it clear to us that it is trying to attract innovative businesses to the state, so we look forward to being a part of the Victorian technology ecosystem,” Mr Elliot said.
Savills Tech Cities 2017 Buzz and Wellness Index 
<a href="https://www.propertyobserver.com.au/images/2017/03/22/Tech%20Cities%20-%20Overall%20Rankings.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/03/22/Tech%20Cities%20-%20Overall%20Rankings.png" alt="">
Savills Tech Cities 2017 overall rankings
<a href="https://www.propertyobserver.com.au/images/2017/03/22/Tech%20Cities%20-%20Buzz%20and%20Wellness%20Index.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/22/Tech%20Cities%20-%20Buzz%20and%20Wellness%20Index.jpg" alt="">  
About Savills Tech Cities
<a href="https://www.savills.co.uk/tech-cities" target="_blank">Savills Tech Cities</a> 2017 programme aims to understand the diverse factors that make places a good location choice for the tech sector; examining 22 global centres which have thriving and growing tech industries, home grown start-ups and incubators, and are at the top of global shopping lists for tech companies looking for space in which to locate. <a href="https://www.savills.co.uk/tech-cities/index" target="_blank">Explore the globe</a>.
 
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jchancellor-FAypfDUnLy

Savills research finds Melbourne top ‘tech city’ in Australia   

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Melbourne's vacancy rate fell to a 10 year low in February to 1.7 percent, according to SQM Research.
The latest data from SQM found Sydney's vacancy rate, fell to 1.9 percent, down from December's figure of 2.5 percent.
<a href="https://www.propertyobserver.com.au/images/2017/03/22/Screen%20Shot%202017-03-22%20at%209.57.34%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/22/Screen%20Shot%202017-03-22%20at%209.57.34%20AM.png" alt="">
 
Louis Christopher, managing director of SQM said the last time the vacancy rate was 1.7 percent in Melbourne was in June 2007, almost 10 years ago, so this is quite remarkable.
"Despite predictions of looming apartment oversupply in inner-city Melbourne, we are seeking vacancies fall, rather than rise," he said.
“Even in in the Docklands, the vacancy rate tumbled to just 2.4 percent last month, down from a high of 6 percent in December. 
"The rental market could tighten further in Melbourne as some apartment developments are scaled back, which would cut supply and could pressure rental growth higher in that city.
"Rents rose strongly in Melbourne over the month to March 20, up by 1.6 percent for houses to $512.30 a week, giving an annual change of 7.2 percent.
"Only Canberra reported a higher annual asking rent growth for houses at 7.6 percent, with weekly asking rents up to $578.80.
"Darwin continues to record falls in asking rents for houses, down 1.5 percent over the month, while unit rents were down 1.3 percent.
"Perth has again posted the largest yearly declines, with unit asking rents down 10.1 percent and house asking rents down 7.1 percent, though monthly declines were modest at 0.1 percent and 0.7 percent respectively.
"Brisbane unit asking rents were down by 0.5 percent over the month to March 20, and house asking rents were down by 0.4 percent.
“Unlike Melbourne or Sydney, Brisbane’s unit rental market is slightly oversupplied, which has kept down rental growth. 
"But in the other big cities, rental growth is strong, and well above the inflation rate and wages growth, suggest rentals are getting more and more unaffordable for the average person." 
Property Observer found a two bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-vic-docklands-420729074" target="_blank">1607/8 McCrae Street, Docklands</a> (above) for $600 per week.
The 16th floor unit has two bathrooms, two car spaces and use of apartment facilities such as swimming pool and barbeque. 
A three bedroom fully furnished apartment at <a href="https://www.realestate.com.au/property-apartment-vic-docklands-420614638" target="_blank">70 Lorimer Street Docklands</a> is on the market for $1,500 per week. The property (below) features three bathrooms, two car spaces and views over Port Phillip Bay, Yarra River, Victoria Harbour and the CBD.
<img src="https://www.urban.com.au/images/2017/03/22/Screen%20Shot%202017-03-22%20at%2011.07.34%20AM.png" alt="" style="font-size: 12.16px;">
A two bedroom, two bathroom apartment with two car space on the market for $775 per week at <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-420615802" target="_blank">1401/480 St Kilda Road Melbourne</a> (below).
<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/2017/03/22/700_park.jpg" alt="" width="593" height="360">
The unit, on the top floor has views over Faulkner Park.
A two bedroom unit with two bathrooms and one car space at <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-420719670" target="_blank">1602/82 Queens Road Melbourne</a> (below) is on the market for $565 per week.
<img src="https://www.urban.com.au/images/2017/03/22/Screen%20Shot%202017-03-22%20at%2010.08.01%20AM.png" alt="" style="font-size: 12.16px;">
The 16th floor apartment has views of the city, the bay and Albert Park.
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Melbourne's vacancy rate falls to near decade low

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Most research sources have Melbourne leading on annual house price growth – and it’s not so surprising, when you look at the sales data.
The ABS, the Real Estate Institute of Australia and Domain all have Melbourne leading the nation for house price increases (although Hobart is challenging strongly).
Where’s Sydney in all this? CoreLogic continues to publish massive growth numbers for the Sydney house market, but those other three sources listed in the previous paragraph all record annual growth around 3 or 4 percent for the Sydney housing market.
Quite apart from the ludicrous proposition that you can reduce a metropolitan area with over 700 suburbs down to a single growth figure, this reinforces my view that all real estate statistics are rubbery figures to some degree.
When you have media constantly quoting one source (the one that reports massive annual growth) and then all those other sources which are suggesting Sydney’s price boom is over (but largely ignored by media), it’s difficult to know what to believe.
Here’s what I do know for certain: sales volumes gradually faded in Melbourne throughout 2016 but, late in the year and early in 2017, staged a revival. The city’s various markets are proving very resilient, no doubt boosted by nation-leading population growth and a state economy which, while not as strong as Sydney’s, is performing well.
My research shows that the busiest markets are split between the best of the Middle Melbourne areas and the strongest of the affordable outer-ring areas.
And the most affordable areas of metropolitan Melbourne have taken over as the city’s price-growth leaders. Many have delivered double-digit growth in their median house prices in the past 12 months.
As one example, all suburbs in the Sunshine precinct in Melbourne’s west are above 12%, including some which have grown 23-25% in the past year. Again, this data is presented with a reminder that all real estate figures are rubbery – but when all suburbs in an area are delivering the same strong growth pattern, you can be reasonably confident that something notable is happening.
Two Middle Melbourne precincts stand out: the Moreland LGA and the Whitehorse LGA. Both have numerous suburbs where sales activity is still growing.
These and other Middle Ring precincts had been fading gradually, in terms of sales activity, throughout 2016 but have come roaring back to life. Sales levels are still lower than the peaks of 2015, but remain very solid and prices continue to grow.
Typical growth areas in the Moreland LGA include Glenroy, where sales have been 113, 149, 143 and 165 in consecutive quarters. Other standout suburbs are Coburg, Coburg North, Hadfield, Pascoe Vale, Oak Park and Pascoe Vale South.
Whitehorse was the Melbourne market leader in 2015 before sales levels plateau-ed in most of its suburbs throughout 2016. But there has been a recent revival to stronger sales activity, led by Blackburn, Burwood East, Mitcham, Nunawading and Surrey Hills.
Four bottom-end markets are close behind in the terms of the number of growth markets: the LGAs of Brimbank (west), Whittlesea (far north), Casey (far south-east) and Hume (far north).
The far north of metropolitan Melbourne features strongly. The Whittlesea LGA (seven) and the Hume LGA (five) jointly have 12 suburbs with growing sales activity.
Whittlesea is consistently one of the city’s strongest markets, driven by affordability, strong infrastructure and proximity to jobs nodes. The suburb of Lalor, with sales rising from 64 to 101 to 117 to 121 in recent quarters, is typical. Nearby Epping has lifted quarterly sales from 110 to 135 to 145. 
Neighbouring Hume has similar qualities. The suburb of Craigieburn has recorded sales totalling 175, 228, 239 and 244 in the past four quarters.
The leading precinct in the far south-east is the City of Casey, which has five Rising Steadily suburbs, led by Cranbourne, Doveton and Narre Warren.
Other affordable outer-ring precincts with growth markets include Melton is the far west, Wyndham in the far south-west and Frankston in the far south-east.
Middle-ring areas travelling well, in addition to Whitehorse and Moreland, include the LGAs of Monash (Ashwood, Glen Waverley and Mulgrave), Maroondah (Croydon North, Ringwood and Ringwood East) and Banyule (Heidelberg Heights, Ivanhoe and Greensborough).
The worst performers in an otherwise strong Melbourne market are the inner-city apartment precincts.
I classify both the Melbourne CBD and Docklands as Danger markets. Sales levels have dropped markedly at a time of increasing apartment supply and growing state and federal measures likely to discourage foreign investors, who are the target of many of the inner-city high-rise projects.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can  <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3Cspan%20style=/'display:%20none;/'%3E');%20//--%3E%20%3C/script%3EThis%20email%20address%20is%20being%20protected%20from%20spambots.%20You%20need%20JavaScript%20enabled%20to%20view%20it.%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3C/');%20document.write('span%3E');%20//--%3E%20%3C/script%3E">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a>
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terryryder-YECXbqmri2

Melbourne's two dangerous residential markets

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A corner property with holding income and potential for further development in Melbourne’s Doncaster has changed hands for $4.2 million.
The properties at <a href="https://www.realcommercial.com.au/property-land+development-vic-doncaster-502224606" target="_blank">1094 Doncaster Road and 2 Elvie Street, Doncaster, Vic 3108</a> are tenanted and have inbuilt redevelopment clauses.
Estimated fully leased income from the properties is $89,523 per annum.
The properties have a land area of 1,380 square metres. 
They are surrounded by several approved and completed residential buildings, and close to transport and a Westfield mall. The zoning is Commercial 1.
The 1094 Doncaster Road property serves as an office building, while the one at 2 Elvie Street has been converted and used as a medical practice.
The selling agents were David Minty, Sandra Peluso and Chao Zhang of CBRE along with Ben Dawson of Dawson Real Estate.
<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/2017/03/17/Doncaster2.jpg" alt="">
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Doncaster offices sold for $4.2 million

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The North West region of Melbourne had the highest weekend auction clearance rate, according to CoreLogic’s latest report.
The property data firm says that out of the 74 auctions known to CoreLogic in the North West 89.2 percent were sold successfully.
This is followed by the North East with 83.9 percent and the Inner South with 76.6 percent.
<a href="https://www.propertyobserver.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%2012.21.26%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/20/Screen%20Shot%202017-03-20%20at%2012.21.26%20pm.jpg" alt="">
The South East region of Melbourne had the lowest auction clearance rate with only 73.6 percent of its auctions sold successfully.
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-vic-avondale+heights-124741902">2/10 Military Road</a>, Avondale Heights (above) was sold for $440,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-sunshine+north-124801790">10A Mansfield Avenue</a>, Sunshine North (below) was sold for $440,000.
<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/2017/03/20/10A%20Mansfield%20Avenue.jpg" alt="">
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