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.

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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."

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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.

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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.

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<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

Boutique property developer Kervale's completed Brighton apartment development, ESSENCE, has only one penthouse remaining.

The remaining penthouse is part of <a href="/buildings/essence-brighton-66-70-black-street-brighton">ESSENCE</a>'s Lux Living Collection, which includes four penthouses ranging from 200 sqm to 400 sqm with outdoor areas.

The available penthouse features a modern open-plan living space extending to a spacious terrace for outdoor entertaining.&nbsp;

[smartcode_project:default project_id=112893 project_image_fid=204990]

The interior includes a marble kitchen with an island bench and a master suite featuring a walk-in robe and an ensuite with a bathtub.&nbsp;

Secure car parks and a private storage room complete the unit.

Designed by the renowned <a href="/architects/bruce-henderson-architects">Bruce Henderson Architecture &amp; Interiors</a>, ESSENCE comprises 22 completed apartments spread across two distinct wings divided by a central courtyard.

The development includes 18 two or three-bedroom apartments with two bathrooms and two car parks, while the upper penthouse has four bedrooms and the remaining boasts three bedrooms, three bathrooms and three car parks.&nbsp;

<a href="/developers/kervale">Kervale</a> has smashed the <a href="/developments/brighton-vic-3186">Brighton</a> price record for selling the four-bedroom penthouse off-the-plan within its ESSENCE project for $10.2 million, equating to a whopping $22,000 sqm rate.&nbsp;

“The four-bedroom penthouse is the jewel in the crown, it has all the elements often reserved for an expansive house and truly is the epitome of luxury living in Brighton,” Kervale Sales Director Michael Ryan said.&nbsp;

Kervale Development Director, Stephen Horn said the sales were evidence the luxury apartment market is still thriving.&nbsp;

“The Brighton market is still thriving with buyers eager to capitalise on the limited new quality-focused stock hitting the market,” Horn said.&nbsp;

“ESSENCE offers a number of unique factors and features not available in nearby developments and the boutique nature of the project is highly appealing. This has led to a varied buyer demographic, ranging from young professionals to downsizers.”

[smartcode_project:default project_id=112893 project_image_fid=204989]

Located beneath the ground floor is a secluded set of amenities, including a private residents' area with a wine cellar, residents lounge area, private dining room, kitchenette, billiards table, and private gym and yoga studio.

Graham Morrison, Managing Director and Corporate Director of Bruce Henderson Architects, said the amenities on offer are reminiscent of a 6-star hotel.

“The idea behind the design was to be able to provide people with large homes to be able to downsize but still have the facilities they’re used to. In some cases they haven’t experienced this level of comfort before,” Morrison said.

In the parking area, amenities such as electric vehicle charging points, pet grooming facilities, bicycle storage, golf club lockers, and a car washing station make ESSENCE living unparalleled in terms of convenience.

[smartcode_project_cta:default project_id=112893]

Designed by the renowned Bruce Henderson Architecture & Interiors, ESSENCE comprises 22 completed apartments spread across two distinct wings divided by a central courtyard

Staff Writer

One penthouse remaining in ESSENCE Brighton

National developer&nbsp;<a href="/developers/equire">Equire</a>&nbsp;has started to welcome off the plan apartment buyers into its recently completed Ivanhoe apartment development,&nbsp;<a href="/new-apartments/locale-ivanhoe-1023-heidelberg-road-ivanhoe">Locale</a>.

Construction firm&nbsp;<a href="/builders/balmain-co">Balmain &amp; Co</a>&nbsp;recently finished off the build of the <a href="/architects/dko-architecture">DKO Architecture</a>-designed building at 1023 Heidelberg Road, next to Darebin Station.

The development is home to&nbsp;44 apartments, characterised by open-plan layouts and high-quality finishes, including stone-topped Miele appliances and integrated fridge-freezers.

[smartcode_project:default project_id=8748 project_image_fid=274671]

Each apartment extends onto either a courtyard, terrace or balcony, blurring the lines between indoor and outdoor living, while double glazing and heating and cooling ensure comfort year-round, along with energy efficiency.&nbsp;

Located just nine kilometres from the CBD, residents are strategically placed to take in all the city centre has to offer, along with the best of <a href="/developments/ivanhoe-vic-3079">Ivanhoe</a>, including shops, cafes, restaurants, schools, public transport and lush parklands.

Completed two-bedroom apartments start from $760,000.

[smartcode_project_cta:default project_id=8748]

Locale is home to 44 apartments, characterised by open-plan layouts and high-quality finishes, including stone-topped Miele appliances and integrated fridge-freezers

Equire and Balmain & Co complete Ivanhoe apartment development, Locale

The development site of the recently launched The Highlander, one of the first Melbourne CBD towers to be launched for several years, has hit the market.

The 352 sqm site&nbsp;at <a href="/new-apartments/the-highlander-melbourne-490-flinders-street-melbourne">490 Flinders Street</a>&nbsp;and 1-9 Highlander Lane comes with approved plans for a 24-level tower designed by Metier 3.&nbsp;

[smartcode_project:default project_id=13067 project_image_fid=256355]

Singaporean investment firm Havenport Investments had been seeking to develop the building that has 35 apartments, a ground floor with a residential lobby, a cafe, retail spaces, a basement level with a car stacker for 10 vehicles, bicycle parking, and site services.

&nbsp;

&nbsp;

<a href="/project-marketer/colliers">Colliers</a> is expecting the site to sell for around $12 million.&nbsp;

&nbsp;

[smartcode_project:default project_id=13067 project_image_fid=256357]

Colliers, Head of Investment Services – Victoria, Matt Stagg, said the permitted project is well advanced, offering an approved building envelope, positioned to capitalise on the premium view lines over the Yarra River and the high-end amenity stemming from the Rialto precinct that is around 75 metres away.

“We expect both local and offshore build-to-sell developers to compete for the site, as apartment pre-sales rates are improving across Melbourne," Stagg said.

"Population growth estimates show Melbourne to have the largest forecast migration of all the capital cities in Australia in the next 10 years”.&nbsp;

&nbsp;

Colliers is expecting the site at 490 Flinders Street and 1-9 Highlander Lane to sell for around $12 million.

The Highlander, Melbourne development site hits the market

Balmoral Quay, one of the first residential developments in Rippleside in decades, has completed construction.

Ireland Brown Constructions recently completed the third and fourth stages of the Liverpool Street,&nbsp;<a href="/developments/rippleside-vic-3215">Rippleside</a>&nbsp;development, next to Balmoral Quay Marina.

Stages three and four comprise 44 two-level townhouses and 17 apartments.

The completion of <a href="/buildings/balmoral-quay-rippleside-43-liverpool-street-rippleside">Balmoral Quay</a>, which has been described as a "labour of love" by the developers, comes as the final release of sought-after waterfront homes, with only a limited number of ready-to-move-in units still available for sale.

[smartcode_project:default project_id=34180 project_image_fid=255187]

Designed by internationally acclaimed <a href="/architects/sjb-architects">SJB Architects</a>, the residences feature large, open-plan living spaces meeting terraces or balconies, and panoramic views across Corio Bay.

&nbsp;

Balmoral Quay is strategically located near <a href="/new-townhouses/geelong-vic-3220">Geelong</a>'s CBD, offering convenient access to urban amenities while also providing a serene environment with lush green parks nearby.

The harbourside residences at Balmoral Quay start at $1.785 million, while the parkside residences start from $1.95 million.

McGrath Projects is the project marketer handling sales at Balmoral Quay.

[smartcode_project_cta:default project_id=34180]

The harbourside residences at Balmoral Quay start at $1.785 million, while the parkside residences start from $1.95 million

Final residences remaining as Balmoral Quay Rippleside finishes construction

Moonee Ponds is one of Melbourne's most walkable neighbourhoods.

There are significant amenities in the heart of the suburb, which include transport, retail, cafes, dining,&nbsp; and the renowned Moonee Valley Racecourse just a short walk from the village.

<a href="/developers/giancorp-property-group">Giancorp Property Group</a>&nbsp;were well aware of the walkability of the area when they secured a prime site at 6-14 Young Street where they've recently completed <a href="/buildings/penny-lane-moonee-ponds-6-14-young-street-moonee-ponds">Penny Lane</a>.

The project has an unbeatable WalkScore of 99 from WalkScore.com. Everything anyone could need is on the doorstep.

&nbsp;

[smartcode_project:default project_id=1676 project_image_fid=268942]

A three-minute walk down Young Street is&nbsp;the closest Woolworths, next door to Moonee Ponds Central that homes an ALDI, Anytime Fitness, Subway and several other hospitality venues.

Puckle St is just 200 metres away, with more cuisine restaurants and cafes reflective of Melbourne's famed laneway culture. Just off Puckle Street is the Moonee Ponds Station, an eight-minute walk from Penny Lane.

At the heart of Moonee Ponds is the newly established Palace Cinemas complex, boasting state-of-the-art facilities that promise an immersive cinematic experience.&nbsp;

[smartcode_project:default project_id=1676 project_image_fid=268934]

Ideally located at the heart of the city’s iconic racing district, Penny Lane is located a nine-minute walk from Moonee Valley Racecourse, the home of one Australia’s most prestigious horse race, the W.S. Cox Plate. The Melbourne Cup Carnival, held at Flemington Racecourse, is also within close reach, highlighting the area's vibrant sporting culture.

Just 500 metres away from Penny Lane and the bustle of <a href="/developments/moonee-ponds-vic-3039">Moonee Ponds</a> is Queens Park – Moonee Valley’s oldest and finest park, with a lake, a pool, a cottage café, and expansive exotic gardens.

&nbsp;

[smartcode_project:default project_id=1676 project_image_fid=268938]

Families will also enjoy the convenience of primary and secondary schools within 900 metres from Penny Lane, starting with Ascot Vale Primary School just 400 metres from home, St Monica's Primary School, Moonee Ponds Primary School, Lowther Hall Anglican Grammar School, and St Columba's College.

Designed by <a href="/architects/clarke-hopkins-clarke-0">Clarke Hopkins Clarke Architects</a>, Penny Lane comprises a total of 109 ready-to-move-in apartments, each offering generous balconies or terraces. It is also the focus on longevity, spatial planning, and environmental credentials that sets Penny Lane apart.

[smartcode_project_cta:default project_id=1676]

The project has an unbeatable WalkScore of 99 from WalkScore.com. Everything anyone could need is on the doorstep

Why Penny Lane apartments secured a 99 Walk Score in the heart of Moonee Ponds

It was a strong April for new apartment developments launching in Melbourne, with buyers offered up six new developments to talk about.

It's still far away from what's required, with both building approvals and completions at record lows, at a time when Melbourne is the fastest-growing city in terms of population.

The last update from the ABS saw Melbourne's population grow 167,500 people in 2022-23, above Sydney's 146,700.

There continues to be a large imbalance between new apartment developments being submitted, approved, and built, against the thousands heading to Melbourne to call it home. The demand is coming to the <a href="/developments/melbourne-vic">Melbourne off the plan apartment market</a>, and supply isn't.

We've wrapped up the six apartment developments that launched across Melbourne in April.

<h2>Project: Drummond House</h2>

<h3>Address: 482-492 Drummond Street, Carlton VIC 3053</h3>

<h3>Developer:&nbsp;Bensons Property</h3>

Longtime&nbsp;Melbourne&nbsp;developer&nbsp;<a href="/developers/bensons-property-group" target="">Bensons</a><a href="/developers/bensons-property-group">&nbsp;Property</a> has lifted the lid on their new&nbsp;<a href="/developments/carlton-vic-3053">Carlton apartment&nbsp;development</a>, Drummond House.

<a href="/new-apartments/drummond-house-482-492-drummond-street-carlton">Drummond House</a>, located in the heart of Carlton and on the fringe of Princes Park, has been designed by&nbsp;renowned architecture firm&nbsp;<a href="/architects/fk-australia">Fender Katsalidis</a>&nbsp;and is the only fully electric building in Carlton.

It will&nbsp;rise 13 levels and offer a mix of two, three and four-bedroom apartments with interiors by&nbsp;<a href="/interior-designers/sora-interior-architecture-design">SORA Interior Architects</a>.

<img alt="Launch Alert: Bensons reveal new Carlton apartment development, Drummond House" 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/field/image/Drummond%20House.png?VersionId=3SexcQgzKki8AZtsdnUC9FGJTAymGnS." />

The amenities offered at Drummond House include a wellness centre featuring a gym, salt room, sauna, and ice bath, along with additional areas such as private dining spaces, a kids' play area, and a business centre.&nbsp;

<a href="/builders/balmain-co">Balmain &amp; Co</a>&nbsp;has been appointed builder for Drummond House.

<h2>Project: Sculpt Hawthorn</h2>

<h3>Address: 43 Riversdale Road, Hawthorn VIC 6103</h3>

<h3>Developer:&nbsp;Monolith Projects</h3>

The market for off the plan apartments is so tight in&nbsp;<a href="/developments/hawthorn-vic-3122">Hawthorn</a>, the upcoming launch of Sculpt by Monolith Projects will make it the only off the plan development on the market in the sought-after inner&nbsp;<a href="/developments/melbourne-vic" target="">Melbourne</a>&nbsp;suburb.

Sculpt, crafted in&nbsp;collaboration with acclaimed design teams&nbsp;<a href="/interior-designers/mim-design">Mim Design</a>,&nbsp;<a href="/architects/parallel-workshop-architecture">Parallel Workshop</a>, and&nbsp;<a href="/architects/jack-merlo">Jack Merlo</a>, comprises just 18 two, three, and four-bedroom apartments in a&nbsp;<a href="/new-apartments/sculpt-hawthorn-43-riversdale-road-hawthorn-vic-3122">low-rise building on Riversdale Road</a>.

[smartcode_project:default project_id=144271 project_image_fid=270343]

Crowning Sculpt is the penthouse residence featuring palatial open-plan living areas beneath high ceilings and a stately kitchen.

Underpinned by an innovative design vision, Sculpt is also thoughtfully designed with sustainability at the forefront, with plans for a 10 kW Solar PV system on the rooftop, provision for AC electric vehicle charging, a 27kL in-ground rainwater tank for stormwater collection, and a comprehensive waste management system.

<h2>Project: No.1 Camberwell</h2>

<h3>Address: 1 Cooloongatta Road, Camberwell VIC 3124</h3>

<h3>Developer:&nbsp;Burbank Urban</h3>

Builder developer <a href="/builders/burbank-urban">Burbank Urban</a> has launched a limited release of homes in its new townhouse development in the heart of <a href="/developments/camberwell-vic-3124">Camberwell</a>.

<a href="/new-townhouses/no-1-camberwell-1-cooloongatta-road-camberwell">No.1 Camberwell</a> comprises 16 three and four-bedroom free-standing and semi-detached homes starting from $2.3 million.

<img alt="Burbank Urban launch No.1 Camberwell townhouses" 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/No.1%20Camberwell%20back.jpg?VersionId=SGlqEV0Ro2yGpAcEjPKPU_jT3xBPoZSU" />

Designed by <a href="/architects/genton">Genton</a>, each home at No.1 Camberwell showcases a rare proposition in a premium location - unique architectural style, premium finishes, and diverse floor plans.

More than half of the homes sit on large corner lots with spacious courtyards and multiple perspectives, while over half of the 5,000 sqm plus site at 1 Cooloongatta Road, just off Riversdale Road, is dedicated to greenery and open space.

<h2>Project: Napier 235</h2>

<h3>Address: 235 Napier Street, Fitzroy VIC 3065</h3>

<h3>Developer:&nbsp;Romano Property Group (RPG)</h3>

<a href="/developers/romano-property-group">Romano Property Group</a> has unveiled its latest project, the Napier 235 apartment development, situated in the heart of <a href="/developments/fitzroy-vic-3065">Fitzroy</a>.&nbsp;

The fully integrated property developer led by Maurice Romani has launched <a href="/new-apartments/napier-235-235-napier-street-fitzroy">Napier 235</a>, a boutique project of just 14 two and three-bedroom apartments named after its ideal location at 235 Napier Street, near the Napier Hotel and Fitzroy's thriving hospitality scene.

<img alt="New Fitzroy apartment development, Napier 235, launches" 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/field/image/Napier%20235.jpg?VersionId=v9enxl9vGdz3Wwv35X76e6rcJ0LjVyIY" />

Designed by&nbsp;<a href="/architects/ewert-leaf">Ewert Leaf</a>, Napier 235 features sculptural geometric exteriors that blend with the lush green surroundings landscaped by&nbsp;<a href="/landscape-architect/florian-wild">Florian Wild</a>.&nbsp;

Napier 235 is recognised for its sustainability efforts, ranking in Victoria's top five per cent for sustainable developments as per Victorian Planning Policy benchmarks.

<h2>Project: Ancora at Collins Wharf</h2>

<h3>Address: 971 Collins Street, Docklands VIC 3008</h3>

<h3>Developer:&nbsp;Lendlease</h3>

Following the success of its most recent Collins Wharf apartment tower, <a href="/new-apartments/regatta-at-collins-wharf-docklands-951-collins-street-docklands">Regatta</a>, ASX-listed developer <a href="/developers/lendlease-development">Lendlease</a> has unveiled Ancora.

“<a href="/new-apartments/ancora-at-collins-wharf-docklands-971-collins-street-docklands-vic-3008">Ancora at Collins Wharf</a> is the next stage of our ongoing commitment to deliver more housing in prime locations in Melbourne, with the precinct stretching the city’s famed Collins Street further westwards to engage with the water, connecting its maritime past with the contemporary vibrancy of the city,” Daniel Dugina, Executive Director of Development at Lendlease, said.

<img alt="Lendlease unveil latest Collins Wharf apartment tower, Ancora" 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/Screen%20Shot%202024-04-30%20at%208.06.02%20pm_0.png?VersionId=GOqhtremg4Py0hZrXpGO6wTpLbPektmi" />

<a href="/architects/warren-and-mahoney">Warren and Mahoney</a> have been engaged again to design Ancora, a 28-level tower with 303 residences that offer uninterrupted views of either Victoria Harbour towards the city or the Yarra River across to Port Phillip Bay.

Ancora residents will enjoy a hotel-style lobby with concierge service, a private dining room to entertain guests, and the lush, landscaped surrounds of two rooftop terraces located at level four and level 16 with panoramic views, plus a winter garden.

Construction of Ancora is set to commence later this year and is anticipated to be completed in 2027.

<h2>Project: New Johnston</h2>

<h3>Address: 398 Johnston Street, Abbotsford VIC 3067</h3>

<h3>Developer:&nbsp;DCF Property</h3>

It's been four years since <a href="/developments/abbotsford-vic-3067">Abbotsford</a>, in Melbourne's inner north-east, has seen a new apartment development launch.

Abbotsford's newest project, <a href="/new-apartments/new-johnston-abbotsford-400-johnston-street-abbotsford-vic-3067">New Johnston</a> by <a href="/developers/dcf-property">DCF Property</a>, sits at 398 Johnston, near Victoria Park Station and Victoria Park. It will comprise 46 one, two, and three-bedroom apartments across nine levels, on top of ground-level retail spaces.

[smartcode_project:default project_id=110322 project_image_fid=259891]

Designed by MA+CO Architects, New Johnston's architecture took inspiration from Abbotsford's industrial heritage, incorporating concrete, red brickwork, and metal detailing reminiscent of the area's historic warehouses.&nbsp;

With a WalkScore of 90, New Johnston's location offers residents easy access to a range of amenities, including the Yarra River, Victoria Park, and prestigious schools.

The demand is coming to the Melbourne off the plan apartment market, and supply isn't

Every new Melbourne apartment development launched in April

Cranes working on residential developments in Melbourne grew in the first quarter of 2024.

The latest edition of the Q1 2024 RLB Crane Index® reveals a measured uptick in crane activity across <a href="/developments/melbourne-vic">Melbourne</a>, with a 14 per cent rise in residential crane numbers compared to Q3 2023. The total number of residential cranes jumped from 94 to 107.

While heading in the right direction, only two of Melbourne's six main regions recorded gains in crane numbers. Melbourne's north is booming, with 26 cranes added, while there were five added to Melbourne's east.

There's been a jump in large development sites in Melbourne's north which command multiple cranes.&nbsp;

There are now&nbsp;three cranes at HOME in Alphington, two each at Glenvill's&nbsp;<a href="/new-apartments/yarrabend-alphington-57-parkview-road-alphington">YarraBend</a> in <a href="/developments/alphington-vic-3078">Alphington</a>, Ballarat Street in Brunswick, <a href="/buildings/pace-3058-coburg-9s-wardens-walk-coburg">PACE 3058</a> in <a href="/developments/coburg-vic-3058">Coburg</a> and Hamton's Moonee Valley Park in <a href="/developments/moonee-ponds-vic-3039">Moonee Ponds</a>.

[smartcode_project:default project_id=24822 project_image_fid=254449]

The residential sector continues to dominate crane activity in Melbourne, accounting for 55 per cent of all cranes in the city. While an uptick quarter on quarter, the total number of cranes is still five per cent lower than it was this time last year.

Most residential sub-sectors saw lower activity in 2023, with apartments down by 10.8 per cent and new houses down slightly by 0.4 per cent.

A total of 55 cranes were added to residential sites over the past six months, and 42 cranes were removed.

Despite being two of Australia's most populated cities, Sydney has 196 more cranes in the sky than <a href="/new-apartments/melbourne-vic">Melbourne</a>, which is contributing to the huge undersupply of new property in the Victorian capital.

Inner Melbourne recorded the same number of cranes as Q3 2023.

A total of 38 new cranes were added and the same number of cranes were removed. The residential, commercial and civil sectors each have more than 10 cranes. The sites with the most cranes in inner Melbourne are <a href="/new-apartments/seafarers-docklands-731-flinders-street-docklands">Seafarers</a> by <a href="/new-apartments/docklands-vic-3008">Riverlee</a> in <a href="/developers/riverlee">Docklands</a>, Melbourne Quarter Tower by Lendlease and Local: Kensington.

Despite being two of Australia's most populated cities, Sydney has 196 more cranes in the sky than Melbourne, which is contributing to the huge undersupply of new property in the Victorian capital

Residential crane numbers paint bleak supply picture for Melbourne apartment supply: RLB Crane Index Melbourne Q1 2024

For centuries, Australia's oldest prisons have taken up prime land across the country.

It's the case in Sydney's Eastern Suburbs where Long Bay jail occupies 32 hectares of prime eastern suburbs real estate that has long been touted as a potential to somewhat curb some of Sydney's crippling housing supply issue.

In Brisbane, there's the now-closed H.M. Prison Brisbane, more commonly known as Boggo Road Gaol, one of the most notorious prisons in the country before it closed its doors in the 1980s. That still sits on a prime near 10-hectare block of land in Dutton Park, just south of the city and on the fringe of Woolloongabba, the focal point of the 2032 Brisbane Summer Olympics.

The Melbourne Assessment Prison is located in one of the most sought-after and busy spots in the heart of the Victorian capital, straddling both Spencer and La Trobe Streets in the heart of the city.

These prisons sit on blocks of land that will likely never be traded, which is why when the HMAS Pentridge Prison in Coburg shut down operations in the late 1990s, astute developers swooped on the 6.7-hectare parcel which is located near the centre of <a href="/developments/coburg-vic-3058">Coburg</a>.

One of those developers was Pace, who secured a site that was formerly the exercise yard of the prison. The site Pace acquired left them with a relatively blank canvas compared to some other developers who bought parts of the prison which had to be retained as part of the redevelopment.

[smartcode_project:default project_id=24822 project_image_fid=254327]

While not having to follow strict heritage rules, architecture firm <a href="/architects/sjb-architects">SJB Architects</a> still looked to the old prison for inspiration.

"You see the old bluestone walls and you want to embrace its history," former SJB Director Tristan Wong said.

"It's so important, and it is a special part of Coburg's history. Those memories are still there and very visible, but there's now just this much more, community-focused, locally-inspired project. it's like it's had this rebirth or regeneration of its former youth."

[smartcode_project:default project_id=24822 project_image_fid=254339]

Pace will soon be welcoming residents to&nbsp;<a href="/buildings/pace-3058-coburg-9s-wardens-walk-coburg">Pace 3058</a>, a collection of 311 apartments and townhouses&nbsp;that are slated for completion in the coming months.

The location has been a major driver in interest given it's just 13-minute walk from Coburg Station and the town centre.

Nestled behind Sydney Road, Pace 3058 is surrounded by expansive parklands, bike trails, and a diverse selection of restaurants and cafes.

The nearest park,&nbsp;Coburg Lake Reserve, is&nbsp;only an eight-minute stroll from Pace 3058, offering picnic areas, playgrounds, barbecue facilities, and walking and bike paths surrounding the lake.&nbsp;There is also a Palace Cinemas within a five-minute walk of Pace 3058.

[smartcode_project:default project_id=24822 project_image_fid=254321]

Jackson Reserve, a busier recreational park, featuring&nbsp;an off-leash dog area,&nbsp;a playground, an adjoining basketball stadium, and a track and field oval&nbsp;is just a quick five-minute drive away.

Several retail and dining options also surround the development, starting with The Boot Factory across the street, The Glass Den towards the rear of the property, and O’Hey Cafe an eight-minute walk away.&nbsp;

Moreover, residents are only a three-minute walk to Coburg Farmers’ Market, five minutes to Ritchies IGA Fine Food and Wine Merchants, and just within a kilometre from the closest Woolworths and Coles.

[smartcode_project:default project_id=24822 project_image_fid=254326]

Completing the ideal location checklist for family buyers, Pace 3058 not only offers proximity to parks, playgrounds, retail, and dining options but also sits just 400 metres from Coburg Primary School and 850 metres from Coburg High School.

Health services are also nearby, with Merri Health only an eight-minute walk, and Harding Street Medical Centre, a five-minute drive away from Pace 3058.

Prospective buyers can choose from one, two, and three-bedroom DDA-compliant apartments, as well as double-storey three-bedroom townhouses.

[smartcode_project_cta:default project_id=24822]

Australia's inner-city prisons and their potential for new apartment development

For a second month in a row, Melbourne's unit market outperformed houses, a trend now being noticed across the majority of capital cities throughout Australia.

Values of units in Melbourne (which incorporates both apartments and townhouses), grew by 0.1 per cent,&nbsp;according to data from property data analytics firm CoreLogic's Monthly Hedonic Index.

While only modest growth, houses in <a href="/new-apartments/melbourne-vic">Melbourne</a> went backward -0.2 per cent. Melbourne units are outperforming houses over the rolling quarter, up 0.4 per cent in the last three months compared to a -0.3 per cent decline in the house market.

The median value of units in Melbourne currently stands at $613,000.

<h2>What happened in Melbourne's off the plan apartment market in April?</h2>

While Melbourne is continuing to suffer from chronic undersupply of new property, there was a bit of activity over April with new stock coming to market.

<a href="/developers/beulah">Beulah</a> shifted their attention to Brunswick having now sold over 80 per cent of their landmark STH BNK by Beulah tower. They unveiled a new boutique townhouse development,&nbsp;<a href="/new-townhouses/brunswick-established-23-hodgson-st-brunswick-vic-3056">Brunswick Established</a>,&nbsp;which they're pitching as "future-proofed and multi-generational."

[smartcode_project:default project_id=136451 project_image_fid=274274]

Comprised of 23 two-storey townhouses, Brunswick Established offers multiple typologies of townhomes to suit different living requirements, allowing residents to grow in place - the majority include ground-floor bedrooms for accessibility while others provide a detached room separated by a courtyard.&nbsp;

Spanning a large 3,705 sqm site and designed by leaders in social and sustainable architecture Six Degrees Architects, Brunswick Established will also feature verdant common spaces inspired by traditional London Mews design, including a private laneway, landscaped courtyards and rooftop terraces.

[smartcode_project:default project_id=136451 project_image_fid=270371]

There was a rare launch of new apartments in&nbsp;<a href="/new-apartments/hawthorn-vic-3122">Hawthorn</a>&nbsp;in April. The new Riversdale Road project, <a href="/new-apartments/sculpt-hawthorn-43-riversdale-road-hawthorn-vic-3122">Sculpt</a>, is&nbsp;the suburb's only off the plan apartment development currently in the market.&nbsp;

Crafted in collaboration with acclaimed design teams <a href="/interior-designers/mim-design">Mim Design</a>, <a href="/architects/parallel-workshop-architecture">Parallel Workshop</a>, and <a href="/architects/jack-merlo">Jack Merlo</a>, Sculpt comprises just 18 two, three, and four-bedroom apartments in a low-rise building near Fairview Park.

[smartcode_project:default project_id=144271 project_image_fid=270343]

<a href="/new-apartments/caulfield-north-vic-3161">Caulfield North</a> saw the launch of <a href="/new-apartments/reverie-caulfield-79-89-hawthorn-road-caulfield-north">Reverie</a> which sold 30 per cent of its 34 two and three-bedroom apartments quickly.

Award-winning <a href="/architects/bg-architecture">BG Architecture</a> have teamed with acclaimed interior design firm, <a href="/interior-designers/hecker-guthrie">Hecker Guthrie</a>, to design Reverie, divided into three levels; The Penthouse Level, The Sanctuary Levels, and The Podium — offering panoramic bay and city views in the Penthouse Level to spacious balconies overlooking Caulfield Park and the city skyline in the Sanctuary Levels.

[smartcode_project:default project_id=144513 project_image_fid=269496]

<a href="/developers/bensons-property-group">Bensons Property</a> also has a new project in the market. <a href="/new-apartments/drummond-house-482-492-drummond-street-carlton">Drummond House</a> in <a href="/new-apartments/carlton-vic-3053">Carlton</a>, comprising a mix of two, three and four-bedroom apartments across 13 levels, will be Carlton's first fully electric building.

Drummond House will target an 8.7-star energy rating, aligning itself with modern sustainability standards.

<img alt="Launch Alert: Bensons reveal new Carlton apartment development, Drummond House" 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/Drummond%20House%20Cinema.png?VersionId=EC80lxoXwR6WByYDuwtLNIwhQ6RkemrV" />

<a href="/builders/lendlease-building">Lendlease</a> revealed their latest stage of Collins Wharf off the back of the success of its most recent apartment tower, <a href="/new-apartments/regatta-at-collins-wharf-docklands-951-collins-street-docklands">Regatta</a>, which is now 80 per cent sold.

<a href="/architects/warren-and-mahoney">Warren and Mahoney</a> have been engaged again to design their new tower, <a href="/new-apartments/ancora-at-collins-wharf-docklands-971-collins-street-docklands-vic-3008">Ancora</a>, a 28-level tower with 276 one, two and three-bedroom apartments that offer uninterrupted views of either Victoria Harbour towards the city or the Yarra River across to Port Phillip Bay.

The Premier Collection comprises 27 residences across a range of townhouses, penthouses, and larger-scale apartments that will soon become available.

Ancora residents will enjoy a hotel-style lobby with concierge service, a private dining room to entertain guests, and the lush, landscaped surrounds of two rooftop terraces located at a level for and level 16 with panoramic views, plus a winter garden.

[smartcode_project:default project_id=9779 project_image_fid=263997]

While the supply of new apartments is still nowhere near enough to meet the demand, several new projects on the horizon will bring some more supply, none larger than a four-tower development in the Fishermans Bend precinct.

<img alt="First look exclusive: Citinova plot multi-tower development in Fishermans Bend" 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/field/image/Screen%20Shot%202024-04-19%20at%204.18.10%20pm.png?VersionId=eogu21v9z8UCqB3bNm08l5GSzxKbbgXs" />

The project, which is being managed by <a href="/developers/citinova">Citinova</a>, features a four-tower development that will bring over 1000 apartments to the chronically undersupplied Melbourne market.

The five-stage project will also include an unencumbered 3,075 sqm public open space.

Read more:&nbsp;<a href="/news/vic/first-look-exclusive-citinova-plot-multi-tower-development-in-fishermans-bend">First look exclusive: Citinova plot multi-tower development in Fishermans Bend</a>

<a href="/new-apartments/southbank-vic-3006">Southbank</a> is also set for a new tower with plans filed for a new 25-level tower.

<a href="/architects/fk-australia">Fender Katsalidis</a> has put together plans for the 188-apartment tower at 38 Clarke Street, on the corner of City Road and Clarke Street just behind Crown Melbourne.

In the medium-density space, prominent developers <a href="/developers/abadeen-group">Abadeen</a> and <a href="/developers/carpe-group">Carpe Group</a> were both active.

Abadeen lodged plans for their second apartment development in Melbourne having expanded from Sydney's Lower North Shore late last year.

Read more:&nbsp;<a href="/news/vic/first-look-abadeen-lodge-plans-for-second-melbourne-apartment-development">First look: Abadeen lodge plans for second Melbourne apartment development</a>

<img alt="First look: Abadeen lodge plans for second Melbourne apartment development" 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/field/image/Screen%20Shot%202024-04-17%20at%2011.05.29%20am.png?VersionId=79fVjZ.l2snAFEPFAw3RuGyQuZFmK7pW" />

Currently selling their debut project <a href="/new-apartments/malea-94-burke-road-malvern-east">Maléa</a> in <a href="/developments/malvern-vic-3144">Malvern</a> where they've recently appointed <a href="/builders/brompton-construction">Brompton Construction</a> to build the boutique project of just seven parkside apartments, Abadeen, led locally by Andrew Leoncelli, has filed for a four-level apartment development housing 26 apartments.

They had <a href="/architects/carr-design">Carr Design</a> design the four-level building to curve around a Smooth Bark Apple tree, immovable as it's listed as a national trust significant tree.

Fellow boutique developer Carpe Group secured the green light for two projects in Bayside. They're soon to launch The Coterie, 25 apartments in <a href="/developments/sandringham-vic-3191">Sandringham</a>, and 18 apartments in Hampton.

<a href="/new-apartments/the-coterie-sandringham-49-51-abbott-street-sandringham">The Coterie</a> will go first. That will home two and three-bedroom apartments in a Warren &amp; Mahoney-designed building at 49-51 Abbott Street, near Sandringham Station

<img alt="Carpe Group secure green light for two Melbourne apartment developments" 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/field/image/Screen%20Shot%202024-04-16%20at%208.38.06%20am.png?VersionId=lmqKqJjGajM8L4pPzeIzQ_bjThK3RGx0" />

Carpe's other Bayside project, in <a href="/developments/hampton-vic-3188">Hampton</a>, is another that's all about the location.

Strategically located one street back from the vibrant Hampton Street with all the retail, hospitality and Hampton Station. Carpe will launch 18 apartments at 8-10 Ocean Street, designed by <a href="/architects/martin-freidrich-architects">Martin Friedrich Architects</a> who will also handle the interiors.

Read more:&nbsp;<a href="/news/vic/carpe-group-secure-green-light-for-two-melbourne-apartment-developments">Carpe Group secure green light for two Melbourne apartment developments</a>

City Beat May 2024: Melbourne unit growth outstrips houses for second straight month

Buyer demand across the country is shifting to units as housing affordability continues to put a strain on budgets.

Research by property data analytics company CoreLogic shows worsening affordability, particularly in capital city markets where house prices have soared.

CoreLogic Economist Kaytlin Ezzy says demand is now tilting towards unit and apartment living due to affordability concerns, particularly in capital cities.

"House values surged nearly 40 per cent since March 2020, while unit values rose 17.9 per cent, indicating the widening gap between house and unit values," Ezzy says.

<img alt="House vs Unit growth" data-entity-type="file" data-entity-uuid="488729a0-d3ea-441b-952b-da4978c13edb" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2405_COTM.PNG?VersionId=J38cRtz3_VtXJL8a4njyWTPBtzxbrtDd" />

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Hobart is the only capital that saw stronger value growth in houses (0.8 per cent) compared to units (0.6 per cent) over the three months to April.

"Given the worsening affordability environment and the growing possibility that interest rates could be higher for longer, it's unsurprising that demand has skewed towards the more affordable unit sector," Ezzy added.

Over the three months to April, lower quartile dwelling values rose three per cent, more than twice the pace of upper quartile values (1.1 per cent), with growth conditions continuing to be skewed toward the more affordable section of the market.&nbsp;

Read more:&nbsp;<a href="/news/nsw/city-beat-may-2024-sydney-unit-growth-doubles-houses-in-april">City Beat May 2024: Sydney unit growth doubles houses in April</a>

Read more:&nbsp;<a href="/news/qld/city-beat-may-2024-gold-coast-unit-market-continues-to-surge">City Beat May 2024: Gold Coast unit market continues to surge</a>

Read more:&nbsp;<a href="/news/qld/city-beat-may-2024-brisbane-unit-growth-doubles-houses-in-april">City Beat May 2024: Brisbane unit growth doubles houses in April</a>

The prolonged high-interest rate environment has seen buyer demand continue to skew towards more affordable housing alternatives, with most capitals now recording stronger growth in the more affordable unit sector

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