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

residential

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Where would you park a lazy half million dollars in the South West of Western Australia? Property valuation firm Herron Todd White explores the options in its July 2016 residential market report. 
A good option for medium to long-term capital growth in the south west is along the coastal strip on the northern side of Bussell Highway traversing the suburbs of Busselton, West Busselton, Broadwater and Abbey. This coastal strip is nearly 500 metres in width and runs for approximately 10 kilometres along the Geographe Bay. 
“As the City of Busselton continues to grow at a strong rate, this well located section of land will continue to grow in desirability and affluence as the urban sprawl continues to be pushed further away from the coast line,” says the HTW report. 
“This consequently will result in good capital growth over the medium to long term as an increase in population will lead to stronger demand for product that has limited scope to increase in supply. As such this well positioned and limited coastal strip would represent a good option for a prospective purchaser looking to invest $500,000.”
Entry point into this market is $500,000, which would secure a very basic residence with the vast majority of the value being in the land. While the rental return of the investment would be weak, purchasing within this coastal strip would provide a strong opportunity for capital growth over the medium to long term. 
Moving 50 kilometres north from the City of Busselton lands the prospective purchaser in Bunbury. Throughout South Bunbury and East Bunbury there have recently been some zoning changes which are encouraging higher development within these areas. Properties of 700 to 900 square metres which were previously single residential now have duplex or triplex potential. As these zoning changes are introduced, now would be a good opportunity to invest $500,000 for medium to long-term capital growth. 
A third option would be to invest in Dunsborough which is a very well sought after and renowned coastal town positioned in the south west. Dunsborough is located within Geographe Bay and attracts a higher number of tourists given its beaches and proximity to the world renowned Margaret River wine region. 
More specifically we see the coastal strip that runs from north of Caves Road to the beach as being a good area to invest. Generally this pocket has residential dwellings positioned on good sized lots of 800 square metres and above and located in very close proximity of the ocean, stimulating demand. Entry point for this market is $500,000 which would secure a very basic residence with the vast majority of the value being in the underlying land. 
“If these properties were to be purchased with a view to being held for the long term, good capital growth could be expected as the area historically has performed well,” say HTW.
The costal strip in the City of Busselton, Dunsborough and development sites within South and East Bunbury are just a number of options among many opportunities within the south west to invest $500,000. 
As a case in point, Property Observer found a three-bedroom house at <a href="https://www.realestate.com.au/property-house-wa-busselton-121367426" target="_blank">41 Brown Street, Busselton, WA 6280</a> that recently sold for $440,000.
 
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$500,000 in South West WA buys you a three-bedroom place, long-term growth: HTW

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Stockland has lodged a Development Application with Cumberland Council for a mixed use residential apartment and retail development in Merrylands, western Sydney. 
The DA includes plans for more than 500 new apartments, designed by Turner Architects, across five buildings that will range in height from 11 to 17 storeys.
Gavin Tonnet, national head of apartments and mixed use development at Stockland, said it will provide the vital missing link between Merrylands Road and McFarlane Street. 
Andrew Whitson, chief executive officer, residential at Stockland, said Stockland is broadening customer reach through the development of new townhouses and apartments, with an initial focus on opportunities on sites in the existing portfolio.
"By expanding our Residential business strategy to incorporate more medium density and apartment projects within our greenfield communities and at standalone sites, where we’re driving the urban renewal process, we’re able to diversify our earnings and be more responsive to the changing demands of the residential property market,” he said.
The new development will be adjacent Stockland Merrylands Shopping Centre, which was redeveloped and expanded in recent years at a total cost of $395 million. 
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po-LsXgBTHBmX

Stockland lodges DA for Merrylands development

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As I finalise the Project Analysis on one of our last development projects for 2016, I've realised we've broken our equity creation record for a dual occupancy project.
We've manufactured just under $200,000 in equity within a year which represents an 18% return on investment (ROI). 
This wonderful client is now onto his third project with Property Bloom and so I'm very happy we've been able to deliver this amazing result for him, it's a fabulous Christmas present for our client but also for us. 
This was one of those projects where financially, things just went right. We started with a build estimate and with every update of our builder's tender the project costs dropped. We ended up with an actual construction cost of just under $40,000 less than we'd originally estimated. This includes Torrens title subdivision costs so that our client ends up with two x three bedroom dwellings each on their own title. 
We secured the development site in Newcastle in an estate that ticked all our  'great location' boxes. It has a high proportion of owner occupiers, strong sales and rental demand, community facilities including primary and high school, sporting fields, bike paths, picnic areas, children's parks and close to the local shopping centre and on the bus route. The location also allows quick drive time into the CBD and onto the major arterial roads.
We were able to prepare plans and other documentation required for the Development Application (DA) quickly and have it lodged with Newcastle City Council even before our client settled on the land. This saved on holding costs. However, the DA processing time was disappointing. It took 16 weeks, although I have to add this included Christmas, so you could say 14 weeks. Still, this is a long time. Our best DA processing time with the same council is two weeks. It all comes down to the town planner we are allocated and how efficient they are.  
The construction time was five months from the site cut date to Handover of a full turnkey product. Again, we've done better but I was happy with this result considering there is a shortage of building trades right now in the Hunter. 
Of course there was a few unexpected hiccups, like two windows that needed to be replaced after the internal linings were finished, we realised they were not centered in the area we wanted them to be. Our builder quickly had them replaced. But this didn't delay the project, just added some extra work for the builder. 
Our client will enjoy strong depreciation benefits from his new properties and a 6.5% gross yield. 
As we move closer to closing the door on 2015, it's nice to finish the year on a high. We'll be back for more fun and games in 2016. I hope you've enjoyed our stories this year, wishing all our readers and the wonderful people at Property Observer  a safe, relaxing and happy Christmas.  May 2016 bring you much joy and happiness, and a maybe a shiny new property development!
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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Finishing the year with a bang: Jo Chivers

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A Pyrmont site has been sold for $22.4 million with potential for development into approximately 50 residential apartments.
Government Property NSW has sold the 1,846sqm site at <a href="https://www.realcommercial.com.au/property-land+development-nsw-pyrmont-501551663" target="_blank">108 Miller Street, Pyrmont</a> to real estate developer, Thirdi Group.
Savills selling agent Stuart Cox said this site combined a remarkable location with exceptional potential for luxury residential apartments which attracted a multitude of enquiries from local and international developers.
“With a current median unit price of $950,000 in Pyrmont and the preference for inner city apartment living prices are expected to achieve over $18,000/sq m of NSA,” he said.
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Pyrmont site sold for $22.4 million

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Building of St Kilda's new 19 level teadrop-shaped residential building Opera will commence in early 2016, with completion anticipated in 2018. 
Designed by local architects Bates Smart, the $190 million building at <a href="https://www.realestate.com.au/project-opera-vic-melbourne-600008629" target="_blank">450 St Kilda Road</a> will include 228 one, two and three bedroom apartments. One bedrooms have one car space and the two and three bedders get two each.
Some three and four bedroom apartments, ranging from $1.12 to $2.7 million for a three bedroom and $3.1 to $4.88 million for a penthouse or sub-penthouse have already been sold.
The glass curved design requires double curved glazing panels to be installed on site – a process known as cold bending – the first of its type in Australia.
 
 
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St Kilda's Opera residential development to start 2016

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Two homeowners in Glen Iris are the latest example of residential vendors in Melbourne’s suburbs teaming up to sell their properties to a residential property developer.
Colliers International sold two neighbouring properties at 1520 High Street and 65 Erica Avenue in Glen Iris as a 830 square metre residential development site for $3.4 million. 
The campaign received with over 105 enquiries, selling 24 hours after the EOI period closed, at a record land rate for the area of $4,096/sqm.
Both owners received approximately 30% more through the process of selling to a developer than they would have done had they sold their houses individually, agent Ben Baines said.
“The practice is becoming increasingly common following residential zoning reforms which were gazetted in July last year.”
Ben Baines said agents were seeing an increase in activity from Asian buyers in Melbourne’s metropolitan market as this buyer group began to look outside the CBD. He said around 70% of enquiries for this kind of property with development potential was now coming from offshore groups.
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Glen Iris neighbours secure record residential development site price

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The ABS quarterly survey “Building Activity” provides detail on the non-residential building sector. Here we reassess conditions and prospects for the sector, with a greater focus on the private segment, which accounts for 78% of activity. Hereafter ‘building’ refers to ‘non-residential building’.
In summary, the strengthening of private building activity in recent years will be punctuated in 2015 by a relatively modest downturn. Approvals took a step lower in 2014, but have stabilised more recently, with falls in offices, retail and industrial, following a wave of projects and against the backdrop of mixed domestic demand conditions. The looming near-term slowing of building activity will be uneven, with declines greater in the mining states of WA and Qld, where the spill-over effects of the mining investment downturn will be most felt.
Activity: Total building activity advanced by 1.3% in the March quarter, to be 0.7% above the level of a year ago.
Private building activity has been in an upward trend for four years, with gains as follows: +9.9%yr in March 2012; +2.7%yr in March 2013; +3.8% in March 2014; and +9.6%yr in March 2015.
In the March quarter, private work expanded by 3.5%. This rise was supported by the sizeable work pipeline and was despite the recent softening of commencements. Activity is unlikely to be sustained at the current $6.9bn per quarter, which is 12% above the level of commencements.
Public works have eased back to more normal levels in the aftermath of the Federal Government’s 2009/10 fiscal stimulus package. In the March quarter, public works declined by 5.5% to be 22% lower than a year ago.
Total commencements were valued at $7.4bn in the March quarter, continuing the softer tone evident since the second half of 2014.
Private commencements were $6.1bn in the quarter. If there is a similar outcome in the June quarter, then commencements for the 2014/15 financial year will be down 16% on 2013/14. That is broadly in line with the weakening of approvals, which in the six months to May 2015 were 18% lower than at the start of 2014. 
The sizeable pipeline of work outstanding is being gradually reduced. For the private sector, the pipeline declined by $1bn over the past year, to $18.3bn, as work progressed on office, retail, health and industrial projects - partially offset by a lift in the pipeline for social infrastructure, such as entertainment. 
The pipeline of work for public works is currently $4.9bn, down from $6.6bn a year ago.
<a href="/images/2015/07/23/Screen%20Shot%202015-07-23%20at%2012.47.12%20PM.png" target="_blank">Click to enlarge</a>
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Andrew Hanlan is senior economist for Westpac and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/andrew-hanlan/3/222/430" target="_blank">here</a>. 
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Australia's non-residential building sector 2015 Q1: Andrew Hanlan

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The list of the 10 top residential sales across Australia compiled by CoreLogic RP Data over the past week features half from Melbourne, with two from Kew.
<a href="https://www.realestate.com.au/property-house-qld-sunnybank+hills-119891353" target="_blank">But a Queensland sale</a> tops the list. It was an an unusually striking long lowest home that was sold as a development site.
The deceased estate listing was a 10,472 sqm holding in this popular south side suburb. 
 
1. 81 Pinelands Road, Sunnybank Hills, QLD, 4109, four-bedroom house, sold on June 24 by L J Hooker Sunnybank Hills for $5.8 million
2. 126 Sackville Street, Kew, VIC, 3101, six-bedroom house, sold at auction on June 27 by Rt Edgar Boroondara for $5.56 million
3. 20 Studley Avenue, Kew, VIC, 3101, five-bedroom house, sold on June 27 by Ray White Glen Waverley for $4.58 million
4. 9 Smythe Avenue, Mont Albert, VIC, 3127, five-bedroom house, sold on June 23 by Jellis Craig Real Estate Hawthorn for $4.3 million
5. 21 Iluka Road, Mosman, NSW, 2088, four-bedroom house, sold prior to auction on June 27 by Century 21 Mosman for $4.07 million
6. 5/37 Hastings Street, Noosa Heads, QLD, 4567, three-bedroom unit, sold on June 23 by Richardson &amp; Wrench Noosa Heads for $3.9 million
7. 6 Tryon Street, Chatswood, NSW, 2067, five-bedroom house, sold at auction on June 27 by Shead Property Chatswood for $3.87 million
8. 92 Carrington Road, Wahroonga, NSW, 2076, six-bedroom house, sold at auction on June 27 by Ray White Gordon/St Ives for $3.675 million
9. 2 Terama Court, Glen Waverley, VIC, 3150, five-bedroom house, sold at auction on June 27 by Jrw Property International Glen Waverley for $3.625 million
10. 1A Monomeath Avenue, Canterbury, VIC, 3126, four-bedroom house, sold at auction on June 27 by RT Edgar Boroondara for $3.5 million
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Sunnybank Hills top sale for the week

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A report has found land values in the Gold Coast region have seen strong growth with Mermaid Waters, Mermaid Beach and Broadbeach Waters all seeing an increase in land values from between 25% to 30% through June 2015.
According to the Herron Todd White June 2015 update, official land values on the Gold Coast are reported to have increased by 10.7% over the past year, marking an upward swing in the local property market with prices "well off the bottom across all residential property categories".
The report cited the recent resale of 145 Allambi Avenue, Broadbeach Waters for $1,015,000 which sold for $760,000 in August 2013, with no additional improvements to the property made.
According to its data, purchasers still favour the sub $500,000 price bracket which accounts for 71.5% of transactions, compared to 23.5% for $500,000 to $1 million and 5% over $1 million. 
The HTW report noted the Gold Coast was one of the hardest hit regions of Australia following the GFC, with mortgagee in possession sale rates running above 6%. 
"However, that all seems to be well behind us now as the property market has recovered and turned upwards.
"Prices are well off the bottom across all residential property categories."
It nominated six reasons underpinning the recovery in positive economic changes driving the property market on the Gold Coast:
• Increasing population. Current Gold Coast population is now at 535,000 (source: Gold Coast City Council web site) with projections of a population of circa 680,000 by 2021 (source: Queensland Office of Economy and Statistical Research Population Prediction Report dated 2011).
• Tourism is back stimulated by the lower Australian dollar and strengthened by new international flights direct to China and other parts of Asia.
• Increase in building development and infrastructure projects.
• Increase in number of new homes being built and apparent increase in number of substantial renovations of dwellings.
• Increased international investors including the very influential and growing Chinese investment market and cashed up Auckland based Kiwis.
• Increased interstate buyers with many cashed up investors from the very buoyant Melbourne and Sydney markets.
• Predictions of improving employment in the tourism sector and also boosted by the impending 2018 Commonwealth Games. 
 
<a href="/images/2015/06/26/gc1.jpg" target="_blank">Click to enlarge</a>
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The prestige market was on the improve with overseas investors, locals and those from interstate preferring waterfront property and the limited luxury units are on the market.
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 Examples of sales in 2015 include: 
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HTW notes strong growth in Gold Coast land values

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There are 2,050 capital city auctions expected across the capital cities this week, similar to the number held last week (2,076) when the final auction clearance rate was recorded at 75.9%, the softest result across the combined capital cities since March this year. At the same time last year, 2,040 residential auctions were held and the clearance rate over the week was recorded at 65.4%.
Melbourne is expecting 959 auctions this week, an increase from 947 last week and higher than the 946 at the same time last year. Last week, Melbourne’s final auction clearance rate was recorded at 77.7%, which is much higher than one year ago (69.1%), however it is the lowest clearance rate for the city in 9 weeks.
This week, there are 799 Sydney homes scheduled for auction, compared to 816 last week and 785 over the previous week. Sydney’s clearance rate was down last week, from 88.7% the previous week to 83.4%, while in comparison, the clearance rate for the city last year was 70.1%. Sydney’s year to date clearance rate is 84.9%, while over the same period last year, the clearance rate for the city was tracking at 75.0%. On the other hand, auction volumes this year are slightly lower than they were last year.
Across Brisbane, CoreLogic RP Data is currently expecting 114 auctions this week, compared with 135 last week and 141 last year. Brisbane’s clearance rate last week was 45.5 per cent, while one year ago, 32.2% of homes taken to auction were sold.
There are currently 76 Adelaide homes scheduled for auction this week, slightly lower than the 87 last week and tracking at a similar level as the same time last year when 74 auctions were held across the city. Adelaide’s clearance rate last week was 58.7%, having fallen from 71.2% the previous week.
Canberra has 51 scheduled auctions this week, compared to 53 last week and 35 at the same time last year.
Across Perth, 40 homes are set for auction over the current week, increasing from 32 last week and slightly lower than one year ago (45).
Across Australia’s individual suburbs, the highest volume of auctions this week will be held in Balwyn North, Glen Waverley and Richmond (Vic).
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