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.

<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/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

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

North Melbourne

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A getaway shack on a rock escarpment in the Tallarook ranges, just over an hour's north from Melbourne up the Hume Freeway, sold at its weekend onsite auction.
The rustic single room timber cabin, set on a 27 hectare holding, fetched $375,000, <a href="https://www.realestate.com.au/property-lifestyle-vic-tallarook-7983678" target="_blank">when offered through agents Pat Rice &amp; Hawkins</a>.
It was bought by a buyer from Toorak.
The cabin sits on a granite tors with a large timber deck.
It has its own portable toilet.
<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/2018/10/8/timber2.jpg" alt="">
The vendors have harvested rainwater and installed a portable solar system to provide the basic home comforts at the getaway.
The cabin structure was originally built by people with interests in the caravan industry so it is quite sturdy and easy to maintain, the agents advised.
It last sold at $105,000 in 2014.
The vacant block sold at $18,000 in 1992.
The vendors say 470 Ennis Road, Tallarook had been their ‘glamping’ destination offering seclusion, interesting local vegetation, with no shortage of firewood, plus some amazing wildlife.
Buyers were assured the location also provided good internet and television reception.
Set about 400 metres above the surroundings, there are views to the south and west firstly over the township of Broadford in the mid foreground and to the Macedon Ranges in the distance.
The vendors are off to a farm near Hamilton in the western district.
The marketing did not show the interior, with Bart O’Sullivan Pat Rice &amp; Hawkins expecting the auction offers would begin from $200,000.
 
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j.ballantyne1990-6AQqhLzZaK

Single room timber shack north of Melbourne sells at auction

<html><body>
A scooter hire company have signed a two year lease in North Melbourne.
The 100 square metre, ground floor 60 Lothian Street property will house the company at $30,000 per annum net, with two further two year options.
It has an office suite with a secure lock-up garage and rear access.
The deal was brokered by Teska Carson’s Fergus Evans and Luke Bisset. 
“With its location less than three kilometres from Melbourne’s CBD this part of North Melbourne has become very much sought after with increasing interest from boutique office and retail tenants,” Evans said.
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Scooter hire company sign North Melbourne tenancy

<html><body>
Property developer Riverlee has received development approval for its $450 million redevelopment of the Northbank Goods Shed and surrounding land.
The disused industrial waterfront site is to be rebuilt as a mixed use precinct, Seafarers Place.
The development plans are set to deliver a 3,500 sqm public park as well as work on the historic wharf and heritage-listed crane. 
<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/2018/8/14/Riverlee%202.jpg" alt="">
Seafarers Place will comprise 150 residences, a 5-star hotel with 280 rooms and a 1000-seat function centre, along with a host of retail amenities.
Fender Katsalidis have designed with project with landscape design by OCULUS.
The Northbank Goods Shed transformation will signify the last opportunity to live along the waterfront in Melbourne’s CBD, Riverlee’s development director David Lee said.
Wharf restoration works began in February and are expected to be completed in the coming months, while crane restoration works have commenced with construction slated for mid 2019.
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$450 million Seafarers Place redevelopment has been approved for Melbourne's Northbank wharf precinct

In stark contrast to our growing database of <a href="/news/top-20-sydney-suburbs-with-the-largest-development-pipeline">Sydney projects</a>, Melbourne's been in <a href="/">Apartments.com.au's</a> DNA for over five years.&nbsp; And what a difference it is with postcode 3000 (actually, the suburb name Melbourne, but you know what I mean) leading the pack among the top 20 suburbs across metropolitan Melbourne with the largest development pipeline.

Not to be outdone, <a href="/new-apartments/southbank-vic-3006">Southbank</a>, home to some of the largest skyscrapers (and proposals) in the city comes in second with a 5 figure number in its development pipeline and spilling over from Southbank, <a href="/new-apartments/south-melbourne-vic-3205">South Melbourne</a> takes the third top spot.

<a href="/new-apartments/box-hill-vic-3128">Box Hill</a> and <a href="/new-apartments/doncaster-vic-3108">Doncaster</a> are two suburbs in the top 10 which stand apart from the trend of much of inner Melbourne ruling the roost and <a href="/new-apartments/brunswick-vic-3056">Brunswick</a>, <a href="/new-apartments/moonee-ponds-vic-3039">Moonee Ponds</a>, <a href="/new-apartments/coburg-vic-3058">Coburg</a> in that inner-city to middle-ring transition area are present within the top 20.

In fact, beyond the top 20, there are many middle-ring Melbourne suburbs with over 1000 dwellings in the development pipeline including <a href="/new-apartments/carnegie-vic-3163">Carnegie</a> (1602), <a href="/new-apartments/essendon-vic-3040">Essendon</a> (1527), <a href="/new-apartments/north-melbourne-vic-3051">North Melbourne</a> (1407) and <a href="/new-apartments/maribyrnong-vic-3032">Maribyrnong</a> (1279).

For a while I've been saying both privately and publicly, <a href="/new-apartments/footscray-vic-3011">Footscray</a> is on the same level as <a href="/new-apartments/south-yarra-vic-3141">South Yarra</a> - similar distances from the centre of Melbourne and with the rail transport to match - and lo and behold Footscray is well ahead of South Yarra's pipeline numbers at this time.

<a href="/new-apartments/collingwood-vic-3066">Collingwood</a> (2668) outstrips <a href="/new-apartments/fitzroy-vic-3065">Fitzroy</a> (1169, ranked #35) by a long margin and <a href="/new-apartments/preston-vic-3072">Preston</a> (3369) is way out ahead of all the other suburbs on the High Street / South Morang corridor.

The monster numbers at the top can be explained that the suburb 'Melbourne' applies to St Kilda Road as well as the CBD, however when we look exclusively at postcode 3000, there are still over 18,000 dwellings in the pipeline.

The number of dwellings below are&nbsp;for all projects on the Apartments.com.au project database across all four main statuses - Planning Assessment, Approved, Registration &amp; Sales and Under Construction.

Click on a suburb name to view a summary of the development pipeline for each region.

<table border="1" cellpadding="1" cellspacing="1" style="width:100%;">
	<thead>
		<tr>
			<th scope="col">Rank</th>
			<th scope="col">Suburb</th>
			<th scope="col">Number of Dwellings</th>
		</tr>
	</thead>
	<tbody>
		<tr>
			<td>1</td>
			<td><a href="/developments/melbourne-vic">Melbourne</a></td>
			<td>20,035</td>
		</tr>
		<tr>
			<td>2</td>
			<td><a href="/developments/southbank-vic-3006">Southbank</a></td>
			<td>16,015</td>
		</tr>
		<tr>
			<td>3</td>
			<td><a href="/developments/south-melbourne-vic-3205">South Melbourne</a></td>
			<td>6573</td>
		</tr>
		<tr>
			<td>4</td>
			<td><a href="/developments/footscray-vic-3011">Footscray</a></td>
			<td>6526</td>
		</tr>
		<tr>
			<td>5</td>
			<td><a href="/developments/docklands-vic-3008">Docklands</a></td>
			<td>6276</td>
		</tr>
		<tr>
			<td>6</td>
			<td><a href="/developments/box-hill-vic-3128">Box Hill</a></td>
			<td>5645</td>
		</tr>
		<tr>
			<td>7</td>
			<td><a href="/developments/west-melbourne-vic-3003">West Melbourne</a></td>
			<td>4980</td>
		</tr>
		<tr>
			<td>8</td>
			<td><a href="/developments/richmond-vic-3121">Richmond</a></td>
			<td>4402</td>
		</tr>
		<tr>
			<td>9</td>
			<td><a href="/developments/south-yarra-vic-3141">South Yarra</a></td>
			<td>4124</td>
		</tr>
		<tr>
			<td>10</td>
			<td><a href="/developments/doncaster-vic-3108">Doncaster</a></td>
			<td>3808</td>
		</tr>
		<tr>
			<td>11</td>
			<td><a href="/developments/preston-vic-3072">Preston</a></td>
			<td>3369</td>
		</tr>
		<tr>
			<td>12</td>
			<td><a href="/developments/brunswick-vic-3056">Brunswick</a></td>
			<td>3044</td>
		</tr>
		<tr>
			<td>13</td>
			<td><a href="/developments/brunswick-east-vic-3057">Brunswick East</a></td>
			<td>2828</td>
		</tr>
		<tr>
			<td>14</td>
			<td><a href="/developments/north-melbourne-vic-3051">North Melbourne</a></td>
			<td>2793</td>
		</tr>
		<tr>
			<td>15</td>
			<td><a href="/developments/moonee-ponds-vic-3039">Moonee Ponds</a></td>
			<td>2749</td>
		</tr>
		<tr>
			<td>16</td>
			<td><a href="/developments/collingwood-vic-3066">Collingwood</a></td>
			<td>2668</td>
		</tr>
		<tr>
			<td>17</td>
			<td><a href="/developments/st-kilda-vic-3182">St Kilda</a></td>
			<td>2618</td>
		</tr>
		<tr>
			<td>18</td>
			<td><a href="/developments/port-melbourne-vic-3207">Port Melbourne</a></td>
			<td>2493</td>
		</tr>
		<tr>
			<td>19</td>
			<td><a href="/developments/coburg-vic-3058">Coburg</a></td>
			<td>1792</td>
		</tr>
		<tr>
			<td>20</td>
			<td><a href="/developments/hawthorn-east-vic-3123">Hawthorn East</a></td>
			<td>1757</td>
		</tr>
	</tbody>
</table>

Alastair Taylor

Top 20 Melbourne suburbs with the largest development pipeline

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Having worked on both the Initial Reference Design (IRD) and Reference Design (RD) for the Melbourne Metro Rail Tunnel during my years at Grimshaw, I have maintained an ongoing interest in the project from afar, as development plans for each station along the twin 9km tunnels are finessed and new renders are released.

The key theme for us when working on the Reference Designs of each station was "celebrating the engineering" and designing a series of components (or kit of parts) which could be upgraded over time as required or advancements in technology, rather than making wholesale changes to the architecture or aesthetics to respond to the design trend of the time.

This translated into a line-wide identity where concrete and steel structural elements were exposed for all to see and reflected the construction methodology and technologies employed. This reflected the design of metro stations around the world such as those in Copenhagen, Budapest, London etc.

The concept of a line-wide identity was further explored with platform and concourse levels generally consistent across the mined cavern stations  (CBD North and South) and again for the cut and cover station box stations (Arden, Parkville and Domain). Each station would then reflect its surrounding context as you ascended up towards street level, particularly at the upper concourse and station entries.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/parkville_platform.jpg" rel="gallery-all" title="Reference Design for Parkville's Platform level. Image: Grimshaw Architects"><img alt="" class="image-article-full-width-580px" height="266" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/parkville_platform.jpg?itok=Uvh06tdR" title="Reference Design for Parkville's Platform level. Image: Grimshaw Architects" width="580"></a>

<figcaption>Reference Design for Parkville's Platform level. Image: Grimshaw Architects</figcaption></figure>The latest round of renders, <a href="/news/melbourne-metros-finalised-station-designs-unveiled">which were released on Wednesda</a>y, carried with them a "Concept Image" watermark and based on my own experiences the likelihood is that the designs will continue to evolve and be refined to respond to the construction methodology and stakeholder feedback.

The team of architects, which comprises and is led by local (but global) firm HASSELL includes international offices Weston Williamson and Rogers Stirk Harbour who were brought in following Cross Yarra Partnership's successful bid for the stations. In a joint statement the design team describes the key drivers which influenced the station designs;

<blockquote>
Passenger experience has been at the heart of our design. The stations open up to fresh air and natural light and the underground spaces have a generous civic quality that will feel safe and intuitive to use.

But this project isn’t just about adding new stations, it actually creates five extraordinary new public buildings and transformative public places for Melbourne. Together these new places will add a brand new layer to Melbourne, amplifying and connecting to what makes our city one of the world’s most liveable.

We’re proud to be part of this project that will help shape the way the city works today, into the next century and beyond and we hope that Melbourne will grow to be proud of the new metro.

- HASSELL, Weston Williamson and Rogers Stirk Harbour and Partners 
</blockquote>

What has become clear that with the reduced construction programme and station completions being brought forward by a year that the designs of each station have had to respond accordingly. 

<h2>Anzac Station (formerly Domain Station)</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/anzac_station_ba.jpg" rel="gallery-all" title="Before &amp; After - L: Domain Station &amp; R: Anzac Station. Image: Rail Projects Victoria"><img alt="" class="image-article-full-width-580px" height="333" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/anzac_station_ba.jpg?itok=dPG6bCxM" title="Before &amp; After - L: Domain Station &amp; R: Anzac Station. Image: Rail Projects Victoria" width="580"></a>

<figcaption>Before &amp; After - L: Domain Station &amp; R: Anzac Station. Images: Rail Projects Victoria</figcaption></figure>"Anzac Station has been designed as a ‘pavilion in the park’ – an integrated public building and landmark that connects seamlessly with surrounding parklands."

Above ground the design has generally remained true to the first concept released, with the element of reality and practicality added to the pavilion's canopy, which previously almost appeared to float over the station entry at the tram interchange.

Dual entries either side of St Kilda Road within the Shrine gardens and Albert Road Reserve allow passengers to cross the stretch of road below ground, removing the conflict with vehicles.

Below ground based on the renders provided, it would appear the line-wide identity has become more consistent across the stations, with the site-specific coloured bands across the OTE plenums now the bronze finish prevalent throughout all the stations. Likewise, the structural elements are treated with minimum fuss or need for unnecessary ornament.

<h2>Town Hall Station (formerly CBD South Station)</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/town_hall_ba.jpg" rel="gallery-all" title="Before &amp; After - L: CBD South Station &amp; R: Town Hall Station. Image: Rail Projects Victoria"><img alt="" class="image-article-full-width-580px" height="362" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/town_hall_ba.jpg?itok=qahHMJp5" title="Before &amp; After - L: CBD South Station &amp; R: Town Hall Station. Image: Rail Projects Victoria" width="580"></a>

<figcaption>Before &amp; After - L: CBD South Station &amp; R: Town Hall Station. Images: Rail Projects Victoria</figcaption></figure>The first concept images for what was then CBD South Station featured a series of arches and vaulted spaces which were also reflected in some form at CBD North Station. The arches within the concourse area have since evolved into a forest of concrete structural branches supporting a web of beams set against a backdrop of solid and perforated metal panels.

At platform level, the vaults have been rationalised from a contoured fan vault into a more regular barrel vault, with bronze overlapping arches tacked on supporting the lighting and supported by large concrete columns, again reflecting the line-wide strategy, with some tweaking to reflect the cavern station construction. 

Above ground within Federation and City Square canopies over the entries reflect the respective locations with a lightweight  steel and glass structure at City Square and a more blade-like canopy at Fed Square drawing on the geometry of the architecture of the buildings there. Whether that is the final design is to be determined in light of the controversy surrounding Apple's potential move to the square and the architecture employed for its store.

Of particular note also, is the changing role of Flinders Lane in the precinct, which is slated to  "...become a shared street adjacent to City Square, with a raised surface to increase the scale of the square and link it to St Paul’s Cathedral and Chapter House Lane."

<h2>State Library Station (formerly CBD North)</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/state_library.jpg" rel="gallery-all" title="Before &amp; After - L: CBD North Station &amp; R: State Library Station. Image: Rail Projects Victoria"><img alt="" class="image-article-full-width-580px" height="364" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/state_library.jpg?itok=F-ma6EaL" title="Before &amp; After - L: CBD North Station &amp; R: State Library Station. Image: Rail Projects Victoria" width="580"></a>

<figcaption>Before &amp; After - L: CBD North Station &amp; R: State Library Station. Images: Rail Projects Victoria</figcaption></figure>The reflective iridescent arches within the main entry located on the corner of LaTrobe and Swanston Streets have been replaced with supersized concrete portal frames which span the full width of the entry save for the lobby and core areas set aside for the Over Site Development (OSD) which they will eventually support.

Once again the metallic panelling provides the surface treatment to the walls and soffits at street level. Glazing along LaTrobe Street provides the entry with light and visibility.

The platform level at State Library is essentially the same as at Town Hall Station.

According to the Metro Tunnel website "Existing laneways at Literature Lane and Stewart Street will be revitalised and extended to provide connections into the new station, opening up new walking routes and evenly distributing pedestrians around the precinct".  Swanston Street will be reconfigured to "enable widened footpaths, increasing space for pedestrians outside the new station and creating space for new trees to be planted."

It has not been confirmed whether the tiered amphitheatre entry at Franklin Street adjacent to RMIT has been retained in the latest round of designs - its origins tracing back to Reference Design. The southern footpath however, "will be widened to become a linear park with areas for socialising, outdoor dining, shade, gardens and public art." This forms part of a greater strategy to transform the street into a pedestrian promenade between Stewart and Victoria Streets. 

<h2>Parkville Station</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/parkville_ba.jpg" rel="gallery-all" title="Before &amp; After - L: Parkville Station &amp; R: Parkville Station. Images: Rail Projects Victoria"><img alt="" class="image-article-full-width-580px" height="358" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/parkville_ba.jpg?itok=STjtloNz" title="Before &amp; After - L: Parkville Station &amp; R: Parkville Station. Images: Rail Projects Victoria" width="580"></a>

<figcaption>Before &amp; After - L: Parkville Station &amp; R: Parkville Station. Images: Rail Projects Victoria</figcaption></figure>The construction of the station will see Grattan Street transformed into a ‘grand promenade,’ connecting some of Victoria’s most prominent institutions.

"The main station entry, on the northern side of Grattan Street outside the University of Melbourne, features a 50 metre long glass and steel canopy to draw natural light into the station concourse. The entrance has been designed to sit within the tree canopy to blend in with the surrounding environment. Natural light is also maximised in the concourse via light wells that allow light to penetrate from the surface to the station below."

The concourse level previously featured a ceiling comprising large staggered apertures of varying sizes allowing light into the station. These have since been rationalised and appear more as traditional skylight strips in response to the structural elements and construction of the station.

Down at platform level, Parkville features design features and finishes in keeping with North Melbourne and Anzac Stations.

<h2>North Melbourne Station (formerly Arden Station)</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/nth_melbourne.jpg" rel="gallery-all" title="Before &amp; After - L: Arden Station &amp; R: North Melbourne Station. Images: Rail Projects Victoria"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/nth_melbourne.jpg?itok=n4CqspkI" title="Before &amp; After - L: Arden Station &amp; R: North Melbourne Station. Images: Rail Projects Victoria" width="580"></a>

<figcaption>Before &amp; After - L: Arden Station &amp; R: North Melbourne Station. Images: Rail Projects Victoria</figcaption></figure>As the catalyst for the wider renewal of the Arden Precinct, the station design draws on the area's former industrial character and history with concrete and masonry forming the grand vaulted entry.

Earlier concepts also featured the use of brick throughout, with the cascading stairs down to platform level previously shown as being lined with brick paving.

The entrance will be raised 1.5m above ground level to respond to flooding.
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Laurence Dragomir

A closer look at the latest round of Melbourne Metro Station Designs

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Property developer Fridcorp, together with long-standing joint venture partner Daniel Besen and Wingate, has secured approval for its $65 million residential project in North Melbourne’s Arden Urban Renewal precinct.
Located at 3 and 5–15 Shiel Street, a nine level apartment tower will be built on a 1,310 sqm site.
It will comprise 90 one, two and three bedroom apartments, with 70 basement car parks and a residents-only rooftop terrace with views of the CBD skyline and Royal Park.
Melbourne architecture firm Elenberg Fraser have been commissioned to design the building and its interiors.
The site was purchased from Spec Property in early March 2016 for $7 million.
The project is scheduled to launch in September 2018, with construction expected to commence in the first quarter of 2019.
Paul Fridman, Fridcorp founder and director, says the company is pleased to receive planning approval for the Shiel Street project which will contribute to the urban renewal of the inner-city growth area.
“North Melbourne is a new market for Fridcorp but, together with Daniel Besen and Wingate, we saw an opportunity with the Victorian Planning Authority’s proposed Arden precinct to deliver quality medium-density housing in Melbourne’s inner-ring that will provide long-term investment potential and growth for owner-occupiers and investors.
 “Over the coming decades, the already thriving area will undergo significant urban regeneration and it is anticipated to be a base for 34,000 jobs and 15,000 residents by 2051 and medium-density housing is required to address the needs of this growing population.
"The VPA’s framework for Arden, including Diverse housing, a lively public realm, green spaces and improved connectivity with the new Arden Station, will help ensure the success of this new residential and commercial precinct which will become a thriving suburb on the footstep of the city.”
Led by the Victorian Planning Authority (VPA) on behalf of the Victorian Government, Arden is located on 55 hectares of land between Macaulay Road, Dryburgh Street and the Upfield Rail Corridor in North Melbourne, and will be a major new commercial and residential precinct.
Arden Station is being built as part of the Metro Tunnel and is due to open by 2026, making North Melbourne one stop from the CBD.
For more information click here.
 
 
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jonathanchancellor-7SQnKwU6yx

Daniel Besen partners with Fridcorp for North Melbourne apartment project

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Inner northern suburbs of Melbourne continue to perform well with strong results continuing at all price points, according to a recent Herron Todd White (HTW) report.
The property valuation firm says that detached dwellings continue to outperform units due to strong land values and proximity to amenities.
“Growth within the detached dwelling sector continues to outperform their unit counterparts driven by strong underlying land values, infrastructure and proximity to employment and amenities," HTW said.
“Outer northern suburbs of Craigieburn, Mickleham and Kalkallo are also considered to be performing well at all price points primarily driven by factors associated with affordability, infrastructure and population growth.
“These markets are considered to be tracking well with strong demand and relatively limited availability of new titled allotments being made available.
“We have noted however, that a substantial increase in supply could lead the market in a new direction.”
Herron Todd White warned that outer northern suburbs are at higher risk of being less popular if interest rates were to rise.
“Generally speaking, the outer northern suburbs would benefit most from an increase in infrastructure investment given the lack of pre-existing infrastructure to support the already growing population.
“Both the inner northern and outer northern suburbs would likely see a slow down if there was a significant change in lending criteria or interest rates.
“Outer northern suburbs however, are at higher risk of being impacted by a decrease in overall demand as they are more sensitive to rising rates.”
A five bedroom house at <a href="https://www.realestate.com.au/property-house-vic-craigieburn-125374198" target="_blank">69 Parkside Rise</a>, Craigieburn (above) has been listed for $850,000 to $935,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-kalkallo-125493798" target="_blank">4 Blayney Street</a>, Kalkallo (below) has been listed for $509,000.
<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/2017/05/19/4%20Blayney%20Street.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-craigieburn-125217394" target="_blank">55 Bowral Loop</a>, Craigieburn (below) was recently sold for $397,500.
<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/2017/05/19/55%20Bowral%20Loop.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-craigieburn-125159974" target="_blank">11 Black Range Avenue</a>, Craigieburn (below) was recently sold for $570,000.
<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/2017/05/19/11%20Black%20Range%20Avenue.jpg" alt="">
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Northern Melbourne residential market growing strong: HTW

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A historic cable tram shed and workshop in North Melbourne that has been converted into a family home has been sold for $6.5 million.
It was bought three years ago for $3.35 million by car collector Chris Page because he wanted to grow his car collection.
He and his family moved from their Carlton home and renovated the historic 1918 building which had previously sold in 1978 at $155,000.
It is now a vast five bedroom home with a big garage downstairs as well as a street-facing mechanic business.
Page hoped that another like-minded car lovers will secure the property which was also advertised as a development site.
His hopes came true, as the buyer is a fellow car enthusiast who has a car collection.
The property first began as a cable tram shed in the 1920s before being converted into a tramways administration office and then finally into a Mediterranean grocer before being converted into the current home.
The reported pre-auction price indications were $5.5 million for the property that includes the mechanic business space.
The business owner would be happy to stay if the new owner wishes.
The property was offered through Jellis Craig agents John Morello and Simon Mason.
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jchancellor-FAypfDUnLy

Historic North Melbourne cable tram shed conversion sold

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Inner city suburbs such as Port Melbourne, St Kilda, South Yarra, Richmond, Carlton and Fitzroy are worth watching to see if they maintain the capital growth shown over the past few years, according to HTW's February 2017 update.
The valuation firm says that, in particular, established apartments offering functional floor plans and superior living areas are expected to grow due to their attractiveness compared to new off the plan stock.
With the continuing development of large apartment complexes outside the Melbourne CBD, these apartments are usually marketed for lower than off the plan apartments and often provide a superior product, the report says.
“The Melbourne apartment market however is one that should be treated with caution as the threat of oversupply looms large, with the RBA warning that the rush of apartments scheduled for completion in the next couple of years will constrain price growth and also impact rents,” HTW says.
“There is also the increased risk of off the plan apartments not settling upon completion.”
The firm says the inner north western apartment market should be treated with caution due to the large amount of supply particularly in the suburbs of North Melbourne, West Melbourne, Travancore and Parkville. This concern may be contributing to softening values.
At the average price of $950,000 an investor can purchase a house such as the one at <a href="https://www.realestate.com.au/sold/property-house-vic-north+melbourne-123638770" target="_blank">44 Bryon Street</a>, North Melbourne (above) that was sold for $990,000.
Similarly at the average price of $521,000 an investor can purchase a unit such as the one at <a href="https://www.realestate.com.au/property-apartment-vic-north+melbourne-124513242" target="_blank">307/139 Chetwynd Street</a>, North Melbourne (below) that is available for $520,000.
<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/2017/02/16/307_139%20Chetwynd%20Street.jpg" alt="">
“While North Melbourne had unit capital growth of 5.2%, there was negative capital growth in unit prices in West Melbourne of -19% (Core Logic, 2017).
It will be interesting to watch the performance of this submarket over the year ahead as more supply is released on to the market.”
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Inner Melbourne buyers ditching off the plan for established units: HTW

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A historic cable tram shed and workshop in North Melbourne that has been converted into a family home remains for sale.
There had been a scheduled pre-Christmas auction marketing campaign that did not yield a buyer.
It was bought three years ago for $3.35 million by car collector Chris Page because he wanted to grow his car collection.
He and his family moved from their Carlton home and renovated <a href="https://www.realestate.com.au/property-house-vic-north+melbourne-124078490" target="_blank">the historic 1918 building</a> which had previously sold in 1978 at $155,000.
It is a vast five bedroom home with a big garage downstairs as well as a street-facing mechanic business.
<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/2016/12/22/North%20Melbourne-2.jpg" alt="">
Page still hopes that another like-minded car enthusiast will secure the property which was also advertised as <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-north+melbourne-502177718" target="_blank">a development site</a>.
The property first began as a cable tram shed in the 1920s before being converted into a tramways administration office and then finally into a Mediterranean grocer before being converted into the current home.
The reported pre-auction price indications were $5.5 million for the property that includes the mechanic business space.
The business owner would be happy to stay if the new owner wishes.
<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/2016/12/22/North%20Melbourne-3.jpg" alt="">
The property is offered through Jellis Craig agents John Morello and Simon Mason.
A neighbouring office building on a 500 square metre block at 16 Howard Street sold earlier this year at $4.4 million.
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