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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"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."

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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

Residential Development

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Marquee on Meron, a boutique apartment development, has just launched at 4-8 Meron Street in the Gold Coast's Southport.
The $26.75 million project will feature a mix of 51 apartments – one, two, and three bedroom - over nine levels and include ground floor apartments with private courtyards as well as a communal roof top courtyard.
Marquee on Meron is developer Draycon Building's first foray into the Gold Coast, after projects in Sydney and coastal New South Wales.
The project is being marketed by Brett Ahern and Ian Bennett of Colliers International.
“We are expecting a lot of interest from local and interstate investors. Marquee on Meron presents an investment opportunity that provides good capital growth potential in a strong rental market with a low vacancy rate," Ahern said.
“Southport is the CBD of the Gold Coast and has been rejuvenated by the redevelopment of the Broadwater Parklands."
Residents in some apartments will have views to the nearby Nerang River as well as the Southport CBD.
Bennett said the apartments are spacious, with internal areas ranging from 60 square metres for a one-bedroom apartment to 137 square metres for three bedroom penthouses.
“The apartments also feature expansive balconies, floor-to-ceiling glass and open play layouts with sophisticated neutral palettes and durable gourmet style kitchens, elegant bathrooms and plenty of storage space," he said.
The one-bedroom unit starts at $345,000, the two-bedroom apartments are from $435,000, three-bedroom ones come from $560,000 and the three-bedroom penthouses are available from $755,000.
Construction is planned to start mid-2016, with expected completion due in late 2017.
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j.ballantyne1990-6AQqhLzZaK

Southport's newest development - Marquee on Meron

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Savvy homeowners in Melbourne’s eastern suburbs are banding together to combine properties, as they look to capitalise on demand for residential development opportunities.
One such example was the sale of adjacent properties <a href="https://www.realcommercial.com.au/property-land+development-vic-glen+iris-501712345" target="_blank">1455 High Street and 2a Scott Grove,</a> Glen Iris for $6,637,000.
The properties over a combined area of 1,644 square metres were sold to a local developer.
The campaign was handled by CBRE’s Julian White at a rate of $4,000 per square metre.
“We are witnessing an increasing acceptance of apartment living in suburban markets, particularly in prestigious suburbs such as Glen Iris, where medium house prices of $2 million plus inhibit freestanding home ownership," Julian White said.
He added that developer confidence in the pre-sale apartment market was another driver, as apartment sites in the eastern suburbs become harder to secure and planning permits more difficult to obtain.
“To capitalise on developer demand, group selling is becoming increasingly popular, as homeowners look to partner with neighbours to sell their homes for significantly higher returns than can be achieved by selling sites individually,” White said.
“Both the properties in this instance were purchased less than 18 months ago, with the vendors making big margins of around 100% from what they paid.”
Another major factor impacting the eastern suburban market is the arrival of Chinese developers. 
“Many offshore developers are familiar with the eastern suburbs market through family living in Australia. Suburbs such as Glen Iris, Kew and Canterbury are highly regarded by many locally based Chinese families, therefore when an offshore Chinese buyer is looking to acquire a site, these areas are high on their preference list.
“Whilst 1455 High Street &amp; 2a Scott Grove was acquired by a local developer, the majority of bids received were from offshore Asian groups.”
The Glen Iris sale follows recent group selling deals at South Yarra, Cheltenham and Camberwell.
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Glen Iris owners band together for $6.637 million Melbourne sale

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GUEST OBSERVER
Approvals came in well above expectations with a 3.9% rise vs consensus forecast of a 2.5% decline.
The upside was due to a jump in high-rise approvals in NSW and Vic, where total approvals rose 20%.
The rest of the detail was soft, consistent with a moderate underlying downtrend in approvals.
Monthly volatility continues to make pinpointing the pace of this slowdown difficult although it still appears to be mild.
 Details 
Private houses  -2.1%mth, -1.9%yr   Private 'units'    10.6%mth, 29.6%yr                
NSW     22%mth, 27.1%yr   Vic       21.2%mth, 18.1%yr  Qld       -28.7%mth, 14.2%yr WA       -1.1%mth, -20.8%yr SA        23.4%mth, 15.1%yr                 
Alteration &amp; additions^   3.7%mth, 8.9%yr Non-residential^             -1%mth, 19.6%yr
 
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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jchancellor-FAypfDUnLy

Australian dwelling approvals October 2015: Westpac's Matthew Hassan

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The first day of apartment sales at The Towers at Eli­zabeth Quay on Saturday secured $100 million plus in sale with about 80 apartments sold.
PRD Nationwide director Angus Murray, marketing agent for the units, said it was the most successful launch he had seen in his career - mostly been to locals, with a lot of baby boomers.
Murray hopes at least 200 of the 279 apartments sell in the coming weeks, reaping $300 million.
Real Estate Institute of WA president Hayden Groves told the local paper it was believed to be the greatest amount of money taken on the first day of sales at a Perth apartment development.
Industry sources said it could also be the first time a one-bedroom apartment in Perth had sold for more than $1 million.
Prices range from $600,000 for a one-bedroom apartment, to $12 million for the three-level penthouse.
Prices included a 54 sqm one-bedroom apartment at $783,000, about $14,500 per square metre, which is more than the $9000 Perth median.
Developer Far East Consortium is also building a 204-room Ritz-Carlton hotel.
<div><img src="https://resources2.news.com.au/images/2015/04/11/1227300/048962-015c10f4-df64-11e4-9fcd-1eb8ac734e9b.jpg" alt="New artist impressions of the Elizabeth Quay residential towers." width="650" height="366"></div>
 
More than 4000 people had registered their interest in the apartments in the early days of the project being announced.
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Perth's Elizabeth Quay secures $100 million in first day sales

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The Nylex clock that has stood watch since the 1960s over inner east Richmond, Cremorne and South Yarra will be restored to working order as the centrepiece of an ambitious new residential, commercial and tourism destination for Melbourne.
Caydon has lodged applications for development at the former maltings site in Cremorne, which is bordered by Gough Street, Cremorne Street and Harcourt Parade.
Caydon has owned the Harcourt Parade parcel of the site since 2008 and acquired the remaining Gough Street parcel last year.
The 1.4 hectare precinct will be known as the Malt District in a nod to its former use as a storage facility for malt used in brewing beer, and as the historical home of the old Cremorne Brewery.
Caydon has been working with architects Fender Katsalidis and landscape designers Oculus to re-activate its past.
This has included consultations with heritage experts Lovell Chen, City of Yarra planning officials, Parks Victoria and other key stakeholders, to achieve a development outcome that unlocks the site’s potential whilst respecting its past including restoring the Nylex clock.
The Nylex Clock was built by Neon Electric Signs in 1961 for Nylex Plastics Ltd and is a much-loved Melbourne icon. Above the sign is an LED clock that shows the time and temperature.
“This project is about so much more than building somewhere for people to live," said Caydon principal Joe Russo. 
"It’s about creating a vibrant destination where small businesses can make a start, artisans can display their craft, and where local and international tourists can visit for a drink or a meal."
Joe Russo is the passionate Richmond supporter to have controversially nominated for the board at this year’s annual general meeting.
"While I am regularly told that we are on the cusp of achieving the ultimate success – an AFL Premiership, the scoreboard does not lie.
"We haven’t won a final since 2001 or a flag in 35 long years.
"I am standing as a candidate because I want my kids and all Richmond members to experience what I did in 1980.
"I was at the MCG that day with my father – also a devoted Richmond man.
"I can still remember the sheer ecstasy of winning.
"Since 1980, three generations of Richmond supporters have been left disappointed, deprived of success year after year. I can no longer sit by and watch the team I love continue to show incremental improvement without realising our pursuit of sustained premiership success.
"Until now, I have kept a low profile in my private life and business interests, including my support of the RFC.
"I have been a significant contributor to the Fighting Tiger Fund under the condition that the VFL development team be bought into competition a year earlier than anticipated.
He told members in his application that Caydon Property Group was Melbourne’s largest apartment developer.
"From humble beginnings, developing townhouses in the outer northern suburb of Thomastown, my company now employs over 60 staff.
"I have completed over $1 Billion in developments to date, with a further 4,500 apartments in our pipeline worth in excess of $2 billion.
"This includes the famous Nylex site in Cremorne that will be Melbourne’s new inspired destination at the Punt Road end. 
<a href="/expert-insights/buying/leaps-and-bounds-as-caydon-buys-the-richmond-malt-complete-with-nylex-clock">The project</a> is expected to cost around $1 billion, with plans for up to a 1,000 apartments and serviced apartments. There will be parking for 1,000 cars.
There will be 6,000 square metres of retail and commercial space including bars, restaurants and other entertainment venues with Oculus founding partner Bob Earl, the project’s landscape designer.
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Nylex clock to star in Melbourne's new 'Malt District'

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Three 2.32-hectare allotments of land have been snapped up by private owners, as the NSW Department of Planning &amp; Environment auctioned off a former quarry site at Castlereagh, near Penrith.
Lots 11, 12 and 13 Smith Road, Castlereagh, were released by the government following a reclamation process.
“As the site was formerly home to a quarry, this land sale has been 6 or 7 years in the making, following a significant number of studies and land works to ensure the blocks were suitable for sale,” said selling agent Lori Howell of Raine &amp; Horne Penrith &amp; Mid Mountains.
<img src="/images/2015/11/26/700_Raine.jpg" alt="" width="558" height="372">
She said there were more than 200 enquiries, with 25 registered bidders at auction. 
Lot 13, which backs onto the Nepean River and has direct riverfront access, went well above its reserve after a bidding war which drove up the price to $1.501 million.
Lot 12 sold for $1.205 million, while Lot 11 fetched $980,000.
“To say the interest in these properties was huge would be an understatement, and their quality and location ultimately made them easy to sell,” added Ms Howell.
The more than 130-year-old quarry in Castlereagh closed down earlier this year. Material from the quarry was used to build the Sydney 2000 Olympic venues.
The government plans to transform the site into a series of recreational lakes and housing, according to a report in the Daily Telegraph.
The lots are neighboured by Princes Farm, the equine facility of the late Melbourne Cup king Bart Cummings, and Huntington Estate, a luxury 12-acre property formerly owned by trucking industry veterans Pam and Albert Hunt of Hunt Specialised Transport.
“The land was leased for many years by Princes Farm for running their horses, so the land definitely has a thoroughbred reputation.”
Howell says her equestrian background also helped her win the listing.
“The property was originally put up for tender by the government, and as part of my process I ended up walking every inch of the land to get a real feel for it," she said.
“I found that with my background in show horses and judging, and the fact that the property had been used by Princes Farm for equestrian purposes, this gave me some great inside knowledge of the lay of the land, which ultimately helped me win the tender."
 
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Castlereagh lots snapped up as NSW government auctions former quarry site

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Valuation firm Herron Todd White suggests investors are attracted to the Wide Bay region due to the affordability of land, houses and units in the area.
Their recent November review notes that interstate investors seem to be attracted to new stock in outer suburbs such as Moore Park Beach and Branyan producing housing around mid to high $300,000 and obtaining rentals of around $340 to $350 per week. 
"However, these houses when offered back to the market for sale to local purchasers are not achieving original construction prices."
Sales volumes have remained steady in 2015 but values have remained static with most activity being in the sub $350,000 range.
Rentals appear to be stable with a standard 3-bedroom timber house in Bundaberg averaging $260 to $290 per week and a 4-bedroom modern brick house averaging $345 to $370 per week.
Vacancy rates are at about 4%.
HTW detect confidence appears to be growing with the current low interest rates, federal government incentives and average vacancy rates encouraging both first home owners and investors to remain in the market during 2015. 
Its prior report noted houses that were previously flooded and now fully renovated were being sold in a strengthening market.
The prior reports also noted unit sales in the Bundaberg town area had been slow. Prices range from $107,000 for a 1-bedroom, 1-bathroom renovated unit from the 1970s to a circa 2005 3-bedroom, 2-bathroom unit with 2-car built-in garage for $300,000.
The main sellers are the 2- and 3-bedroom units that range from low $200,000 to $300,000 for the 3-bedroom units.
The construction of new unit stock was described as sporadic - mainly four pack complexes with some larger ones.
Median rentals range from $225 per week for 2-bedroom units to $280 per week for the larger 3-bedroom units. Yields are around 5% 
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Bundaberg new homes cheaper when sold back to locals by interstate investors: HTW

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Lendlease have been granted permission to build again on Victoria Harbour.
The development at 1 Collins Wharf at 909 Collins Street will give the opportunity for residences to live on the waterfront.
The proposed development will feature a 28 level residential tower with 311 apartments.
The tower will be made up of 91 one bedrooms, 207 two bedroom and 13 three bedroom apartments, all featuring water views.
There will be 10 terrace houses on Collins Street featuring three bedrooms plus a home office over three levels with a roof top terrace and internal lift.
Resident-only facilities include a pool, gym, club lounge, dining room and function room.
The building is also targeting a five-star green rating from the Green Building Council of Australia after new Melbourne Kathmandu store scored the first five-star in Australia.
The development is to be designed by award winning architects Bates Smart. 
Bates Smart director Kristen Whittle said its north and south elevations maximise the double waterfront views. 
“This highly sculptured tower is fortunate to be surrounded by water; a situation completely unique within Melbourne. . 
The $6.1 billion Victoria Harbour development spans 30 hectares with 2.5km of waterfrontage, a precinct that boasts over 80 retailers and 8000sqm of community facilities.
The prices for the apartments are set to range from $465,000 to $1.5 million. The terraces, with an average size of 201sqm, will be priced around $2.4 million.
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1 Collins Wharf, Lendlease's latest residential offering

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Brisbane's newest luxury riverfront project, Banc has been launched offering larger home-style apartments.
Fronting Coronation Drive, Toowong, it will have 33 apartments with the higher levels having up to 230sqm of living space with private lift to door entry. 
The <a href="https://www.bancliving.com/sky-homes/" target="_blank">Banc Sky Homes</a> span levels six to 14 - with two residences per floor.
"Up until now, most high-end downsizers have had to buy and amalgamate multiple apartments to achieve their desired floorplan," said Peter Hutton of Hutton and Hutton.
The project's two and three bedroom apartments are priced from $899,000 and $1,390,000.
Banc is designed by WMK Architects and SJB Interiors is located at 527 Coronation Drive, Toowong. 
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Banc's high-end downsizers pitch in Brisbane's Toowong

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John McGrath has pinpointed the infrastructure projects set to trigger price growth in benefitting suburbs.
Major projects in Brisbane are shortening the city commute and unlocking affordable outer suburban areas previously dismissed by city families for being too far to travel for work, he noted on his Switzer blog.
"This is providing growth stimulus for local property prices."
Brisbane 
New projects Moreton Bay Rail - 2013-2016 
<img src="https://www.switzer.com.au/assets/8133/20151109mcgrath2_normal.png" alt="" width="374" height="121"> * by car Inner City Bypass (ICB) - completed 2002
<img src="https://www.switzer.com.au/assets/8134/20151109mcgrath3_normal.png" alt="" width="373" height="109"> 
 
He pointed out that history shows that major infrastructure can have a direct and meaningful impact on property prices, pointing to the 2002 Inner City Bypass.
He identified the Moreton Bay Rail as among best new projects currently underway that he felt will have a big impact on local property prices. 
Moreton Bay is home to 350,000 people, making it Australia’s third largest LGA and one of the fastest growing, with the population to tip 500,000 by 2031.
The $1.147 billion project involves a new 12.6km dual-track rail line, with every full train taking 600 cars off the road.
There will be six stations at Kippa-Ring, Rothwell, Mango Hill East, Mango Hill, Murrumba Downs and Kallangur connecting to the existing Petrie to Brisbane city line.
 
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