Melbourne off the plan apartments

In the property market, many genuine financial shortcuts are scarce. Almost every region nationwide has experienced considerable growth over the last five, ten, or even fifteen years—driving affordability measures far above traditional standards.&nbsp;

One of the largest costs faced by buyers is stamp duty, especially when combined with mandatory deposits. A 10 per cent deposit typically triggers Lenders Mortgage Insurance (LMI), and to avoid that additional cost, buyers usually need to provide a 20 per cent deposit.&nbsp;

However, there is one area of potential savings that’s often overlooked: stamp duty concessions.&nbsp;

In the established market, stamp duty exemptions are limited to specific buyer segments or price points. But in Melbourne’s off-the-plan apartment market, the Victorian Government is offering a significant incentive—abolishing stamp duty entirely until October 2026, regardless of purchase price.&nbsp;

While other costs still apply, the difference in stamp duty between buying off the plan and purchasing an established property in Melbourne is now substantial.&nbsp;

This difference is especially pronounced in house-dominated suburbs like Ivanhoe, located in Melbourne’s leafy north-east. Developer Salter Brothers has identified an opportunity in the local apartment market, where the median house price sits at approximately $1.8 million—up 10 per cent over the past 12 months.&nbsp;

Their latest project, <a href="https://www.urban.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe">Candela</a>, presents a compelling case for savvy buyers looking to take advantage of stamp duty savings only afforded in the off the plan development.&nbsp;

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Buyers of the $2,366,000 homes would pay around $51,854 in stamp duty. In contrast, the same priced home in the established market would cost around $133,790 in stamp duty, a difference of around $81,000.&nbsp;

A two-bedroom apartment priced just under $1 million would attract $16,270 in stamp duty at Candela, compared to nearly $55,000 in the established market—around $38,455 difference.&nbsp;

One-bedroom apartments, starting from $649,000, would incur stamp duty of just $9,350. An established property at that price would cost around $34,010 in stamp duty.&nbsp;

These figures reflect the benefit of how stamp duty is calculated on off-the-plan purchases (for owner occupiers), based only on the land component at the time of contract and point of construction —compared to established homes, where it is calculated on the full purchase price. Once construction is complete, however, these off the plan incentives are no longer available.&nbsp;

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It’s a technicality that has evolved into a smart strategy for those who know where to look. At Candela, these financial advantages come with the added bonus of thoughtfully designed, contemporary apartments in one of Melbourne’s most desirable postcodes.&nbsp;

<h2>Why Ivanhoe?&nbsp;</h2>

Ivanhoe remains one of Melbourne’s most established and sought-after suburbs, offering a strong mix of lifestyle and convenience. It boasts access to top-tier schools, well-developed transport infrastructure, and vibrant village-style retail and dining. The area’s enduring appeal lies in its leafy streetscapes, proximity to the CBD, and nearby Yarra River parklands.&nbsp;

[smartcode_project:default project_id=342 project_image_fid=169551]&nbsp;

Candela is ideally located near Upper Heidelberg Road, offering residents seamless access to cafés, essential services, and public transport.&nbsp;

<h2>Design-led living at Candela&nbsp;</h2>

Salter Brothers partnered with architect John Demos to create four distinct apartment collections within Candela—Aurora, Brillante, Halo, and Lustre—with floorplans ranging from one to four bedrooms.&nbsp;

Apartments in the Brillante collection and beyond are well-suited to families. Curved walls in the master bedrooms create natural nooks, ideal for nursery corners or serene study spaces.&nbsp;

The one-bedroom Aurora apartments provide another thoughtful living solution: dual-key designs that allow for multi-generational living. These layouts enable grandparents or young adults to live close by while retaining privacy and independence. With just two of these apartments left, they represent a rare opportunity for proximity with autonomy.&nbsp;

[smartcode_project:default project_id=342 project_image_fid=169534]&nbsp;

Residents will benefit from access to commercial spaces designed to promote community connection, alongside private amenities including a resident lounge and rooftop terrace.&nbsp;

<h2>The long view on off the plan purchases&nbsp;</h2>

While buying off the plan involves some considerations—such as construction timelines and the need to thoroughly review plans and specifications—it also presents clear advantages. Chief among them is the ability to secure today’s prices while avoiding the higher upfront costs associated with established properties.&nbsp;

Construction at Candela, led by Ironside, is already underway, with completion expected by the end of September 2026.&nbsp;

[smartcode_project_cta:default project_id=342]

Savings can be around $81,000 to buy in Ivanhoe's newest off the plan apartment development, Candela Ivanhoe

Joel Robinson

How off the plan can help a home buyer save thousands in Melbourne’s Ivanhoe

Hawthorn is going through somewhat of a development boom in recent months, with several developments either being sought or commencing their sales campaign.

The most recent entrant is Peter Forsyth's <a href="https://www.urban.com.au/developers/outline-projects">Outline Projects</a>, who has filed for 41 apartments on Glenferrie Road.

They're seeking to replace several old commercial buildings with a new <a href="https://www.urban.com.au/architects/woods-bagot">Woods Bagot</a>-designed development incorporating two street-level retail spaces at 846-858 Glenferrie Road.<img alt="Glenferrie Road" data-entity-type="file" data-entity-uuid="e931ebbd-2011-457b-a495-7f26f1ce42aa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/entry%20retail.png?VersionId=qoE7XzbiDJZT8wvkoyL1SOLQ2Z1nl5xv" />

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The apartments, a mix of&nbsp;19 two-beds and 22 three-beds, each with usable balconies or terraces that are a minimum of 15 per cent of internal space. A 110 sqm communal rooftop for residents, complete with an outdoor kitchen, and dining and gathering zones, will crown the all-electric building.

Woods Bagot took cues from the Edwardian and Victorian architectural influences that dominate the area when designing the building, but with a modern interpretation of classic styles.

Architectural features such as lightwells and angled geometry break down the mass of the building and soften its visual impact on the surrounding neighbourhood.

<img alt="Glenferrie Road" data-entity-type="file" data-entity-uuid="739012de-73c7-406c-a5b9-afa242af9df3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/perspective.png?VersionId=l03SekDAZCiolzVtceQYuPKx2aSOWHuF" />

Outline's plans come hot on the heels of Carpe Group and ICON Developments, who just last month <a href="https://www.apartments.com.au/news/vic/first-look-carpe-group-and-icon-developments-team-up-again-for-new-downsizer-apartments-in-hawthorn">filed for 32 apartments on Robinson Road</a>.

Designed by acclaimed architecture studio&nbsp;<a href="https://www.apartments.com.au/architects/powell-glenn">Powell &amp; Glenn</a>, the low-density development is expected to cater predominantly to owner-occupiers—<a href="https://www.apartments.com.au/developers/carpe-group" target="">Carpe</a>'s primary target market. The majority of the 32 apartments will feature three bedrooms.

One of the most recent new developments to launch in Hawthorn is from precinct-led developer Hamton, who is selling <a href="https://www.apartments.com.au/new-apartments/scotch-hill-gardens-hawthorn-147-robinson-road-hawthorn-vic-3122">Scotch Hill Gardens</a>, a new community with six low-rise buildings enveloped in estabished greenery.

[smartcode_project:default project_id=149097 project_image_fid=327632]

It is another development by Woods Bagot, who drew inspiration from the organisation of lily pads on a pond—organic formations that are discrete yet interconnected, sitting lightly within their context.

This approach aligns with the principles of "nature-based cities," integrating nature, amenity, wellness, and community into the urban fabric.

Woods Bagot took cues from the Edwardian and Victorian architectural influences that dominate the area when designing the building, but with a modern interpretation of classic styles

First look: Hawthorn development boom continues with Outline Projects' Glenferrie Road plans

In most Australian suburbs where houses outnumber apartments, it's the standalone homes that typically command the highest prices. But Brunswick has bucked that trend, thanks to respected developer <a href="https://www.urban.com.au/developers/mirvac">Mirvac</a>.

The developer has shattered the local price record with the $4.4 million sale of an apartment in its Prince &amp; Parade project opposite Princes Park.

The 216 sqm residence now holds the suburb’s top sale price, comfortably surpassing the previous benchmark: a restored five-bedroom Victorian mansion from the 1880s, which sold for $4.15 million in late 2024.

Mirvac’s General Manager of Residential Development VIC, Elysa Anderson, said breaking the price record in Brunswick reflects both the exceptional work of the Mirvac Design team in collaboration with Bates Smart—especially their floorplan configurations and finishes—and Mirvac’s strong reputation in delivering high-quality residential communities across the country.

“We’re incredibly proud to see Prince &amp; Parade set a new benchmark for Brunswick,” Anderson said.

“This record-breaking sale is a testament to Mirvac’s commitment to design excellence, quality craftsmanship, and sustainable living. We look forward to welcoming residents in 2026 and seeing this vibrant community come to life.”

[smartcode_project:default project_id=4802 project_image_fid=217134]

<a href="https://www.urban.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a> has been designed in collaboration with <a href="https://www.urban.com.au/architects/bates-smart">Bates Smart</a>, marking the third time Mirvac has partnered with the acclaimed architecture firm on a parkside development in Melbourne. Their previous collaborations delivered two of the city’s landmark apartment buildings: The Melburnian on Queen Victoria Gardens and The Eastbourne on Fitzroy Gardens.

The all-electric building offers a total of 169 one- to four-bedroom apartments across two buildings, rising five levels on Park Street and up to nine levels on Brunswick Road.

[smartcode_project:default project_id=4802 project_image_fid=217119]

Residents will enjoy access to a rooftop terrace with views of Princes Park and the city skyline, a wellness centre with a gym and yoga studio, and private landscaped courtyards designed by landscape architect Jack Merlo to foster community.

Additional amenities include a residents' library and dining room, electronic parcel lockers, and refrigerated delivery storage in the lobby, managed by a dedicated building manager.

[smartcode_project:default project_id=4802 project_image_fid=321933]

There will also be a ground-floor café and retail spaces, offering ultimate convenience for future residents.

Located just four kilometres from Melbourne’s CBD and a short walk to Melbourne University, Royal Melbourne Hospital, and RMIT, the development has attracted particular interest from medical professionals and academics.

[smartcode_project_cta:default project_id=4802]

Exclusive: Mirvac breaks Brunswick record with Prince & Parade sale

In one of Melbourne’s most established suburbs, new apartment projects are a rarity.

But a development just 100 metres from Balwyn’s village retail strip, opposite its finest park, and a tram stop? Almost unheard of.

The newly launched&nbsp;<a href="https://www.urban.com.au/new-apartments/white-weston-balwyn-village-259-281-whitehorse-road-balwyn-vic-3103">White &amp; Weston</a>&nbsp;offers this rare combination — and more.

<h3 data-end="560" data-start="529">Balwyn's Retail Renaissance</h3>

White &amp; Weston is being delivered in partnership with Coles Group and Cera Stribley. True to that collaboration, the building will be anchored by a flagship Coles supermarket, offering unparalleled doorstep convenience for residents.

While mixed-use developments are common in urban precincts, they remain relatively rare in low-density, predominantly residential suburbs like Balwyn. The inclusion of a modern supermarket — featuring ready-to-eat meals, a fresh produce bar, and organic options — adds everyday ease without compromising the area's village charm.

[smartcode_project:default project_id=136850 project_image_fid=343594]

Retail along Whitehorse Road continues to evolve. Once defined by traditional neighbourhood shops, the strip now boasts an expanding mix of boutique retailers and hospitality venues, including independent fashion stores, specialty food providers, and contemporary cafés.

Local favourites like Birichino Cucina &amp; Pizzeria and Mazu Café exemplify this shift, bringing a more modern dining experience while continuing to serve a loyal local community.

<hr data-end="1677" data-start="1674" />
<h3 data-end="1698" data-start="1679">Parkside Living</h3>

White &amp; Weston enjoys a prime location on Whitehorse Road, directly opposite Balwyn Park — one of the suburb’s key green spaces and community hubs.

[smartcode_project:default project_id=136850 project_image_fid=343581]

Balwyn Park offers a wide range of facilities, including tennis courts, cricket nets, a football oval, playgrounds, and walking paths. For families and downsizers alike, it delivers the benefits of outdoor space without the upkeep of a private garden — effectively giving residents access to Balwyn’s largest backyard. In addition to this, White &amp; Weston offers over 650 sqm of private gardens designed by Jack Merlo, providing a quiet, green retreat within the development.

<hr data-end="2252" data-start="2249" />
<h3 data-end="2279" data-start="2254">Education &amp; Transport</h3>

Balwyn’s longstanding appeal, especially for families, is underpinned by its renowned education network. White &amp; Weston sits within the highly sought-after Balwyn High School zone, home to one of Victoria’s highest-performing public schools.

Nearby independent schools such as Fintona Girls’ School and Camberwell Grammar further strengthen the suburb’s appeal for families prioritising education access.

[smartcode_project:default project_id=136850 project_image_fid=343582]

Transport is another key advantage. Tram route 109, running along Whitehorse Road, provides direct access to Box Hill, the CBD, and Port Melbourne, offering a practical alternative to driving, with easy connection to both the city and the bay.

<hr data-end="2924" data-start="2921" />
<h3 data-end="2942" data-start="2926">The Building</h3>

Designed by Cera Stribley and limited to just three storeys, White &amp; Weston retains a low-rise character in harmony with its surroundings. At the same time, it raises the bar with enhanced amenities and refined design — a clear step up from much of the existing apartment stock in the area.

The project comprises 45 two, three, and four-bedroom apartments, set amid lush landscaping by Jack Merlo. Each residence includes a six-year building guarantee and a 52-week defect liability period.

[smartcode_project:default project_id=136850 project_image_fid=343584]

A limited-time early buyer incentive via Apartments.com.au offers a complimentary whitegoods package for the first three purchasers.

Liam Adey, Director at Marshall White Projects, says early interest has come from empty nesters, professional couples, and young families drawn to the location and lifestyle on offer.

[smartcode_project_cta:default project_id=136850]

White & Weston presents the ultimate in parkside, village lifestyle

Some of Melbourne’s most respected names in property are coming together to deliver something truly special—right in the heart of the city’s coolest suburb, and on arguably its coolest street.

Joint venture partners Chapter Group and Crema Group are behind <a href="/new-apartments/fitzroy-fitzroy-411-421-smith-street-fitzroy-vic-3065">Fitzroy Fitzroy</a>, a striking new apartment development on Smith Street. The project blends heritage charm with bold contemporary design by DKO, incorporating the restored façade of the former McRoberts garage and workshop.

Renowned construction firm Cobild is well underway with the build of the nine-level building that will house 63 apartments.

We recently toured the display suite with Taylor Dow of DOW Real Estate to get an inside look at what Fitzroy Fitzroy has to offer.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/PM-5GjXluMU?si=vb0boddAye2EywlM" title="YouTube video player" width="560"></iframe>

“<a href="/new-apartments/fitzroy-fitzroy-411-421-smith-street-fitzroy-vic-3065">Fitzroy Fitzroy</a> will be a new architectural landmark when it’s completed in early 2026,” Dow says.

“It’s a sculptural response to its surroundings,” Dow adds, noting how the form has been deliberately crafted to capture natural light and maximise views across Melbourne.

The project blends contemporary design with deep respect for Fitzroy’s storied past, with angular rooftops and sharply defined edges.&nbsp;

[smartcode_project:default project_id=14394 project_image_fid=183063]

Buyers can choose from a mix of one-, two-, and three-bedroom apartments, along with a collection of townhomes.&nbsp;

Each residence is available in a range of colour schemes, all drawing inspiration from Fitzroy’s rich cultural palette, inspired by the culture and character of Fitzroy.

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[smartcode_project:default project_id=14394 project_image_fid=1011]

Location is everything, and Fitzroy Fitzroy is enviably positioned. With a walk score of 96, it’s the second most walkable neighbourhood in Melbourne.&nbsp;

“It’s at the heart of what makes the suburb one of the city’s most popular,” Dow says.&nbsp;

The Smith and Johnston Street interchange is steps away, along with a vibrant mix of cafes, wine bars, restaurants, and direct transport links to the CBD and Fitzroy Gardens.

&nbsp;

The development also integrates seamlessly at street level, with the ground floor of the heritage façade set to host a selection of hospitality and retail brands, reinforcing its role as a new local hub.

[smartcode_project:default project_id=14394 project_image_fid=183064]

Fitzroy Fitzroy has been one of the most successful selling projects in the area, with over 70 per cent of apartments spoken for, including the sprawling penthouse that was snapped up for a suburb record $10 million. A further $3.5 million is being spent on its custom fit-out.

Cobild is expecting to complete construction in Q4 2025, with residents moving in shortly after

[smartcode_project_cta:default project_id=14394]

We recently toured the display suite with Taylor Dow of DOW Real Estate to get an inside look at what Fitzroy Fitzroy has to offer

Fitzroy Fitzroy: A heritage-inspired new landmark in Melbourne’s coolest suburb

Boutique Melbourne developer <a href="/developers/carpe-group">Carpe Group</a>&nbsp;is teaming up for the fourth time with joint venture partner ICON Developments to enter the new apartment market in Hawthorn.

The duo is planning a low-rise block of 32 two- and three-bedroom apartments on a prime 3,680 sqm site on Robinson Road, just a short walk from Riversdale Road and located midway between the centres of both Hawthorn and Camberwell.

<img alt="Robinson Road" data-entity-type="file" data-entity-uuid="5c3b61e6-c6d3-47e6-aebc-d379f0ddcadc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-06-23%20at%204.34.29%E2%80%AFPM.png?VersionId=OBSttx0Nmm2DGxrbDOaoc4WVefxPh4li" />

Designed by acclaimed architecture studio <a href="/architects/powell-glenn">Powell &amp; Glenn</a>, the low-density development is expected to cater predominantly to owner-occupiers—Carpe's primary target market. The majority of the 32 apartments will feature three bedrooms.

The architectural design aims to reflect Hawthorn’s established residential character, integrating seamlessly with the surrounding streetscape in a modern apartment setting. The building will be set within landscaped gardens designed by renowned landscape architect <a href="/landscape-architect/myles-baldwin-design">Myles Baldwin</a>.

Carpe founders Tim Campbell and Stuart Kacir hope to secure planning approval later this year, with plans to launch the project to market in early 2026. They are expecting to complete the building in mid-2028, pending approvals.

<img alt="23-27 Robinson Road, Hawthorn" data-entity-type="file" data-entity-uuid="c32f8562-763c-4904-a0b3-8add63967981" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Image21.jpg?VersionId=JaOGkrObp67rhfJI.9xIwPSnTd57lc4S" />

Carpe previously partnered with ICON Developments on Grandview in Brighton, a boutique development of just 10 apartments completed in 2023. They are currently delivering <a href="/new-apartments/ocean-house">Ocean House</a> in Hampton—18 apartments located just one street back from Hampton Street—which have proven particularly popular with local downsizers.

Carpe currently has <a href="/new-apartments/studley-park-residences-kew-85-studley-park-road-kew-vic-3101">Studley Park Residences</a>, a collection of 31 apartments in the heart of Kew, on the market, as well as <a href="/new-apartments/the-coterie-sandringham-49-51-abbott-street-sandringham">The Coterie</a>, a 25-apartment development in Sandringham. They have another project in planning, <a href="/new-apartments/53-57-cambridge-street-collingwood-vic-3066">Cambridge Collingwood</a>, 27 apartments with ground-level retail, which is expected to secure approval later this year.

Designed by acclaimed architecture studio Powell & Glenn, the low-density development is expected to cater predominantly to owner-occupiers—Carpe's primary target market.

First look: Carpe Group and ICON Developments team up again for new downsizer apartments in Hawthorn

Developer&nbsp;<a href="/developers/rcorporation">R.Corporation</a>&nbsp;has launched the second and final tower in its mixed-use South&nbsp;Melbourne&nbsp;precinct.

<a href="/new-apartments/r-evolution-south-melbourne-253-normanby-road-south-melbourne-vic-3205">R.Evolution</a> follows in the footsteps of&nbsp;the highly successful <a href="/buildings/r-iconic-south-melbourne-259-normanby-road-south-melbourne">R.Iconic</a>, located on the western half of the prime Normanby Road site that&nbsp;<a href="/developers/rcorporation">R.Corporation</a>&nbsp;acquired nearly a decade ago.

The majority of the 456 apartments in the 31-level&nbsp;<a href="/buildings/r-iconic-south-melbourne-259-normanby-road-south-melbourne">R.Iconic</a>&nbsp;tower—designed by&nbsp;<a href="/architects/plus-architecture">Plus Architecture</a>— have sold, with just a handful of premium residences and townhouses remaining.

[smartcode_project:default project_id=150341 project_image_fid=1499]

R.Evolution continues in the same vein as its predecessor, offering a mix of one-, two- and three-bedroom apartments, townhouses and sub-penthouses.

Much like&nbsp;<a href="/buildings/r-iconic-south-melbourne-259-normanby-road-south-melbourne">R.Iconic</a>, which made headlines for its 30+ resident amenity offerings, including a rooftop running track, R.Evolution will add a host of new amenity.

The new 41-level tower includes a wellness Centre with a yoga and Pilates room, a second swimming pool, a magnesium spa and infrared sauna. Additionally, a co-working centre, table tennis tables, golf simulator, putting green, library, hotel-style lobby, private dining room and wine tasting room will also be added.&nbsp;

[smartcode_project:default project_id=150341 project_image_fid=1493]

R.Evolution also shares a podium with R.Iconic, giving R.Evolution residents access to the already established rooftop level—featuring a running track, indoor and outdoor gyms, sauna and steam room, dining pavilions, BBQ areas, fire pits, a children's playground, over an acre of Paul Bangay-designed gardens, and a pool.

Construction firm&nbsp;<a href="/news/maxcon-appointed-as-builder-for-adelaide-s-penny-place-development">Maxcon</a>&nbsp;has already commenced work on R.Evolution, with completion expected in 2027.

[smartcode_project:default project_id=150341 project_image_fid=1516]

<a href="/buildings/r-iconic-south-melbourne-259-normanby-road-south-melbourne">R.Iconic</a>&nbsp;was awarded Victoria’s Best Lifestyle Development at the 2023 PropertyGuru Awards—recognised not only for its extensive resident amenity offering, but also for its prime location at&nbsp;<a href="/developments/the-junction-nsw-2291">the junction</a>&nbsp;of South&nbsp;<a href="/developments/melbourne-vic">Melbourne</a>,&nbsp;<a href="/developments/southbank-vic-3006">Southbank</a>, Port&nbsp;<a href="/developments/melbourne-vic">Melbourne</a>, and the fringe of the CBD.

The entire precinct has been positioned as a "15-minute neighbourhood," with walking access to&nbsp;<a href="/developments/melbourne-vic">Melbourne</a>’s extensive tram network, South&nbsp;<a href="/developments/melbourne-vic">Melbourne</a>&nbsp;Market, and the&nbsp;<a href="/developments/melbourne-vic">Melbourne</a>&nbsp;Exhibition Centre.

R.Corp is hosting a Grand Launch event on Saturday, June 28, in the R.Evolution Display Suite at 52 Boundary Street, South Melbourne, between 10am and 4pm.

[smartcode_project_cta:default project_id=150341]

R.Corp is hosting a Grand Launch event on Saturday, June 28, in the R.Evolution Display Suite at 52 Boundary Street, South Melbourne, between 10am and 4pm

R.Corporation launches R.Iconic sister tower, R.Evolution

Consistency hasn’t been a word used to describe Melbourne’s property market in recent years — at least, not in a positive way.

For a time, it was consistently the worst-performing capital city property market nationally. While values rose across most of Australia, the Victorian capital not only lagged behind but even went backwards.

However, the tide has turned since the start of the year, with the market bottoming out around the same time the RBA delivered its first rate cut.

The June Home Value Index by Cotality (formerly CoreLogic) showed unit values grew by 0.4 per cent in May, continuing the same growth pattern seen in both March and April.

The off-the-plan property market has benefitted from the broader upswing — fuelled not only by rate cuts, but also by extended stamp duty concessions, increased construction confidence, and more new projects entering the pipeline.

&nbsp;

<h2>What happened in Melbourne’s off the plan apartment market in May?</h2>

May marked the extension of the VIC Government's stamp duty abolition. Originally launched in October last year, the scheme allows buyers to pay no stamp duty on any new or off the plan apartment, regardless of price.

Initially set to run until October 2025, the recent VIC budget announced it would be extended to October 2026.

The $61 million initiative aims to reduce upfront costs for buyers and accelerate the construction of new apartments and townhouses across the state. The expanded concession has already saved buyers an average of $24,517, with no price caps or eligibility restrictions.

Read more: <a href="/news/vic/vic-government-extend-stamp-duty-abolition-for-off-the-plan-properties-to-october-2026">VIC Government extend stamp duty abolition for off-the-plan properties to October 2026</a>

Some of Melbourne's leading developers were active in May. Design-led developer Milieu launched their third active development, marking a return to Brunswick, where they’ve already delivered four projects.

Their fifth, Saxon Street by Milieu, will bring 77 apartments to the heart of the Merri-bek Arts and Culture Precinct.

The nine-level building has been designed with sustainability and cultural integration in mind, featuring a 7.5-star NatHERS average rating and all-electric infrastructure.

[smartcode_project:default project_id=136434 project_image_fid=348839]

Located near Brunswick Baths, Balam Balam Place, and the local library, Saxon Street aligns with the council’s vision to transform the area into a civic and cultural hub.

Read more: <a href="/news/vic/saxon-street-by-milieu-to-bring-new-housing-and-urban-design-to-brunswick-s-cultural-core">Saxon Street by Milieu to bring new housing and urban design to Brunswick’s cultural core</a>

&nbsp;

National developer <a href="/developers/lendlease-development">Lendlease</a> broke ground on <a href="/new-apartments/ancora-at-collins-wharf-docklands-971-collins-street-docklands-vic-3008">Ancora</a> at Collins Wharf in May — a strong signal of confidence in the market.

The 28-level tower in Docklands, already over 50% sold, is the third residential building in the six-stage Collins Wharf precinct, which will eventually deliver 1,800 residences and 5,000 sqm of parkland.

[smartcode_project:default project_id=9779 project_image_fid=318931]

Read more: <a href="/news/vic/lendlease-commences-construction-at-ancora-collins-wharf">Lendlease commences construction at Ancora Collins Wharf</a>

There was another significant construction milestone in May with the commencement of the Fishermans Bend Innovation Precinct — a $180 million government-led initiative set to anchor Australia’s largest urban renewal project.

With infrastructure now underway, the 480-hectare site is being primed to support 80,000 residents and 80,000 workers by 2050.

<img alt="Construction begins at Fishermans Bend Innovation Precinct" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-05-19%20at%2010.16.26%E2%80%AFAM.png?VersionId=5gdJMw44gZyeda9qDGf1DgIpWyn9fFHW" />

Central to the precinct will be the University of Melbourne’s new School of Engineering and Design, opening in 2026. The campus will foster collaboration between students, researchers, and industry leaders, with a strong focus on applied knowledge and practical solutions.

Read more: <a href="/news/vic/construction-begins-at-fishermans-bend-innovation-precinct">Construction begins at Fishermans Bend Innovation Precinct</a>

&nbsp;

At the top end of the market, <a href="/developers/orchard-piper">Orchard Piper</a> and joint venture partner NPACT secured a $20 million sale for the penthouse at <a href="/new-apartments/one-toorak-place-7-19-carters-avenue-toorak-vic-3142">One Toorak Place</a>, setting a new record for the suburb.

<img alt="Orchard Piper secures $20m record-breaking penthouse sale at One Toorak Place" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-05-22%20at%208.59.36%E2%80%AFAM.png?VersionId=V34dKvksgifBKxssOVmnNqO8iPVSPxrE" />

Spanning 560 sqm, the five-bedroom residence includes a private wellness zone and an eight-car garage — redefining apartment living in Melbourne’s most exclusive postcode.

The sale also reflects growing demand for luxury off the plan homes with hotel-style amenities. Construction begins later this year, and the project will deliver 47 residences, plus new retail and dining, including a venue by restaurateur Chris Lucas, to revitalise Toorak Village.

Read more: <a href="/news/vic/orchard-piper-secures-20m-record-breaking-penthouse-sale-at-one-toorak-place">Orchard Piper secures m record-breaking penthouse sale at One Toorak Place</a>

City Beat May 2025: Melbourne units continue recovery as stimulus and construction confidence drives off the plan market

Developer <a href="/developers/time-place">Time &amp; Place</a> and its joint venture partners MaxCap Group and <a href="/builders/hickory">Hickory</a>, have announced a significant construction milestone for <a href="/new-apartments/the-queensbridge-building-southbank-90-queensbridge-street-southbank-vic-3006">The Queensbridge Building</a>, with the project officially topping out and reaching its full height at 65-levels and 209 metres tall.&nbsp;

Celebrating the building’s structure reaching completion and acknowledging the hard work from construction workers and trades to achieve this in a safe and timely manner, particularly given the current construction climate, The Queensbridge Building’s topping out marks a major step towards welcoming its new residents home to the 353 apartments in Q4 2025.&nbsp;

[smartcode_project:default project_id=1504 project_image_fid=272082]

It is also a milestone that serves as an early indicator of the upcoming opening of the signature component of the unique development, the Hannah St. Hotel.&nbsp;

The 188-key boutique hotel has been the focus of the design and brand team at Time &amp; Place and is the newest design-led property to join the Collection by TFE Hotels portfolio.&nbsp;

Collection Hotels, including the recently opened The EVE Hotel Sydney, are committed to quality design, exceptional experience, and connection to their community. Each is independently owned, with management services provided by TFE Hotels.&nbsp;

As the only high-rise residential tower in Southbank set for completion in 2025, The Queensbridge Building achieving topping out reinforces confidence for existing purchasers and prospective buyers in a current market where off the plan project delays are not uncommon. &nbsp;

[smartcode_project:default project_id=1504 project_image_fid=272078]

Built by Hickory, renowned for its large-scale, high-quality developments across Australia, The Queensbridge Building’s future residents can be confident that their homes will be delivered to the highest standard, reflecting Hickory’s proven track record in luxury, high-density living.&nbsp;

Architects&nbsp;<a href="/architects/fraser-partners-0">Fraser &amp; Partners</a> worked alongside Time &amp; Place and the award-winning interior designer David Flack from <a href="/architects/flack-studio">Flack Studio</a>&nbsp;to design the timeless architecture that has become The Queensbridge Building.&nbsp;

[smartcode_project:default project_id=1504 project_image_fid=272079]

The development features a series of luxe residential amenities including private rooftop terraces, lush gardens, lap pool, wellness studios, co-working space, and The Clubhouse for residents which will be serviced by the Hannah St. Hotel.

The hotel lobby and food and beverage will be located adjacent to the residential lobby and create a unique hospitality element to the precinct that significantly enhances the building’s overall services on offer, providing a unique premium experience for residents.&nbsp;

&nbsp;

[smartcode_project:default project_id=1504 project_image_fid=272090]

With The Queensbridge Building now directing attention to interior fit-outs to reach its full completion, Time &amp; Place is excited to add yet another leading residential development to their growing $5 billion development portfolio.&nbsp;

Tim Price, Founder and Director of Time &amp; Place, said the topping-out milestone was a proud moment for the project and a testament to the team’s dedication.&nbsp;

“This is a momentous step towards delivering The Queensbridge Building, and the dedication from our partners, Hickory and MaxCap Group, ensures a project of exceptional quality," Price said.

"Reaching this point gives buyers confidence that their home will be delivered on time, meeting the high expectations we’ve communicated from the outset."

[smartcode_project:default project_id=1504 project_image_fid=272093]

Simon Hulett, Head of Direct Investment at MaxCap Group, highlighted the significance of the construction milestone.&nbsp;

“Reaching this milestone for a tower of this height, scale, and complexity reflects the superior execution capabilities of our partners, Hickory and Time &amp; Place," Hulett says.

"It also highlights the quality of product and outcome we are committed to delivering for our investors. We believe The Queensbridge Building will set a new benchmark for quality in Melbourne and is ideally positioned to capitalise on the improving market sentiment in 2025.”&nbsp;

[smartcode_project_cta:default project_id=1504]

Tim Price, Founder and Director of Time & Place, said the topping-out milestone was a proud moment for the project and a testament to the team’s dedication

The Queensbridge Building, Southbank apartment tower, tops out

Multi-generational living is becoming increasingly common in modern apartment developments.

As baby boomers begin planning for retirement, many are looking to downsize—unlocking equity from their large family homes now that their children have left, or are preparing to leave, the nest.

They're seeking homes that are more low-maintenance and less demanding, but still spacious and practical.

Some downsizers wait until their children move out; others plan ahead for that eventual reality. The latter group often seeks large apartments with multiple living zones—allowing adult children, who might still be studying or starting full-time work, to retain some independence while staying within the family home.

With this in mind, Salter Brothers teamed up with architect John Demos to design their new Ivanhoe apartment development, <a href="/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela</a>, to meet the needs of downsizing families. The result: a limited collection of large, dual-level residences featuring multiple living zones.

[smartcode_project:default project_id=342 project_image_fid=336456]

These multi-zoned apartments are not only attracting downsizers with older children but also younger families looking for a more affordable, brand-new alternative to established housing—often out of reach in inner-city suburbs like Ivanhoe.

There is also a smaller, yet significant, market of buyers planning to accommodate ageing parents in the future. To cater for this, the two-level known as the loft style apartments in the Lustre collection feature a master bedroom on the ground floor—complete with an ensuite and walk-in wardrobe—situated next to the main kitchen, living, and dining area. This thoughtful layout eliminates the need to navigate stairs, providing added comfort and accessibility. &nbsp; Additionally, the Lustre collection includes single storey apartment options for young families.

[smartcode_project:default project_id=342 project_image_fid=212227]

Several apartments also include integrated study nooks, catering to children of all ages—whether for homework, remote learning, or working from home.

Candela offers four distinct apartment collections: Aurora, Brillante, Halo, and Lustre, with a mix of one- to four-bedroom floorplans.

From the Brillante collection upwards, each configuration is suited to family living. The curved walls in the master bedrooms of Brillante apartments, for example, lend themselves to being used as nursery corners or quiet study areas.

[smartcode_project:default project_id=342 project_image_fid=212225]

The one-bedroom Aurora apartments offer yet another form of multi-generational living: adjacent, yet independent, residences. A grandparent or young adult can live nearby while maintaining their own private space. With only four of these unique layouts available in the entire development, they present a rare opportunity to achieve proximity with privacy in a new build.

[smartcode_project:default project_id=342 project_image_fid=169534]

In addition to introducing new apartment living to a suburb traditionally dominated by detached houses, Salter Brothers is also delivering valuable amenities to Ivanhoe. The apartments will have access to commercial spaces—designed to foster community connection while serving both residents and the wider neighbourhood. Residents will also have exclusive access to private amenities, including a residential lounge and rooftop terrace.

Construction has commenced, with completion expected by the end of September 2026.

[smartcode_project_cta:default project_id=342]

The multi-zoned apartments are not only attracting downsizers with older children but also younger families looking for a more affordable, brand-new alternative to established housing

Melbourne off the plan apartments

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