Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

Joel Robinson

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368856]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Residential Apartments

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In March this year, apartment design standards will be implemented into the Victorian planning system, according to Secret Agent’s latest report.
Apartment design standards will ensure all future apartments in Victoria are desirable, safe, healthy and sustainable.
New developments in Victoria will only be permitted a planning permit if they meet these standards.
A 2015 community survey found that the top concerns of apartment amenity were “access to daylight, functional space, and natural ventilation”, as well as noise and energy efficiency. (DELWP, 2)
Standards have been made for 16 elements of design: Building setback, functional layout, room depth, windows, storage, noise impacts, energy efficiency, solar access to communal open space, natural ventilation, private open space, communal open space, landscaping, accessibility, building entry and circulation, waste and recycling, integrated water and storm water management.
It is logical to think that better design standards should produce apartments of a higher quality.
This in turn should increase the sale price of these apartments.
Secret Agent was engaged to determine the price premium of better designed apartments.
That is, how much more are consumers willing to pay for an A grade apartment compared to a B grade and C grade apartment?
In order to do this, four apartment factors which influence sale price were selected.
These were sunlight, natural ventilation, open views and outdoor space.
A sample of apartment sales in inner Melbourne was then collected.
Each apartment in the sample was rated as an A, B or C grade apartment depending on how many factors they had present.
• A grade apartments had all 4 factors.
• B grade apartments had 2 or 3 factors present.
• C grade apartments had 0 or 1 factor present.
Hedonic regression techniques were used to determine the price premium of A grade apartments over B grade and C grade.
This was done for two different samples which distinguished between sales in large apartment buildings (Sample 1) and those in buildings with 5 levels or less (Sample 2).
Sample 1 consisted of 886 sales and sample 2 consisted of 510 apartment sales. Factors such as date of sale, apartment size and location were all accounted for as part of the regression.
Table 1 shows the average price impact of an A grade and a C grade rating, relative to a B grade apartment in a building of over 5 levels.
In other words, on average an A grade apartment is expected to sell for $50,837 more than a B grade apartment,
<a href="https://www.propertyobserver.com.au/images/2017/06/Screen%20Shot%202017-02-06%20at%201.21.29%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/Screen%20Shot%202017-02-06%20at%201.21.29%20pm.jpg" alt="">
while a C Grade apartment is expected to sell for $49980 less than a B grade apartment.
This means that the average price difference between an apartment with a 4/4 rating and an apartment with a rating of 1/4 or lower is $100,817.
The results are similar for smaller buildings as shown in Table 2.
<a href="https://www.propertyobserver.com.au/images/2017/06/Screen%20Shot%202017-02-06%20at%201.21.35%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/Screen%20Shot%202017-02-06%20at%201.21.35%20pm.jpg" alt="">
Compared to B Grade apartments, an apartment in the sample is expected to sell for $63,728 more if it is A grade, and $39,794 less if it is C grade.
The difference between an apartment that has all four factors and one than has one factor or less is $103,522.
In smaller buildings, the positive impact of an A grade rating was of greater magnitude than the negative impact of a C grade rating.
The results also showed that if an apartment is cross ventilated, has good natural light, has an outdoor area and open views, then it is likely to sell for 21.3% more if in a small building and 17.3% more if in a larger building.
This demonstrates that better design standards will have a significant impact on apartment prices once they come in to effect.
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jchancellor-FAypfDUnLy

The price benefits of better designed apartments

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A development-approved site in Sydney’s Miranda has been snapped up by Malaysian-based developer BRDB for $12.8 million.
Located at 1-3 University Road, 668A, 668 and 670 Kingsway, Miranda, the north-facing property has a gross floor area of 5,744 sqm.
It is DA-approved for 66 residential apartments.
Knight Frank managed the sale on behalf of a private family.
According to Knight Frank’s Director, Residential Site Sales, NSW Tim Holtsbaum the purchaser had a strong preference for the Sutherland Shire, given its strong fundamentals and location.
Knight Frank’s Head of Asian Markets, Dominic Ong, said Malaysian buyers have traditionally been very active in Melbourne – but this sale could indicate a shift 
"Sydney has mostly received interest from China and Singapore in terms of Asian investment.
"However, we anticipate this could change."
The north-facing site features 2,872 sqm and is DA-approved large town-home-style ground-floor apartments with garden terraces and upper floors enjoying view towards Cronulla and Sydney’s North.
The apartment mix is approved for 27 percent one-bedroom apartments, 71 percent of two-bedroom apartments and 2 percent three-bedroom apartments.  
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Malaysian developer BRDB buys Miranda apartment site

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There's no doubt that after location, it is the number of bedrooms and bathrooms that fundamentally determines the selection of an apartment to buy.
The aspect and view become important once you are inside.
The standard of fitout certainly comes into play in any pricing.
Over recent times apartment size has become a mild influencer as Sydneysiders embrace the purchasing reckoner that's more common in other international cities, especially across Asia. 
Calculating the per-square-metre price of apartments has emerged - especially for off the plan acquisitions - as a way to evaluate market value as it has been long done say at The Peak in Hong Kong.
Australia has typically used median apartment data in our calculations, and this has appropriately become more segmented given the obvious differences between studios and penthouses.
The sale of the two Opera Residences penthouse earlier this month that established new price records has highlighted the increased emphasis being given to price per square metre.
They sold at $26 million and $27 million, but details released showed these expensive penthouses fetched a stellar $95,000 per sqm. 
The price level is unquestionably comparable to much of Manhattan in New York and Knightsbridge in London. Though not quite matching the world's most expensive apartment currently for sale in Monaco. 
The five floor La Tour Odeon penthouse, designed by the Monegasque architect Alexandre Giraldi, featuring a pool with a waterslide, comes with a reported $US335 million asking price for its 31,500-square foot (2900 sqm) space which equates to $US122,000.
The Sydney Opera Residences penthouses came with around 275 sqm internal space, with three bedrooms, four bathrooms and a triple lock up garage. 
The sub-penthouses in the Macquarie Street complex sold for around $16 million so reflected around $85,000 per sqm. They had an internal area of 183sqm and came with two car spaces. 
The sales represented a big jump on prior benchmarks.
The previous highest recorded rate per square metre was set in the nearby Bennelong "Toaster" development in 2008 when the Moran family bought an adjoining 260-square-metre penthouse for $16.8 million.
At $64,000 a square metre there was something of a one-off premium because the Moran’s planned to extend, so we happy to pay the opportunity cost.
Until the latest price hike, Omnia, Kings Cross’s newest development, held the price per square metre honours after an $11 million penthouse off-the-plan sale last year. It reflected $62,000 per square metre price.
The price per square metre trend has mostly come to the fore due to the off the plan marketing of new high density projects across Sydney. 
But ever since the 13-storey Astor highrise was built on Macquarie Street in the 1920s, Sydney has led the nation in apartment living popularity.
Sydney has 21 square kilometres of what's called high density, Melbourne has one square km with no other city in Australia ranked.
By comparison London has 327 square kilometres where there is a similar high density of 8,000 plus people per square kilometre.
There's been interesting subsequent research from the Urban Taskforce that demonstrates that apartment values per square metre actually go up with greater density. 
An typical apartment in high rise Chatswood will be $9,000 a square metre compared with a mid-rise apartment in Lindfield at $6500. Potts Point apartments are selling at an $11,000 per square metre, compared to Edgecliff's $8300 per sqm.
Parramatta apartments have been selling at $6000 per square metre while Westmead is $4750 per square metre. Randwick apartments at $9300 and Zetland at $6600 psm.
While I think price per square metre calculations are very handy, they ought not be the reason to buy or not buy. 
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Evaluating apartment value by price per square metre

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GUET OBSERVER
The NSW Civil &amp; Administrative Tribunal (NCAT) has the power under section 162 of the Strata Schemes Management Act 1996 to appoint a compulsory strata managing agent to a strata scheme.
This power is also contained in section 237 of the Strata Schemes Management Act 2015 which, but for part 11, will commence on 30 November 2016. The sections, which differ slightly, empower the NCAT the make an order that either all, or part, of the functions* of the owners corporation are delegated to a strata manager.
What does compulsory strata management mean? 
The simple answer is that it means different things in different cases. For instance, NCAT may order that all the functions of the owners corporation are to given to the strata management agent or, it may order that only a certain power or function is given to the strata managing agent.
If all the powers of the owners corporation are granted to the strata managing agent meetings of the owners corporation are not necessary. Instead of you, as a lot owner, voting to decide matters the strata manager will exercise their delegated power. If they do so they can raise levies, pass resolutions on behalf of the owners corporation and pass by-laws pursuant to section 65A. A by-law could also be passed pursuant to section 52 by the compulsory strata manager with the prior written consent of the lot owner granted the exclusive use right or special privilege.
On the other hand if the strata manager were only granted the powers of the executive committee, they could call meetings, pay invoices (unless restricted by the owners corporation at general meeting from doing so) and conduct the day to day affairs of the owners corporation but could not pass any resolutions that are required by the Act to be passed at general meeting. This would include resolutions to pass by-laws, to accept an easement or to alter or amend the common property.
Who can apply for an order for compulsory management? 
A wide variety of people can obtain an order to appoint a compulsory strata manager and it need not be a lot owner. They are:
anyone with an interest or estate in a lot in the scheme or if the scheme is a leasehold scheme, a lease of a lot;
anyone who has obtained an order under the 1996 or the 2015 Act that has not been complied with and that imposed a duty on the owners corporation, executive/strata committee or an officer of the owners corporation
an authority that has the benefit of a positive covenant requiring a duty of the owners corporation; or
a judgment creditor to whom the owners corporation owes a judgement debt
When can the NCAT make an order for compulsory management? 
Both the 1996 and 2015 Acts provide that the NCAT may make an order only if satisfied that:
(a)  the management of a strata scheme is not functioning or is not functioning satisfactorily, or
(b)  an owners corporation has failed to comply with a requirement imposed on the owners corporation by an order made under the Act, or
(c)  an owners corporation has failed to perform one or more of its duties, or
(d)  an owners corporation owes a judgment debt.
What does “not functioning or is not functioning satisfactorily” mean?
CTTT (the predecessor to the NCAT) Member Moore in Coote v Sharpe, Wentzel &amp; Owners Corporation Strata Plan 55434 stated that imposing a compulsory strata manager upon an owners corporation is a “draconian” measure as it “removes the democratic process which has been established” under the Act. As such, the reasons for a finding of dysfunction must be based on objective evidence. For this reason, these orders are not lightly granted.
Instances where an order for compulsory strata management has been made show that the following behaviour can be a sign of a failure to function when affects the management structure of the scheme:
<ul>
<li>a failure (or inability) to pass resolutions to raise contributions;</li>
<li>a continued failure to carry out required maintenance and repairs</li>
<li>a long history of acrimony, deep seated discord and or violence in the scheme;</li>
<li>the presence of a voting block, for instance, where divisions within the scheme see a 50/50 stand off meaning resolutions cannot be passed;</li>
<li>a pattern of strata managers terminating their appointment; and</li>
<li>a pattern of improper decisions making (i.e. decisions not made in accordance with the Act)</li>
</ul>
* The Dictionary to the Act defines “function” as “function includes a power, authority or duty.”
Allison Benson is legal practitioner director, Kerin Benson Lawyers and can be contacted <a href="https://kerinbensonlawyers.com.au/">here</a>.
 
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Property 101: Compulsory NSW strata management and how it affects you and your scheme?

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Victoria is set for the introduction of new apartment standards to improve high rise amenity and access to air and light, according to The Age.
The new Victorian controls, outlined by state planning minister Richard Wynne but still in draft, require apartments have enough daily light and ventilation, with energy and waste efficiency requirement and noise minimisation measure also set out.
The criteria differs from Sydney, who went as far as setting out minimum sizes for apartment, including 50 sqm for one-bedroom apartments and 70 sqm for two bedders.
Victoria's new rules set a minimum standard ceiling height of 2.7 metres, and any habitable room must have direct access to daylight, with the window visible from any point in the room.
"There are a number of apartments that have been built in Melbourne which frankly don't reach in our view a minimum standard," Richard said.
"Buildings that rely on borrowed light, buildings that have poor ventilation, buildings where you can barely put a double bed into the bedroom: this is not the quality of apartments that we should have."
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Richard's press conference on the new regime was held at a Lendlease development in Docklands, within a one-bedroom apartment of 48-square metre, less than the Sydney standard.
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The decision not to establish Sydney-style minimum sizes was not a "cop-out", Richard said.
"The opportunity in an apartment like this, at 48 square metres, achieves and in fact exceeds the guidelines that we are putting in place.
"We will not be mandating minimum sizes because we want to ensure that good design is a part of this solution."
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jonathanchancellor-7SQnKwU6yx

Property 101: New rules for Victorian apartment sizes

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An $11 million apartment in Mirvac's The Eastbourne has sold, achieving a sqm rate at almost $24,000 per sqm.
It eclipsed the previous record held by the Salta building at 150 Clarendon Street which has long been the benchmark for prestige living in Melbourne.
With the Grand Pavilion Penthouse yet to hit the market however, the new record may not stand for long, with price expectations exceeding $30,000 per sqm.
The penthouse will feature 50 metres of frontage and an outdoor pool offering views across Fitzroy Gardens.
The Eastbourne is a classically terraced building set across 11 levels fronting Fitzroy Gardens, boasting spectacular views of the CBD and neighbouring abundant greenery.
Construction is set to start in the coming months on the Bates Smart development, so the design suite, which is now open to the public, will only be on site for a limited time.
John Carfi, Mirvac's head of residential said The Eastbourne’s recipe for success had been tried and tested previously at Mirvac’s landmark St Kilda Road development The Melburnian.
“We knew we had something special here and that determined our approach and our collaboration with Bates Smart to create a landmark project befitting its location and address,” he said.
“It is wonderful to see the success of The Melburnian replicated in East Melbourne, where purchasers have jumped at this unique opportunity.”
The first release comprised the Pavilion Collection – the project’s premium residences boasting large terraces with views over the Fitzroy Gardens and price tags starting from $2 million.
More than 90 percent of this stage has been sold to some of Melbourne’s most highly regarded people, including residents from the famed 150 Clarendon building on the other side of the park, upgrading to East Melbourne’s newest address.
One, two and three bedroom apartments are available, starting from $500,000, with these apartment aimed at the discerning young professional market.
Carfi said that families with young and teenage children have been attracted to the lifestyle advantages of The Eastbourne.
He also suggested that Sydney-siders have seen value in the building and customers are flying down to buy.
The project will also feature a dining room with chefs kitchen, resident's lounge with courtyard and barbecue, a cinema room and a business centre.
With demolition already underway, construction is set to commence early in 2017 and completion expected by mid-2019.
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<div title="Page 2">Over 3000 expressions of interest were lodged by interested buyers when the project was launched. </div>
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<div title="Page 2">For more information, <a href="https://theeastbourne.mirvac.com" target="_blank">click here.</a>
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j.ballantyne1990-6AQqhLzZaK

The Eastbourne breaks sqm rate record in East Melbourne

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Inner Brisbane projects a picture of surging demand for off–the–plan apartments since 2013, creating record supply in future, while units rented out occupy a major share of all apartments in the area, according to the latest findings from research firm BIS Shrapnel.
Demand for Inner City apartments from investors shows little signs of abating in the short term despite its impact on rents, with completions to peak in 2016/17 at more than 7,000 apartments. Also, Brisbane's relative affordability compared with Sydney or Melbourne means more investors will choose Inner Brisbane apartments (IBA), says the paper titled Inner Brisbane Apartments Market Brief 2016.
The research focuses on indicators relating to demand, supply, rents and prices.
The major locations in Inner Brisbane to see developments on a large scale are CBD/Spring Hill, Inner East, Inner North, West End, Toowong, Woolloongabba and Hamilton.
APARTMENT PROFILE
Rental apartments account for 58 percent of total apartments in the IBA area, considerably higher than the 29 percent share for all dwellings across Greater Brisbane. This highlights the preference of investors to purchase properties close to good transport links and major commercial, retail and entertainment centres, where tenant demand is likely to be greatest.
Owner occupied dwellings represent 31 percent of IBA area stock, with a slightly greater share of these having a mortgage (being purchased). Conversely, a significantly higher 63 percent of Greater Brisbane dwellings are owner occupied.
Unoccupied dwellings—those that are held as second homes or kept empty as a speculative investment— comprise 11 percent of total apartment stock in the IBA area, compared to 8 percent across Greater Brisbane. It is expected that this level will increase from 2014/15, given the level of overseas demand and the potential that many may be held and not released to the rental market.
<a href="/images/2016/05/23/Screen%20Shot%202016-05-24%20at%209.23.52%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/23/Screen%20Shot%202016-05-24%20at%209.23.52%20AM.png" alt="">
DEMAND PROFILE
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The age profile of apartment residents suggests that people first rent when moving into the IBA area, with 47 percent of occupants in rental households aged 20 to 29 years old. If people remain in, or move into, the IBA area beyond 30 years of age, there is a higher propensity to purchase an apartment.
Households with a mortgage are mostly younger, with 50 percent of people occupying an apartment being purchased aged 30 to 54 years old. Within fully owned apartments in the IBA area, the demographic is older, with 59 percent of occupants in these apartments aged 55 years old and over. 
<a href="/images/2016/05/23/Screen%20Shot%202016-05-24%20at%209.26.16%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/23/Screen%20Shot%202016-05-24%20at%209.26.16%20AM.png" alt="">
Demand Drivers
An analysis of the age profile of apartment residents suggests three main groups driving occupier demand: students, younger adults, and older empty nester adults.
Students account for 17 percent of the IBA population, with 56 percent being overseas students. Overseas students create instant demand for accommodation, opting to reside close to their place of study. After a post-GFC decline, overseas student enrolments have been in recovery mode since 2014, driven by a lower Australian dollar. The improvement has occurred across all education sectors. 
The young adult apartment population is typified by those in white collar employment. Inner Brisbane employment growth has been weak in recent years due to State Government cost cutting and a reduction in mining services jobs. There is evidence that the decline may have bottomed out, although the recovery is likely to be slow (Chart 4).
Empty nesters are classified as those aged 45 years old and over, being either singles or couples without children. Empty nesters comprised 28 percent of the non-student adult population in the IBA area at the 2011 Census. 
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<img src="/images/2016/05/23/Screen%20Shot%202016-05-24%20at%209.30.13%20AM.png" alt=""> 
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INVESTMENT
Rental Vacancy Rates
Vacancy rates in Inner Brisbane remained below the balanced market rate of 3 percent from June 2004 through to June 2013, except at June 2009, when a rapid reduction in standard variable rates and the introduction of boosted incentives to first home buyers during 2008/09 encouraged existing and potential tenants to become owner occupiers.
Unlike Middle and Outer Brisbane, vacancy rates in Inner Brisbane have increased since 2013/14, reaching 3.8 percent at December 2015. While some of this rise may reflect the rate of new stock coming to the market and the time required to fill the stock, the steady rise in vacancy rates through 2014 nevertheless suggests that an excess of rental stock is emerging within Inner Brisbane. 
<a href="/images/2016/05/23/Screen%20Shot%202016-05-24%20at%209.32.16%20AM.png" target="_blank">Click to enlarge</a>
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Table 1 (main picture) outlines the weighted median two bedroom (the most common type of unit) rent and weighted median unit price of the IBA area post codes, along with an indicative yield representing the rent divided by the price.
Unit rental yields increased to a peak of 5.52 percent at June 2012, and remained at a similar high level over the following year. Combined with the low interest rate environment, investor demand strengthened and drove solid unit price growth of 5.9 percent in 2013/14.
Relatively low borrowing costs also reduced cash outflows for investors and diminished the necessity for landlords to increase asking rents, particularly with low borrowing costs making it easier for tenants to shift to owner occupation. As a result, rental growth remained below 1 percent per annum since 2012/13. Unit yields eased to a low of 5.08 percent at June 2015.
Rising vacancy rates will limit rental growth in 2015/16 to an estimated 0.1%. Moreover, preliminary data suggests unit prices may have declined, as the record level of apartment completions in 2015/16 creates increased competition and has a negative impact on resale prices. With a decline expected in prices of 2 percent in 2015/16, the indicative yield for a two bedroom apartment in the IBA area will improve slightly to 5.19 percent at June 2016. 
SUPPLY PIPELINE
Off–the–plan apartment demand within the IBA area has escalated from 2013, attributed to attractive yields, low or volatile returns for other investments and low interest rates. The rise in off–the–plan sales has allowed a greater number of projects to reach sufficient pre-commitment levels to obtain finance and begin construction. As a result, the IBA Area experienced a sharp increase in apartment completions in 2014/15 to 2,920 apartments. The period between peak demand and the subsequent lag of pipeline supply reaching the market has apartment completions set to soar to record levels over the next few years. In 2015/16, we estimate that approximately 3,250 apartments will be completed, surpassing the record high set just the year before.
In the short term, demand for Inner City apartments from investors shows little signs of abating despite the potential impact on rents and prices of further sizeable new additions to the rental stock across Inner Brisbane. Based on the current pipeline, completions are on track to peak in 2016/17 at over 7,000 apartments, of which investor owners will continue to form the bulk of underlying demand. Relatively less expensive apartment prices, and more attractive rental yields compared to their respective home markets, is likely to sustain demand for IBA stock from investors in Sydney and to a lesser extent, Melbourne. Similarly, this should also see overseas investors increasingly favour Inner Brisbane apartments over Sydney or Melbourne with demand from other countries also underpinned by a preference to invest in more transparent and stable political environment. 
Consequently, IBA Area completions are on track to escalate above the record levels in 2015/16, increasing to a peak of 7,182 apartments in 2016/17, 6,468 apartments in 2017/18 and 5,497 apartments in 2018/19. The West End and Inner North precinct will be the mainsource of new apartments in the IBA area over the three years to 2018 accounting for 60 percent of all new supply. Apartment completions as a proportion of total IBA area is expects to be next greatest in CBD/Spring Hill (13 percent) and Toowong (10 percent).
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prateek24-ezbwHMbNAk

Inner Brisbane apartments a huge draw with investors in spite of record supply: BIS Shrapnel 

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<h3>In most cases, the flat, unit or apartment you are considering will be strata title:</h3>
<ul>
<li>Strata title is individual ownership of a unit or apartment within a multi-unit complex. At settlement, you will receive a certificate of title for the unit you bought and become a joint owner of the common property (common areas shared by all the unit owners).  </li>
<li>The unit owners are members of the owners corporation (formerly body corporate), which owns and manages the common property. An owners corporation is automatically created when a plan of subdivision containing common property is registered at Land Victoria.</li>
</ul>
<h3>If you buy the property, you will have the right to vote on decisions about the operation of the owners corporation and, among other responsibilities, must: </h3>
<ul>
<li>pay annual owners corporation fees, levies and charges </li>
<li>obey owners corporation rules. Rules may include things such as renovations to the property, pet ownership and noise levels. </li>
</ul>
<h3>You can research the owners corporation by reviewing: </h3>
<ul>
<li>the owners corporation certificate attached to the Section 32 statement (also known as a vendor's statement). This has details of current fees, insurance cover and maintenance works carried out. It also details any proposed works, fee increases and any potential or existing legal claims affecting the property  </li>
<li>the owners corporation manager’s details on the <a href="https://www.consumer.vic.gov.au/businesses/registered-businesses/owners-corporation-managers/public-register" target="_blank">public register of owners corporation managers </a>
</li>
<li>any contracts, agreements, leases or licenses affecting the common property  </li>
<li>the minutes of the owners corporation’s annual general meetings  </li>
<li>the contract of sale. </li>
</ul>
<h3>Finances: </h3>
<ul>
<li>What are annual owners corporation fees, levies and charges? Are you able to manage any increases in annual fees and special levies?  </li>
<li>Are there any fees or other monies owing to the owners corporation?  </li>
<li>Is there a bank account in the name of the owners corporation or a trust fund held by the manager?  </li>
<li>Can you see the owners corporation’s register or most recent financial statements, and the budget?  </li>
<li>Does the owners corporation have a credit balance or is it in debt?  </li>
<li>Has the owners corporation borrowed any money? Does it have other financial liabilities? If so, how much?  </li>
<li>Does the owners corporation have a maintenance fund? How much are you required to contribute? </li>
</ul>
<h3>Plan of subdivision: </h3>
<ul>
<li>Will you be a member of more than one owners corporation? </li>
<li>What would your lot entitlements (voting rights) and lot liabilities (your contribution to the owners corporation/s) be as part of the whole development?  </li>
<li>Check the measurements of the apartment and the car space. Are they the same as shown in the plan of subdivision, brochure and the contract of sale?  </li>
<li>Is the car parking space a lot and part of your title? If so, ensure that the car parking space is transferred with the title.  </li>
<li>Is the car parking space common property? If so, ensure you have a lease or a licence. </li>
</ul>
<h3>Maintenance and repairs: </h3>
<ul>
<li>Are there any proposed maintenance, renovations or other building works? Has the owners corporation already raised the funds to cover the cost of the building works? Will there be a special levy? </li>
<li>Is there a maintenance plan? If so, ask to see it. If there is a plan, there must be a maintenance fund.  </li>
<li>Are there any guarantees and warranties on building works and finishes? Are the documents referred to in the contract of sale? </li>
<li>Are the building works and finishes completed? Are there any defect claims?  </li>
<li>Is there sufficient reinstatement and replacement insurance cover for the building? </li>
<li>Are there any obvious structural issues, damage or repairs needed to the building? Consider organising an independent building inspection. </li>
</ul>
<h3>Management issues: </h3>
<ul>
<li>Does the owners corporation have a registered manager? Check their registration on the public register of owners corporation managers</li>
<li>Is there a resident building manager or caretaker manager?  </li>
<li>When was the last annual general meeting? Ask to see its minutes. How many complaints were reported to the owners corporation?  </li>
<li>Is there a committee? Can you contact the chairperson?  </li>
<li>Does the owners corporation have rules? Are the rules registered at Land Victoria? </li>
<li>What is the grievance procedure?  </li>
<li>Are any legal proceedings affecting the owners corporation? If so, ask for details or copies of the application or complaint. You should get legal advice before signing the contract.  </li>
<li>Check for any record of a Victorian Civil and Administrative Tribunal decision affecting the owners corporation or the address or the building. The tribunal’s decisions are available for download from the <a href="https://www.austlii.edu.au/" target="_blank">Australasian Legal Information Institute website</a>. </li>
</ul>
<h3>When looking at an apartment or unit, consider:</h3>
<ul>
<li>Can you hear people walking and talking in other apartments?</li>
<li>Can you smell cooking? </li>
<li>Are you near the garbage bins or waste collection areas? Are there any odours? </li>
</ul>
 
For more information <a href="https://www.consumer.vic.gov.au/housing-and-accommodation/buying-and-selling-property/checklists/buying-an-apartment-or-unit" target="_blank">visit the Victoria government website here</a>
 
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Buying an apartment in Victoria

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Bond Quarter, a 105-apartment high rise by Alpha 14 Property Group, is set within a heritage-listed building on Melbourne’s famous Spencer Street.
Designed by Hayball, the 386 Spencer Street site has an area of 834 square metres, and is located in the University High School Zone.
Spread over 16 floors, Bond Quarter will comprise a mix of one and two-bedroom apartments, with the one bedroom at $385,000 and the latter from $484,000.
The developer claims sales are robust, only to be expected as the development has easy access to educational institutions including Melbourne University, medical centres and is close to public transport.
 
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Bond Quarter in Melbourne's Spencer Street combines heritage with modern living

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More than 100 buyers have bought apartments at Dux in Melbourne's Richmond, a project by local developer Little Projects. 
With a classically-designed façade, Dux on the crest of Bridge Road, Richmond Hill, will feature 175 one-, two- and three-bedroom apartments and townhouses spread over 11 levels.  
More than 90 per cent of the apartments and townhouses sold to local purchasers within a week of launching the $70 million project, said a media release.
The remaining apartments range in price from $475,000 to $1.24 million.
“There are a lot of new projects in and around the area but the feedback from our buyers is that Dux not only presents beautifully, it is in a prime location, its residential amenities are first class and the architecture and interiors are unlike anything else available,” said Little Projects general manager, Sales and Marketing, Fergus Humphries.
He says Dux’s diverse range of floorplans and price points provided with buyers with a range of options depending on their budget.
Architecture firm ROTHELOWMAN principal Stuart Marsland said the industrial-style design takes its inspiration from Richmond’s history with contemporary features, incorporating an attractive combination of warm bronzes, exposed brick facades and shimmering glass.
Dux’s facade features concrete panels in a repetitive ‘saw-tooth’ pattern outline the building’s main entrance (located on the building’s side), referencing the warehouse roofs of old Richmond, said Marsland.
Communal areas feature a swimming pool, landscaped dining terrace and city views.
The onsite display suite is open at 155 Bridge Road, Richmond.
Little Projects said it has delivered 1,777 apartments to date, with a further 100 to be completed in 2016.
 
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