Construction is underway at&nbsp;<a href="https://www.urban.com.au/new-apartments/wanda-terraces-caulfield-north-14-16-hawthorn-rd-caulfield-north">Wanda Terraces</a>, a boutique apartment development in <a href="https://www.urban.com.au/developments/caulfield-north-vic-3161">Caulfield North</a>.

Regard construction firm&nbsp;<a href="https://www.urban.com.au/builders/iurada">Iurada</a>&nbsp;is leading the build of the development of just 24 apartments at the junction of&nbsp;Wanda and Hawthorn Road, which will be ready for off the plan buyers in early 2026.

Buyers now have a narrowing window to purchase and customise their two or three-bedroom apartment, which now comes with no stamp duty thanks for the VIC Government's <a href="https://www.urban.com.au/news/qld/vic-abolishes-stamp-duty-for-off-the-plan-apartments-could-qld-be-next">recently introduced stamp duty policy.</a>

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The architecture of Wanda Terraces has been crafted by <a href="https://www.urban.com.au/architects/ewert-leaf">Ewert Leaf</a>, with landscaping designed by John Patrick. The apartments aim to cater to owner-occupiers seeking premium living in a desirable location, with large outdoor spaces and high-end finishes featured throughout.&nbsp;

The interiors are designed with both aesthetics and practicality in mind, with kitchens showcasing natural stone countertops, custom cabinetry, and European appliances.&nbsp;

The open-plan layout extends into living and dining areas, creating a central hub for daily life and social gatherings.&nbsp;

Each apartment also comes with ample terrace space for outdoor relaxation or entertaining.

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Residents will benefit from several advanced security and convenience features including biometric fingerprint access, number plate recognition for seamless entry, and secure parcel lockers.

Electric vehicle chargers are available in the basement, alongside a dedicated car wash and pet wash facility.&nbsp;Each apartment includes two car spaces, further enhancing the convenience offered to residents.

Located close to Caulfield Park, Wanda Terraces provides access to green spaces and recreational opportunities.&nbsp;

The proximity to public transport, including nearby tram lines, and the shopping options at Malvern Central add to the lifestyle appeal of Wanda Terraces.&nbsp;

Completion of Wanda Terraces is anticipated in early 2026.

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Regard construction firm Iurada is handling the build that will be complete in early 2026

Joel Robinson

Construction starts at Wanda Terraces in Caulfield

Sekisui House Australia's Veue Parkside, the latest addition to The Orchards masterplan in Norwest, has attracted significant interest from both downsizers, young professionals, and even investors.

Among the newest residents is Wendy Tranter, a director of an IT company, who recently purchased her fourth apartment in the development.

Wedny's journey with The Orchards began in 2021 when she moved into Imperial Stage 1. Over the next few years, she transitioned to Aire Stage 2 and later invested in a third property at Veue Central.&nbsp;

Now, she has secured an oversized two-bedroom apartment in <a href="https://www.urban.com.au/new-apartments/the-orchards-veue-parkside-15-19-spurway-drive-norwest">Veue Parkside</a>.

“After living in Kirribilli for more than 20 years and following my children moving into their own homes, I was looking for a low maintenance, beautiful apartment where I could peacefully reside and still have access to important amenities,"&nbsp;Wendy said.

"Living in The Orchards is everything I could have imagined and more.

"The buildings are well maintained, there are plenty of green areas to soak up and enjoy nature and the neighbourhood is very friendly. On top of that, we have Norwest Metro Train station, Norwest Hospital and a nice lake to stroll around all within a few minutes' walk."

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Veue Parkside, part of the $1 billion masterplanned community, features 156 apartments spread across two nine and 14-level buildings.&nbsp;

It also includes four townhouse-style residences and ten two-level units. The development is designed by <a href="https://www.urban.com.au/architects/crone-architects">Crone Architects</a>, with a vision that integrates the natural surroundings of The Orchards.

Sales at Veue Parkside have been largely driven by local Hills Shire residents, with the rest coming from across Sydney, including Vaucluse, Bondi Junction, and Maroubra.

<a href="https://www.urban.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> sales manager, David Lee, says there are few opportunities in Sydney’s north west to purchase carefully curated two-storey apartments or oversized four-bed sky homes.

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"Downsizers seeking an oversized parkside home with large living spaces as well as owner-occupiers and young professionals looking for an additional ‘work from home’ space represented the largest cohort of purchasers," Lee said.

“Oversized apartments presenting a two-storey living, most of which are now sold, properties enjoying a northerly aspect overlooking the prestigious Castle Hill Country club and two-bed max’s were the first to sell.”

Wendy, who works from home most of the time, appreciates the serene environment and the scenic vistas across Castle Hill Country Club.

“I enjoy waking up to the scenic vistas across Castle Hill Country Club and light streaming in via the expansive windows. The internal colour scheme with wood accents is beautiful and perfectly matches my décor. My apartment feels homely and suits my lifestyle."

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The Orchards’ concept of ‘Keinen Bika’ aims to create a community that blends seamlessly with the natural environment.&nbsp;

Veue Parkside residents have access to a communal function centre that opens up to landscaped parklands and a central podium.&nbsp;

A concierge service is also available in the adjacent Building A, servicing the needs of all residents at The Orchards.&nbsp;

Veue Parkside is located at 15-19 Spurway Drive, <a href="https://www.urban.com.au/developments/norwest-nsw-2153">Norwest</a>.

Construction by <a href="https://www.urban.com.au/builders/westbourne-constructions">Westbourne Constructions</a> has started and the first residents are expected to move in mid-2026. Close to 600 apartments have already been sold in The Orchards.

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Veue Parkside, part of the $1 billion masterplanned community, features 156 apartments spread across two nine and 14-level buildings. 

Buyer secures fourth apartments at Sekisui's The Orchards, Norwest masterplan

"I don't buy off the plan."

That's what Melbourne resident Jill Hawkins said nearly 12 months ago while contemplating a move from her home in Glen Iris.

Jill, who works for an international engineering company, has lived in cities like Sydney, Denver, and London over the past three decades, yet, she always envisioned settling down in Melbourne.

Still just in a research phase, it was casual coffee chat on a weekend with <a href="https://www.urban.com.au/project-marketer/projects-by-buxton">Projects by Buxton</a> Director Heath Thompson that decided her next move.

"The first words I said to Heath was that I wouldn't buy off the plan,"&nbsp;Jill joked as she recalled their meeting just before Christmas in 2023.

"An hour later, I was calling my friend and telling her I'd be late for our brunch."

The conversation with Heath set the wheels in motion for Jill to purchase a two-bedroom apartment in <a href="https://www.urban.com.au/new-apartments/galerie-glen-iris-1538-1540-high-street-glen-iris">GALERIE</a>, the boutique development in Glen Iris that is now a few months away from occupancy.

[smartcode_project:default project_id=112375 project_image_fid=250357]

"Heath's considered approach to understanding my lifestage, my wants and my needs, made me feel like I wasn't being sold to. It made the whole process enjoyable rather than daunting."

Since the purchase,&nbsp;Jill says she hasn't looked back.

Developer LDS Property and Projects by Buxton hosted a buyer event at Big Plans, a company that allows buyers to project their apartment onto the floor and move around furniture so they can get a life-size scale of what they're buying.

Jill had made a few changes to her floorplan, including adding a fireplace to the living room. On top of the flexibility to customise, it was the attention to detail and care from the wider team that made her&nbsp;feel part of the process.

"We were discussing our apartments and Rachael, the development manager from M2Co, came up to me and said she had looked at the fireplace request and said that it would be a nice addition to the living space. She said she wouldn't have let me add it if it impacted my liveability or the design, and I thought&nbsp;that was so nice to know you were being looked after behind the scenes."

[smartcode_project:default project_id=112375 project_image_fid=250355]

Jill is excitedly awaiting settlement and a move-in date which will be before Christmas.

"At the buyer event we got to meet all of the people I'll be calling neighbours, many of whom are downsizers. I added a dog door to the balcony, and so did my neighbour, so we're looking forward to the dogs playing together."

While reluctant to sell her previous home, Jill said she knew the change was necessary, and it gave her the opportunity to streamline her belongings.

"We collect things over the years we really don't need just to fill a house," Jill says.

"The downsize will mean less unnecessary clutter, and no maintenance of a garden, in an area that I've loved for many years.

On GALERIE as a whole, Jill says it ticked all the boxes for her.

"It’s the perfect balance of low-maintenance living and style, and I’m ready to enjoy my new space."

Jill took part in Urban's Buyer Q&amp;A series which focuses on the driving factors behind&nbsp;<a href="https://expert-insights/buying/the-top-eight-considerations-when-buying-off-the-plan" target="">buying off the plan</a>&nbsp;property in Australia

[smartcode_project_cta:default project_id=112375]

"The first words I said to Heath was that I wouldn't buy off the plan," Jill joked as she recalled their meeting just before Christmas in 2023

Why a downsizer who wouldn't buy an off the plan apartment, bought an off the plan apartment in GALERIE Glen Iris: Urban Buyer Q&A

It's fair to say that the Melbourne property market has been the most challenging property market across Australia since onset of the pandemic.

Rolling lockdowns, more than any other state capital, and up there with one of the most locked down cities in the world, put the city back several paces.

This, combined with the lifestyle shift to regional areas driven by COVID, rapid interest rate increases, and ongoing tax hikes over several years, has left many demographics—who are typically eager to buy property—in a holding pattern.

Until now.

The Allan Government has introduced two key policies that they believe will stimulate the off the plan market.

The first was the announcement that they were encouraging new apartment development <a href="https://www.urban.com.au/news/vic/50-new-train-and-tram-zone-activity-centres-to-encourage-new-apartment-development-across-melbourne">around 50 train and tram stations</a>.&nbsp;

So far 25 of the 50 have been named, with a focus on stations that benefit from the Metro Tunnel and the well-serviced Frankston,&nbsp;<a href="https://www.urban.com.au/developments/sandringham-vic" target="">Sandringham</a>, Belgrave/Lilydale and Glen Waverley Lines. The rest of the stations will be announced before the end of the year.

Read more:&nbsp;<a href="https://www.urban.com.au/news/vic/50-new-train-and-tram-zone-activity-centres-to-encourage-new-apartment-development-across-melbourne">50 new ‘train and tram zone’ activity centres to encourage new apartment development across Melbourne</a>

The biggest announcement however came earlier this week when the government abolished stamp duty for anyone buying off the plan. What's more, unlike previous policies that saw stamp duty paused, this policy applies to every buyer, at every price point, across the whole of Victoria, for exactly 12 months starting from October 21 2024 to October 21 2025.

<a href="https://www.urban.com.au/">Urban.com.au</a> CEO Mike Bird said the challenges of the market have been well documented in the last few years, but the effect of the stamp duty changes will be felt immediately

"The shackles are off and buyers are going to be able to save tens, if not hundreds of thousands, in the next 12 months," Bird says, adding that the market, both developers and buyers, have been waiting for this sort of stimulus for several years.

"The demands put on the VIC government from the sector has forced its hand to act. We're at a significant shortfall of housing across Victoria.

"Developers aren't developing, in part because a large section of buyers can't afford prices of new apartments, which have gone up due to the cost of labour and materials. The rapid increase in interest rates has pushed first home buyers and investors out of the market, while downsizers have proven slow to respond to new apartments because they have to pay the stamp duty tax and they're choosing to stay in their homes for longer.

“While this isn’t&nbsp;a silver bullet, when paired with upcoming interest rate cuts, it should have a material impact."

Bird says the next step is to apply the same policy&nbsp;in the house and land sector.

Scott Jessop, Head of Sales and Marketing at <a href="https://www.urban.com.au/developers/sunkin-property-group">Sunkin Property Group</a> who is developing <a href="https://www.urban.com.au/new-apartments/highett-common-37-graham-road-highett">Highett Common</a>, set to be the&nbsp;first Net Zero Community in Victoria, says that the upcoming changes will benefit all of Victoria, impacting anyone looking to purchase or rent a property in the future.

However, he emphasizes that this is just a small step toward restoring a normal housing supply environment. Over the past decade, various negative taxes and challenges have contributed to a significantly suppressed housing supply, which has played a major role in the current housing crisis.

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Jessop says the stamp duty will help the supply of rentals due to investors now more likely to get into the market.

"I've seen investors over nearly 20 years in the market as the fundamental backbone that brings the most affordable long-term rental properties to the market and essentially housing supply.

"For both local and foreign investors that I've previously seen, the majority of them want a return on their investment and it's these types of sales, when combined with first home buyers, downsizers, and rightsizers, allows developers to secure their pre-sales to bring a project out of the ground to deliver the supply of housing."

Jessop says despite the announcement only coming earlier this week, enquiry rates have already risen.

"People&nbsp;can see there is real value in Melbourne's off the plan apartment and townhouse market when you compare it to Brisbane, Gold Coast, Adelaide and Perth's market values over the past couple of years. We also know that fundamentally Melbourne is still a great market overall and may have struggled a bit post-COVID, however good quality real estate and a good quality city will always prevail long term and a shift in interest rates and population growth will certainly assist with this."

After great success of the first two stages, Sunkin recently released the third stage of Highett Common. The Mews Collection comprises a trio of buildings with 185 one, two and three-bedroom apartments. The Mews Collection also includes the first luxury apartments within the precinct.

Read more:&nbsp;<a href="https://www.urban.com.au/news/vic/sunkin-reveal-the-mews-collection-highett-commons-latest-release">Sunkin reveal The Mews Collection, Highett Common's latest release</a>

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Developer <a href="https://www.urban.com.au/developers/sma-projects">SMA Projects</a>&nbsp;accidentally timed the launch of their newest apartment project to perfection. It was earlier this month that they launched <a href="https://www.urban.com.au/new-apartments/the-regent-fitzroy-340-fitzroy-street-fitzroy-vic-3065">The Regent Fitzroy</a>, their new development of 64 one two and three-bedroom apartments on the site of the former Regent Theatre on Fitzroy Street. Now buyers can take full advantage of stamp duty savings across each of the configurations.

Emily Shaddick at SMA Projects said those&nbsp;spending $2.5 million on an apartment at The Regent will save well over $100,000 in stamp duty for the next 12 months.

"The savings will encourage downsizers out of their homes where previously they were looking at a hefty bill to do so," Shaddick says, adding that&nbsp;even buyers of the one-bedroom apartments at The Regent will save more than $30,000.

[smartcode_project:default project_id=24824 project_image_fid=304614]

Shaddick expects that, with no cap on the purchase price to receive a saving, downsizers will act swiftly on the savings.

"Downsizers and rightsizers now have an opportunity to secure a quality off the plan apartment with a floorplan that really suits their needs, and whilst developers are constructing the property, the purchaser has the flexibility to sell their current home in a future market when inevitably interest rates fall and the established market has responded."

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Marshall White Director, Leonard Teplin, who is working across several developments across Melbourne, particularly in the downsizer space, has seen a marked uptick in enquiry in a few short days since the announcement.

"This is a game-changer for downsizers," Teplin says.

"They can now purchase high-end apartments&nbsp;or townhouses without the hefty stamp duty, making the transition more financially appealing. I expect to see a surge in downsizer activity, especially in premium inner-city and Bayside locations. This also has a dual benefit of encouraging downsizers to transition from the family home, and therefore, making more established housing available for family buyers."

[smartcode_project:default project_id=109908 project_image_fid=221811]

Teplin believes there will be a&nbsp;significant boost in off the plan sales over the next 12 months, however, the VIC Government hitting its full-year target of delivering around 80,000 homes might still be challenging due to construction industry capacity constraints and planning approval timelines.

"If the scheme proves successful, there could be a strong case for extending it beyond the initial 12 months to maintain momentum and address long-term housing supply issues."

Noorden Projects Director Dave Lamond says he's already&nbsp;received "quite a few calls" from potential purchasers looking to make the most of the stamp duty savings they may be eligible for.

"The opportunity can certainly help the higher-end apartment buyers to make the figures work&nbsp;and developers to encourage purchasers to put pen to paper," Lamond says.

"Now is the&nbsp;hustle to get the figures through the quantity surveyors to help give people the confidence around their potential stamp duty."

[smartcode_project:default project_id=5366 project_image_fid=61084]

He says the savings have opened up an opportunity at some of the more premium developments he's marketing, like Duke in Collingwood which is under construction.

"It’ll be a busy 12 months in the luxury market."

"The shackles are off": What the abolishment of stamp duty really means for the Melbourne new apartment market

New buyers at Toorak Park, the regarded apartment development on the fringe of Toorak and Armadale by the ASX-listed developer Lendlease, have the chance to take advantage of a $25,000 rebate for a limited time.

Located just 8 km from Melbourne's CBD and adjacent to Toorak Station, <a href="https://www.urban.com.au/buildings/toorak-park-armadale-590-evergreen-mews-armadale">Toorak Park</a> spans 2.5 hectares and includes a mix of residential buildings designed in collaboration with <a href="https://www.urban.com.au/architects/denton-corker-marshall">Denton Corker Marshall</a>, <a href="https://www.urban.com.au/interior-designers/carr-interiors">Carr Design Group</a>, and <a href="https://www.urban.com.au/architects/koichi-takada-architects">Koichi Takada Architects</a>.

The extensive landscaping, designed by <a href="https://www.urban.com.au/landscape-architect/tract-landscape-architects">Tract</a>, adds to the appeal, with open spaces making up a third of the site, including a bluestone plaza, communal gardens, and leafy boulevards.

[smartcode_project:default project_id=377 project_image_fid=211689]

The availability of these completed apartments presents a unique opportunity in a market where new developments in Toorak are scarce, especially at more accessible price points.&nbsp;

Toorak Park features a selection of one to four-bedroom apartments starting from $780,000.

While Toorak has historically been dominated by family homes, with more than 60 per cent of households consisting of families, Toorak Park introduces modern, affordable options for those who have struggled to buy into the local market.

[smartcode_project:default project_id=377 project_image_fid=211685]

The apartments feature reconstituted stone and timber, European appliances, and generous balconies extending the living spaces outdoors.&nbsp;

The inclusion of car parks for every one-bedroom apartment is a rarity in the area and further enhances the development’s attractiveness for those looking for both convenience and long-term value.

[smartcode_project:default project_id=377 project_image_fid=211688]

Toorak Park offers an array of exclusive amenities including a fitness centre and an indoor swimming pool.

The architectural vision behind the development was to create a "village within a village," connecting the nearby Beatty Avenue shops and Orrong Road with newly opened access to the Toorak railway station.&nbsp;

The result is a highly connected, community-focused environment that blends seamlessly with the established character of Armadale.

[smartcode_project_cta:default project_id=377]

While Toorak has historically been dominated by family homes, with more than 60 per cent of households consisting of families, Toorak Park introduces modern, affordable options for those who have struggled to buy into the local market.

In profile: SQM Research's head of research, fixed income and alternatives, Robert da Silva

Jessie Richardson

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