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]

Joel Robinson

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

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

Brisbane off the plan apartments

The final apartments in the penultimate towers of Sekisui's West End masterplan, West Village, are now being sold.

The Allere Collection, which comprises two side-by-side towers Uno and Duno, is over 85 per cent sold. They'll be joining a thriving, well established community when they're completed in late 2024, a decade after Sekisui started the award-winning redevelopment of the much-loved Peters Ice Cream factory site.

The Allere Collection has proven popular with a variety of demographics, from first home buyers, pet owners, and young and established families, given the Mollison Street project sits within close proximity to seven schools.

Both Uno and Duo have been designed by renowned architecture firm Rothelowman, and rise 20 storeys above the West End precinct.

Residents within the Allere Collection will also have the benefit of enjoying double the amenity, with shared access to both Uno and Duo rooftops.

Crowning the Uno tower will be a pool, enclosed dining space, seating areas, a vegetable garden, conservatory, as well as ‘Paw Pavilion’ - an off leash dog space on the rooftop.&nbsp;Topping Duo will be a pool, heated spa, enclosed lounge room and dining space, along with outdoor barbecue facilities and sun loungers.&nbsp;

[smartcode_project:default project_id=114215 project_image_fid=207148]

The Allere Collection offers an incredibly connected lifestyle for it's resident which not many other projects can offer in the whole of Brisbane, given a large part of the extensive 2.6 hectare masterplan is dedicated to creating a connected village vibe.

A full-line Woolworths supermarket ensures easy access to daily essentials, while Harris Farm Markets provides fresh produce. Goodlife Health Clubs cater to fitness needs, and a chemist and medical centre offer comprehensive healthcare services.

[smartcode_project:default project_id=114215 project_image_fid=204843]

There's over 25 food and lifestyle providers which offers a diverse range of dining and leisure options.

Art and culture enthusiasts will find delight in the on-site Metro Arts Theatre Precinct, hosting regular performances by renowned organisations such as Opera Queensland and Queensland's Chamber Orchestra, Camerata.&nbsp;

Nestled within a living heritage village that pays homage to the iconic Peters Ice Cream and Cone Factories, The Allere Collection embraces its rich history. Built in 1920, the factories have become an integral part of the village's charm and character.

[smartcode_project:default project_id=114215 project_image_fid=204874]

Sustainability lies at the core of The Allere Collection's ethos. The development incorporates various initiatives to minimise its environmental impact and create a harmonious living space.&nbsp;As a 6-star Green Star Community, it sets a new standard for environmentally friendly living. Tinted windows help reduce heat gain and energy bills, while rainwater tanks and plumbing for a greywater recycling system contribute to water conservation. A 21kW solar PV system generates renewable energy for communal areas, reducing the community's reliance on traditional power sources.

Expansive green spaces provide residents with a connection to nature, while sustainability measures are integrated throughout the community. The Walk Score of 99 out of 100 signifies the high level of walkability and accessibility.

[smartcode_project_cta:default project_id=114215]

The Allere Collection offers an incredibly connected lifestyle for it's resident which not many other projects can offer in the whole of Brisbane, given a large part of the extensive 2.6 hectare masterplan is dedicated to creating a connected village vibe

alisonwarters@gmail.com

Sekisui's The Allere Collection in West Village hits 85% sold

Albion's landmark Breakfast Creek Hotel is set to get a new neighbour, with a Sydney investor filing plans for a two-tower project across the road.

The plans, submitted by DRJ Investments on a 2,569 sqm block spanning 4 Higgs Street and 11 Sandgate Road, are for two 17-level buildings homing 199-apartments, rooftop recreation, and an activated ground plane.

Architecture firm Jackson Teece said in their Design Report that the neighbouring heritage-listed Breakfast Creek Hotel played into the design.

<img alt="Breakfast Creek Hotel" data-entity-type="file" data-entity-uuid="08d2ffc7-ca91-430f-91e7-395b467f6b73" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-03%20at%204.39.17%20pm.png?VersionId=jGEF5LbL7b4Z1UY.b_5mA8TTEUH_xSDT" />

"This proposed development provides an opportunity to renew and further establish a highly activated and people oriented precinct," the report said.

"The existing Breakfast Creek Hotel, a rare and historic cultural icon, is central to our consideration for the revitalisation of the precinct.

"The podium extends one level above the Breakfast Creek Hotel in order to provide a sympathetic and natural backdrop, emphasising the profile and character of the historical hotel and its hero'ing architectural style without competing."

They said hospitality uses will be pursued that are complementary to the existing operations of the hotel. The food and beverage tenancies will run alongside the pedestrian traffic on the Breakfast Creek pathway. The ground level restaurant will provide a semi-outdoor, subtropical dining area.

"This area is intended to be utilised by residents for breakfasts and likely offer a variety of complementary and inclusive refreshments, and act as a meeting area for breakfast, lunch and for occupants to relax," the report added.

<img alt="Breakfast Creek Hotel" data-entity-type="file" data-entity-uuid="864d2ef6-37c1-4d9f-8d62-e7d7d36afee0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-03%20at%204.39.50%20pm.png?VersionId=P8SdYMHBUcNHmXDzLd_2A_T1cdO6bpQY" />

There will be 45 one-bedroom apartments, 117 two-bedroom units, and 16 three-bedrooms, as well as 21 two and three-bedroom SOHO apartments (part residential, part commercial).

Each of the podium apartments on the lower levels will benefit from large outdoor areas fringed by landscaping.

70 per cent of the apartments maximise northern and a north east aspect, and another 70 per cent maximise south and south eastern primary views to the City and Brisbane River as well.

The buildings are crowned with a rooftop recreation area with a 20 metre lap pool and spa, poolside cabanas, a gym with a yoga deck, a cinema room, business centre, private dining space, and a communal recreation space.&nbsp;

<img alt="Breakfast Creek Hotel" data-entity-type="file" data-entity-uuid="8baa33c3-6b7a-43ff-99a1-d241f8a4cfde" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-03%20at%204.39.45%20pm.png?VersionId=MJ7eWlsr9UH7PVjOExA_pwFJp8Qt8Tez" />

Town Planning Report by Place Design Studio said the proposed development has been expertly designed to embrace the subtropical climate of Brisbane and achieve the vision and design benchmarks of the New World City Design Guide – Building that Breathe.

"Specifically, the proposed development implements principal elements of living greenery, streetscape activation, sunlight, natural air and ventilation, landscaped podium courtyards, and generous outdoor living spaces for each apartment.

"Furthermore, the proposed development includes a large, pedestrian oriented and landscaped plaza, extending from the ground level and out onto the end of Higgs Street between the site and the Breakfast Creek Hotel.

"This plaza represents a significant upgrade to the public realm and a substantial placemaking outcome for the locality. The plaza is a significant community benefit and one which would not have been delivered by the current City Plan outcomes.

Currently on the site is a one-level office building.

Architecture firm Jackson Teece said in their design report that the neighbouring heritage-listed Breakfast Creek Hotel played into the design.

Albion's iconic Breakfast Creek Hotel to get new neighbour

Brisbane unit values continued their consistent value growth pattern across June, according to property data analytics firm CoreLogic's Monthly Hedonic Home Value Index.

Unit values rose a further one per cent last month, following gains of 1.1 per cent in May and 0.9 per cent in April.

Brisbane's median unit value broke through the $500,000 barrier in May. Now it's over $512,000, according to CoreLogic, after year to date gains of three per cent.

Units in Brisbane have proven to be one of the best performing markets over the last 12 months despite the nation-wide downturn fuelled by rising interest rates. Compared to this time last year, Brisbane unit values are 1.5 per cent higher. Only Perth and Adelaide's units have seen growth over the same period.

CoreLogic's Research Director Tim Lawless says a lack of available supply continues to be the main factor keeping upwards pressure on housing values.

“Through June, the flow of new capital city listings was nearly -10 per cent below the previous five-year average and total inventory levels are more than a quarter below average.

Read more:&nbsp;<a href="/news/nsw/city-beat-june-2023-sydney-secures-off-the-plan-sales-success-at-affordable-and-luxury-ends-of-the-market">City Beat June 2023: Brisbane's tight supply drives off the plan apartment sales</a>

"Simultaneously, our June quarter estimate of capital city sales has increased to be 2.1% above the previous five-year average.”

Although housing values continue to record a broad-based upswing, the pace of growth across most capitals eased in June.

“A slowdown in the pace of capital gains could be a reflection of a change in sentiment as interest rate expectations revise higher,”&nbsp;Lawless added.

“Higher interest rates and lower sentiment will likely weigh on the number of active home buyers, helping to rebalance the disconnect between demand and supply.”

<h2>Brisbane's off the plan update July 2023</h2>

Those developers who have had their projects in market over the last few months, and have either shown buyers they've delivered quality product previously or they have agreements in place with builders, are securing strong sales.

Colliers Director Residential Lily O'Connell says buyer activity throughout the first half of 2023 has been incredibly positive across their Brisbane projects.

"We’ve consistently experienced higher than average enquiry numbers and inspections as demand continues to outstrip supply," O'Connell says.

"There’s been immense media hype around the high-end apartment market, however buyer demand isn’t isolated to the top end. We’ve experienced strong sales activity across all product types and price points."

[smartcode_project:default project_id=108736 project_image_fid=209941]

O'Connell says that while&nbsp;local owner occupiers have predominantly driven buyer activity, they have witnessed a surge in renewed interest from interstate and overseas buyers, both owner-occupiers and investors.

Three key trends have emerged so far in 2023, O'Connell says, the first, unsurprisingly, being the substantial number of downsizers.&nbsp;

"The key difference to previous observations is their inclination to deviate from traditional retirement living and instead opt to remain in their apartment for the foreseeable future. As a result, factors such as accessibility, apartment liveability and lifestyle amenity hold utmost importance to them."

[smartcode_project:default project_id=108736 project_image_fid=209692]

The second trend is the all-time high demand for two-bedroom, two-bathroom apartments with two car spaces and a multi-purpose room.

"Historically, this particular group of buyers would typically opt for three-bedroom apartments," O'Connell says, adding however that, due to subsequent price changes in off the plan properties, this configuration has become an affordable and appealing lifestyle alternative.&nbsp;

The third has been significant demand for larger three-bedroom apartments which are at the more affordable end of the three-bed market.

"In our projects across Brisbane, we have amalgamated a total of eighteen individual apartments to create nine larger apartments. These apartments are typically situated on the lower levels of a building which have created more affordable price point options."

[smartcode_project:default project_id=113455 project_image_fid=211471]

Place Kangaroo Point Director Simon Caulfield has been secure record-breaking sales on Brisbane's riverfront over the last few months.

He says Brisbane has "come of age."

"The price data indicates a shift in perception and a growing recognition of the city's potential among buyers," Caulfield said.

"The limited listings in Brisbane's premium suburbs and the notable sales in New Farm and Kangaroo Point have created a sense of urgency surrounding this price point.

"Place Advisory says penthouse sales have risen by 350 per cent since 2017, as luxury and security become front of mind for cashed-up interstate and local buyers."

Earlier this year Caulfield sold Spyre Group's Moray House penthouse for a new record $15.75 million, as well as the smallest whole floor apartment in the six-level New Farm building, for $9 million. That apartment, with 259 sqm of internal living area, represented a price of over $34,000 per sqm, a price more commonly achieved in Sydney or Melbourne.

[smartcode_project:default project_id=105057 project_image_fid=209769]

"It is not just the views that are creating this sense of urgency; it is the limited opportunities available in this market," Caulfield added.

"The demand for premium properties with exceptional features and locations has surpassed the available supply. Buyers are recognizing the potential for future growth and are eager to secure their place in this burgeoning market.

"Brisbane has indeed come of age, and buyers are taking note.

"The recent sales at the higher end of the market, coupled with limited opportunities and the allure of exceptional views, have created a sense of urgency and heightened interest among buyers. The city's potential for growth and the prospect of securing a premium property have positioned Brisbane as a compelling destination for real estate investment."

[smartcode_project:default project_id=105057 project_image_fid=209770]

Position Property Director Richard Lawrence says demand is outstripping supply, and that will continue well into next year.

"The Brisbane residential property market is at a critical crossroad, with new listings across the city reported as being 17.8 per cent lower than the previous five-year average, and almost 20 per cent lower than this time last year," Lawrence said.

"With more than 700,000 migrants forecast to make the move to Australia by 2024, combined with interstate migration, this unprecedented demand will continue to outstrip supply."

Lawrence says, with inflation and construction costs continuing to rise each quarter and momentum building towards the Brisbane 2032 Olympics, he can’t see the trend in supply or property prices changing in the coming months or years.

Brisbane's median unit value broke through the $500,000 barrier in May. Now it's over $512,000, according to CoreLogic, after year to date gains of three per cent

City Beat July 2023: Brisbane "has come of age" as apartment demand booms

Handford Heights, the latest residential development by Heran Building Group, delivers a much needed residential option to the expanding suburb of Taigum in North Brisbane.

The development has caught the eye of a number of family buyers due to the project's enviable proximity to not only the CBD, but to a number of shops, education options and public transport.

[smartcode_project:default project_id=13435 project_image_fid=154098]

Residents will benefit from being within walking distance to&nbsp;Taigum Primary School and Carseldine Train Station, providing direct access to the city.

Furthermore, the Brisbane Entertainment Centre, St Joseph's Nudgee College, and the Aspley Hypermarket are all in close proximity, ensuring that residents have easy access to a range of amenities.

Handford Heights boasts an onsite manager who ensures that residents' needs are promptly addressed, providing a hassle-free living environment.

[smartcode_project:default project_id=13435 project_image_fid=205315]

The development also includes a swimming pool and dedicated recreational spaces, providing residents with areas to enjoy outdoor activities and socialise with their neighbours.

A mix of three and four-bedroom townhouses are still available in the project, with some benefitting from additional study space. The remaining three-bedroom floorplans are priced from&nbsp;$725,000, with the four-bedders starting from&nbsp;$845,000.

[smartcode_project_cta:default project_id=13435]

The development has caught the eye of a number of family buyers due to the project's enviable proximity to not only the CBD, but to a number of shops, education options and public transport

Handford Heights delivers residential boost to Taigum

Brisbane developer Aria Property Group is seeking to make its Kangaroo Point apartment development, Canopy House, a little bigger.

They're seeking to add a further nine levels to create a 29-level tower at 58-62 Leopard Street, which will see another 36 apartments created.

Aria have had six apartment amalgamations in the Rothelowman-designed project, the minor change applicaiton submitted to the Brisbane City Council noted.

Another 10-bedroom apartments will be added to create 64 in total, and another 15 three-bed units to make 66.

With the additional apartments come 226 car parking space, up from 193.

<img alt="ARIA Rothelowman" data-entity-type="file" data-entity-uuid="ff8af148-fe87-4781-b33f-f8080397fd25" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aria%20Canopy%20House%203.jpg?VersionId=19bJKmNndQxU3WnFMRQQ5GVteknCIShw" />The approved tower on the left v the proposed change on the right. Image credit: Rothelowman

Aria is well known for their extensive rooftop amenity, and the change application even further extends what they'd put together in their original application.

Now the amenity will span two levels. The whole 800 sqm rooftop will still home a lap infinity pool with day beds and cabanas, but some rejigging will now see a resident's lounge, a private dining area, and two barbecue terraces complete the rooftop.

<img alt="Aria Canopy" data-entity-type="file" data-entity-uuid="8e9d5c3a-cb6f-4673-af48-bb04fe08d44b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aria%20Canopy%20House%202.jpg?VersionId=x9.LDuQzSYxNGPOOJeZ6VQ_JQ_.Y6Xe6" />The approved tower on the left v the proposed change on the right. Image credit: Rothelowman 
&nbsp;

Below the rooftop will now be a wellness centre with a gym, treatment room, sauna and steam rooms, and a hot and cold pool. On the same level will be a number of work from home office booths, a boardroom, and a cinema room.

When they submitted their application just over a year ago, Aria said their "vision was to create a world class development with an enviable architectural form that will assist in the revitalisation of the Kangaroo Point South and&nbsp;Woolloongabba&nbsp;Centre Neighbourhood Plan Areas."

Canopy House is currently under construction and is slated for completion in 2025.

[smartcode_project_cta:default project_id=112597]

They're seeking to add a further nine levels to create a 29-level tower at 58-62 Leopard Street, which will see another 36 apartments created

Aria seek to make Kangaroo Point cliffside tower Canopy House by Aria larger

Jade Apartments offers a completed and ready-to-move-in option to Brisbane's north.&nbsp;

Located just four kilometres from the CBD, the Albion development comprises a mix of one, two and three-bedroom apartments, set across four buildings on a 1.4 hectare Burdett Street site.&nbsp;

[smartcode_project:default project_id=22639 project_image_fid=188917]

Arden Property Group sought to deliver a lifestyle development that seamlessly blends the vibrant pace of Brisbane with the tranquility of a personal haven, with the group engaging Arqus Design for the architecture.&nbsp;

Nestled in a peaceful corner of Albion, the development benefits from its proximity to the leafy high-wealth belt suburbs of Ascot, Hamilton, and Clayfield.

The strategic location not only enhances the desirability of Jade but also offers strong growth prospects for residents.

[smartcode_project:default project_id=22639 project_image_fid=196858]

One of Jade's key advantages is its convenient proximity to the Brisbane CBD, essential amenities, services, and a plethora of lifestyle indulgences.

Residents will be just a few minutes' drive or a short walk away from some of Brisbane's most popular lifestyle and entertainment precincts, with easy access to Gasworks Plaza, Portside Wharf, Racecourse Road, James Street, and Fortitude Valley.

[smartcode_project_cta:default project_id=22639]

Nestled in a peaceful corner of Albion, the development benefits from its proximity to the leafy high-wealth belt suburbs of Ascot, Hamilton, and Clayfield

Inside Arden Group's completed Albion development, Jade Apartments

Everton Park, a suburb with humble post-war era beginnings, is experiencing a remarkable transformation. With its contemporary architecture, urban art, and exceptional connectivity to greater Brisbane, Everton Park has become a vibrant and sought-after community.

Among the bustling streets and friendly atmosphere lies Fable by Rogerscorp, a 57-townhome community that offers the best of both worlds: A nature-driven sanctuary with convenience literally on its doorstep.

[smartcode_project:default project_id=112680 project_image_fid=196536]

Fable's carefully chosen location ensures quick and convenient access to a variety of retailers, anchored by Everton Park's largest Woolworths.

Previous plans for the Woolworth Street site was for four high-density towers, Rogerscorp&nbsp;Director Simon Rogers said the new plans meet the evolving needs of the surrounding neighbourhood and ensures families have modern living options within the community that suit their lifestyle.

Conveniently situated just eight kilometres from the CBD, Fable enjoys a prime location that allows its residents to easily access both the immediate neighbourhood and all the offerings of the city.

[smartcode_project:default project_id=112680 project_image_fid=196537]

It is a haven hidden in plain view, surrounded by meticulously landscaped gardens and an abundance of local cafes, restaurants, and retail options.

But Fable's advantages don't stop at its doorstep. Everton Park itself is a thriving hub of culture and modern-day folk life. The suburb is home to a diverse range of eateries and entertainment venues, providing a lively atmosphere that caters to all tastes.

Nature enthusiasts will find joy in the presence of Kedron Brook, which flows through the neighbourhood. With its walking and cycling trails, playgrounds, picnic areas, and dog parks, there's no shortage of outdoor activities.&nbsp;

Designed by Z Architects, the material palette allows for the townhomes to be seen as a unified object from afar, yet upon closer inspection, the individualism of each dwelling stands out.

[smartcode_project:default project_id=112680 project_image_fid=200119]

Similar to the site being surrounded by amenity, the masterplan surrounds a central park, the focal point of private amenity and congregation for the residents and its visitors.

Residents will enjoy ultra-exclusivity with an array of resort-style facilities&nbsp;including recreation and relaxation amenities like a pool, sun lounges, herb and veggie garden, barbecue pavilion, pizza oven, and fire pits.

[smartcode_project_cta:default project_id=112680]

Fable's carefully chosen location ensures quick and convenient access to a variety of retailers, anchored by Everton Park's largest Woolworths.

A hidden urban sanctuary in Everton Park: What's around Fable by Rogerscorp

Developer Sarazin are staking a claim as one of the most prominent developers in the booming Woolloongabba precinct.

Having successfully sold out Silk One, well before Brisbane were announced as the host city for the 2032 Summer Olympics, they've just launched their next Woolloongabba apartment tower.

The development has been called Murcia, given the inspiration for the design was based off the Spanish orchard city, renowned for its relaxed Mediterranean ambiance and lush landscapes.

The HAL Architect-designed tower was crafted so residents could enjoy an all year round alfresco lifestyle, with deep balconies and numerous outdoor amenities.

[smartcode_project:default project_id=135094 project_image_fid=214645]

&nbsp;

&nbsp;

Murcia Residences will deliver a collection of one, two, three and four-bedroom apartments, all designed to offer spacious and open plan living.&nbsp;

The generous proportions of the living spaces seamlessly blend indoor and outdoor living, allowing residents to bask in the Queensland climate while enjoying views of the city, the river, and the verdant eastern suburbs.

Residents will have a choice between Terracotta or Clasico colour schemes, meaning each home will be personalised ensuring a bespoke experience.&nbsp;&nbsp;

[smartcode_project:default project_id=135094 project_image_fid=214651]

Crowning the development will be a suite of residential amenity, including an infinity pool, accompanied by private poolside cabanas and sun lounges.

There will also be a wellness area offering cold and warm magnesium plunge pools, a sauna, steam room and outdoor showers, as well as alfresco private dining and barbecue facilities.&nbsp;

Aside from the luxurious features within Murcia, residents will also benefit from their positioning within East Brisbane.&nbsp;

[smartcode_project:default project_id=135094 project_image_fid=214682]

A mere 500-metre walk away from&nbsp;Murcia lies the new Cross River Rail Station, slated for completion in early 2025, with the convenient transportation hub se to connect residents to the rest of the city.

Completion on Murcia Residences is slated for March 2026. Prices start from just over $600,000.

[smartcode_project_cta:default project_id=135094]

The HAL Architect-designed tower was crafted so residents could enjoy an all year round alfresco lifestyle, with deep balconies and numerous outdoor amenities

Sarazin launch Murcia Residences in the heart of Woolloongabba's Olympic precinct

Brisbane's Queen's Wharf Tower has become the talk of the town as eager buyers scramble to secure their piece of this iconic address.

With early works underway and construction due to commence, opportunities to own a residence in this prestigious development are running out fast, with only a limited supply of three-bedroom residences remaining.&nbsp;

Far East Consortium and Chow Tai Fook Enterprises are behind the development, which will boast a&nbsp;265 metre-high tower featuring a range of apartments coupled with luxurious amenities designed to make resident's feel like they're living in a five-star resort.&nbsp;

[smartcode_project:default project_id=13276 project_image_fid=202825]

There will be a 25-metre lap pool and lounge, complete with cabanas providing the perfect place to soak up the Queensland sun. Queen's Wharf will also home a wellness centre and gym, featuring a steam room, sauna and magnesium plunge pool.&nbsp;

Entertainment options abound within the tower, with a cinema and sound lounge available for movie nights and gatherings with friends, along with an executive bar, library, private dining area, a wine lounge, sports bar, and games room.

The group has also included a business centre within the tower, which will provide a number of boardrooms, in addition to an outdoor work from home lounge.&nbsp;

[smartcode_project:default project_id=13276 project_image_fid=203034]

Queen's Wharf Tower is not just a place to call home; it's a lifestyle.

Its location within the Queen's Wharf Precinct guarantees residents unrivalled access to luxury retail, dining, and entertainment options.&nbsp;

The remaining three-bedders each boast multiple bathrooms and car spaces, with prices starting from&nbsp;$2.992 million.&nbsp;

[smartcode_project_cta:default project_id=13276]

Far East Consortium and Chow Tai Fook Enterprises are behind the development, which will boast a 265 metre-high tower featuring a range of apartments coupled with luxurious amenities designed to make resident's feel like they're living in a five-star resort

Limited opportunities remain to secure an apartment at one of Brisbane's most iconic addresses

As the bustling capital city of Australia and the proud host of the upcoming 2032 Olympic Games, Brisbane continues to evolve and redefine its skyline.

Amidst the city's rapid growth, 443 Queen St, currently in the advanced construction phase, stands tall as a future landmark development.

Developed by Cbus Property, one of the nation's most awarded property investors and developers, the project will offer 264 apartments with a mix of one, two, three and four-bedroom floorplans.&nbsp;

[smartcode_project:default project_id=6226 project_image_fid=37090]

Designed by the internationally acclaimed architectural firms WOHA and Architectus, 443 Queen St takes full advantage of Brisbane's climate and natural surroundings.

The residences are afforded with unprecedented views of the Brisbane River, Story Bridge, and Kangaroo Point, blending the serenity of the river with the vibrancy of the city.

The floorplates maximise view lines from every angle, while also promoting natural airflow and cross flow ventilation.&nbsp;In harmony with Brisbane's subtropical climate, the building boasts a design that 'breathes', allowing residents to enjoy the fresh air and create a sense of connection with nature.

The emphasis on sustainable and energy-efficient design sets 443 Queen St apart as a world-class development. The integration of lush gardens throughout the building not only enhances the aesthetic appeal but also contributes to reducing energy consumption.

[smartcode_project:default project_id=6226 project_image_fid=37148]

Residents will also benefit from a full-floor recreation deck, complete with a 25-metre riverside infinity pool, a state-of-the-art gym, dining room, and cabana lounges.&nbsp;

Located between Queen Street and the Brisbane River, the development is strategically situated next to the heritage-listed Customs House and neighbouring park, while also being near to the best the CBD has to offer, including a range of cafes, restaurants, and retailers.&nbsp;

[smartcode_project_cta:default project_id=6226]

433 Queen Street will offer 264 apartments with a mix of one, two, three and four-bedroom floorplans

Brisbane off the plan apartments

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