Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Melbourne off the plan apartments

The sought-after suburb of <a href="/new-apartments/brighton-vic-3186">Brighton</a> is set to welcome its newest residential collection in June, with construction well underway on The Warriston. 
 
Named after its location at 21 Warriston Street, at the entrance to the popular Bay Street, <a href="/buildings/the-warriston-21-warriston-street-brighton">The Warriston</a> features a mix of two and three-bedroom apartments, from ground floor units with courtyards to penthouses with expansive terraces.

<a href="/architects/moull-murray-architects">Moull Murray</a> handled the architecture of The Warriston.

The façade, modulated with projecting balconies dripping with soft, integrated landscape planting and contemporary clean lines, is wrapped in robust dark face brick that's meant to age gracefully and become a landmark for Brighton.

[smartcode_project:default project_id=108879 project_image_fid=180003]

&nbsp;

The interiors have been designed by renowned interior designers Bailey Studio, who have worked on some of Melbourne's most luxurious residential properties.

Each residence is filled with natural light and features a neutral palette of high-quality, tactile finishes, including natural stone and oak timber flooring.

The living and dining areas centre around grand entertainer's kitchens featuring Miele appliances, while the master bedroom suites are designed as private sanctuaries, with&nbsp;expansive floor-to-ceiling glazing providing an abundance of natural light.

The suites offer wool carpeting, while the ensuites boast finishes and fixtures such as undermount sinks and natural stone benchtops.

Residents of The Warriston will also enjoy the convenience of security basement car parking, as well as additional storage facilities.

[smartcode_project:default project_id=108879 project_image_fid=180004]

The building's prime location means that all of Brighton's amenities, including cafes, bars, retail, the cinema, and the station, are on their doorstep, with Brighton Beach also just a short stroll away.

Castran Gilbert are handling the sales for the project, with prices starting from just over $1 million for a two-bedroom apartment.&nbsp;

[smartcode_project_cta:default project_id=108879]

Castran Gilbert are handling the sales for the project, with prices starting from just over $1 million for a two-bedroom apartment. 

alisonwarters@gmail.com

Under construction Brighton apartments, The Warriston set to welcome buyers in June 

Toorak has long been billed as Melbourne's most blue-chip suburb.

It's where the most expensive real estate in the state is located. A recent report by The Australian found there's more billionaires and millionaires in the 250 Rich List living in Toorak than any other suburb in Australia.

The majority of new apartment developments coming onto the market in Toorak generally start at $2 million, and are targeting either the local downsizer, or a downsizer from another neighbouring affluent suburb.

Given the suburb is dominated by families (over 60 per cent according to the latest census), there's been very little opportunity to secure new, or even near new, apartments built this side of even 2010, which makes the latest offering a rare proposition for those trying to enter the Toorak market.

A mix of one, two, three and four-bedroom apartments have been listed in Toorak Park, the $500 million masterplanned project which was delivered by the ASX-listed development giant Lendlease.

[smartcode_project:default project_id=377 project_image_fid=33603]

An international fund manager secured a number of apartments when the project was completed a few years ago, and is now deciding to sell the assets.

The 2.5 hectare project, aptly named Toorak Park given its located behind the leafy Toorak Park, was designed in collaboration between&nbsp;Denton Corker Marshall and Carr Design Group.

The 16 building-project features extensive landscaping by landscape architecture by Tract. Open space makes up about up a third of the development, which also features a&nbsp;bluestoned plaza with a convenience store and cafe, as well as communal gardens.

[smartcode_project:default project_id=377 project_image_fid=33593]

Denton Corker Marshall director John Denton said the practice took its cues from its local surroundings.

"We looked at the Beatty Avenue shops on one side of the lines and saw we could create a place with its own character on the other side," Denton said.

"We wanted to build a village within a village.

[smartcode_project:default project_id=377 project_image_fid=211687]

"We sought to open up access to the railway station and Beatty Avenue from Orrong Road by creating a central boulevard that is, in effect, a new leafy road in Armadale. The newest area in the neighbourhood will connect with one of the oldest."

There's extensive resident facilities, including a swimming pool and a gym.

Predominantly owner-occupied, Toorak Park sits in one of the area's most connected pockets, just across the road from Toorak Station and just off the lively Orrong Road.

Every one-bedroom apartment on offer has a car park, unheard of in the entry-level Toorak apartment market, which in itself has been unheard of for a number of years.

[smartcode_project_cta:default project_id=377]

A mix of one, two, three and four-bed apartments have been listed in Toorak Park, the $500 million masterplanned project which was delivered by Lendlease

Toorak Park: A rare opportunity to buy in Toorak's best residential village

While the RBA's interest rate hikes have hit current homeowners on variable mortgages and put a dampener on consumer sentiment, it's made prospective buyers deposits grow quicker than they have in years.

As banks pass on the mortgage rate increase to home loan customers, they're passing on the same interest rate hikes to those savers, which acts in the reverse to mortgage holders given savers don't actually owe the bank anything.

Some banks are offering saving rates upward of four per cent.

The luxury Melbourne developer, EBG Developments, is offering a unique incentive so buyers can get the best of both worlds.

[smartcode_project:default project_id=5495 project_image_fid=210547]

They're offering buyers at their under construction Martin Brighton apartment development a seven per cent interest rate on their deposit, which will last until the apartments are ready to move in, which will be early 2024.

Buyers have also been afforded a five per cent deposit, as opposed to the traditional 10 per cent.

Projects by Buxton Director Heath Thompson, who is handling the sales at Martin Brighton, says he hasn't seen an incentive like this before.

"A five per cent deposit of the entry-level $1,395,000 apartment is just shy of $70,000, so that could be around $5000 worth of interest a buyer could generate while waiting for the project to complete," Thompson says.

"For the three-bedroom buyers, the interest generated will be over $6,000, and can reach as high as $7,500, based on a five per cent deposit."

[smartcode_project:default project_id=5495 project_image_fid=190763]

Martin Brighton, which is now 40 per cent sold, has just 11 two and three-bedroom apartments, with interiors by the interior design doyenne Miriam Fanning's MIM Design.

Read more:&nbsp;<a href="/news/vic/the-design-behind-martin-brightons-latest-apartment-development-five-minutes-with-interior-designers-mim-design">The design behind Martin, Brighton's latest apartment development: Five minutes with interior designers, Mim Design</a>

“It was important that Martin residents experienced a true scale proportion that you would find in an individual home – size proportion and flow of planning were essential when delivering the design of Martin," Fanning told Urban.

Thompson says the project has proved popular with downsizers due to its unrivalled Brighton location.

[smartcode_project:default project_id=5495 project_image_fid=207670]

"The project is unique in the sense it has a Brighton postcode, but it offers a different lifestyle than what many perceive what living in Brighton is like," Thompson says.

"Martin Street is not about the bay or the beach, albeit they're less than two kilometres away from the project. It's more about the doorstep lifestyle that the Martin Street Village has.

"There's a community feel around Martin St which you don't really get from Bay or Church Street. It's more like Hampton Street was before the recent large scale development."

[smartcode_project_cta:default project_id=5495]

Projects by Buxton Director Heath Thompson, who is handling the sales at Martin Brighton, says he hasn't seen an incentive like this before

Martin Brighton buyers to earn generous 7% interest on deposit

RPM Group has spent years at the forefront of Australian property development.

It was only natural they would expand its off the plan project marketing space into the inner ring of Melbourne and Geelong at some point, having dominated the house and land&nbsp;and townhouse&nbsp;space since 1994.&nbsp;

The growing&nbsp;team is being led by industry veteran Nic Cuni, who has held Director roles at both Colliers and CBRE.

“Our focus is on off the plan apartment and townhouse projects;&nbsp;we have already secured several projects in key areas and the team is growing as a result,” Cuni commented.&nbsp;&nbsp;

Cuni says the opening of the metro project marketing arm was an inevitable step for the established company, who has built an extensive Research, Data &amp; Insights division since its inception.&nbsp;

He says the aim is to use RPM’s industry-leading research capabilities to help developers launch successful projects.&nbsp;

"We're in a unique position where we can collaborate with our Research, Data &amp; Insights division, which is industry leading, to help developers from the outset of their project journey," Cuni says.&nbsp;

"We can get up to the minute data from our in-house research department, which includes but isn't limited to, pricing, demographic, and migration. &nbsp;Our data-driven approach means we’re best equipped to generate the right product, right pricing, and, most importantly, right time and strategy to launch."&nbsp;

They've certainly timed the launch of Early 3191 well; the new Rothelowman and Adele Bates designed townhouse development in Sandringham.&nbsp;

[smartcode_project:default project_id=138081 project_image_fid=209564]

The first venture for DM Property, headed by Brendan Mullan and David Dordevic, Early 3191 has already generated in excess of 500 leads.&nbsp;

There are just 35 townhouses on offer in the community.&nbsp;

"We worked with Brendan and David to identify a gap in the market and determine the type of product that would resonate with buyers in that location," Cuni says.&nbsp;

"There's not many townhouses, if any, which are priced below $2 million in one of Bayside's most premium suburbs."

[smartcode_project:default project_id=138081 project_image_fid=209566]&nbsp;

RPM is preparing to launch DM's next project, 129 apartments in Geelong, an area Cuni knows well.&nbsp;

Before joining RPM, Cuni all but sold out Franze Developments' Ryrie Home, a mixed-use hotel and apartment project in downtown Geelong.&nbsp;

Cuni expects to see a similar demographic buying into 1 York Street, which attracts a "Melbourne-style apartment buyer."&nbsp;

"Young professionals were the most prominent buyer demographic at Ryrie, the majority being female," Cuni says.&nbsp;

"They want a safe and secure apartment, but also want the food and beverage precinct that central Geelong has to offer, rather than some of the larger home estates being built further inland. Additionally, the median price in Geelong’s CBD and surrounding suburbs are exceeding their budget. Most buyers want the postcode without the price tag”&nbsp;

Cuni says they've got good collaborators on board for 1 York Street.&nbsp;

"Rothelowman is again handling the design of the project, which will have 129 apartments across a six-level building, as well as nine commercial tenancies.&nbsp;

"It will bring another central opportunity for buyers, with extensive amenity literally at their doorstep."&nbsp;

DM secured the massive 3,453 sqm site, opposite the Quest hotel, last year.&nbsp;

RPM Managing Director of Project Marketing, Luke Kelly says “the expansion of our Project Marketing Division into Metro Melbourne and Geelong made complete sense; our sophisticated and diversified approach to the sales and marketing of projects for our clients is what sets us apart from the traditional project marketers in these areas.”

Read more:&nbsp;<a href="/news/vic/rothelowman-designed-townhouses-early-3191-to-bring-something-new-to-sandringham">Rothelowman-designed townhouses Early 3191 to bring something new to Sandringham</a>

The first venture for DM Property, headed by Brendan Mullan and David Dordevic, Early 3191 has already generated in excess of 500 leads

RPM Group launches Metro Project Marketing division with $50m townhouse development in Sandringham, Early 3191

2022 was an uncertain year in the property industry, as aggressive interest rate hikes by the Reserve Bank saw sentiment drop drastically, along with prospective buyers' budgets.

But award-winning developer Pace Development Group pushed on with a number of projects, and they're commitment to launching in what many felt was a tricky period has paid off in spades.

Ash Bramich, Sales and Marketing Director at Pace, said that there’s no point waiting around for the market to correct itself and bottom. 
 
“As long as developers are confident their product matches extensive research on the expected buyer demographic, then you’ve got to take the opportunity to get it in front of those buyers,” Bramich told Urban.

"Buyer demand has still very much been there.

"If you’re delivering a product which is what consumers are looking for, in quality suburbs, then you’ll achieve sales.

"We launched two projects [The Darley on Flemington Racecourse and Pace 3058 - Coburg] despite the headwinds in the property market, and now we're in a position to begin construction."

[smartcode_project:default project_id=24822 project_image_fid=254342]

There’s also the case of the issues surrounding demand v supply. Because of the lack of product on the market, Bramich says that, despite consumer sentiment taking a hit, there were still considerably more buyers out there than what was on the market.

The 5,100 apartments launched for sale across Melbourne in 2022 was the lowest number of launches recorded over the past decade, almost -80 per cent lower than the peak levels during 2014 and 2015, analysis by consultancy firm Charter Keck Cramer found.

Also at decade lows was the total number of apartments which began construction in 2022. Just 5,200 apartments started construction, -77 per cent lower than the 2015 peak of 22,500 apartments.

By generating sales last year,&nbsp; Pace have now started construction on both their Flemington and Coburg projects, which allows the team to offer greater buyer confidence during the sales process.

"We can now communicate to buyers two things; a clear sign the project is going ahead with works already underway, and a more accurate completion date of the build."

The Darley, which will comprise 313 apartments and is over 60 per cent sold, is forecast to complete construction by early-2025. Pace 3058 - Coburg has sold over 60 per cent of its 312 apartments. That's expected to be completed by mid-2024.

<img alt="The Darley Pace" data-entity-type="file" data-entity-uuid="e0681786-d13f-45d2-92bb-133f0771e13a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-03-14%20at%201.58.21%20pm.png?VersionId=TutHEmqnKBTJVHs34RoCzYqdT12Mv1EE" />The Darley on Flemington Racecourse. Image supplied

Bramich says he's never seen a market with such contrarian views.

"There's a lot of cyclical factors that are quite contrary and conflicting at the moment," Bramich says.

"On one side of the coin, you've got the headline issues around consumer confidence, increasing rates, cost of construction and difficult to predict completion timelines. On the other side however, unemployment is at record lows, immigration is going up and is forecasted to soar, particularly in Melbourne, and there's huge undersupply of apartments which always drives prices up," Bramich says.

Melbourne's population is forecasted to grow by 89,000 people in FY 2023, around 105,000 in FY 2024, and 101,000 in FY 2025, according to Plan Melbourne 2017-2050.

Charter Keck Kramer found that around 13,500 apartments need to be built each year in Melbourne to support the population growth. There were just 6,300 apartments completed in 2022 in Metro Melbourne, across 94 projects.

Bramich says inevitably the lack of supply will drive prices higher over the short term, and that will become long term if construction doesn't meet the forecasted population growth.

While interest rates have pinched the budgets of young professionals and investors, Bramich is seeing high demand from the downsizer demographic.

"There's a huge cohort of owner-occupiers with little debt or no mortgage, who are still ready to execute if there's product that ticks their boxes," Bramich says.

That's the target market for their upcoming Fitzroy project, Fabbrica, which Bramich expects will lure those empty nesters wanting to move back to a more active area.

Pace have geared Fabbrica toward this demographic, with larger than standard floor plans on offer, as well as double garage, large balconies, and high ceilings.&nbsp;

The&nbsp;one-bedroom apartments range from 52 sqm to 65 sqm, while two-bedroom&nbsp;apartments start from around 90 sqm and go up to 120 sqm. The three-beds range from&nbsp;130 sqm to 250 sqm.

SJB Architects will restore the current buildings on the corner of Johnston and Gore streets, which were selling for the first time in five decades when Pace snapped up the site. In keeping with the signature streetscape of Fitzroy, the facades will be restored to their original brick finish.

"We've already been seeing a lot of enquiry from those blue ribbon suburbs like Armadale, Kew, Malvern, the suburbs which are more geared to grand family homes.

"For these buyers, their kids have headed off to university or are now young professionals, and they can cash out their homes for anywhere between $4 million and $10 million, and are wanting to spend between $3 million and $5 million on an apartment in a 'cooler' suburb.

"They want to immerse themselves in a suburb which is more reflective of culture, with arts, cafes, and local restaurants."

Bramich says Fitzroy and Collingwood are probably two of the strongest suburbs to sell projects in.

"Buyers want heritage facades, light industrial features, tree lined streets, all of the characteristics Fitzroy and Collingwood are well known for. Most importantly it’s about being back in the buzz of a suburb they’ve not lived in since their 20s or 30s.

"There's a cohort of people who don't need to be sold on the area, they're simply just waiting for the appropriate product."

Expecting a big year in the markets, Pace also have 90 apartments soon to launch in Sunshine North, part of their riverside and lakeside masterplan where there's limited townhouses remaining. Bramich says the apartments will be more geared toward the first home buyer demographic.

Toward the end of the year Pace will launch Pace Brunswick, around 90 apartments fronting the popular Lygon Street, next to Methven Park. That will have one, two, and three-bedroom apartments.

Always looking forward, Pace are currently working with the Frankston City Council on their proposed plans down on the Mornington Peninsula&nbsp;located beachside of the Nepean Highway.

They're wanting to create a mixed-use residential and lifestyle precinct, bringing a high-level of retail and dining experiences to the suburb, set underneath around 200 apartments. Pace always put a large focus on amenity. They have plans for a 25 metre rooftop pool with sweeping views across Port Phillip&nbsp;Bay, a cinema, and a&nbsp;health and wellness area.

Ash Bramich, Sales and Marketing Director at Pace, said that there’s no point waiting around for the market to correct itself and bottom.


Pace take advantage of demand v supply in 2022 and kick off construction in Flemington and Coburg

The Melbourne unit market looks like it's following the upward swing in capital city property prices across the country.

The unit market, which incorporates apartments and townhouses, contracted -0.2 per cent over February, but that followed steep -1.1 per cent declines in January and -0.8 per cent in December.

Melbourne's unit market is now -2 per cent down so far in 2023, and 5.7 per cent over the last 12 months, the third worst performing capital city unit market behind Hobart (-10.1 per cent) and Sydney (-10 per cent).

The unit market in the Victorian capital has considerably outperformed the housing market over the last year. That's down -11.2 per cent, nearly double the unit market, after further -0.5 per cent declines over February.

Projects by Buxton Director Heath Thompson says the February rate increase has resulted in poor market sentiment from buyers, as well as decreased volume of enquiry.

"What was even more impactful was the commentary from the RBA around the rate announcement, suggesting multiple interest rates are likely to follow in the coming months," Thompson says.

[smartcode_project:default project_id=5495 project_image_fid=210547]

There are some factors however which are pointing to a positive outlook, Thompson suggests.

"The market fundamentals have some blue sky on the supply and demand equation.

"Rents are increasing at speeds not seen in recent memory and new dwelling approvals are the lowest since 2012. New construction starts are showing even less supply is coming to the market.

"On the demand side, we see buyers with very little choice for established or new property, increasing immigration and significant lack of rental property to service growing demand."

According to data from Charter Keck Cramer,&nbsp;there were a total of 5,100 apartments launched to the market in 2022, the lowest number of launches recorded over the past decade and was almost -80 per cent lower than the peak levels during 2014 and 2015.

[smartcode_project:default project_id=112375 project_image_fid=204410]

"In “normal markets” these conditions would see price rises which is what I’m expecting in the next 12-18 months, allowing more projects to absorb constructions costs and we will likely see a rapid rise in new development approvals and construction starts."

Thompson believes the bottom of the market can't be far off.

"The question we often get asked is “when is the market going to bottom out?” I don’t know the answer to that however, it can’t be far off and I do know that new projects will have to rise in value to become feasible.

"Rises in value are inevitable, its just a matter of when."

The median unit value in Melbourne is now $585,000, down from $626,000 this time last year.

CoreLogic's national index declined -0.14 per cent over February 2023, the smallest monthly fall since May 2022 (-0.13 per cent), when rate hikes commenced.&nbsp;

CoreLogic’s research director, Tim Lawless, said the stabilisation in housing values over the month coincides with consistently low advertised supply levels and a rise in auction clearance rates.

“The past four weeks have seen the flow of new capital city listings tracking -17.0% lower than a year ago and -11.9% below the previous five-year average,” Lawless said.

“This trend towards a below average flow of new listings has been evident since September last year, coinciding with a loss of momentum in the rate of value decline.”

[smartcode_project:default project_id=108897 project_image_fid=180973]

“The past four weeks have seen the flow of new capital city listings tracking -17 per cent lower than a year ago and -11.9 per cent below the previous five-year average,” Lawless added.

“This trend towards a below average flow of new listings has been evident since September last year, coinciding with a loss of momentum in the rate of value decline.”

Lawless however suggested the recent stronger results don't necessarily indicate the market has bottomed.

“Considering the RBA’s move to a more hawkish stance at the February board meeting, along with an expectation for a weaker economic&nbsp; performance and a loosening in labour markets, there is a good chance this reprieve in the housing downturn could be short-lived,” Lawless said.

“We also have the fixed-rate cliff ahead of us; arguably the full impact of the aggressive rate hiking cycle is yet to play out.”

Melbourne's unit market is now -2 per cent down so far in 2023, and 5.7 per cent over the last 12 months

City Beat: Melbourne unit market insights for February

Melbourne’s new golden residential tower, UNO Melbourne, has reached its 65th and final level.

Standing 210 meters tall at 119 A'Beckett Street, between Flagstaff Gardens and Carlton Gardens, UNO Melbourne is being developed by SP Setia, who had renowned architect Elenberg Fraser design the project. The most striking feature is the floor-to-ceiling shimmering golden glass facade.

Around 88 per cent of the 635 apartments have been sold in the building, with the first stage of settlements taking place in December 2022.

[smartcode_project:default project_id=3281 project_image_fid=46049]

Brett Griffith, Director at Colliers Residential Victoria, said the UNO Melbourne apartments have been in high demand, with sales predominantly secured by foreigners, located both overseas and those already settled in Melbourne, looking to either invest or occupy themselves.

"The pool of international buyers abruptly haltered when the pandemic hit the world, but in the past months, we have seen the confidence of international buyers return close to pre-pandemic levels who see the value of the property market in Australia," Griffith says.

"With Melbourne having been named Australia’s best destination for international students and rated as one of the leading destinations for learning and higher education in the world, UNO is likely to attract many students being located within walking distance to the University of Melbourne and RMIT University."

[smartcode_project:default project_id=3281 project_image_fid=46050]

SP Setia have a track record of delivering projects in Melbourne, having recently&nbsp;completed construction of their Sapphire by The Gardens in the north eastern part of the CBD.

SP Setia Melbourne Director See Hunt Soon says there's currently a scarcity of high-quality apartments in central CBD locations, with UNO Melbourne being one of the last opportunities to secure an apartment on a desirable CBD address.

‘With rising construction costs, we see UNO Melbourne as an excellent opportunity for buyers to purchase and invest into a quality brand new apartment at pre-pandemic construction pricing,’” Soon said.

Future residents of UNO will be able to enjoy a range of services and amenities, including a welcoming lobby, concierge and retail stores on ground-floor, a private dining area with teppanyaki facilities, a resident’s lounge, breakout rooms and media room on level one.

[smartcode_project:default project_id=3281 project_image_fid=46053]

Wellness facilities on level nine include a yoga studio, gymnasium, outdoor entertainment and BBQ area, steam room, spa and swimming pool.

“UNO’s prime location and high-end lifestyle offering with a range of hotel-style amenities and services available to residents, have been particular drawcards for internationals who are also seeing an opportunity to invest in Melbourne’s property market as rents are anticipated to continue to increase during 2023,” Griffith added.

Roberts Co are handling construction of the tower, having taken over the build in April 2022.

One, two and three bedrooms are currently available, starting from $6440,000. September 2023 is the target settlement date for stage two of the project.

[smartcode_project_cta:default project_id=3281]

Around 88 per cent of the 635 apartments have been sold in the building, with the first stage of settlements taking place in December 2022

SP Setia top out UNO Melbourne apartment tower

The Melbourne-based developer Golden Age Group knew when they were putting together the plans for Sky Garden, the apartment project above the rejuvenated The Glen Shopping Centre, they were creating something that would appeal to a wider range of buyers

Recently speaking to Urban, Zhao says, while the three-tower Sky Garden was an ambitious project, there was clearly a need for quality high density living in the area.

It was only the third high-rise development approved by the Monash City Council in the last 15 years. The other two developments were primarily made up of investor stock, with little amenity.

"We saw a perfect fit between what Golden Age wanted to achieve and the suburb of Glen Waverley," Golden Age's Chief Marketing Officer Dandan Zhao says.

"The vision of Monash Council is very considerate in regards to community needs and what's good for the community. It shows the level of research and care we put into our development proposal that it was greenlit."

[smartcode_project:default project_id=2881 project_image_fid=184593]

"People's desires have changed, and they want to be near amenities and infrastructure, and Glen Waverley is very rich in resource," Zhao says.

Once you go central to a suburb and become closer and closer to infrastructure, you sort of have to go vertical, not hortizontal.

"The $500 million redevelopment of The Glen, turning it into a world-class shopping centre, as well as extensive connectivity including the railway, poublic road, and new urban loop, makes Glen Waverley a very attractive proposition for both owner-occupiers and investors."

There's also a major draw for families, Zhao says. They've been keen on securing some of the larger apartments in Sky Garden due to the abundance of education institutions, some 24 of them, from daycare and kindergarten through to the Monash University, one of Australia's leading universities.&nbsp;

Downsizers have been attracted to the luxury finishes and fixtures and resort-like amenities and gardens, as this transforms the notion of what it means to live in an apartment; it doesn’t need to mean compromising on lifestyle,” Zhao adds.

[smartcode_project:default project_id=2881 project_image_fid=184591]

Zhao says Golden Age like to look at suburbs and find ways they can improve them.

"What we do well is looking at a suburb and saying to ourselves 'how can we better shape this community?'"

That ethos saw Golden Age stay in Glen Waverley, having gathered insights during the sales process at Sky Garden.

"While we have had a number of families and downsizers buy the larger apartments in Sky Garden, an apartment doesn’t suit everyone’s needs or preferences," Zhao says.

Starting to see a pattern emerge among a large cohort of enquiry, Golden Age went to the drawing board.

"Following a number of conversations, we decided there was a gap in the market for an architecturally-designed and high-end townhouse product in Glen Waverley, based on buyer feedback at Sky Garden and researching the local market. We were being asked if we had a townhouse product that carried the same design philosophy and quality of what Sky Garden offers."

Zhao says it was a case of 'when not if' Golden Age had a townhouse project ready in the area. Then, about four kilometres south of The Glen down Springvale Road, they picked up a 1.65 hectare site that lent itself perfectly to a collection of 77 townhouses.

[smartcode_project:default project_id=104680 project_image_fid=207712]

Even before launching Floret, Golden Age had a large database of buyers wanting a townhouse in the area.

"We wanted to bring luxury apartment living into a townhouse development," Zhao says.

"The location is perfect for families, across the road from a kindergarten and Brendan Park Shopping Centre, while also having convenient access to the Monash Freeway.

So far Floret has been targeted by families, of all ages, some who are seeking multi-generational living, which apartments don't offer.

[smartcode_project:default project_id=104680 project_image_fid=207725]

Golden Age again tasked Rothelowman with the designs.

"There's no other townhouse product designed by an architecture firm held in as high regard as Rothelowman in Glen Waverley," Zhao adds.

"There's so little townhouse stock in Glen Waverley. Traditionally there are maybe two or three townhouses, which present more like a duplex or triplex, rather than a true, architect-designed townhouse in a community rich in greenery."

Floret is over 25 per cent sold, thanks to a robust pipeline of interested buyers.&nbsp;

Golden Age is planning a 1,000 sqm central park, with amenity for families and kids, as well as a tree-lined central boulevard.

Later in the year, Golden Age is heading to the affluent suburb of Brighton, where they believe they've identified another gap in one of Melbourne's more bluechip postcodes.

"Brighton has never seen a townhouse and house development at this scale," Zhao says.

"There's little product between apartments and huge, multimillion dollar houses in Brighton. We're aiming to plug that gap.

"Brighton is such a premium suburb, people are wanting to get in, but either the product isn't right, or they are out-priced.

<img alt="Golden Age Brighton" data-entity-type="file" data-entity-uuid="6923d011-5130-4b76-bd59-9bd668781224" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-02-24%20at%2012.20.44%20pm.png?VersionId=jD_XyyrTBe8MGwQxfNcS8WQQ5DbklqcB" />

"We want to create something that works for that suburb and suits the calibre of the suburb, while giving young families and young professionals an opportunity."

Zhao says they will also likely see local downsizers show interest.

"Most houses in Brighton are so big, and some don't want to downsize from a six or seven-bedroom house on 900 sqm to a two-bedroom apartment.

"We'll again be creating a community with beautiful amenity, in the most price pointed project Brighton has seen."

Golden Age secured the massive 3.3 hectare site mid-last year, buying the the junior school of Xavier College for $100 million.

The junior school, Kosta Hall, on South Road, currently homes school buildings, sports fields, and the historic 1867 Maritima mansion.

Recently speaking to Urban, Zhao says, while the three-tower Sky Garden was an ambitious project, there was clearly a need for high quality, high density living in the area

How Golden Age are tapping into untapped markets: Five minutes with Golden Age's Dandan Zhao

One of Australia’s most anticipated projects, STH BNK By Beulah, has again broken the record for Melbourne’s most expensive apartment ever sold.

The $38 million sale, a sub-penthouse located above level 75, topped the $35 million record set last year.

The full floor residence offers a customisable floor plan so the buyer, a transcontinental business owner, has the ability to individualise the design of the property to better suit their lifestyle.

The record breaking apartment is one of the highest in Melbourne and features a 360 degree view of the city, resort style concierge services and world class amenities.

[smartcode_project:default project_id=8804 project_image_fid=200215]

The project has been one of Australia’s fastest selling projects to date, with over $600m in sales achieved in as little as four months.

Other notable sales include two apartments worth in excess of $30 million, a sub-penthouse fetching $15 million, and a slew of apartments worth more than $10 million - all sold off the plan.

Beulah Managing Executive Director Adelene Teh said the latest sale is reflective of the growing demand for luxury apartments that offer the convenience of immediate proximity to Melbourne’s world class gardens and cultural landmarks, while simultaneously offering the luxury of hotel living within their home.

[smartcode_project:default project_id=8804 project_image_fid=193965]

“Purchasers have come from all walks of life, some are local families who want to create a truly special family home in a landmark project; one that is a city within a city and has everything you could need at your fingertips," Teh says.

"There are also local business owners and frequent travelers who live in different cities during different parts of the year while others are suburban/regional dwellers who are looking for a city location. Each of these full floor residences are customisable and that has been highly attractive to purchases.

“Despite a challenging market due to rising interest rates, the prestige market remains active - as we’ve seen with a number of record breaking sales recently - as these buyers often aren’t reliant on funding from the banks,” Teh added.

[smartcode_project:default project_id=8804 project_image_fid=194913]

Many purchasers continue to take advantage of the customisable ‘Tailored Living’ services by merging together multiple apartments into super-sized residences; the total number of apartments in STH BNK By Beulah will continue to decrease as a result of more tailored configurations.

In June it was announced STH BNK By Beulah will be home to the most comprehensive collection of amenities in any Australian skyscraper.

Residents will have access to STH BNK Concierge Services including housekeeping, shopping, childminding, and pet services, plus an on-call doctor, beauty and massages treatments.

[smartcode_project:default project_id=8804 project_image_fid=200217]

The FreshAir™ system developed together with world-leading engineers ARUP, will also protect against noxious fumes, bushfire smoke, disease transmission and moisture issues by removing contaminants from the outside air.

STH BNK will also offer resident access to the vibrant and comprehensive lifestyle podium; a wellness and culture precinct comprising premium retail, inspiring cultural events and engaging entertainment, community activities, childcare centre, outdoor gardens and rooftop spaces and a first-of-its-kind fleet of luxury vehicles including BMWs, Teslas, Porches and Range Rovers for residents to use at their convenience.

STH BNK By Beulah will also be home to Four Seasons Melbourne, as well as the country’s first innovative cultural centre for young people, overseen by the globally-revered Centre Pompidou.

[smartcode_project_cta:default project_id=8804]

The record breaking apartment is one of the highest in Melbourne and features a 360 degree view of the city, resort style concierge services and world class amenities

STH BNK by Beulah breaks Melbourne apartment record, again

In real estate, location is always the number one priority on a buyers wishlist.

Almost everything else is changeable, within reason.

The location of a property can impact several aspects of a homeowner's experience, from lifestyle, accessibility, and most importantly, value.

Projects by Buxton Director Heath Thompson says while location factors are subjective and personal to the individual, the key location factors are proximity to amenity and public transport.

"Local amenity, shops, cafes etc are important for everyday life for most buyers, while connectivity to the city, while not important for some, is important when it comes to resale value of a property" Thompson says.

Thompson has recently launched the boutique, 11-apartment project Martin Brighton, which is attracting downsizers due to its locational point of difference.

[smartcode_project:default project_id=5495 project_image_fid=207664]

"The project is unique in the sense it has a Brighton postcode, but it offers a different lifestyle than what many perceive what living in Brighton is like," Thompson says.

"Martin Street is not about the bay or the beach, albeit they're less than two kilometres away from the project. It's more about the doorstep lifestyle that the Martin Street Village has.

"There's a community feel around Martin St which you don't really get from Bay or Church Street. It's more like Hampton Street was before the recent large scale development."

[smartcode_project:default project_id=5495 project_image_fid=190763]

On Martin's doorstep is the popular cafe St Martin's, Martin St Cafe &amp; Providore and a number of other restaurants and cocktail bars. Bottarga is located across the road, while 10 Greek Plates, Brix Bar and Dining, Sons of Mary, and Brighton Bistro &amp; Cocktail Bar are all less than 200 metres from the front door.

Another driver for buyers is the connectivity that this end of Martin Street offers.

Martin residents will be in close proximity to the Gardenvale Station, on the Sandringham Line, which runs to Flinders Street Station through South Yarra, Prahran, Windsor, Balaclava, Ripponlea, Elsternwick and Hampton.

"We are finding that because Martin Street isn't a main thoroughfare it has a warm feel to it as opposed to busier locations," Thompson says.

[smartcode_project:default project_id=5495 project_image_fid=190767]

Martin has just 11 two and three-bedroom apartments, which start from $1,395,000. Each apartment has secure parking with internal living the starts from 100 sqm to more than 140 sqm extending to generous private terraces. The interiors were designed by the legendary interior design studio Mim Design.

Developer EBG, who have a string of successful high-end projects in their portfolio, are about half way through the bulk excavation of the site, with completion slated for mid-2024, a timeline which suits the downsizer so they have time to sell their family home.

Thompson says Martin suits the people who have wanted to make a sea change, while also being part of a village-style community.

"They might have kids who have moved into Melbourne, and want to be connected to them while also being near the water.

"Martin perfect for those who seek a lock and leave lifestyle. The location is also popular with buyers who have a larger property down on the Mornington Peninsula and looking for a city base.."

&nbsp;

&nbsp;

[smartcode_project_cta:default project_id=5495]

The location of a property can impact several aspects of a homeowner's experience, from lifestyle, accessibility, and even potential resale value.

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Developments

New apartments

New townhouses

News