Preliminary data by research giant Charter Keck Cramer reveals a 54 per cent decline in Build to Sell apartments across Australia's capital cities, while the Build to Rent boom continues with a 378 per cent increase over the last five years.

Charter Keck Cramer's upcoming National State of the Market Report - Key Metropolitan Areas, scheduled for release in September, will reveal&nbsp;a dramatic transformation in apartment supply patterns across Australia's capital cities between FY2016-2020 and FY2021-2025.

The Build to Sell (BTS) apartment sector has experienced a substantial contraction, with total supply falling by 54 per cent compared to the previous five-year period. The decline represents a reduction of 149,200 apartments across all capital cities.

<img alt="BTS Charter Keck Cramer" data-entity-type="file" data-entity-uuid="3db2ddf3-e7c0-481f-b8b9-63efb365cb80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-20%20at%2011.26.34%E2%80%AFAM.png?VersionId=bsQl8inhZA7FeiPamnGvw1tse0obBdSd" />

Sydney led the downturn with a decrease of 73,600 apartments, followed by Melbourne (-42,800) and Brisbane (-26,800). Perth and Adelaide also recorded significant declines of 6,400 and 2,400 apartments respectively. Only Gold Coast and Canberra bucked the trend, with modest increases of 500 and 2,300 apartments.

In stark contrast, the Build to Rent (BTR) sector has emerged as a major force in the apartment market, recording a remarkable 378% increase in supply. This growth added 8,590 apartments across the capital cities during FY2021-2025. Melbourne dominated BTR growth with 6,160 additional apartments, while Sydney contributed 2,100 units. Brisbane and Canberra also recorded growth of 800 and 330 apartments respectively. Gold Coast and Perth recorded minor declines, while Adelaide maintained steady levels.

<img alt="BTR CKC" data-entity-type="file" data-entity-uuid="ca13ffd4-ab93-4828-afd2-4c3dccbd2b51" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-20%20at%2011.28.54%E2%80%AFAM.png?VersionId=SXNnpcJuFD36ViWOwF6izBBqcQc3NWao" />

“These preliminary findings indicate a fundamental shift in Australia's apartment development landscape, with traditional Build to Sell models giving way to institutional Build to Rent developments,” said Richard Temlett, Charter Keck Cramer’s National Executive Director of Research.

"This transition reflects changing investor preferences, regulatory environments and housing affordability challenges across major metropolitan areas.”

The complete Charter Keck Cramer National State of the Market Report – Key Metropolitan Areas will provide comprehensive analysis of these trends, their underlying drivers and implications for developers, investors and policymakers when released in September.

Joel Robinson

Build to Sell apartment supply drops 54% in five years across Australian capital cities

Verso Development Group is seeking to bring over 1,100 apartments to the heart of Brisbane's Toowong, with plans filed for a $1 billion, triple tower development known as Toowong Central.

The landmark urban regeneration project "aims to reshape the core of Brisbane’s inner-west riverside suburb."

Covering over 1.4-hectares across&nbsp;Sherwood Road, High Street, and Jephson Street, Toowong Central has been designed by KHA and will comprise three towers rising 49, 55, and 58 levels.

<img alt="Toowong Central" data-entity-type="file" data-entity-uuid="48611e3d-7123-4b99-b2cb-bfa4bc98024f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenities.png?VersionId=yKBexB.BgCkq4OET8fHDkWs0d3DjxOKJ" />

According to the Urban Context Report prepared by Urbis, Toowong Central is positioned as a “city-defining precinct reclaiming Toowong as ‘the best destination in the west’,” with a vision to deliver density differently, strengthen Toowong’s identity, and lead subtropical urban design.

There will be a wide range of apartment configurations, from one-bedrooms to five-bedroom penthouses, as well as short-term accomodation offerings. The design prioritises pedestrian permeability, with an activated public realm featuring a central civic plaza, laneways, and street-level retail and dining.

“The central square’s structure, programming, scale and location creates a social anchor - shaped by its edges, flexible for use, and animated by a diversity of experiences throughout the day and into the evening,” the Urban Context Report noted, reinforcing the project's ambition to become a vibrant community destination.

Design excellence was pursued through an international design competition, attracting entries from renowned practices such as UNStudio and BIG. KHA’s winning design distinguished itself with a ceremonial approach to the public realm, integrating terraces, tiered seating, and green infrastructure to promote social interaction and resilience.

The development builds upon two existing approvals: the 25- and 20-storey towers of the Aviary Toowong proposal, and a separate 25- and 24-storey approval at 88 Jephson Street. Consolidation of these fragmented landholdings under a precinct-wide approach allows for increased community value and cohesive urban integration.

Urbis Director Nicholas Stevenson said Toowong Central will bridge the gap in Toowong's current experience, unlocking the potential of the wider precinct.

"Overcoming experiential constraints and leveraging contextual advantages – Toowong Central will redefine Brisbane's inner west.”

<img alt="Toowong Central" data-entity-type="file" data-entity-uuid="73f7a702-625d-452d-9df2-30a0863ac1e8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/master.png?VersionId=TZdh6wxGC_8IIroXpdkZfuhlS8mFZnea" />

Toowong Central’s ambition extends beyond residential and commercial outcomes. Uses under consideration include a world-class hotel, university facilities, a museum, and health and wellness services, reflecting its role as a western gateway to Brisbane’s growing innovation corridor between the CBD and the University of Queensland.

Urbis Managing Partner James Tuma said Brisbane has no greater opportunity to showcase the future of urban living than Toowong – a sustainable, economically vibrant, and people-centric place that embodies the best of Brisbane.

[The plans] gives us a glimpse into our future as a globally relevant, youthful, entrepreneurial, and distinctly subtropical city.”

$1 billion Toowong Central to deliver 1,100 apartments to undersupplied Brisbane market

In <a href="https://www.apartments.com.au/developments/runaway-bay-qld-4216">Runaway Bay</a>, new townhouse-scale waterfront residences are rare - but ones built to the standards found on Sovereign Island are almost unheard of.

<a href="https://www.apartments.com.au/new-townhouses/ocean-suites-on-jennifer-10-12-jennifer-avenue-runaway-bay-qld-4216">Ocean Suites on Jennifer</a>&nbsp;changes that, delivering a calibre of construction and detailing that places its seven villas well above the typical market offering in this northern Gold Coast pocket.

Ocean Suites on Jennifer will be move-in ready before Christmas this year, giving buyers the chance to spend the summer on the water in one of Runaway Bay’s rare new waterfront residences.&nbsp;

[smartcode_project:default project_id=138718 project_image_fid=214444]

The development is a collaboration between <a href="https://www.apartments.com.au/architects/stuart-osman">Stuart Osman Design</a> and <a href="https://www.apartments.com.au/developers/sand-side-developments">Sand Side Developments</a>, with construction by <a href="https://www.apartments.com.au/builders/alroe-constructions">Alroe Constructions</a>.

Architect Stuart Osman says the intent from the outset was to create a home people would be drawn to. “When you build anything, the design is to make you want to go hang out in this house,” he says.&nbsp;

Ocean Suites on Jennifer’s design features a front façade softened with planter boxes, rear pool areas, and rooftop decks looking over the water.&nbsp;

Inside, voids and high skylights bring daylight deep into the centre of each home, while ceiling heights of 2.85 metres maintain a strong sense of volume.

Each four-level residence spans 345 to 388 sqm, with layouts accommodating multi-generational living - a ground-floor bedroom suite for older family members and upper levels for the rest of the household. A lift connects all floors.

[smartcode_project:default project_id=138718 project_image_fid=214435]

For Andrew Erwin, Director at NPA, the project’s appeal lies in both its location and the detail in execution.&nbsp;

"At Ocean Suites, you’ve got a canal-front setting with direct Broadwater access and a level of finish you’d normally only see in the city’s most prestigious addresses. The four-level layouts, the glass-framed living areas, the private pools, even the extended kitchens, every part of it has been designed with the buyer in mind,” he says.

Those buyers have so far been a mix of Gold Coast locals and interstate purchasers, many seeking a lock-up-and-leave holiday home or a downsized residence without sacrificing space for visiting family.&nbsp;

Older households with teenage children are a recurring profile, drawn to layouts that support multi-generational living and the ability to host extended stays.

[smartcode_project:default project_id=138718 project_image_fid=214432]

Material selection reinforces the project’s quality-first ethos, with every home appointed to a premium standard. Kitchens and ensuites feature engineered stone surfaces, complemented by prestige oak engineered timber floors, Victorian ash hardwood staircases, and soft loop-pile carpet.

Premium lighting, statement pendants, ceiling fans, and Fujitsu ducted air conditioning elevate both comfort and design. Each residence also includes a suite of high-end appliances as standard - Fisher &amp; Paykel integrated fridges, Bosch ovens, induction cooktops and dishwashers, Vintec wine fridges, and Franke sinks.

Beyond the interiors, residents enjoy an enviable lifestyle with rooftop terraces, private plunge pools, fire pit areas, outdoor showers, smart home automation, laundry chutes, and private pontoons.

[smartcode_project:default project_id=138718 project_image_fid=214452]

With no additional upgrade costs, Sand Side Developments underscores its no-shortcuts approach, delivering homes where luxury and amenity come as standard.

Osman adds that the kitchen has been designed as “the main hub of the house” with six metres high skylights above a galley-style layout that “makes it feel bigger, brighter, whiter” and “brings light into the centre of the home.”

Both architect and builder emphasise a shared commitment to delivering the intended design without compromise. “Working with Alroe’s structural team and their construction team, it’s been great to make sure that the look and feel that was originally intended is the result achieved at the end of the project,” Osman says.&nbsp;

[smartcode_project:default project_id=138718 project_image_fid=214453]

Outdoor living has been given equal consideration, with rooftop terraces designed for entertaining with a fire pit and bar, and spacious undercover patios featuring private plunge pools.

The marine access is as carefully executed as the homes themselves. An eight-metre gangway leads to a six-metre private pontoon capable of mooring vessels up to 30 feet, just 300 metres by water from the Broadwater.&nbsp;

Even the orientation of each villa has been optimised to capture long views down the canal, across the Broadwater, and south to Main Beach.

With construction in its final stages, just three of the seven villas remain, priced from $3.365 million to $3.695 million.

[smartcode_project_cta:default project_id=138718]

Sovereign Island standards come to Runaway Bay with Ocean Suites on Jennifer

Without local developer <a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a>, it could be argued that the small suburb of <a href="https://www.apartments.com.au/developments/nundah-qld-4012">Nundah</a> would be left behind when it comes to both new housing and retail opportunities.

Gardner Vaughan, one of South East Queensland’s most reputable builder-developers, has been based in <a href="https://www.apartments.com.au/developments/nundah-qld-4012">Nundah</a> for the last decade. They plan to maintain their presence in the northern <a href="https://www.apartments.com.au/developments/brisbane-qld">Brisbane</a> suburb, just seven kilometres from Brisbane Airport and nine kilometres from the city, with the development of <a href="https://www.apartments.com.au/new-apartments/danby-lane-nundah-village-5-danby-lane-nundah-qld-4012">Danby Lane</a>, the first major project in several years in the heart of the town centre.

GVG will retain one of the commercial spaces in the new mixed-use building for their office headquarters. It will be located in the commercial podium, alongside several other new office spaces. Below will be a street-level retail precinct designed to reinvigorate the local economy, and above, 84 brand-new apartments.

[smartcode_project:default project_id=112531 project_image_fid=320114]

Over 60 percent of the apartments have already been snapped up, with buyers eager to secure one of the rare new apartments in <a href="https://www.apartments.com.au/developments/nundah-qld-4012">Nundah</a>, as well as to benefit from Gardner Vaughan’s solid reputation and long-standing presence in the local community.

[smartcode_project:default project_id=112531 project_image_fid=320117]

Gardner Vaughan identified the site at the corner of Buckland Road and Danby Lane for its proximity to key amenities. Within 400 metres of the development, <a href="https://www.apartments.com.au/developments/nundah-qld-4012">Nundah</a> Village offers a variety of cafes, restaurants, and pubs. <a href="https://www.apartments.com.au/developments/nundah-qld-4012">Nundah</a> Train Station, just 400 metres away, provides a quick 20-minute train ride into Roma Street.

The development has also attracted young families, drawn to the proximity of not one, but twelve parks, with Boyd Park and Oxenham Park being the most notable. Established families have shown interest due to the close proximity of <a href="https://www.apartments.com.au/developments/nundah-qld-4012">Nundah</a> State School and Mary MacKillop College.

The one- and two-bedroom apartments in the building have already been snapped up, while the larger three- and four-bedroom apartments—ranging from a generous 117 sqm to nearly 200 sqm—remain highly sought after. There are also just three exclusive luxury penthouses left to sell.

With its in-house construction capability, Gardner Vaughan has already commenced construction on-site and expects to complete the building by March 2027. It's hard to see another opportunity to buy brand new in <a href="https://www.apartments.com.au/developments/nundah-qld-4012">Nundah</a>, where creating a site anywhere near the scale of the Danby Lane is becoming more and more difficult.

[smartcode_project_cta:default project_id=112531]

Why Danby Lane is the focal point for change in Brisbane's Nundah

<a href="https://www.apartments.com.au/developers/metro-property-group">Metro Property Group</a>’s flagship townhouse development, Citrine Townhomes in <a href="https://www.apartments.com.au/developments/rochedale-qld-4123">Rochedale</a>, has reached another key construction milestone, with the first stage of townhouses now in the defects phase.

All building works for Stage 1 are complete, with the internal roads asphalted, line marking finished, and the bin store slab poured.&nbsp;All essential services, including permanent power, sewer, gas, and water, are now connected and operational.

The defects process is expected to continue until late-August.

<img alt="Citrine Townhomes, Rochedale" data-entity-type="file" data-entity-uuid="f48ad1d8-7bb2-424a-a378-2caa4d34c27d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/017%20-%20%20ROLLEY%20PHOTO%20MEDIA%20%20%20-24072025.jpg?VersionId=o5BC3LgYTwxcufsjldO8mkPww3gix1NC" />

Stage 2 is also moving forward steadily, with all townhouses sheeted, the first coat of paint applied, and joinery installed throughout. Tiling has been completed on six of the seven blocks, and the pool is scheduled to be pebblecreted by the end of August.

Stage 3 continues to gather momentum, with external cladding completed on three of the eight blocks. All townhouses have been fully roughed-in for electrical, plumbing, and air conditioning, and the first two blocks have now progressed to internal sheeting.

Stage 1 and 2 are 100 per cent sold and there are now just 10 four-bedroom townhomes left in Stage 3, priced from $1,125,000.

[smartcode_project:default project_id=136295 project_image_fid=211]

Residents at <a href="https://www.apartments.com.au/new-townhouses/citrine-townhomes-rochedale-311-gardner-road-rochedale-qld-4123">Citrine Townhomes</a> can also look forward to high-quality shared amenities. The residents' facility will feature a pool, landscaped areas, and a BBQ space, contributing to a lifestyle-focused community environment.

Metro’s fully furnished display home has generated strong interest locally, reinforcing the market’s confidence in the project. Stage 1 and 2 are completely sold out and Stage 3 has officially launched and is selling fast. Just 10 townhouses remain for sale in the development.

[smartcode_project:default project_id=136295 project_image_fid=273134]

The broader Citrine development comprises 90 three and four-bedroom townhomes designed across two to three levels, offering a contemporary contrast to Rochedale’s surrounding single-family homes.

Located just 17 km from Brisbane CBD, Citrine is within walking distance to schools, parks, and the popular Rochedale Village, home to Coles, medical services, and dining options.

Metro Property Group remains on track for project completion, with settlements forecast for Stage 1 in October/November 2025, Stage 2 in November/December 2025, and Stage 3 in January/February 2026.

[smartcode_project_cta:default project_id=136295]

First stage of townhouses at Citrine Rochedale reaches completion milestone

Virtual Reality

Apartment developers have been praised by the RBA for being among the businesses that successfully adjusted their sales practices during the pandemic.

RBA assistant governor Luci Ellis said on Wednesday that apartment developers had been among businesses that had adjusted&nbsp;to lockdowns and other restrictions on activity.

She noted the pandemic had accelerated existing trends to online.

&quot;Online delivery stretches beyond retail,&quot; she noted, adding that the property developer contacts in the RBA liaison program had indicated &quot;they have increased online services and plan to continue with these services.&quot;

&quot;This pattern is apparent in a range of industries, from telehealth and online learning, to construction and property development firms using virtual walk-throughs in place of in-person inspections.&nbsp;

[smartcode_project:default project_id=2905 project_image_fid=162743]

&quot;And although business travel is unlikely to disappear completely, many contacts expect to be more selective about whether in-person meetings are needed,&quot; she said.

Ellis added that the RBA&#39;s move to working from home also entailed switching to liaison by phone and videoconference.

She said the efficiencies of the change facilitated the increased tempo the RBA implemented to keep on top of &quot;more and more frequent discussions&quot; to ascertain what was happening during the pandemic.

&quot;More recently, we have scaled back the tempo to something more &lsquo;normal&rsquo;, and resumed in-person visits in some cases.&nbsp;

&quot;But we plan to continue with a mix of in-person and online meetings,&quot; she said.

Ellis concluded the lasting effects of the pandemic &quot;on where and how we live will touch all of us, directly and indirectly.&quot;

&quot;And they will have implications for housing construction, urban planning, transport and the provision of social services and infrastructure.

&quot;At the same time, we need to be mindful that some of the shifts going on could in part be temporary.&nbsp;

[smartcode_project:default project_id=4939 project_image_fid=152578]

&quot;For example, the border closures have paused immigration, which especially affects Australia&#39;s 2 largest cities.&nbsp;

&quot;And internal migration to Melbourne declined during the extended Victorian lockdown last year.

&quot;Those flows are likely to resume as borders open and restrictions ease, though perhaps at different rates to previous years.&nbsp;

&quot;Similarly, while many of the people moved out of larger population centres to escape the virus, or the lockdowns, some of them might return to their previous locations over time.

&quot;It is difficult to disentangle these transitory effects from the more lasting ones.&nbsp;

&quot;There will be at least some cases of people moving further out from the city centre, because long commutes will not seem so unpleasant if you only need to do it a couple of days a week.&nbsp;

[smartcode_project:default project_id=29048 project_image_fid=151677]

&quot;And where full-time working from home is possible, &lsquo;work from home&rsquo; really starts to mean &lsquo;work from anywhere&rsquo;.&nbsp;

&quot;So for some it has been possible to move to an entirely different population centre.

&quot;These bigger changes are almost certainly going to affect only a minority of the population.&nbsp;

&quot;But there will be some shifts, at least at the margin, which could alter patterns of relative growth.&nbsp;

&quot;These could matter for plans for urban expansion and the provision of new infrastructure, even if the distribution of population doesn&#39;t shift wholesale,&quot; Ellis said.

Her speech, titled, Lessons and Lasting Effects of the Pandemic was&nbsp;to the Ai Group, Adelaide.

The reference to property development firms using virtual walk-throughs came in a speech from RBA assistant governor Luci Ellis

jchancellor

RBA lauds apartment developers using virtual walk-throughs in place of in-person inspections

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Noosa real estate agency Reed &amp; Co. Estate Agents have released a wave of new online virtual home tours as part of their effort to curb the spread of coronavirus.
The tours are live and in 360 degrees for a full viewing experience.
Reed &amp; Co. owner and principal, Adrian Reed, said his company offers buyers the ability to freeze frame, zoom in, and ask questions to the agent in real-time at any time of the day, all from the comfort of their home.
Mr Reed predicts that some would feel the pull of Noosa, "as people start to really assess where they want their best days to be spent."
"We have been creating beautiful property films with the support from Luke Soanes Media for years. They play a critical role when you are selling prestige property. This is the next step to enable a virtual experience in the current environment," he said
"Given we have only started rolling out virtual inspections in the last 24 hours and we have booked 7 private virtual inspections, it is safe to say that there is an appetite from the market to find their dream home."
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While the housing market is set to experience a turbulent time over the next few months, Reed &amp; Co. expect this to have an excellent take-up by both buyers and sellers alike.
An example can be seen here in this <a href="https://youtu.be/xUS8bFACFQ4" target="_blank">introductory video produced by Luke Soanes</a>.
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Reed & Co. Estate Agents release virtual reality home tours to curb coronavirus

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Imagine being able to explore your new apartment, move your furniture around, and change the entire design palette at the click of a button. Thanks to the innovative technology of Virtual Reality (VR) and the talented team behind BVN REAL, apartment floorplans are being brought to life, with several buyers already trialing the product.

The cutting-edge new VR production studio named BVN REAL is a subsidiary business of <a href="/architects/bvn-architecture">award-winning architectural design firm BVN</a> and is led by creative director Barry Dineen and a team of highly skilled Game Developer Designers, 3D Visualisation Artists, VR Experience Developers, and Experience Designers. The product took four years to build and has already won the coveted 'Unreal Award' in 2018 (prior to the public launch) as well as receiving two other nominations in The AEC Excellence Awards.

<blockquote>
“Right now, people need to interpret, imagine, and visualise their future home using architectural drawings, plans, and 3D renders of the space. With VR they can actually step into their future for themselves and feel what it is like to be there. 

Our VR experiences give people the confidence to know that what they are seeing is exactly what they are going to get. It’s building trust and reducing the risk involved in one of the biggest purchases of buyers lives.”
</blockquote>

Barry Dineen, Creative Director at BVN REAL 

<div class="intrinsic">
<div class="intrinsic-inner">
<iframe allow="autoplay; fullscreen" allowfullscreen="" frameborder="0" height="370" id="yui_3_17_2_1_1573710549547_74" src="https://player.vimeo.com/video/312440113?app_id=122963&amp;wmode=opaque" width="650"></iframe>
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</div>

BVN REAL creative director Barry Dineen humbly acknowledged that although previous iterations of the technology were not taken to immediately, perseverance and user research led the team to focus in on how people authentically engage with VR.

<blockquote>
“The result is a powerfully immersive experience designed expressly for human interaction. A lot of developers and sales teams have dismissed VR because they tried a VR experience that was not designed with human behaviour at its core. When they try BVN REAL’s experiences there is an “ah-ha” moment where they see the true potential for VR for themselves.”
</blockquote>

<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/bvn_real_immersive.jpg" rel="gallery-all" title="Users experiencing VR in the studio"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/bvn_real_immersive.jpg?itok=1y6l8TwQ" title="Users experiencing VR in the studio" width="580"></a>

<figcaption>Users experiencing VR in the studio</figcaption></figure>INTUITIVE FEATURES INTEGRATED WITHIN BVN REAL

<ol>
<li>Users can instantly move between different apartment configurations and floorplans to compare options on offer</li>
	<li>Users have the ability to configure the space in real-time
	<blockquote>
	“Our experiences allow them to try out different materials and finishes options, change out furniture and fittings to their taste, or even strip it back to the empty shell so that they can get a better feeling for the space itself.”
	</blockquote>

	Barry Dineen, Creative Director at BVN REAL
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	<li>A realistic sunlight system enables users to experience the property at all times of the day</li>
	<li>All elements of the apartments virtually function the way they would in real life
	<blockquote>
	“A major goal of any VR experience is presence – feeling like you are actually in that place. When a user tries to turn on a tap and the tap does nothing, they are reminded that they are in a virtual environment. 

	We want the technology to disappear so that they can truly appreciate the design of a space. At first adding running taps felt like a novelty but over time we have grown to realise the importance of reacting to people’s input.”
	</blockquote>

	Barry Dineen, Creative Director at BVN REAL

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</li>
	<li>BVN REAL experiences are often ‘multiplayer’ because people feel more relaxed and comfortable when sharing the virtual experience with another real person. Currently, an avatar is used to represent those in the VR simulation with you
	<blockquote>
	“Realistically not many people are buying apartments on their own so we are trying to replicate what would happen if the apartment already existed. People walk around together a discuss the features and amenities. What really amazes us in our VR experiences is how many important conversations happen in the bathroom - even when the VR is situated on the 83rd floor of Sydney’s highest residential building with amazing views over the city.”
	</blockquote>

	Barry Dineen, Creative Director at BVN REAL

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	<li>Sales agents can join in at any stage to answer any questions live from within the VR simulation</li>
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HOW VR CAN PROVIDE TRANSPARENCY IN THE OFF-THE-PLAN MARKET

In concurrence with Barry Dineen’s sentiment about VR giving buyers the ability to see a home before they buy it, BVN Co-CEO Neil Logan explains that it also helps provide more transparency and helps advocate for better built outcomes.

<blockquote>
“VR has radically changed the way we communicate design. What was once opaque to many is now transparent and easily digestible. It has facilitated better understanding of design intent and has provided the opportunity for better built outcomes. 

We are proud to make this service available to broader markets. In doing this we believe that we are contributing to the design of a better future”.
</blockquote>

BVN co-CEO Neil Logan

<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/penthouse_hero.jpg" rel="gallery-all" title="Penthouse apart VR "><img alt="" class="image-article-full-width-580px" height="426" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/penthouse_hero.jpg?itok=GpWjXi6N" title="Penthouse apart VR " width="680"></a>

<figcaption>Penthouse apart VR</figcaption></figure>WHAT’S INVOLVED IN THE PRODUCTION OF A VIRTUAL WALKTHROUGH

A typical 3-bedroom apartment takes approximately 2 to 4 weeks to develop. Often architects will use BIM to build their designs in 3D, making it easier to prepare each design component for the gaming software used to create the virtual reality experience (BVN REAL use Unreal Engine from Epic Games).

Designers will also supply the BVN REAL team with imagery of the fixtures, finishes, and furniture, which will be used to populate the VR design.

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WHAT DOES THE FUTURE OF BVN REAL LOOK LIKE?

Virtual Reality’s capabilities extend far beyond unbuilt architecture. Not only is BVN REAL exploring VR within our current reality, but also within purely virtual worlds that will never exist in our own. In the past, the team has created Makerspaces which allow school students to build and launch full-size rockets.

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Creative Director Barry has grand ideas for the future of BVN REAL, such as developing the world’s largest museum/gallery.

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“I really want to develop the worlds biggest museum/gallery as a virtual place that people can visit that allows us to do things and see things that we could never do or see in the real world – and it would be accessible to everyone.”
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Barry Dineen, Creative Director at BVN REAL 

We look forward to following the progress of BVN REAL’s exciting future developments with the VR architecture space.

 

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Olivia Round

Introducing BVN REAL: Off-the-plan virtual reality house viewings are here

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EXPERT OBSERVERS
As virtual reality technology improves, it creates new opportunities for travellers seeking new experiences. This is the latest instalment of our <a href="https://theconversation.com/au/topics/tourism-and-technology-60904" target="_blank">series</a> exploring how technology is changing tourism.
Tourism is often about seeking deeper emotional and personal connections with the world around us. It’s a quintessential part of the “<a href="https://www.propertyobserver.com.au/http://journals.sagepub.com/doi/abs/10.1177/0047287507304039" target="_blank">experience economy</a>”, creating memories that can be recalled, re-lived and re-shared for a <a href="https://www.emeraldinsight.com/doi/abs/10.1108/TR-03-2017-0041" target="_blank">lifetime</a>.
But not all travel experiences take place in the real world. With the evolution of virtual reality (VR) technology, tourism is increasingly a mash-up of physical and virtual worlds. VR can even remove the need to travel entirely.
Excessive tourism, or over-tourism, in popular destinations can degrade heritage sites, the quality of life of host communities, and the experience of visitors. Virtual reality not only offers alternative forms of access to threatened <a href="https://dl.acm.org/citation.cfm?id=3167974" target="_blank">locations</a>, it also recreates historical experiences and provides virtual access to remote locations you might not make it to otherwise.
<a href="https://images.theconversation.com/files/240186/original/file-20181011-72133-pgadsr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/240186/original/file-20181011-72133-pgadsr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> Up to 6,000 people were visiting Maya Bay every day before it was closed to tourists. <a class="source" href="https://www.shutterstock.com/image-photo/maya-bay-phi-leh-island-thailand-128142050?src=qbfXg2R67vydk-u6AmL41w-1-9" target="_blank">Shutterstock</a>
<h2>Evoking a sense of ‘being there’</h2>
Our brains seem to have an inbuilt VR-like mechanism that enables us to live <a href="https://www.emeraldinsight.com/doi/abs/10.1108/TR-03-2017-0041" target="_blank">imagined experiences</a>. Much of our waking life is spent thinking about either the past (retrospection) or the future (prospection). This is known as <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3815569/" target="_blank">mind wandering</a>.
During these events we’re not paying attention to the current world around us. Instead, we’re recalling memories, or creating and processing imagined futures.
When we’re engaged in mind wandering, our brains process and appraise mental images via the same <a href="https://www.tandfonline.com/doi/abs/10.1080/13683500.2017.1388770?journalCode=rcit20" target="_blank">neural pathways</a> they use to receive stimuli from the real world. So, the imagined past or future can evoke emotions and feelings similar to how we react to everyday life.
VR can elicit these same feelings. Virtual worlds use sensory stimulation and vivid imagery to generate authentic experiences. Immersion in these environments <a href="https://www.tandfonline.com/doi/abs/10.1080/13683500.2017.1388770?af=R&amp;journalCode=rcit20" target="_blank">can lead to a deeper understanding</a> of a place or event than simply reading about it or looking at pictures.
There is evidence virtual reality can create absorption, or a state of attention, leading to a sense of “<a href="https://www.researchgate.net/publication/322112864_Determining_Visitor_Engagement_through_Augmented_Reality_at_Science_Festivals_An_Experience_Economy_Perspective" target="_blank">presence</a>” or “<a href="https://www.researchgate.net/publication/312046962_Virtual_Reality_and_Attitudes_Toward_Tourism_Destinations" target="_blank">being there</a>”. After a tourism VR experience of the Great Barrier Reef, for example, <a href="https://www.tandfonline.com/doi/abs/10.1080/13683500.2017.1388770?af=R&amp;journalCode=rcit20">participants reported experiencing</a> a sense of relaxation, similar to that gained from travel in real life.
<h2>What VR tourism looks like</h2>
<h3>Choosing a destination</h3>
Immersive videos of Australian holiday destinations created by Tourism Australia have been viewed more than 10.5 million times over the past two years. Research conducted by <a href="http://www.tourism.australia.com/content/dam/assets/document/1/6/y/7/t/2003897.pdf" target="_blank">Tourism Australia</a> shows that almost 20% of consumers have used VR to choose a holiday destination, while about 25% plan to use VR to choose a future destination. There is evidence VR can sometimes <a href="https://www.researchgate.net/publication/314949464_Understanding_Virtual_Reality_in_Marketing_Nature_Implications_and_Potential" target="_blank">surpass reality</a>, potentially leading the participant to choose an alternate destination.
<iframe src="https://www.youtube.com/embed/t88g8sZaVi4?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe> A 360 degree video of Stokes Bay on Kangaroo Island in South Australia.
<h3>Sustainability</h3>
In March, Thai authorities closed sections of the famous Maya Bay (which featured in Hollywood movie The Beach) because over-tourism threatened coral reefs. VR could offer experiences of locations like this without impacting the natural environment. It could also help support capacity management at “bucket list” destinations, such as Machu Picchu. But if VR is too effective at reducing visitation, alternate forms of income for local people need to be developed to support economic viability.
<iframe src="https://www.youtube.com/embed/RhQY6sKmEo0?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe> Visiting Machu Picchu.
<h3>Historical recreations</h3>
In 2018, the Australian War Memorial brought the <a href="https://www.awm.gov.au/hamelvr" target="_blank">Battle of Hamel</a> to virtual life using 3D and 360 degree video. Designers of the A$100 million Sir John Monash Centre in Villers-Bretonneux, France used immersive video, interactive touch screens and historical relics to <a href="https://www.smh.com.au/world/europe/sir-john-monash-world-war-i-recreation-so-real-it-will-make-you-cry-20180422-p4zazg" target="_blank">recreate the soldiers’ experience</a> on the Western Front during WWI. Similar work is being completed in regional Australia to recreate life on a US Airbase on “the Brisbane Line” – Australia’s controversial last point of defence in WWII.
<iframe src="https://www.youtube.com/embed/GlNPUZbccrQ?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe> Audiences can immerse themselves in the key action fought on 4 July 1918 on the Western Front via VR.
<h3>Access to remote areas</h3>
Wildlife watching can elicit <a href="https://www.youtube.com/watch?v=Q6AiIK2huHU" target="_blank">feelings</a> of empathy, surprise, novelty, even fear. It can also generate excitement, stimulation, entertainment and learning. But government regulation, cost, remoteness and seasonality of migratory patterns may limit opportunities for people to encounter some of the awe-inspiring creatures on our planet. Virtual immersion can offer alternatives that support conservation goals and provide transformative visitor experiences.
<iframe src="https://www.youtube.com/embed/JApQBIsCK6c?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe> Birdly is a flight simulator that uses arm holsters and 3D goggles to give a person the feeling of a bird soaring above ground.
<h2>Enhancing health and wellbeing</h2>
VR tourism could also help to increase health and well-being. Long working hours can lead to anxiety and depression. Research demonstrates <a href="https://www.propertyobserver.com.au/http://journals.sagepub.com/doi/abs/10.1177/1467358416638918" target="_blank">immersion in the outdoors</a> encourages relaxation, rejuvenation, expectation, surprise, trust in oneself, and improved self-esteem that can contribute to reduced symptoms. Short breaks using tourism-based VR experiences can mirror these effects and improve health.
<iframe src="https://www.youtube.com/embed/ZW3AiBjuH08?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe> Tourists encounter whales in the wild and are treated to a spectacular display.
New possibilities for VR <a href="https://www.sciencedirect.com/science/article/pii/S0261517709001332" target="_blank">applications</a> – both practical and pleasurable – are emerging as the technology evolves. And as travellers seek new and novel experiences, combining virtual with real world experiences may become a common feature of tourism in the future.<img src="https://counter.theconversation.com/content/101258/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/vikki-schaffer-531166" target="_blank">Vikki Schaffer</a>, Program Co-ordinator and Lecturer, Tourism, Leisure and Event Management, <a href="http://theconversation.com/institutions/university-of-the-sunshine-coast-1068" target="_blank">University of the Sunshine Coast</a>; <a href="https://theconversation.com/profiles/alexandra-bec-541089" target="_blank">Alexandra Bec</a>, Postdoctoral research fellow, <a href="http://theconversation.com/institutions/university-of-the-sunshine-coast-1068" target="_blank">University of the Sunshine Coast</a>; <a href="https://theconversation.com/profiles/brent-d-moyle-541088" target="_blank">Brent D. Moyle</a>, Associate Dean (Research), Faculty of Arts Business and Law / A/Professor of Tourism, USC Business, <a href="http://theconversation.com/institutions/university-of-the-sunshine-coast-1068" target="_blank">University of the Sunshine Coast</a>, and <a href="https://theconversation.com/profiles/noel-scott-282162" target="_blank">Noel Scott</a>, Professor at the Institute of Tourism, <a href="http://theconversation.com/institutions/griffith-university-828" target="_blank">Griffith University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/vr-technology-gives-new-meaning-to-holidaying-at-home-but-is-it-really-a-substitute-for-travel-101258" target="_blank">original article</a>.
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Can VR technology be a substitute for travel?

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REA Group has constructed a technology and invention space in Melbourne's Richmond to create, trial and launch the newest technologies for consumers to experience property.
REALABS will house a range of new technologies such as virtual reality, augmented reality, drones and robotics and will become the training centre for the Group’s global graduates, design engineers and product teams. 
Nigel Dalton, chief information officer has been appointed chief inventor.
The role of chief engineer role will replace that of the chief information officer, with a global search to fill the role underway.
REALABS will officially open in November 2016. 
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Former REA Group CIO Nigel Dalton named chief inventor, gifted tech think tank

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Residential listings can now be seen in virtual reality on realestate.com.au with the release of a new app on Google's mobile virtual reality platform Daydream.
The toolkit is built on Matterport’s VR Software Development Kit (SDK) with the number of properties available in VR to increase as the technology is more widely adopted.
Nigel Dalton, REA Group chief inventor said it is Australia’s first property app on Daydream. realestate VR will change the way people experience and interact with property.
"By 2020, most Australian homes will have VR headsets, and we’re confident the leading real estate agents will embrace virtual reality to create a brand new experience for a whole new generation of property seekers," he said.
<img src="/images/2016/11/11/realestate%20VR%202.jpg" alt="">
"The simplest practical example of virtual reality creating time for people is open for inspections. Instead of mum, partner and the kids running across town to view potential properties, either to purchase or rent, this time-consuming process could now happen in one place in just a matter of minutes.”
Matt Bell, Matterport chief strategy officer said Matterport's VR SDK allows anyone to quickly create VR applications using real-world content, enabling VR to be rapidly adopted across a range of industries.
Realestate VR by realestate.com.au is available in the Google Play Store for use on Daydream View, Google’s mobile VR headset and controller. For more information, visit <a href="https://www.realestate.com.au/vr/" target="_blank">www.realestate.com.au/vr/</a>
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Realestate.com.au launches virtual reality property app

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A virtual reality entertainment centre will open on the ground floor of Collingwood's medium density apartment complex You And I on the corner of Smith and Mater Street.
That VR Joint  will offer VR movies, games and social VR, and will provide all equipment and gear from Samsung, HTC, Oculus Rift and a GT Ultimate motion simulator chair.
Sal Quah, operations director at ICD Property, said That VR Joint is the first of its kind in Melbourne and will have a great audience in Collingwood.
“One of the main reasons we decided to develop in the area was due to the audience we’d know we’d attract, so it’s great to see retailers identifying the same markets with us and setting up shop to continue the gentrification of the area,” he said.
That VR Joint will be the first and only retailer located on the ground floor of You And I.
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jonathanchancellor-7SQnKwU6yx

You And I bring virtual reality to Collingwood

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A virtual reality toolkit has been launched to provide VR content creation and production.
Real VR, run by Jason Salter, formerly of Laing+Simmons and Ray White, has an existing agreement in place to provide VR content for Samsung through its affiliation with the global Start VR business.
He said to describe virtual reality as dynamic is an understatement: new applications and products are surfacing every week. 
"Real estate is a natural frontier for VR and Real VR has been established to provide a base for this market on the verge,” he said.
“The market for real estate is becoming increasingly international and the appetite among developers and agents, looking to communicate their products to the market in ways never before possible, is growing. 
“There has always been a disconnect when buying property off-the-plan. No matter how meticulously designed a display apartment might be, until you can offer buyers an immersive experience of a property you are not communicating your value proposition in the purest, most complete way. 
“And you certainly can’t showcase a display apartment to a buyer halfway across the world. 
“Real VR has been established to fill the hole in both the VR and real estate project marketing landscapes by providing the global launchpad for VR in real estate. The writing has been on the wall but only now, with the establishment of Real VR, does VR technology have a clear path for its inevitable march into real estate marketing."
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Virtual reality moving into real estate

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Australian property seekers and daydreamers will soon be able to explore their dream home in virtual reality through realestate VR, realestate.com.au’s virtual reality property app.
Coming soon to Android mobile devices, realestate VR will allow people to tour.
Selected properties on realestate.com.au will soon be available to view in virtual reality, giving real estate agents a key point of difference as they endeavour to make their property stand out from the crowd.
realestate.com.au continues to invest in, and trial new technology.
Nigel Dalton, Chief Information Officer at REA Group, commented that while virtual reality is not a new innovation, they had been trialling and testing its functionality for some time now.
“All you need to do is look at the runaway success of the Pokemon Go app to realise how in demand new technology is.
"We’re confident that both augmented reality and virtual reality will become increasingly useful tools for property seekers when looking for their next home.”
Realestate VR by realestate.com.au will be available in the coming months for download from Android app stores, including Google Daydream and Oculus for Samsung Gear VR.
 
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