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]

Joel Robinson

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

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

[smartcode_project:default project_id=106566 project_image_fid=185853]

Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

[smartcode_project:default project_id=106566 project_image_fid=362498]

Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

Melbourne off the plan apartments

Melbourne's housing supply could see a significant boost through strata reform, according to new research by Urbis.

The study identified over 1,000 strata sites within a 15km radius of Melbourne's CBD that could collectively deliver over 100,000 additional dwellings.&nbsp;

Urbis utilised spatial data to locate all strata developments within <a href="/developments/melbourne-vic">15km of Melbourne CBD</a> with more than one property/lot present and an existing address pre-2010. &nbsp;

[smartcode_project:default project_id=107714 project_image_fid=227201]

The study identified all lots with zoning that allows for residential use and calculated the potential additional dwelling capacity based on current planning controls.&nbsp;

The research found that the underlying land value of these sites exceeds the value of the existing strata titled lots. &nbsp; 
This indicates a significant opportunity for redevelopment and uplift in the housing supply.&nbsp;

"Repositioning underdeveloped strata sites has the potential to deliver a much-needed uplift in well-located housing supply," said Mark Dawson, Director at Urbis.&nbsp;

"Notably, around half of this dwelling uplift is located within the <a href="/developments/melbourne-vic-3000">City of Melbourne</a>. With over 140,000 &nbsp;key workers employed within the City of Melbourne, additional housing supply close to employment centres would provide critical relief to those who often need to live close to where they work."

[smartcode_project:default project_id=3260 project_image_fid=218718]

The research also highlights the need for legislative reform to facilitate these changes. Urbis suggests amendments to the Owners Corporations Act 2006 to allow for a collective sale with a 75 per cent consensus and the introduction of legislation similar to the NSW Act - Strata Schemes Development Act 2015.&nbsp;

Urbis Director, Alex Nunn, said the&nbsp;State's ambition to deliver 70 per cent of new housing in infill areas is well-supported by this strata reform.

"Measures that align and amplify proposed policy to unlock housing supply within the inner and middle ring are highly welcomed," Nunn said.

"The liveability and demand for housing in these localities has been proven over the years and ageing strata developments occupy some of the most sought-after real estate in Victoria."

Urbis concludes that strata reform could unlock significant housing supply in <a href="/developments/melbourne-vic">Melbourne's inner and middle rings</a>, aligning with the State's infill housing supply goals and providing much-needed housing for key workers.

"The State's ambition to deliver 70 per cent of new housing in infill areas is well-supported by this strata reform."

Strata reform could trigger 100,000 new dwellings in Melbourne: Urbis

Developer <a href="/developers/osk-property">OSK Property</a> has focused on creating a new apartment development where residents can do it all within their own new home.

BLVD in <a href="/developments/southbank-vic-3006">Southbank</a>, the latest stage of the $3 billion Melbourne Square masterplan, focuses on providing an unrivalled collection of facilities that help residents in fitness, wellness, and social interactions to improve their well-being.

<a href="/new-apartments/blvd-at-melbourne-square-19-hoff-boulevard-southbank">BLVD</a> is among the first residential projects in Australia registered to pursue WELL Certification, a performance-based system for measuring, certifying, and monitoring features of the built environment that impact human health and well-being.

“It’s rare to create a building designed today, delivering tomorrow’s living standards," COX Architecture Director, Paul Curry, says about the 74-level BLVD.

"A blueprint for modern life, BLVD is for you and your community to live well and foster better connections than ever before."

[smartcode_project:default project_id=107714 project_image_fid=211868]

BLVD has a significant level of amenity both indoor and outdoor.

The Level 8 Podium Club offers residents views across Melbourne, a state-of-the-art gym, a 25-metre indoor swimming pool, spa, and sauna.

[smartcode_project:default project_id=107714 project_image_fid=211867]

More entertainment and active spaces occupy two levels in BLVD, encompassing a cinema, karaoke room, and a golf simulator.

The podium level of BLVD features a zen garden with barbecue facilities, alfresco spaces, and shaded seating areas.

[smartcode_project:default project_id=107714 project_image_fid=216123]

The owners of the premium residences in BLVD have&nbsp;exclusive access to the Level 55 Skye Club that is home to another gym, cocktail lounge and private dining rooms, and the best views from any amenity space within the tower.

For work, the Co-Quarter Business Facilities offer co-working spaces, private pods, and meeting facilities with views of the Royal Botanic Gardens.

[smartcode_project:default project_id=107714 project_image_fid=216124]

Various interest groups thrive within the building, from dog walking to personal training groups, games, book clubs, and a calendar of curated community events.

Residents can also build a genuine connection with many established groups that will thrive within the building community, from dog walking to personal training groups, games and book clubs, to enjoying future curated community resident events.

Multiplex has been <a href="/news/vic/osk-property-and-multiplex-break-ground-at-blvd-melbourne-square">signed on as the construction partner</a> for BLVD at <a href="/buildings/melbourne-square-93-119-kavanagh-street-southbank">Melbourne Square</a>. They've already broken ground, and are expecting to complete the tower in early 2027.

[smartcode_project_cta:default project_id=107714]

BLVD in Southbank to pursue Australia's WELL Certification with string of apartment facilities

The property market in Melbourne continues to face downward pressure, now falling behind the likes of Adelaide and Perth for median dwelling value.

Melbourne unit values declined a modest -0.1 per cent over August, while houses dropped -0.2 per cent.

On the face of it, they aren't huge declines. The issue is the pace that other capital cities are growing at. Brisbane is closer to two per cent growth in units, and arguably doesn't have as much of a supply issue as Melbourne.

Questions are being asked as to whether <a href="/developments/melbourne-vic">Melbourne</a>&nbsp;now represents a great opportunity for buyers, because the market will turn at some point in the not too distant future, it's more a matter of when than if it will turn.

It's the first time since 2015 the Melbourne median dwelling value has slipped behind Perth, when the latter was just coming off the highs of an iron ore boom.

CoreLogic's 40-year median dwelling value series hasn't seen Adelaide with a higher median than Melbourne.

Values are skewed however slightly, given a third of Melbourne homes are units, compared to around 16 per cent homes in Perth and Adelaide.

CoreLogic Research Director, Eliza Owen, said there are a wide range of factors contributing to Melbourne's softer market conditions.

"The increased tax burden on investment property owners in Victoria, but it's not the only factor at play," Owen said.

"Supply is also a big factor for Victoria, where the state saw more dwelling completions over the past decade than any other state of territory."

<h2>What happened in Melbourne’s off the plan apartment market in August?</h2>

August was a quiet month in Melbourne's off the plan apartment market, with no new developments of note for buyers to enquire on.

Plenty of developers however are starting to line up their pipeline for the start of 2025.

One of the most exciting projects coming up is the $1.2 billion mixed-use precinct by Salvo for Melbourne's Pentridge Prison in Coburg.

The Melbourne developer is the latest to reveal plans for the southern portion of the former prison that ceased operations in 1997.

<img alt="Salvo plans $1.2 billion mixed-use redevelopment of Coburg's Pentridge Prison" 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/Pentridge%20Village_Ned%20Kelly%20Easement.png?VersionId=ROz.FE6zEoy3XjlQN__CZajv7YY2gC7j" />

The proposed development will include heritage preservation elements, such as Ned Kelly’s grave site and the bluestone F Division building, providing a mix of retail and public spaces while reflecting <a href="/developments/coburg-vic-3058">Coburg</a>’s character.

Pentridge Coburg is part of Salvo’s $3 billion development pipeline, which includes a $1 billion four-tower, mixed-use development at Fisherman’s Bend and Moray House, a $220 million multi-residential development in Southbank.&nbsp;

There were also noteworthy submissions in some of Melbourne's most popular inner-city suburbs.

Diversified developer&nbsp;<a href="/developers/goldfields-group">Goldfields</a> is pushing forward with plans for a 12-level mixed-use project in Richmond that will see 125 apartments developed above ground-floor retail at 9-15 Brighton Street.

With <a href="/architects/cera-stribley-architects">Cera Stribley</a> overseeing design and <a href="/landscape-architect/jack-merlo">Jack Merlo</a> handling landscaping, the project is set to bring another high-quality residential offering to <a href="/developments/richmond-vic-3121">Richmond</a>, a suburb known for its proximity to the CBD and iconic attractions like Chapel Street and the Melbourne Sports Precinct.

<img alt="Goldfields ready new $150 million mixed-use development in Richmond" 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/Richmond%20Site%202.jpg?VersionId=vxKyRwoFAeVSG58o3XXX7E7KTR3UEbEj" />

Well-known construction firm <a href="/builders/cobild">Cobild</a> is also planning an inner-city development. Their plans are in Fitzroy where they're proposing a 10-level building at 159-167 Johnston Street.

Dubbed <a href="/new-apartments/johnston-napier-159-167-johnston-street-fitzroy">Johnston &amp; Napier</a>, the development will deliver 57 large-scale apartments, on average spanning over 130 sqm.

With a strong focus on sustainability, this project aims to accelerate Melbourne's transition towards becoming a self-sufficient city, a trend that continues to gain momentum across the city's new developments.

<img alt="First look exclusive: Cobild plot Johnston St, Fitzroy new apartments" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-12%20at%204.11.51%E2%80%AFPM.png?VersionId=JARizOowqxqiKuv.jfzboqLXGWABNF2v" />

There were several strong sales results in August.

Along the coast in Hampton, design-led developer&nbsp;<a href="/developers/wickton">Wickton</a>&nbsp;sold out its six-apartment project, <a href="/new-apartments/58-beach-hampton-58-beach-road-hampton">58 Beach</a>.&nbsp;

Designed to cater to downsizers, the development, with unobstructed views of the beach and a prime location near Hampton Station, has been particularly appealing to those transitioning from larger family homes.

In Melbourne's south-east, <a href="/developers/damgar-group">Damgar Property Group</a>’s <a href="/new-apartments/rosella-murrumbeena-50-rosella-street-murrumbeena-vic-3163">Rosella</a> apartment project in <a href="/developments/murrumbeena-vic-3163">Murrumbeena</a> continues to perform well, with over half of the 70 apartments already sold.&nbsp;

[smartcode_project:default project_id=142221 project_image_fid=288651]

Situated across from Hughesdale Station and Village, the Rosella development provides a rare opportunity to buy new in this tightly held suburb, where only 100 new apartments were delivered between the 2016 and 2021 census.

For a limited time, Damgar is accepting five per cent deposits on a handful of the one and two-bedroom apartments on offer in the Cera Stribley-designed building.

August was a quiet month in Melbourne's off the plan apartment market, with no new developments of note for buyers to enquire on

City Beat September 2024: Melbourne property market hovering around the bottom

ASX-listed developer,&nbsp;Mirvac, has commenced the main tower construction at Trielle at Yarra’s Edge, its new apartment development in <a href="/developments/docklands-vic-3008">Docklands</a>.

The construction commencement, through Mirvac's inhouse building arm, follows the successful progression of early site works along the 130-metre stretch of riverfront promenade.

[smartcode_project:default project_id=114216 project_image_fid=211509]

The $350 million&nbsp;<a href="/new-apartments/trielle-at-yarras-edge-docklands-16-point-park-crescent-docklands">Trielle at Yarra’s Edge</a>&nbsp;is&nbsp;part of Mirvac's $1.2 billion master plan for the Docklands waterfront which kicked off over two decades ago. Now over 3,000 residents call it home.

Trielle, comprising around 191 apartments, is one of Mirvac's most amenity-laden developments they've ever produced.

The Oasis Wellness Club, a verdant urban rainforest with a trickling stream located seven stories above the Yarra's Edge promenade, has been designed&nbsp;in collaboration with spa expert Naomi Gregory.&nbsp; The Scandinavian-inspired wellness club features a&nbsp;biophilic gym, complete with state-of-the-art equipment, a yoga and pilates room, and a sauna, as well as hydrotherapy pools.

[smartcode_project:default project_id=114216 project_image_fid=211523]

There is a large lap pool in Trielle, as well as two spaces dedicated to working from home, The Biblioteca and The Mills Place Work From Home Pods.&nbsp;

&nbsp;

Located on the north-facing bank of the Yarra River, just two kilometres from Melbourne’s CBD, Yarra’s Edge features parks, playgrounds, a 1.3-kilometre riverfront promenade, retail and dining options, and a marina.&nbsp;

<a href="/developers/mirvac">Mirvac</a>&nbsp;is expecting to complete the 45-level Trielle by mid-2027.

[smartcode_project_cta:default project_id=114216]

Mirvac is expecting to complete the 45-level Trielle by mid-2027

Mirvac begin build of Trielle apartment development in Docklands

Wickton&nbsp;has sold all six apartments in its low-rise Hampton apartment development, 58 Beach.

<a href="/new-apartments/58-beach-hampton-58-beach-road-hampton">58 Beach</a>, with unonbstructed views to the beach and only 450m from Hampton Station,&nbsp; quickly attracted attention in the market, particularly among downsizers looking to transition from larger family homes. Prices had ranged from $1.65 million to $2.15 million for the large three-bedroom apartments.

[smartcode_project:default project_id=141530 project_image_fid=229655]

&nbsp;

Designed by <a href="/architects/ewert-leaf">Ewert Leaf Architects</a> with landscaping by <a href="/landscape-architect/john-patrick-landscape-architects">John Patrick</a>, the development was carefully crafted to blend the built environment with the natural coastal surroundings, just minutes from Hampton Beach.

The project’s design also emphasised spacious living areas that connect with outdoor spaces, offering wraparound garden courtyards for ground-floor apartments and expansive terraces with uninterrupted views of the bay for those above.

[smartcode_project:default project_id=141530 project_image_fid=229653]

The interiors featured a minimalist aesthetic with high-end finishes, including wide-plank engineered European oak flooring, natural stone plinths, and Swiss V-ZUG appliances.

<a href="/developers/wickton">Wickton</a>, led by property industry veteran Blanco Norton and architect Will Leaf, timed the release of 58 Beach Rd to align with favourable market conditions for downsizers, allowing buyers to secure a property at current prices with the potential for value growth by the project’s completion in December 2024.

The construction is being managed by 2 Moro Group.

The rapid sale of 58 Beach Rd reflects strong demand for premium, well-located properties in <a href="/developments/hampton-vic-3188">Hampton</a>, with its proximity to the beach and the thoughtful design elements that cater to the needs of downsizers.

[smartcode_project_cta:default project_id=141530]

The rapid sale of 58 Beach Rd reflects strong demand for premium, well-located properties in Hampton, with its proximity to the beach and the thoughtful design elements that cater to the needs of downsizers

Wickton sell out boutique Hampton apartment development, 58 Beach

Melbourne developer <a href="/developers/damgar-group">Damgar Group</a> is offering a limited-time five per cent deposit offer on selected Rosella apartments in <a href="/developments/murrumbeena-vic-3163">Murrumbeena</a>.

The offer applies to the next five apartments purchased, or until September 30. Half of the apartments in the seven-level, Cera Stribley-designed building have already been snapped up.

Prospective buyers can get in with a deposit of $32,750 for the $655,000 one-bedroom apartments that offer 58 sqm of internal space, a 10 sqm balcony, and a parking space.

The five per cent deposit for the $799,000 two-beds would be just under $40,000.

First home buyers can also take advantage of additional stamp duty savings from the VIC Government.

&nbsp;

[smartcode_project:default project_id=142221 project_image_fid=288651]

Construction of <a href="/new-apartments/rosella-murrumbeena-50-rosella-street-murrumbeena-vic-3163">Rosella</a> is tracking ahead of schedule. It has now&nbsp;reached the halfway mark, with the basement and first three floors completed and fit-out works soon to begin.

[smartcode_project:default project_id=142221 project_image_fid=288652]

<a href="/new-apartments/rosella-murrumbeena-50-rosella-street-murrumbeena-vic-3163">Rosella</a>&nbsp;is the only new apartment development in Murrumbeena.

Over half of the 70 apartments in the project have already been sold, reflecting strong demand in an area where new developments are rare.&nbsp;

Designed by <a href="/architects/cera-stribley-architects">Cera Stribley Architects</a>, the building's facade features a blend of rough-cast concrete, dark terrazzo, and warm copper accents to complement the nearby Hughesdale Station.

[smartcode_project:default project_id=142221 project_image_fid=288656]

The seven-level building will include commercial spaces at the ground level and a communal rooftop area for residents.

Rosella is expected to welcome residents in late 2025.

[smartcode_project_cta:default project_id=142221]

The five per cent deposit would mean buyers can secure a one-bed apartment for just over $32,000, and a two-bed for under $40,000

Five percent deposit offer at Rosella Murrumbeena to help buyers enter the property market

Jeff Xu's Golden Age Group is tapping into the heightened demand for family size living in Glen Waverley, a trend that is only expected to grow given the increase in population forecasts in the booming Melbourne suburb.

By the end of 2041, the population of the suburb of Glen Waverley is expected to reach almost 56,891, up over 10,000 from its current population of 46,653.

Since the 1990s, with the sale of surplus government and utility land, and the ongoing conversion of unused school sites to residential zoning, many new development opportunities have arisen. These opportunities, as they are seized upon, are delivering significant opportunities for developers, local government, local businesses, investors – and the householders themselves who can finally settle in the suburb of their choice because of more affordable choices in family-size, low-maintenance housing options.

<a href="/developments/glen-waverley-vic-3150">Glen Waverley</a> is part of the City of Monash – an area characterised by its diversity in ethnicity and nationalities. A significant percentage of its homes are owned outright, mostly by long-term residents, many of whom continue to reside in those properties.

With the area’s current and ongoing economic success, and its desirability among highly educated professionals, Golden Age Group expects to see continued demand for housing stock at every level.

<a href="/developers/golden-age-group">Golden Age Group</a>&nbsp;saw a continuing shortage of new-build family-size accommodation that was low-maintenance but offered private gardens in a smaller, communal setting. &nbsp;It is this shortage that Golden Age Group is addressing with Floret – 77 three and four-bedroom townhomes, at 583 Ferntree Gully Road, Glen Waverley.

<a href="/buildings/floret-glen-waverley-583-ferntree-gully-road-glen-waverley">Floret</a> will appeal to growing families who need more room, but don't want more maintenance.

[smartcode_project:default project_id=104680 project_image_fid=207730]

Golden Age Chief Investment Officer, Bing Chen, says the reasons for choosing Glen Waverley are not so different from the reasons that drew migrant families to this part of Melbourne in the 1970s.

“Glen Waverley is very commuter-friendly – you can be in the CBD in just over half an hour by train. Floret is also handy to a major Melbourne arterial, the Monash Freeway,” Chen says.

While easy access to work locations is a major driver to wanting a home in Glen Waverley, access to quality education comes a close second.

“There are some 24 childcare and education institutions nearby, from daycare and kindergarten to fantastic local primary and secondary schools, and right through to one of this country’s top universities, Monash University."

[smartcode_project:default project_id=104680 project_image_fid=207713]

Floret is just a short drive from two of Melbourne’s most prestigious private schools – Caulfield Grammar (Wheelers Hill campus), and Wesley College (Glen Waverley campus). Brentwood Secondary College, which is also very well-regarded, is just up the road.

Chen says the&nbsp;third great aspect of living in Glen Waverley is having all the benefits of a suburban lifestyle – tranquillity, lots of space, lots of green spaces – but there are also great cafes and restaurants offering "every cuisine you could wish for.”

The Glen shopping centre,&nbsp;with David Jones, Myer and more than 200 shops and food outlets, is only a few minutes down the road.

“Glen Waverley really has it all," Chen suggests.

Golden Age Group continues to monitor population, economic and social trends right across the eastern suburbs of Melbourne, Victoria, where property development must continue apace if Councils are to meet the ambitious housing targets in draft plans[4] announced recently by the Victorian Government.

These targets acknowledge the important role that Councils play in new residential construction by developing local planning policies and granting permit approvals.

“There are about 78,300 homes currently within the Monash City Council borders,” Chen adds.

“Because there is an expectation of continuing high growth in this part of Melbourne – fuelled by the advantages I’ve just talked about – Monash City Council has been given a target of adding 72,000 new homes to that housing stock by 2051.

“Our own business direction aligns with these local and state government planning strategies – as evidenced by other Golden Age Group projects such as Wembley Hill, which is in Box Hill South.”

[smartcode_project:default project_id=104627 project_image_fid=222321]

Under the current state policy 'Plan Melbourne', Box Hill is a designated Metropolitan Activity Centre and will be the focus of substantial development, growth and investment. Following a recent land purchase, Golden Age Group is now the biggest landholder in this state growth hotspot.&nbsp;

“The Government’s draft strategic plan sets a state-wide goal of delivering an additional 2.5 million homes by 2051 - two million of which are to be located in metropolitan Melbourne.

“We will be watching closely the progress of this plan as it is finalised and presented to the community,”

It is important to note that Golden Age Group’s development strategy doesn’t just align with the State’s in terms of adding to the number of residential dwellings in booming areas.

“With our consideration of green spaces, and the energy-saving and environmental benefits applied to our projects, we also share a commitment to providing housing that is liveable, sustainable, and enriching for residents and their broader communities.

“In these and other ways, Golden Age Group is helping to build a Victoria is which everyone can thrive.”

Golden Age Chief Investment Officer, Bing Chen, says the reasons for choosing Glen Waverley are not so different from the reasons that drew migrant families to this part of Melbourne in the 1970s

Golden Age Group cater for current and future demand for family-size living choices in Glen Waverley

Duke Apartments is bringing an apartment type rarely seen in the Collingwood market.

<a href="/buildings/duke-apartments-collingwood-93-wellington-street-collingwood">Duke Apartments</a>, located at 93 Wellington Street, offers just nine whole-floor apartments, providing floor plans that will suit the downsizer who wants to be centrally located near the action.

In the latest episode of Market Insights, Apartments.com.au CEO Mike Bird sits down with David Lamond, founder of <a href="/project-marketer/noorden">Noorden Real Estate</a>, to discuss&nbsp;<a href="/buildings/duke-apartments-collingwood-93-wellington-street-collingwood">Duke Apartments</a>.

[smartcode_project:default project_id=5366 project_image_fid=61085]

Lamond emphasises the appeal of the Duke's design, particularly for those who value privacy and lower operating costs.

Unlike many developments that feature extensive amenities like gyms and pools, Duke focuses solely on the apartments themselves, keeping body corporate fees manageable and suiting buyers who don't want a full suite of integrated amenity, or those who are treating the apartment as lock up and leave due to wanting to travel.

The Duke's design is a passion project for the architects at <a href="/architects/dp-toscano">DP Toscano</a>, who are also the developers.

Located just around the corner from their Collingwood office, Lamond says Duke is a project that is close to their hearts.

The apartments are designed to blend the raw, industrial feel of <a href="/developments/collingwood-vic-3066">Collingwood</a> with high-end luxury, featuring concrete ceilings, generous living spaces, and floor-to-ceiling windows that flood the interiors with natural light.

<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/EAGhh9LsJTg?si=vwcs0bYS9cy0kZ1p" title="YouTube video player" width="560"></iframe>

Each apartment offers three bedrooms, two bathrooms, and a private lift that opens directly into the residence, emphasising the project's commitment to security and exclusivity.

Duke has already attracted significant interest, with four of the nine apartments sold. The buyers include both local downsizers and Australians living abroad who are looking for a Melbourne base.

Construction by Hamilton Marino is well underway, with completion expected by November, just in time for the new owners to move in before Christmas.

[smartcode_project_cta:default project_id=5366]

Construction of Duke apartments is well underway, with completion expected by November, just in time for the new owners to move in before Christmas

Michael Bird

What a buyer needs to know about Collingwood's Duke Apartments: Five minutes with Noorden's Dave Lammond

Noetic Place is the latest luxury off the plan apartment development taking shape in the heart of Bayside.&nbsp;

Designed by <a href="/architects/fk-australia">Fender Katsalidis</a>&nbsp;on the fringe of the centre of Hampton, Noetic Place will feature just 33 two, three, and four-bedroom apartments, some of the largest in the area.

The stepped facade and attention to detail create a sophisticated yet welcoming presence on the tree-lined service street.

Inside, the apartments are designed for modern living, with free-flowing spaces that open to generous balconies offering views of the city, national park, or bay.

<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/pUNfJPHjPGg?si=52Zl2rhWICmxCbqO" title="YouTube video player" width="560"></iframe>

The communal amenities at <a href="/new-apartments/noetic-place-hampton-28-34-service-street-hampton">Noetic Place</a> are centred around lush landscaping by <a href="/landscape-architect/eckersley-garden-architecture">Eckersley Garden Architecture</a>. A pavilion with a kitchenette, dining space, and library will be nestled in the garden, offering a private retreat for residents.&nbsp;

We visited Noetic Place's display suite at 354 Hampton Street to offer a glimpse into what Noetic Place will bring to the vibrant <a href="/developments/hampton-vic-3188">Hampton</a> community.

[smartcode_project_cta:default project_id=134934]

We visited Noetic Place's display suite at 354 Hampton Street to offer a glimpse into what Noetic Place will bring to the vibrant Hampton community.

Inside Hampton's newest apartment development, Noetic Place: Urban video display suite tour

Rosella, the only new apartment development in Melbourne's&nbsp;<a href="/developments/murrumbeena-vic-3163">Murrumbeena</a>, is gathering significant traction in both its sales and construction.

Over half of the 70 apartments have already sold in the Rosella Street project by <a href="/developers/damgar-group">Damgar Property Group</a> which is slated for completion in late 2025.

<a href="/new-apartments/rosella-murrumbeena-50-rosella-street-murrumbeena-vic-3163">Rosella</a>, designed by <a href="/architects/cera-stribley-architects">Cera Stribley</a> and ideally located across the road from Hughesdale Station and Hughesdale Village, presents a rare opportunity to buy brand new in the south-east Melbourne suburb.

Only 100 new apartments were delivered between the 2016 and 2021 census, primarily due to a scarcity of development sites.

[smartcode_project:default project_id=142221 project_image_fid=288651]

<a href="/architects/cera-stribley-architects">Cera Stribley</a>&nbsp;crafted Rosella's facade to feature a combination of rough-cast concrete, dark terrazzo, and warm copper accents.&nbsp;

The idea was to mirror the curves of the underpasses at Hughesdale Station, while also using different materials and tones to differentiate the ground-level podium, which will be home to several commercial tenancies, with the residential component above.

The curved facade informs the interiors of each apartment, with visually appealing curved interior walls, a feature more commonly found in higher-end apartment developments.

[smartcode_project:default project_id=142221 project_image_fid=288652]

The apartments have open plan kitchen, living and dining spaces that open to large terraces.

At seven levels, Rosella will be one of the tallest buildings in the area, so Cera Stribley has created a communal rooftop space with outdoor kitchen and alfresco dining that will offer views over the neighbouring suburbs and back to Melbourne.

[smartcode_project:default project_id=142221 project_image_fid=288656]

Rosella residents will be on the doorstep of Hughedale Village which has several cafes, a wine bar, The O.C Public Bar and Hellenic Depot across the road.

Within a three-minute drive is Chadstone Shopping Centre, the biggest shopping centre in Australia.

Builder Markscon is progressing well with construction. Buyers are expected to move in before Christmas 2025.

[smartcode_project_cta:default project_id=142221]

&nbsp;

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