The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Sydney off the plan apartments

Rarely does an opportunity come along to buy brand new in the heart of the UNESCO World Heritage-listed Blue Mountains west of Sydney.

Yarrabee, in Katoomba,&nbsp;comprises just 24 designer three-bedroom duplex residences designed by Gelder Group Architects overlooking the old Katoomba Golf Course.

Yarrabee aims to provide residents with a lifestyle focused on wellness and rejuvenation amidst nature. The homes ensure maximum comfort and convenience against a tranquil parkland backdrop.

Constructed from robust concrete and masonry, each residence prioritises durability and longevity. Thoughtfully crafted floor plans seamlessly connect living and bedroom spaces, whilst timber stairwells promote a sense of connection and continuity within the home.

[smartcode_project:default project_id=142688 project_image_fid=233338]

An open-plan layout fosters a warm, inviting atmosphere in every home's living and dining spaces. Large glass sliding doors and commercial glazing usher natural light and frame views into the parklands—creating a bright, airy atmosphere, while ducted air conditioning ensures year-round comfort. Residents can enjoy the afternoon breeze while sharing a meal with family or entertaining friends.

The kitchen features engineered stone benchtops, brushed nickel tapware, SMEG appliances, and premium finishes for a perfect balance of functionality and aesthetics.

Residents can unwind in style and comfort in Yarrabee’s luxurious bedrooms, featuring terrace access and versatile usability options.&nbsp;

[smartcode_project:default project_id=142688 project_image_fid=233340]

Abundant natural light enhances each bedroom's warm and inviting ambience, while premium-selected carpets offer a touch of luxury underfoot. The terrace access provides residents a private spot to enjoy the early morning Blue Mountains air.&nbsp;

Oversized master bedrooms boast ensuite bathrooms, with some residences featuring a walk-in wardrobe for ample space.

Designed with versatility, the third bedroom allows residents to use it as a home office, nursery, or guest bedroom.

From elegant tapware to a spacious, light-filled design, Yarrabee’s bathrooms are the perfect places to start and end the day. The light colour scheme and strategically placed windows create openness, welcoming natural light while maintaining privacy. Brushed nickel tapware adds an elegant touch, and mirrored wall cabinets offer beauty and practical storage.

[smartcode_project:default project_id=142688 project_image_fid=233342]

All residences include spacious garage access and a security intercom system, optimising space for functionality, comfort, and security. A selection of the tri-level duplexes facing the parklands offers internal lift access.

Yarrabee, with its unmatched lifestyle and connectivity options, is just a short drive from local landmarks such as The Three Sisters, Everglade House &amp; Gardens, The Scenic Skyway, and Leura Cascades.&nbsp;

Yarrabee is under construction by builder Hancon, with completion expected in early 2024.

[smartcode_project_cta:default project_id=142688]

Yarrabee is under construction by builder Hancon, with completion expected in early 2024

Staff Writer

Yarrabee Katoomba: Rare new off the plan duplexes in the Blue Mountains

KDMC, a long-time developer in Sydney's North West, is set to launch its next residential apartment development, Ophora in Tallawong, which will become one of&nbsp;Sydney's most affordable apartment complexes to offer a coveted 10-year Latent Defects Insurance (LDI), and the first within Blacktown City Council.

Ophora, which will comprise 81 residential apartments that are priced from $475,000 for a one-bedroom apartment, is currently under construction and due for completion next year.

KDMC&nbsp;is a leading Australian provider of property development, management, and capital services. KDMC was one of the first developers to identify Sydney’s North West as a potential for future growth back in 2009, and among the first to make applications to the Blacktown City Council for high-density residential projects in the area.

According to SHC Insurance Brokers, Ophora is one the city’s most affordable developments to come with the new LDI, which offers buyers a 10-year insurance policy post-completion on all structural elements of the building. LDI is being offered exclusively through Resilience Insurance, with SHC Brokers being one of only four approved distributors of the insurance nationally.

<img alt="Ophora Tallawong" data-entity-type="file" data-entity-uuid="1d3a643d-4889-4900-8754-e926519e3cbd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-13%20at%2010.30.06%20am_0.png?VersionId=UminHMbQ52A0e4KRMrcSCqKx3fsGySVq" />

Just under 60 developments across the nation now boast LDI, which was brought to Australian shores in November last year. It is a government-approved alternative to the mandatory Strata Bond – worth two per cent of a building’s construction cost and is tipped to play a role in building buyer confidence.

LDI was incorporated by the NSW Government and the NSW Building Commissioner - David Chandler OAM - into the 2019 building reforms to extend consumer protection. The reforms strengthen the administration of building regulation and certification and enhance the accountability of certifiers while also maintaining a best practice building regulation and certification system.

How LDI is driving buyer confidence across Sydney’s residential buildings&nbsp;

KDMC Development Manager, Ronnie Rahme, said while their projects had long been synonymous with providing much needed quality housing across Sydney’s North West, offering LDI at Ophora meant they could provide peace of mind to first home buyers and investors, offering 10-year insurance and coverage over $50 million.

“Rebuilding confidence among apartment buyers has become crucial for many Sydney developers since the Opal Tower crisis back in 2019, when occupants noticed major defects in the building not long after it was completed. It’s why, in a nutshell, we were quick to acquire LDI before we began construction on Ophora,” Rahme said.

“This means a far higher surety of compliance with standards, codes, and safety for our buyers’ new home is provided in addition to Design and Building reforms implemented by the NSW Building Commissioner.&nbsp;

“Given the gravity of the nation’s housing crisis, coupled with a slew of construction horror stories that rocked the apartment sector over the past few years, we understand there’s a greater need than ever to provide safe, quality and affordable housing to all. LDI removes a lot of the unethical and untrustworthy behaviour we’ve witnessed from builders across Sydney. It helps us send the message that entry-level prices don’t equate to a sacrifice on safety or quality."

<img alt="Ophora Talllawong" data-entity-type="file" data-entity-uuid="f3540717-8095-4e32-b15e-92f8d0c75a31" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-13%20at%2010.32.02%20am.png?VersionId=l32YExJkQpn.wRqMSyn2d8a_98y8ApbM" />

KDMC are also&nbsp;in the process of incorporating the&nbsp;KPMG&nbsp;Building Trustworthy Indicator, which collates data on the regulated design and construction process in a bid to build trust of the building ecosystem by providing transparency to buyers.

SHC Insurance Brokers founder Stefan Hicks said while a handful of Sydney developments were quick to embrace it, KDMC’s Ophora would be among the first entry-level residential apartment complexes to offer LDI, and the first in Blacktown City council.

“Gaining LDI is no mean feat," Hicks said.

"It’s offered selectively to developers and builders with a quality building history, and it requires both parties to employ an independent inspection service throughout construction. While this insurance is well-established around the world in about 40 countries, in Australia we’re typically seeing high-end buildings covet LDI. The fact that Ophora has joined this exclusive list of quality-assured builds is a coup for entry-level home buyers.”

About KDMC’s Ophora residential project

Ophora is one of three developments currently under construction in Tallawong, within the city’s fast-growing North West corridor.

<img alt="Ophora" data-entity-type="file" data-entity-uuid="d3659684-db9c-4888-ba0b-fec6f60887ab" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-13%20at%2010.30.14%20am.png?VersionId=TIJS6LP5JbZxTwtJLV6jOQgpbHF8jc_b" />

Ophora is located just two kilometres from two train stations (the new Tallawong Metro Station and Schofields Train Station) while being less than a two-minute walk from the nearest bus station. One-bedroom apartments are priced from $475,000, two-bedroom apartments from $625,000, and three-bedroom homes are from $745,000.

Rahme said while construction was due to be completed around the third quarter of 2024, they had already received strong interest from potential buyers, with a strong surge of first home buyers taking advantage of the Government’s $10,000 First Home Owner Grant.

Ophora’s display suite launch is scheduled for early 2024.

Ophora is one of three developments currently under construction in Tallawong, within the city’s fast-growing North West corridor

New Tallawong apartment development to offer 10-year Latent Defects Insurance

Spring Square by Poly ticks all the boxes for the first home buyer: affordability, community, strategic location, and quality interiors.

The <a href="/news/nsw/nsw-stamp-duty-the-july-1-2023-change-that-will-affect-first-home-buyers">substantial change in stamp duty concessions</a> by the NSW Government earlier has kicked started first home buyer interest in the off the plan apartment market. Every apartment at Spring Square subject to no stamp duty for first home buyers.

The previous threshold of $650,000 has now increased to $800,000, with staggered concessions applicable for properties up to $1 million. The New South Wales government estimates that a first home buyer acquiring an $800,000 property will save up to $31,090 under the revised regulations.

Apartments at <a href="/buildings/spring-square-by-poly-bankstown-32-kitchener-parade-bankstown-nsw-2200">Spring Square by Poly </a>start from just over $450,000, and the two-bedrooms from $645,050. The priciest two-beds start from $714,400.

Poly Global also extends a five per cent discount on the retail pricing for all apartments at <a href="/buildings/spring-square-by-poly-bankstown-32-kitchener-parade-bankstown-nsw-2200">Spring Square</a>, making it even easier for first home buyers and opening the door to savvy investors.&nbsp;

[smartcode_project:default project_id=7054 project_image_fid=47627]

Located on a 46,400 sqm site at <a href="/buildings/spring-square-by-poly-bankstown-32-kitchener-parade-bankstown-nsw-2200">32 Kitchener Parade</a> at the site of an old RSL, <a href="/buildings/spring-square-by-poly-bankstown-32-kitchener-parade-bankstown-nsw-2200">Spring Square</a> comprises 516 apartments across five towers over significant retail and commercial space.

Designed by Scott Carver, the buildings take on a striking contrast of tonal brick, extensive glazing, and vertical louvres.

The master plan includes retail shops, a 684 sqm “health services facility,” a childcare centre, and a basement car park with 714 parking spaces.

Residents also benefit from various communal spaces, with interconnecting walkways and green parks.&nbsp;

[smartcode_project:default project_id=7054 project_image_fid=47631]

One of the standout features of Spring Square is the through-site link steps that traverse the development, serving as its iconic landmark. These steps provide access to both sides of the precinct and serve as a meeting point for residents to socialise and foster community.&nbsp;

The gardens within Spring Square are a vibrant and diverse playground with lush green lawns and native trees, offering the perfect backdrop for outdoor activities and relaxation, encouraging residents to unwind and connect with nature.

The outdoor barbecue and kitchen areas allow residents to enjoy alfresco dining with family and friends. Interspersed throughout the gardens are seating nooks that offer peaceful spots to relax, read a book, or enjoy the surroundings.&nbsp;

[smartcode_project:default project_id=7054 project_image_fid=47632]

But it's not just about the green spaces. Spring Square will also be home to several small cafes, bars, and outdoor al fresco dining options. These will spill out onto the podium and ground level, creating a vibrant social hub at the residents' doorstep.

Upon entering Spring Square, residents and visitors are greeted by the grand ceiling of the impressive lobby, featuring detailed bronze textures and warm lighting for a welcoming atmosphere reminiscent of a boutique hotel.&nbsp;

The apartments come in various single and double-level layouts and crossover arrangements. The mix of living options caters to diverse residents, providing a flexible and dynamic living environment.

Each open-plan apartment features floor-to-ceiling windows that bring the outside into the living and dining areas, overlooking Spring Square's landscaped plaza.

[smartcode_project:default project_id=7054 project_image_fid=47636]

The modern kitchens boast ample storage space and high-end appliances. The 20-millimetre Caesarstone benchtops, powerful gas cooktops, and contemporary chrome tapware add to the elegant vibe, while the tinted mirror splashbacks elevate the overall aesthetic.

The bedrooms also feature large windows that invite morning sunlight and fresh air, while the plush carpets add an element of warmth and cosiness to the space. Some bedrooms have outdoor balconies and courtyards, allowing residents to bask in the first light of the day from the comfort of their beds.

Designed with style and functionality, the bathrooms have wall-hung vanities, streamlined shower screens, and a shower and bathtub.

With sustainability no longer optional for residential design, Poly Australia also integrated sustainability measures into the development, including greywater recycling, a central hot water system, solar panels, and energy-efficient air-conditioning. The project holds a BASIX rating for water efficiency.

Situated at the northern end of Bankstown's commercial precinct, Spring Square by Poly is strategically positioned to benefit from the renewed Canterbury-Bankstown to Sydenham corridor and the new Sydney Metro train line, just 300 metres away.

[smartcode_project_cta:default project_id=7054]

The substantial change in stamp duty concessions will also help more prospective buyers to enter the market, with every apartment at Spring Square subject to no stamp duty for first home buyers

How Bankstown's Spring Square by Poly apartments tick all the boxes for a first home buyer

It's always quite fascinating talking to developers. No two conversations are ever the same.

They've all got a different story, a varying level of experience and completed development pipeline. Most importantly, every developer has a different way of doing things, from how they identify development sites to what type of product they develop.

Established Sydney property developer <a href="/developers/billbergia">Billbergia</a> found where they would sit in the Sydney off the plan apartment market in the mid 1990s, after starting life in 1988 as a civil contracting company before focusing on townhouses and low-density apartment development.

The strategy was a simple but effective one, and it was a strategy that relied heavily on location.

They doubled down on the waterfront, where they've in essence created whole suburbs. While the strategy has evolved in recent years to create communities around strong transport links in the likes of Lidcombe, Arncliffe and West Ryde, waterside suburbs are where the developer is still where the action is.

Speaking recently to Joseph Kinsella, third generation Kinsella who is the group Director, it was clear <a href="/developers/billbergia">Billbergia</a> knew what type of apartment developer they would become right from the outset.

"Dad [<a href="/developers/billbergia">Billbergia</a> Founder John Kinsella AM] saw an opportunity to acquire and amalgamate areas near both water and transport and took ownership of large sites in Meadowbank, Rhodes, Wentworth Point and Camelia.

"History has always turned its back to the water. It's where industrial precincts were located and where unloading and loading were the main activity. But the natural transition, as Sydney's gentrified and come out of the industrial era, these locations are at a premium," Kinsella says.

<a href="/developers/billbergia">Billbergia</a> completed their Meadowbank precinct, Waterpoint Shepherds Bay&nbsp;complex where the family office is located, over a decade ago, and with it between 800 and 1000 apartments.

Meadowbank is located just across the Parramatta River from Rhodes and Wentworth Point, where <a href="/developers/billbergia">Billbergia</a> is still developing.&nbsp; They've been developing in Wentworth Point almost as long as the suburb has existed. Previously part of Homebush Bay West, it was only 2009 when Wentworth Point became its own suburb.

"Construction in Wentworth Point started in around 2010, but the visioning of the project happened long before that," Kinsella said.

"There were mostly just four to eight-level apartment projects, no real town centre, no schools, and not much opportunity for pedestrian activity or transport.&nbsp;

"Fast forward 12 years and there's a thriving community with a vibrant town centre, around 3,000 apartments, and transport in and out of the suburb, both by bus, car, and the now famous public transit and active transport Bennelong Bridge.

<a href="/developers/billbergia">Billbergia</a> has just unveiled updated plans for its Bennelong Cove project,&nbsp;the final stage of the multi-national award-winning 11-hectare master-planned community at Wentworth Point in Sydney’s inner-west.

The proposal also incorporates a waterfront promenade with amphitheatre, restaurants, cafes and a registered club and pub to activate the foreshore promenade with a major 16,000 sqm new park in the heart of the town centre. It’s accompanied by $70 million in new community and social infrastructure, a $36 million multi-purpose indoor and outdoor sports and recreation centre with outdoor courts, as well as two childcare centres.

Read more:&nbsp;<a href="/news/nsw/billbergia-unveils-updated-plans-for-bennelong-cove-wentworth-point-masterplan">Billbergia unveils updated plans for Bennelong Cove, Wentworth Point masterplan</a>

<img alt="Billberbergia" data-entity-type="file" data-entity-uuid="b8e06889-191b-4fe6-9ddd-3dc5aae3c865" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-11%20at%203.40.26%20pm.png?VersionId=uqGmynh1w0AWIAHVqVVxPD7WiO8AkuNw" />

Over in Rhodes, accessed by Bennelong Bridge from Wentworth Point over Parramatta River which <a href="/developers/billbergia">Billbergia</a>&nbsp;developed, Kinsella says they've seen a number of different markets and cycles over the 15 years they've been developing in the suburb.

"The unit mix back in the early 2010's was typically more investor focused, ones and two-beds mainly. You couldn't sell a three-bed apartment 15 years ago," Kinsella said.

"Now there's more infrastructure, a primary school and construction nearing completion for a new high school, the suburb has transitioned from investor friendly to owner-occupier. Everything is two and three-bedrooms with some family four-bedders.

"Owner-occupiers are seeing a suburb which is more appealing, affordable and lower maintenance home for family living compared to the traditional family home which is now out of reach for so many in a quality suburb. There's everyone from families to young professionals who both Rhodes and Wentworth Point are appealing to."

Kinsella says there are two halves to Rhodes, the east and the west, with the train station as the centrepoint.

"The west side is where the majority of rezoning happened in the early 2000s, and that's all but delivered. We recently completed the Super neighbourhood shopping centre Rhodes Central, adjacent to the train station entry on the west side. That's really the hub of the suburb for shopping."

<a href="/developers/billbergia">Billbergia</a> is currently developing stages two and three of Rhodes Central, two apartment towers with a community recreation centre on three levels in the podium. The two towers, with 674 apartments, will be the second to last piece in that precinct, with <a href="/developers/billbergia">Billbergia</a> currently in discussions with council about providing additional infrastructure to the suburb with the possibility of a bus interchange adjoining the train station.

In October <a href="/developers/billbergia">Billbergia</a> submitted plans for&nbsp;a 37-level, 244-apartment tower at&nbsp;9-13 Blaxland Road, Rhodes.

The proposed new sustainable tower features a striking slender form designed by architects GroupGSA in collaboration with Singaporean landscape studio Salad Dressing - whose exterior design concept earned them first place in a design excellence competition for the site.

Aligned with the principles of the 2021 Rhodes Place Strategy, the proposed new tower sits within the&nbsp;<a href="/developments/rhodes-nsw-2138">Rhodes</a>&nbsp;Station Gateway East precinct that was rezoned by NSW State Government in 2021 following extensive community consultation.

Read more:&nbsp;<a href="/news/nsw/billbergia-file-for-sustainable-rhodes-apartment-development">Billbergia file for sustainable Rhodes apartment development</a>

While continuing their strong foothold in Wentworth Point and Rhodes, <a href="/developers/billbergia">Billbergia</a> has branched out over recent years.

They have Arncliffe Central, a multi-stage development near the Sydney Airport and the first masterplanned community of its scale in Arncliffe.

In partnership with the NSW Government Land and Housing Corporation and community housing provider Evolve Housing, Arncliffe Central will deliver four towers with over 800 apartments above a retail podium, as well as parklands, a&nbsp;brand-new community centre, childcare facility, full-line supermarket with supporting retail, and an ‘eat street’ restaurant and café precinct on the 1.3-hectare site.

They also have just completed four towers at Lidcombe Rise adjacent to the Station, providing 41 per cent social and affordable housing, and three apartment towers at The Parade in West Ryde, next to the West Ryde Train Station.

<a href="/developers/billbergia">Billbergia</a>&nbsp;is widening its net once again, not only to a new suburb, but a whole new area with their latest plans, a two-tower, work-from-home focused development in Chatswood.

The PBD Architects-designed towers at 8 Wilson Street, which will be the developers first foray into the North Shore market, will be connected by a podium with retail, commercial showrooms, and flexible SOHO style live/work offerings.&nbsp;

The two 27-level towers will have 251 apartments.&nbsp;

Read more:&nbsp;<a href="/news/nsw/billbergia-focus-on-hybrid-remote-working-at-new-chatswood-apartment-development">Billbergia focus on hybrid, remote working at new Chatswood apartment development</a>

<a href="/news/nsw/billbergia-focus-on-hybrid-remote-working-at-new-chatswood-apartment-development"><img alt="Bilbergia" data-entity-type="file" data-entity-uuid="9e7d0170-c7d9-4645-a989-50aaba2c237b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-11%20at%204.23.09%20pm.png?VersionId=.vmbAC9dlcoQ8xiN0RFJTqPhEHSa7YyO" /></a>

To highlight Billbergia's long standing in the Sydney off the plan apartment market, they were one of the first developers to work directly with Building Commissioner David Chandler OAM before highly anticipated iCIRT rating system was in place.

"We were one of the industry leaders who worked hand in hand to put the iCIRT rating system together, and we were one of the first to achieve the rating," Kinsella said, adding that the system is starting to make an impact.

"Initially the rating system was a bit slow until it got consumer recognition, but it's starting to get there," Kinsella said.

"It can be more of a marketing push for more and more developers, but ultimately from a consumer point of view, if you're set on a suburb and you see one developers project with it and another without it, people will naturally start gravitating to those developers."

On the outlook of the Sydney off the plan apartment market in 2024, Kinsella said there's a lot of demand drivers which will point to growth.

"Migration is there and there's growing demand, while supply is quite constrained due to planning, and even when supply is available, many projects still aren't feasible.

"Prices need to catch up, and off the plan apartment prices will have to go up for buildings to be developed."

Speaking recently to Joseph Kinsella, third generation Kinsella who is the group Director, it was clear Billbergia knew what type of apartment developer they would become right from the outset

Billbergia: The suburb-creating developer expanding its horizons

Riverlee has unveiled an expansive waterfront penthouse which will top its $600 million <a href="/new-apartments/seafarers-docklands-731-flinders-street-docklands">Seafarers apartment development</a> on the Docklands waterfront.

Designed by <a href="/developers/riverlee">Riverlee</a> founder and architect Clement Lee OAM in collaboration with Nonda Katsalidis and the team Fender Katsalidis, the 719 sqm, luxury penthouse has been priced from $18 million.

The apartment, with four bedrooms and four bathrooms, has been designed with its own personality and configuration to create a result that is refined and compelling,&nbsp;Fender Katsalidis principal Rosie Morley says.

“Generous scale, bold intersecting forms, integrated joinery and the masterful interplay of texture, colour, and light continue across every room,” Morley says.

“With framed views to green outlooks, these apartments use biophilic design to make luxury and simplicity one.

"Skylit conservatories and terraces provide an immediate sense of calm, and flexible floor spaces give residents the opportunity to come together or break away.”

<img alt="Seafarers" data-entity-type="file" data-entity-uuid="e940c95d-7cf0-4ac6-ba49-f238aaf1579d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-11%20at%202.08.35%20pm.png?VersionId=xn1gzNYIyWfHHpdEGxRazymPbtkz41pU" />

Home to Australia’s first 1 Hotel, the US-founded, nature-inspired luxury brand, <a href="/new-apartments/seafarers-docklands-731-flinders-street-docklands">Seafarers</a> will be home to the first completed hotel-branded residences in Melbourne.

Supported by the dedicated team of over 200 hotel staff, residents gain full access to guest amenities and hotel services such as housekeeping, in-room spa treatments, private chef, 24/7 concierge, botanical and pet care, valet, and signature 1 Hotel events.

Launching the penthouse to the market in the same month <a href="/developers/riverlee">Riverlee</a> kicks off its 30-year anniversary celebrations, Clement Lee says the luxury residence is a project of personal significance to himself and Riverlee’s in-house design team.

‘’The penthouse at Seafarers offers an experience that exemplars and exceeds the quality, functionality and placemaking that Riverlee has become known for," Lee says.

"This is the culmination of my career, 30 years as a developer and 40 years as an architect and urban planner.

“Working with our long-term project partners Fender Katsalidis, we have created something that signifies more than a home — it is the crown jewel of Seafarers and a legacy that I am personally very proud of.”

[smartcode_project:default project_id=27728 project_image_fid=173913]

Situated on the final piece of Melbourne’s original waterfront, the 18th-floor penthouse represents the last opportunity for uninterrupted views of Melbourne’s Yarra River, boasting its own 72 sqm biophilic open terrace, a rare offering for its height and scale. Inside it has&nbsp;floor to ceiling views, a private lobby entrance, wine cellar, formal dining, and cocktail lounge.

The 125 sqm master suite features&nbsp;Poliform walk-in robes, while guest bedrooms and social spaces are arranged around a grand central gallery and internal conservatory.

With construction underway, 1 Hotel &amp; Homes Melbourne is set to open in 2024. The Agency co-founder Steven Chen says the premium offering and the imminent timing of the penthouse’s completion will be of interest to high net-worth clients looking for a brand new turnkey residence.

[smartcode_project:default project_id=27728 project_image_fid=173942]

“This is a rare offering in terms of location, the immense size of the residence and the integrated 5-star hotel services and amenities on offer, so we are anticipating strong interest,” Chen says.

“With breathtaking views of the Yarra River and the beautiful Melbourne CBD skyline, this lock-and-leave penthouse offers immense privacy and high security."

Chen believes there will be a lot of clients interstate and internationally that will want to acquire the penthouse as a second or third residence.

Recent findings by Knight Frank Research have revealed future demand for second homes, including branded residences, is expected to be driven by rising affluence, increased mobility, and the desire of wealthy investors to expand their residential property portfolios.

Fifteen per cent of UHNWIs have been considering a purchase in 2023, it reports, and global sales of prime and super-prime properties have rebounded, with Australia considered a favoured destination for second home purchases.

[smartcode_project_cta:default project_id=27728]

The Agency's Steven Chen believes there will be a lot of clients interstate and internationally that will want to acquire the penthouse as a second or third residence

Riverlee reveal $18 million penthouse atop Seafarers, Melbourne apartment development

The Minns Labor government has announced an enhanced Sydney Metro West project will be delivered, with the potential addition of new stations to help drive new housing supply.

The government is moving to link the construction of major new transport infrastructure in Sydney to major new housing uplift, and this focus will underpin Metro West.

It’s why the NSW Government has also directed Sydney Metro to work on increasing the delivery of new housing supply along the Metro West alignment, to support the government’s plan to build more well-located homes near new and existing transport infrastructure.

If we are going to tackle this crisis, to create more housing supply that will drive down the cost of renting or buying a home, our city is going to have to change.

We need well-located houses and apartments near well-connected transport infrastructure, so people have a place to call home, where they can move around our city easier. Metro West is the beginning of this.

<h3>More sustainable timeline to be adopted following Sydney Metro Review</h3>

The project will be reset to a more sustainable timeline, with the project expected to be completed by 2032.

The additional construction time means taxpayers will not be paying a premium to deliver the project and will provide the necessary timeframe to explore additional station and housing options.

The previous government left a 7-kilometre gap between Sydney Olympic Park and Parramatta metro stations.

To continue this project without maximising its potential to underpin the construction of thousands of new homes would have been an incredibly wasteful missed opportunity.

To that end, the NSW Government has directed Sydney Metro to complete scoping studies for up to 2 new stations to be constructed west of Sydney Olympic Park, along the existing planned route, with a decision made based on their ability to drive greater urban infill housing.

The announcement has been endorsed by the recommendations of the Sydney Metro Independent Review.

Independent reviewers Amanda Yeates and Mike Mrdak have concluded their thorough analysis of the Sydney Metro project. Their findings include:

<ul>
	<li>The government should commit to the current 9 station alignment of Sydney Metro West at a minimum, targeting an opening date of 2032. The reviewers made a point of noting the “arbitrary” nature of the previously announced delivery date determined by the former government.</li>
	<li>Ensure the current design and construction plans do not preclude additional stations from being considered as station locations in future.</li>
	<li>That Sydney Metro to provide a consolidated property and placemaking strategy across all existing lines to support the government’s priorities regarding housing supply.</li>
	<li>That a business case should be prepared to improve bus and active transport connections to broaden the catchment of the existing alignment.</li>
</ul>

Sydney Metro West will ensure tens of thousands of people will be able to live next to a ‘turn up and go’ service that connects them to their jobs, their services and their communities with a train every 4 minutes.

Sydney Metro will move to shortlist delivery partners and develop a procurement model that provides opportunities to get the most housing and the best return from this significant investment for the people of NSW.

<h3>MOU with the Australian Turf Club on Rosehill Racecourse</h3>

The critical need to deliver housing in well located areas, along transport links means the Minns Labor government has commenced discussions with the Australian Turf Club (ATC) on a <a href="/news/nsw/minns-labor-government-to-discuss-converting-rosehill-racecourse-into-25-000-new-homes">proposal to relocate Rosehill Racecourse and build up to 25,000 new homes</a>, surrounded by greenspace and a new Sydney Metro West station.

The proposal, which was brought to the NSW Government by the ATC, centres around the potential to build more than 25,000 new homes on the Rosehill Racecourse site. This would allow the government to explore the feasibility of a new Metro West Station at Rosehill.

The plan will secure the long-term future of horse racing in NSW and the 90,000 jobs it supports with several sites across Sydney to be earmarked and investigated for a new, world-class racecourse track and facilities.

The NSW Government and the ATC have signed an MOU on the potentially historic plan, which would be subject to the NSW Government’s unsolicited proposals process.

<h3>Enhancing transport links and boosting housing across the Sydney Metro West project</h3>

The Minns Labor government has also announced further work will also be considered to broaden the catchment of all Metro West stations with enhanced land transport links, like rapid buses to ensure that more communities will be able to benefit from this once-in-a-generation investment.

Sydney Metro has been tasked with preparing a rapid assessment to create new bus connections to broaden the catchment of the existing alignment.

This work will be subject to a future NSW Government investment decision, which would seek to have this infrastructure and services operational in time for first passenger services on Metro West.

The government will use the already legislated Housing and Productivity Contributions system to ensure some of the value created by government investments will fund future infrastructure.

NSW Premier Chris Minns said this project won’t just change the way people move around the city; it will now also provide the well-located homes for future generations to live in.

“Sydney Metro West is the biggest public transport project in the country. But we’re resetting Metro West to ensure it will be the city-shaping project it always should have been."

Transport Minister Jo Haylen said the&nbsp;review into Metro projects delivers Sydney an improved version of Metro West.

"It’s a new project for the whole of Sydney, building more housing and doubling rail capacity between the Parramatta and Sydney CBDs.

“It won’t just mean a new metro service, it means better train services for Western Sydney too, including in the outer west and Blue Mountains on the T1 Western line.

"Metro West will also cut crowding by 30% at stations like Strathfield, Redfern and Burwood.”

NSW Premier Chris Minns said this project won’t just change the way people move around the city; it will now also provide the well-located homes for future generations to live in.

Enhanced Sydney Metro to drive new housing supply

TOGA has secured 70 sales at its new Macquarie Park apartment development, Macquarie Rise, accounting for around 50 per cent of the first stage release.

Construction will begin in the second half of 2024 on the Herring Road development which will comprise three residential buildings, ranging from 12 to 14 levels with 265 apartments.

Allan Vidor AM, Managing Director at TOGA, said TOGA's long-standing commitment to creating quality developments and unique experiences has resonated strongly with buyers.

&nbsp;

“The sales success reflects the strong market demand for our high-quality, flexible apartments, as well as the trust in our ability to deliver exceptional living spaces," Vidor said.

"By accelerating the construction timeline, we are fast-tracking the supply of apartments into Macquarie Park, and the Sydney market."&nbsp;

[smartcode_project:default project_id=89243 project_image_fid=242695]

The development has attracted a diverse range of buyers, including owner-occupiers, first home buyers, families looking to upsize, and downsizers. Most of the buyers are locals, residing within a 10km radius of Macquarie Park, and are primarily interested in being close to amenity and transport.

The most popular product types have been the one and two-bedroom apartments with multi-purpose rooms, giving the opportunity for a study, music room or nursery, reflecting the market's evolving need for flexible living spaces.

[smartcode_project:default project_id=89243 project_image_fid=242700]

Macquarie Rise offers residents unparalleled access to Macquarie Centre, Macquarie University, Macquarie University train station and the upcoming Metro line due to open in 2024. The development is replete with exceptional lifestyle amenities, including a 20-metre lap pool, a club lounge with work and study areas, a pilates studio, gym, and cinema- karaoke room.

TOGA's General Manager of Sales, Anthony Falas, said the sales success reflects the exceptional design and amenity of the project, combined with a great location that’s connected to Macquarie Park and key transport hubs.

“Macquarie Park continues to show strong fundamentals for both investors and owner-occupiers with its vibrant community and thriving neighbourhood," Falas said.

Located at 122 Herring Road, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with a value of $375 million and is expected to be completed by the end of 2026.&nbsp;

[smartcode_project_cta:default project_id=89243]

TOGA's General Manager of Sales, Anthony Falas, said the sales success reflects the exceptional design and amenity of the project

TOGA's Macquarie Rise apartment development sells 50% of first stage release

Homebuyers have a new reason to be confident about building quality in NSW with the official opening of Building Commission NSW this week, the state’s first ever dedicated building regulator.

From today Building Commission NSW, led by Commissioner David Chandler, will open its doors.

The newly established agency will lift the existing Office of the Building Commissioner out of NSW Fair Trading to give staff dedicated resources and a clear focus on the building sector.

Delivering a standalone regulator was a key election promise of the Minns Labor government, ensuring builders and the homes they construct in NSW are compliant, safe and durable.

The change means NSW will go from just 40 staff dedicated to enforcing quality and standards in the building industry to more than 400.

Funded by a $24 million down payment in the NSW Budget, Building Commission NSW will be a one stop shop for regulation, licensing and oversight of the sector.

While the NSW Government is committed to tackling the NSW housing supply crisis after over a decade of inaction, the government will not allow quantity of homes to come at the expense of quality.

This is another milestone in the work the NSW Government has already completed to lift standards across the industry, including:

<ul>
	<li>new laws to dramatically expand the Building Commissioner’s powers over freestanding residential homes.</li>
	<li>elevating the sector to cabinet level with the first ever Minister for Building.</li>
	<li>boosting the capacity of smaller builders to deliver quality medium-density housing through initiatives like BuiltIt NSW.</li>
</ul>

The recent completion of Parq Bexley marks&nbsp;the first building in Australia to be covered by Decennial Liability Insurance (DLI), a decade-long guarantee against serious defects.

Parq’s builder Urban Property has also announced that DLI will be rolled out across all future projects.

[smartcode_project:default project_id=29078 project_image_fid=216582]

Owners in buildings covered by DLI can make a claim to get defects repaired for up to a decade after completion, whether their builder is still operating or not.

NSW is the first state in the nation to offer decennial liability insurance and the NSW Government recently passed laws to encourage more builders to sign up and protect buyers.

“In recent years we’ve heard horror stories about defects in apartment buildings but we’re turning the tide with Building Commission NSW," NSW Premier Chris Minns said:

“The Building Commissioner has made a start restoring integrity, now we’ve given him the powers and resources he needs to get on with the job.”

Minister for Building Anoulack Chanthivong said the Building Commission NSW will turbocharge our work to restore trust and integrity in the building sector, while&nbsp;Building Commissioner David Chandler OAM says the Commission's team comprises amazing, talented and committed people.

“It will be my privilege to lead this next phase of delivering the trusted housing that the state's community desperately needs.

“When I started this work everyone was driving towards the bottom of quality, now we are all working towards the top and Urban Property is a great example.”

Funded by a $24 million down payment in the NSW Budget, Building Commission NSW will be a one stop shop for regulation, licensing and oversight of the sector

Building Commission NSW opens to ensure compliant new housing

The Minns Labor government has announced discussions have commenced with the Australian Turf Club (ATC) on a proposal to relocate Rosehill Race Course and build tens of thousands of new homes, surrounded by greenspace and a new Sydney Metro West station.

The proposal, which was brought to the NSW Government by the ATC, centres around the potential to build more than 25,000 new homes on the Rosehill Racecourse site. This would allow the government to explore the feasibility of a new Metro West Station at Rosehill.

The proposal will also turbocharge NSW’s world-class racing industry, securing its long-term future.

The NSW Government and the ATC have signed a memorandum of understanding (MOU) on the potentially historic plan, which would be subject to the NSW Government’s unsolicited proposals process.

<h2>Under the ATC’s proposal:</h2>

<ul>
	<li>A centre of excellence horse training facility at Horsley Park to accommodate the relocation of 300 to 400 horses from Rosehill Gardens stables.</li>
	<li>Warwick Farm redeveloped as a state-of-the-art racing, training, member and spectator facility.</li>
	<li>Several sites across Sydney will be earmarked and investigated for a new, world-class racecourse track and facilities.</li>
	<li>ATC retains and develops the Rosehill Gardens site for housing (potentially 25,000 homes), entertainment, green space and a new school.</li>
	<li>Funds from the development invested in racing, training and member and spectator facilities at all racing, training and stabling venues.</li>
	<li>The NSW Government explores the feasibility of a new metro station at Rosehill to deliver reliable public transport for the new Rosehill Gardens community.</li>
</ul>

We know that housing affordability and availability are at their lowest levels in decades, and we are facing the lowest rates of rental vacancies and a slowdown in building approvals and construction activity.

This is the biggest single pressure facing the people of NSW, with mortgage payments or rent the largest expense for most households.

The NSW Government is committed to building more housing in the right places, where people want to live – to improve affordability, reduce building and infrastructure costs and create thriving communities.

<h2>The unsolicited proposals process includes:</h2>

<ul>
	<li>Strong probity, conflict of interest and confidentiality arrangements, including the appointment of a probity adviser to advise, monitor and report at each stage of the assessment process.</li>
	<li>Prohibitions on the proponent lobbying ministers or officials on the proposal, with clear communication channels established.</li>
	<li>Clear assessment criteria, timeframes and a streamlined process for objectively assessing the proposal.</li>
</ul>

NSW Premier Chris Minns said this is a once-in-a-generation opportunity.

"The ATC sees this as a chance to secure the future of racing in NSW," Minns said.

“The government sees this as an opportunity to put its money where its mouth is and build more housing, close to transport links, with plenty of green space for new families.

“This is exactly the type of proposal my government has been talking about over the last 6 months.

“The fact is we have a housing crisis – we aren’t building enough homes. The more supply we have, the more we can drive down cost of living pressures, whether it’s for renters or those wanting to buy their own home.”

NSW Premier Chris Minns said this is a once-in-a-generation opportunity

Minns Labor government to discuss converting Rosehill Racecourse into 25,000 new homes

Sydney is predicted to have the highest growth in luxury residential property prices of the Australian cities in 2024, according to Knight Frank research.

Knight Frank’s Global Prime Residential Forecast found the New South Wales’ capital sits in fifth place out of 25 cities globally for predicted prime property price growth next year, with 5% growth forecast.

Prime property is generally defined as the top 5% of property in each market. Melbourne came in at number eight for forecast growth in prime residential property prices over 2024, with an expected rise of&nbsp; 3%.

Globally, Knight Frank’s latest projections for prime prices in 2023 and 2024 were revised upwards by the global research network in its Global Prime Residential Forecast, foreseeing an average growth of 2.4% in 2023 and 2.5% in 2024.

<img alt="Knight Frank" data-entity-type="file" data-entity-uuid="53f3a14e-d1ea-43a3-98c5-e4e2f3b8cdc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-07%20at%2011.29.02%20am.png?VersionId=sOnYotq_Va2y8BXJRKfTzXcoz8QVKjEy" />

Both Sydney and Melbourne were in the list of 10 cities in Knight Frank’s Global Prime Residential Forecast that had seen an improvement in the luxury property price growth forecast for 2024. The 5% growth figure forecast for Sydney is a 2% increase on the original forecast for prime property price growth in 2024, made six months ago by Knight Frank, and is the second highest forecast price growth revision for next year behind Auckland.

Melbourne's forecasted price growth has jumped from 1% to 3%.

Both cities have also had better growth in luxury residential property prices than predicted over 2023, with price growth forecasts up to the end of this year also revised upwards.

Sydney’s forecast for luxury residential property growth for 2023 has been revised upward from 0% to 3%, while Melbourne’s forecast has been revised upwards from -1% to 1%, reflecting the better than expected performance of these two cities over 2023.

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Knight Frank Head of Residential Research in Australia Michelle Ciesielski said cautious optimism was emerging in the luxury residential property market globally, with prime buyers appearing confident that economic headwinds were easing.

“In Australia, buyer appetite is strengthening, while supply of prime properties is constrained,” Ciesielski said.

“The limited number of exceptional and most desirable prime residential property listings continues to create a price floor under many luxury Australian properties.

“This undersupply of luxury homes is one of the key factors set to shape the performance of the Australian prime residential market in 2024, with inflation and interest rates also set to play a big role.

“In saying that, in this upper echelon of the market, we are seeing an increasing number of cash buyers, with the proportion being 60% of all prime residential property sales in Sydney and 65% in Melbourne.

“Climate risk, geopolitical tensions and currency shifts are also expected to impact the Australian luxury property market.

“Amongst these risks there are opportunities, however, with property set to continue to appeal as a means to diversify and spread risk, being seen as a safe haven for capital.”

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Prime residential property has outperformed most other asset types over a 10-year period, with 55% growth, according to Knight Frank’s Prime Global Cities Index. It came in second behind oil, with growth of 110% over the same timeframe.

Knight Frank Head of Residential in Australia Erin van Tuil said in pockets of prime suburbs around Australia, record sale prices were being achieved, with some taking place before an advertising campaign takes place.

“Many of these properties are located on the waterfront, large estates and on the upper levels of apartment towers with panoramic views,” she said.

“The super-prime end of the market - especially A$20m-plus - is doing exceptionally well, with no shortage of buyers and limited homes.

“Most buyers are local Australian buyers, with a notable absence of foreign buyers committing to sales, despite enquiries.

“Relative to other Australian cities, Melbourne has counted more prime luxury product built over the past couple of years, which has made prime prices lag the stronger performance in other Australian cities.

“Melbourne is also still recovering from an extended lockdown in the pandemic, with city seeing many residents move interstate to Queensland and the slower return of international investors which the city relies heavily on.”

Knight Frank research shows in Sydney 5% of prime property buyers are foreign buyers, while in Melbourne it’s 10%.

Both Sydney and Melbourne were in the list of 10 cities in Knight Frank’s Global Prime Residential Forecast that had seen an improvement in the luxury property price growth forecast for 2024

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