The rarity of the recently completed apartment development Osprey, located in Safety Beach on the Mornington Pensinula, hasn't been lost on savvy property investors.

Around 30 per cent of enquiry on the 18 two and three-bedroom apartments have come from investors, Projects by Buxton Director Heath Thompson says.

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Investors have been particularly attracted to the rental guarantee offered by the builder-developer&nbsp;<a href="https://www.urban.com.au/developers/figurehead">Figurehead</a>. This guarantee ensures that buyers purchasing for investment purposes will receive income upon settlement, until a tenant is secured.&nbsp;

Enquiry data from Urban.com.au shows the three-bedroom apartments, priced at $1.08 million and $1,495,000, have proved the most popular.

[smartcode_project:default project_id=138447 project_image_fid=290614]

<a href="https://www.urban.com.au/buildings/osprey-safety-beach-15-martha-cove-boulevard-safety-beach">Osprey</a>&nbsp;is ideally located to draw a tenant on a good yield. It sits just 150 metres from the Martha Cove Marina as well as&nbsp;Martha’s Table, a popular local dining and retail destination.

Martha's Cove is also a growing community, which is typically indicative of future compound growth, making it appealing to investors.

[smartcode_project:default project_id=138447 project_image_fid=290733]

Osprey&nbsp;won the national award for Small Scale Development of the Year at the 2024 Urban Developer Awards. It was designed by&nbsp;<a href="https://www.urban.com.au/architects/wolveridge-architects">Wolveridge Architects</a>&nbsp;who prioritised natural light, ventilation, and a coastal aesthetic, ensuring the apartments meet the lifestyle expectations of its occupants.

A special ‘lightwell breezeway’ serves as the entrance to every home, providing cross-ventilation and security.

[smartcode_project:default project_id=138447 project_image_fid=290625]

The building sits on a prime elavated site which means there are significant views to Mount Martha and Red Hill.

The modern kitchens are well-equipped with Fisher and Paykel appliances and brushed nickel fittings.&nbsp;

[smartcode_project:default project_id=138447 project_image_fid=290744]

Thompson says while investors have shown a lot of demand for the apartments, there is a large pool of buyers who are looking at it as a 'liveable investment'.

"Osprey offers the perfect lock and leave option for those living in Melbourne who want a weekender on the Mornington Peninsula but without the maintenance," Thompson says.

"These types of buyers might not use it all the time, and will explore holiday letting opportunities when it's not in use."

The most active buyers so far have been those who have a close relationship with the Mornington Peninsula.

"Local downsizers who either live in the immediate area, or those who have large landholdings in some more remote areas of the Mornington Peninsula who want to be closer to the water, have been the most active buyers so far, Thompson says.

[smartcode_project_cta:default project_id=138447]

Thompson says while investors have shown a lot of demand for the apartments, there is a large pool of buyers who are looking at it as a 'liveable investment'.

Joel Robinson

Investors signal market comeback at Osprey Safety Beach apartments

It was just last month that construction materials provider Hanson Australia rebranded to&nbsp;Heidelberg Materials Australia, in line with a global rebrand of the company.

A few weeks later, Heidelberg has submitted plans for a landmark riverside community in South Brisbane.

Heidelberg Materials Australia has had global design firm fjcstudio draw up plans for the 1.3-hectare precinct that will comprise three 50-level residential buildings with 620 apartments, a food and beverage plaza, and a 5,400 sqm public park.

<img alt="Brisbane" data-entity-type="file" data-entity-uuid="665cbb01-1e81-4803-840d-c99d27240107" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-12-23%20at%202.29.00%E2%80%AFPM.png?VersionId=BqRWokUw5YXxlNR4uh6UKutIWLXlJn3a" />

Fjcstudio says the eastern and southern towers respond to the Brisbane landscape with a subtle earthy tone facade, while the western tower, providing more premium views, features a largely glazed facade and white cladding.

Of the 620 apartments, only 15 per cent (96) will be one-beds. 122 two-bedroom apartments have been pitched, while 372 of the apartments, 60 per cent, will have three or more bedrooms.

The documents submitted to the Brisbane City Council suggest the&nbsp;prestigious development at the intersection of Nott Street and Hoskings Street "celebrates the area’s rich industrial heritage, seamlessly blending it with the vibrancy of an emerging inner-city lifestyle and the allure of a subtropical climate."

<img alt="Brisbane" data-entity-type="file" data-entity-uuid="ea9c0d51-619e-421b-aa35-4b565a3930b2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-12-23%20at%202.25.37%E2%80%AFPM.png?VersionId=0f55SIn5elGITBU_SBmUsc1mTG0.bZ1w" />

Conversations about the development have been ongoing for 12 months prior to the recent submission. They focused on the&nbsp;riverfront parkland proposed dedication, proposed embellishments associated with the proposed park, parking location, and the built form of the tower, including setbacks and separation between the towers.

Each tower will have a rooftop communal level with outdoor terraces and alfresco spaces, as well as another level further down the building with a swimming pool and other facilities.

Urbis said in the town planning report that South Brisbane, and specifically the Kurilpa Precinct, is undergoing significant change in response to Brisbane’s demand for housing supply, affordability, and diversity in the inner-city areas.

"The current external circumstances have resulted in changes in policy including the adoption of the recently gazetted Kurilpa Temporary Local Planning Instrument (TLPI) Amendment No 1, which provides for greater density, building height and reduced car parking requirements where design and sustainability benchmarks can be delivered.

"The proposal comprises of an integrated, subtropical, high-density mixed-use development, which capitalises on the site’s location within the Kurilpa TLPI."

<img alt="Brisbane" data-entity-type="file" data-entity-uuid="5646ca90-3f9c-439a-8724-51879f31e569" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-12-23%20at%202.26.01%E2%80%AFPM.png?VersionId=PjllO59Mho0BU9OcxMbYerQ7L3OHr8PQ" />

Urbis said the proposal "goes above and beyond the usual offering for a residential building with a level of community and public benefit that is unprecedented for a development of this scale in Brisbane."

"This level of community and public benefit are made possible through the additional density allowed for by the TLPI and is more than justified through its suburban, precinct and site-level context. This unique offering of a high-quality, high-density residential product will become an important landmark in South Brisbane and will set the benchmark for development in the region moving forward."

Currently on the site are industrial and warehouse buildings which have been owned and operated by Hanson.

Urbis said the proposal "goes above and beyond the usual offering for a residential building with a level of community and public benefit that is unprecedented for a development of this scale in Brisbane."

Multi-tower precinct planned for South Brisbane riverfront

<a href="https://www.urban.com.au/builders/morris-property-group">Morris Property Group</a>, one of the biggest single contributors to the Broadbeach apartment market, is back at it again.

They've just launched Maison Broadbeach, their 10th development in the <a href="https://www.urban.com.au/developments/broadbeach-qld-4218">booming suburb</a> since their first apartment building, Verve, nearly two decades ago.

<a href="https://www.urban.com.au/new-apartments/maison-broadbeach-22-chelsea-avenue-broadbeach">Maison&nbsp;Broadbeach</a> will home just 21 full-floor apartments across a 22-level building at 22 Chelsea Avenue, a street Morris know well. One of their many completed projects, Opus, is just a few doors down.

They each have three bedrooms, a kitchen with a central island bench, and an open plan living and dining area which extend to a private balcony with northern views towards Broadbeach Park.

Buyers will have the choice of two colour schemes, Lumiere and Noir, while each apartment will have appliances by either Siemens or Bosch, a vintec wine bar fridge, and a herringbone lay pattern flooring in the kitchen, living and dining area.

There will be a dedicated resident's lounge, a gym with a sauna, a covered barbecue pavilion, and a rooftop pool with a large dec area.

[smartcode_project:default project_id=113008 project_image_fid=318651]

Maison was designed by Burling Brown, a Queensland-based firm that has incorporated angular edges and a contemporary colour scheme into the tower's design.&nbsp;

The slender tower footprint ensures minimal visual impact from the north, while the use of natural materials complements Broadbeach’s coastal aesthetic

[smartcode_project:default project_id=113008 project_image_fid=318656]

Morris' inhouse construction arm will deliver Maison Broadbeach, with completion slated for 2027.

Maison follows <a href="https://www.urban.com.au/new-apartments/malo-broadbeach-8-jubilee-avenue-broadbeach-qld-4218">Malo&nbsp;Broadbeach</a>, a similar tower with half-floor apartments which Morris completed recently.

Morris is also developing <a href="https://www.urban.com.au/new-apartments/crest-broadbeach-13-armrick-avenue-broadbeach">Crest Broadbeach</a>, two towers nearby on Armrick Avenue. They will launch the second tower in the new year.

[smartcode_project_cta:default project_id=113008]

Maison follows Malo Broadbeach, a similar tower with half-floor apartments which Morris completed recently

First look: Morris Property Group reveals 10th Broadbeach apartment development, Maison Broadbeach

CDG Group’s landmark Melbourne apartment development, Victoriana, has captured the attention of first home buyers.

According to data from MatterFact, the new data product by Urban.com.au, first home buyers have consistently been the most engaged buyer group, surpassing downsizers and rightsizers in enquiries over the past six months.

Feedback from buyers highlights the quality of the finishes and the development’s prime location as its key attractions.&nbsp;

[smartcode_project:default project_id=1979 project_image_fid=78690]

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a> and completed in 2021, <a href="https://www.urban.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne">Victoriana</a> features cascading terraces and vertical gardens which are designed to harmonise with the surrounding Albert Park Lake and Fawkner Park.

Located on Queens Road, between the two famous parks and just off St Kilda Road, Victoriana comprises 250 one, two, three and four-bedroom apartments across 16 levels.

First home buyers have shown the greatest interest in the two-bedroom apartments, which start at over 70 sqm and feature two bathrooms, a balcony off the open-plan kitchen, living, and dining area, and a master bedroom with an ensuite.

[smartcode_project:default project_id=1979 project_image_fid=300488]

Victoriana also includes an extensive range of amenities that rival those of a luxury hotel.&nbsp;Residents will have access to concierge services, a heated indoor pool, steam room, sauna, state-of-the-art gym, and a lounge and garden terrace with views of the&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3004">Melbourne</a>&nbsp;skyline.&nbsp;

[smartcode_project:default project_id=1979 project_image_fid=78667]

Positioned on the fringe of Melbourne's CBD, Victoriana provides direct access to Albert Park Lake and proximity to St Kilda Road trams and the upcoming Anzac Railway Station.&nbsp;

This combination allows residents to enjoy both vibrant city living and tranquil parkland surroundings, a rare offering for buyers entering the property market.

Nearby attractions include South Melbourne Market, the Royal Botanic Gardens, and Melbourne's vibrant arts precinct.

Qualifying buyers of the two-bedroom apartments won't have to pay a deposit, and could save with a lower interest rate and reduced LMI.

[smartcode_project_cta:default project_id=1979]

Qualifying buyers of the two-bedroom apartments won't have to pay a deposit, and could save with a lower interest rate and reduced LMI

First home buyers jump at Victoriana apartments on Melbourne's Albert Park

<a href="https://www.urban.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>&nbsp;has been granted development approval for Dawn, its fifth stage in its new urban renewal project in Melrose Park.

It will be the first stage which is a joint venture, with&nbsp;Hankyu Hanshin Properties becoming part of the development.

Dawn will&nbsp;comprise six low-rise buildings ranging from six to 10 levels, built around a large central courtyard spanning almost two hectares. It will include 368 one, two and three-bedroom apartments.

Positioned less than 150 metres from <a href="https://www.urban.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> Town Centre, Dawn promotes walkability and maximises direct access to green spaces, lifestyle assets and future transport connections, including the Parramatta Light Rail Stage 2.

Melrose Park Town Centre is set to open at the end of 2026, aligning with when residents of Dawn will begin moving in to provide immediate access to essential services and amenities.

<img alt="Dawn, Stage 5 in Melrose Park" data-entity-type="file" data-entity-uuid="d2ac6e67-74e9-497a-a6c4-a06c560c9ed8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/compressed%20SEKISUI_MELROSE%20PARK_VIEW01_FINAL_REV03.jpg?VersionId=M0PX1Lnej70Wanlhr0G1NBoDIUbfkXoj" />

Alex Grujovski, Project Director, Apartment &amp; Mixed-Use Developments, Sekisui House Australia, said Dawn is&nbsp;a high-quality development that sets the tone for future stages of Melrose Park and reflects Sekisui House’s philosophies of sustainability, community and thoughtful design."

"Dawn represents our unwavering commitment to creating communities that coexist harmoniously with nature, while fostering interactions between people and place,"&nbsp;Grujovski says.

Designed by <a href="https://www.urban.com.au/architects/group-gsa">GroupGSA</a>, Dawn will integrate with its surroundings, featuring precinct views of Central Park and the Western Parklands. It will have secluded rooftop amenities, an internal central courtyard garden, shading devices and link bridges.

Alister Eden, Principal, GroupGSA said Dawn is designed with timeless elegance, sustainability and functionality at its core.

"The materials and layout create a seamless connection between urban living and the surrounding natural environment, offering residents a lifestyle that balances modern convenience with green tranquillity. The architectural design features intricately detailed brickwork at its base, creating a strong visual foundation that reflects the character and domestic qualities of the nearby residential suburbs of Melrose Park and Ermington," Eden says.

“Communal open spaces will offer a diverse range of amenity, from quiet areas for contemplation to open lawns for enjoying the winter sun or safe play spaces for young children. Elevated areas also provide unique perspectives and scenic views of district parks."

<img alt="Dawn, Stage 5 in Melrose Park" data-entity-type="file" data-entity-uuid="689edf1d-8f01-4365-b2ab-c7d8930c309e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/MP%20-%20Courtyard%20BBQ%20Wide%20-%20Rev%20B-min.jpg?VersionId=kuq96WjaRGXLVG7Nrnjboz2_csD66piP" />

Pitched as one of the best inclusions in the fifth stage is Central Park which will feature&nbsp;open spaces, BBQ and picnic areas, children’s play facilities and kilometres of walking tracks. Complimenting these are rooftop community facilities including BBQ areas, seating nooks and relaxation zones, encouraging interactions and a connected community.

Dawn incorporates a range of sustainability initiatives. A dedicated energy network enhances energy efficiency, while rooftop gardens provide green spaces for residents. The masterplan will also see 1,500 mature drought-tolerant native trees planted, along with permanent wetlands to boost biodiversity and rain gardens for on-site water treatment.&nbsp;

App-based energy management systems will be implemented, enabling resource efficiency and sustainable living. The project’s construction will prioritise environmental stewardship, with strategies to reuse excavated materials, capture water for irrigation and minimise reliance on external natural resources.

Construction of Dawn will commence in 2025, with completion anticipated in mid-2027.

Sekisui’s $5 billion Melrose Park project is set to transform into a thriving new community upon completion, significantly enhancing the housing supply in the north-west of Sydney with 5,500 homes, a commercial and retail town centre and extensive parklands.&nbsp;

Sekisui’s $5 billion Melrose Park project is set to transform into a thriving new community upon completion, significantly enhancing the housing supply in the north-west of Sydney with 5,500 homes

Sekisui House Australia approved for Dawn, the latest stage at $5 billion Melrose Park masterplan

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Urban Editorial

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

A number of people ask - what is the settlement process when buying off the plan property?

The simple answer is that the process is one part of the off the plan buying journey that isn't too dissimilar to buying in the established market.

The major difference is the time from exchange to settlement, given the off the plan property isn't built yet. The standard settlement for established property is around six to eight weeks.

This however has a number of pros for off the plan buyers.

One of the biggest is that the price paid for the property at the time of exchange doesn't change. Even if the value of the apartment has risen during construction, buyers will still settle on their apartments at the same price agreed.

The settlement date will be forecasted in the contract, as to when the developer believes the building will be complete, and the certificate of occupancy is obtained. Then settlement can start to occur and buyers can move in.

The settlement date forecast is another pro for buyers. While this date can chop and change due to a number of reasons, least of all delays in construction, labour, and materials, it gives the buyer a ballpark future date where they need to have their finances in shape to settle.

By paying a deposit you lock in that price, and you might not be required to pay the rest of the deposit for two or three years, if the construction timeline is that far away. This allows buyers years to save up the rest of the money while their yet-to-be-built property potential grows in value.

The settlement date estimate also puts a time limit on buyers as to when they should either vacate their current rental, or put the wheels in motion to sell their current home.

If you're thinking of purchasing an off the plan apartment, it's a good idea to speak to a conveyancer or solicitor who can advise you on the settlement process and help ensure that everything goes smoothly.

A number of people ask - what is the settlement process when buying off the plan property?

Off the plan property settlement - how does it work?

Arguably floor plans matter more in off the plan property than any other type of property.

In established markets, the floorplan is the floor plan. That's it, barring renovations.

But in the off the plan market, there a number of factors to consider when analyzing floor plans, and a number of questions to ask agents and developers when discussing buying an off the plan property.

First there's the floor plan size.

Floor plan sizes advertised by agents or developers can differ hugely state by state, so it's important to understand whether you are being pitched a property's internal size, or total size.

Internal size is the measurement of the internal floor area of an apartment, and is typically measured in square metres (m²). External size is the measurement of the external dimensions of an apartment, be it a courtyard or a balcony, but sometimes it can include a parking space or storage cage.

Generally, off the plan apartments are advertised with their internal size, as this is the size that you will have to work with when furnishing and decorating your new home. It's important to be aware of external size, however, as this will give you an indication of the overall size of the building and how much outdoor space you will have access to.

When considering internal vs external size, it's important to keep in mind that internal size may vary slightly from the advertised size due to the internal walls of the apartment. External size, on the other hand, is usually accurate to the advertised size as it's based on the overall dimensions of the building.

Another thing to consider when analyzing floor plans in off the plan property is that floor plans aren't necessarily set.

The majority of developers, providing construction is still at its early stages, will allow buyers to customize their floor plan to suit their lifestyle.

It might be that you want to move a bedroom or bathroom, or re-orientate the living area. This generally isn't a problem for developers as long as the moving of internal walls doesn't impact the building structurally, and the redesign all occurs within the same floor plate size of the original apartment.

In the off the plan market, there a number of factors to consider when analyzing floor plans, and a number of questions to ask agents and developers

How to read a floor plan, what questions to ask, and why it's important for off the plan property buyers

Following the success of Archibald by ALAND, developer <a href="https://www.urban.com.au/developers/aland">ALAND</a>&nbsp;has unveiled its latest Gosford project.

Amalfi by ALAND – a mixed-use project with 506 apartments and 9,530 sqm of retail space will rise from 50-70 Mann Street, formerly the home of&nbsp;Frogys roller-skating. Frogys was demolished in 2017, and the site has been vacant since that time.

ALAND plans to bring a vibrant Mediterranean-style development to <a href="https://www.urban.com.au/developments/gosford-nsw-2250">Gosford</a> CBD with Amalfi by ALAND – a cluster of three oval-shaped glass towers that will feature a mixture of one, two and three-bedroom apartments, plus an exclusive collection of four-bedroom ‘Sky Homes’.

The residential component of Amalfi By ALAND will sit atop a commercial podium that will contain a supermarket, a café and a destination restaurant. Each of the towers will feature a residents-only rooftop swimming pool.

ALAND CEO George Tadrosse says that Amalfi by ALAND builds on the success at Archibald By ALAND, a major residential, hospitality and lifestyle development nearing completion on nearby Donnison Street. Nearly all of the 327 apartments at Archibald by ALAND are sold.

“The response to our Archibald development from the Gosford community has been quite overwhelming,” Tadrosse said.

“Demand for the apartments was so strong that many people missed out, so those buyers now have a further opportunity to secure a high-quality brand-new ALAND apartment just around the corner.”

[smartcode_project:default project_id=134670 project_image_fid=215487]

Tadrosse says that Amalfi By ALAND underscores ALAND’s ongoing commitment to Gosford, an attractive, well-located regional city that is poised for significant economic growth over the next few years.

“We’ve already demonstrated our strong belief in Gosford and the Central Coast by completing the iconic Archibald precinct, which contains 327 apartments, six hospitality venues and 130 voco® hotel rooms.

“Amalfi By ALAND is the next chapter in the story of Gosford’s transformation, offering superior open-plan apartments and a number of special features such as glass-screened balconies and rooftop swimming pools.”

Today’s announcement was welcomed by the Member for Gosford, Liesl Tesch MP, who says that Amalfi by ALAND will help reinforce Gosford’s reputation as the “vibrant and thriving” capital of the Central Coast.

“Thank you to ALAND, who are so committed to investing in Gosford’s future,” she said. “The future of Gosford is being built today, and I cannot wait to see what ALAND’s Amalfi project has in store.”

Gosford is earmarked for significant public and private investment over the next decade, with several major projects recently completed, such as the $348 million Gosford Hospital redevelopment, and several new ones, including the $63.8 million University of Newcastle Gosford Campus, in the pipeline.

By 2041 the population of the Central Coast is expected to grow by 100,000, while the local economy will generate 55,000 new jobs over the same period.

First look: ALAND reveals latest Gosford mixed-use development, Amalfi by ALAND

National property developer&nbsp;<a href="https://www.urban.com.au/developers/stockland">Stockland</a> is back in the new apartment market.

The development, who has focused predominantly on house and land and masterplanned communities in recent years, has announced a return to the high-density, apartment and mixed-use market.

It will soon launch Stanton Place in <a href="https://www.urban.com.au/developments/rosebery-nsw-2018">Rosebery</a>, 144 one, two and three-bedroom apartments, terraces and skyhomes across three buildings on Dunning Avenue. It will have&nbsp;a central landscaped courtyard with BBQ facilities, as well as multi-purpose facilities for residents, a café space and public art installation along a curated laneway experience.

<img alt="Stockland" data-entity-type="file" data-entity-uuid="19819fc2-c576-4ba9-b8da-88460063c632" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-12-18%20at%208.19.38%E2%80%AFPM.png?VersionId=32oqUVdaOLz3Kx_.w.5i20NrSZ3HxfnV" />

Stockland Executive General Manager, Apartments, Ben Christie, said Stockland’s expertise and experience in creating connected communities meant it was well positioned to reimagine the concept of the urban neighbourhood.

“Urban renewal is about the evolution of our cities, and our apartments vision is to create the next generation of urban living, where design combined with curated community improves quality of life," Christie said.

"Given people remain at the heart of our cities we need to deliver vibrant and liveable urban communities that foster the connection between people and place. Diversity is key to cultivating vibrancy in urban precincts. Expert city building fosters greater diversity and provides choice, opportunity and accessibility to all members of the community."

<img alt="Stanton Place, Rosebery" data-entity-type="file" data-entity-uuid="b36411e1-cd8c-4ba0-93ca-653d5c45e9a9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/DunningAve_INT11_B103%20Living_FinalPreview.jpg?VersionId=wMSoY1tdzDKRc_LJcSsi2d1zI_kRqBD5" />

Christie says their&nbsp;apartment-led, mixed-use projects will provide large-scale quality housing in preferred locations, accessible to jobs, transport, education, amenities and services, giving individuals and families the opportunity to thrive.

Christie said the medium-term outlook for the apartment market was positive, underpinned by strong fundamentals.

“We expect the apartment sector to be the beneficiary of tailwinds in replacement cost pressure, a compelling house to apartment price premium, and a material undersupply of apartments over the medium term, underpinning our intention to target pipeline growth in major urban centres."

Stockland gets back into the new apartment market

First home buyers in Victoria and Queensland are increasingly willing to stretch their budgets, surpassing spending trends seen in New South Wales.

While affordability remains a key consideration, data from November and December reveals a growing willingness among first-time buyers in these states to invest more in their first property.

In contrast, in New South Wales, where <a href="https://www.urban.com.au/developments/sydney-nsw">Sydney</a> is consistently ranked among the least affordable cities globally, first home buyers are primarily focused on apartments priced between $600,000 and $1 million.

<a href="https://www.urban.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, above the Crows Nest Metro station, has attracted significant demand for its one-bedroom apartments that are priced just under $970,000, while the completed apartments in <a href="https://www.urban.com.au/buildings/the-grand-residences-eastlakes-16-evans-avenue-eastlakes">The Grand</a> Eastlakes offer an attractive entry at $745,000.

[smartcode_project:default project_id=7652 project_image_fid=291042]

First home buyers in Queensland, mainly Brisbane and the Gold Coast, are increasingly willing to spend over $1 million, particularly for larger homes or apartments in sought-after suburbs.

A prime example is <a href="https://www.urban.com.au/new-townhouses/citrine-townhomes-rochedale-311-gardner-road-rochedale">Citrine</a>&nbsp;in <a href="https://www.urban.com.au/developments/rochedale-qld-4123">Rochedale</a>, where buyers can secure three or four-bedroom townhouses priced between $1 million and $1.5 million.

[smartcode_project:default project_id=136295 project_image_fid=273135]

In the hot Gold Coast new apartment market, buyers are also willing to exceed the $1 million mark, as seen at <a href="https://www.urban.com.au/new-apartments/flourish-on-sixth-ave-palm-beach-6-12-sixth-avenue-palm-beach-qld-4221">Flourish on Sixth</a>, the newly released development by Sherpa in Palm Beach.

This development offers some of the most affordable apartments the area has seen in years.

One-bedroom apartments initially listed under $600,000 sold quickly, while two-bedroom units, previously priced in the mid-$800,000s, are now listed just above $1 million — still offering incredible value in one of the Gold Coast's most desirable suburbs.

[smartcode_project:default project_id=146527 project_image_fid=306036]

In Victoria, while entry-level apartments remain more affordable compared to Queensland and New South Wales, first-home buyers are still opting to spend more for better properties.

The most popular price range for first-time buyers in Victoria is $400,000 to $1 million, but, similar to Queensland, many are willing to stretch their budgets for more desirable options.

<a href="https://www.urban.com.au/new-townhouses/kindred-mentone-25-brindisi-street-mentone">Kindred Mentone</a>, with its architecturally striking townhouses south of Bayside, has been a standout choice for many first home buyers in this price range.

[smartcode_project:default project_id=138768 project_image_fid=214857]

Another popular project in recent months is New Johnston in <a href="https://www.urban.com.au/developments/abbotsford-vic-3067">Abbotsford</a>, which offers a range of apartments in the $400,000 to $1 million bracket.

Located at 398-400 Johnston Street, near Victoria Park Station, this development consists of 58 one, two, and three-bedroom apartments across nine levels, with ground-floor retail spaces.

[smartcode_project:default project_id=110322 project_image_fid=259899]

<a href="https://www.urban.com.au/new-apartments/new-johnston-abbotsford-400-johnston-street-abbotsford-vic-3067">New Johnston</a>, currently under construction by Valeo Constructions, is expected to be completed by late 2025.

First home buyers prepared to spend more in VIC, QLD, than in NSW

Downsizers and rightsizers have dominated the new and off the plan apartment market in 2024.

The two camps, downsizers in particular, are the least impacted by the continued high interest rates compared to a first home buyer or investor, positioning them as a key target for developers. Most of the new apartment developments that have come to the market in 2024 have been large apartments that suit the size and budgets of a downsizer.

Many downsizers have built significant equity in their family homes over the years and are now looking to move into more manageable living spaces, while also securing funds for retirement.

But where are downsizers and rightsizers looking to buy?&nbsp;

In this article, we've looked at the most popular suburbs in Sydney for both buyer demographics, highlighting some of the most popular developments in those areas.

<h2>Crows Nest</h2>

<a href="https://www.urban.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> has attracted a wide range of apartment buyers over the past three months, especially following the launch of two of Sydney's most in-demand developments near, and above, the newly opened Metro station.

Apartments in <a href="https://www.urban.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, the apartment development by&nbsp;<a href="https://www.urban.com.au/developers/thirdi-group">Third.i</a>&nbsp;and joint venture partner Phoenix Property Investors above the Crows Nest Metro Station, have been snapped up since they hit the market.

[smartcode_project:default project_id=142550 project_image_fid=309371]

Designed by <a href="https://www.urban.com.au/architects/woods-bagot">Woods Bagot</a>, Elevate will comprise 130 one, two and three and four-bedroom apartments, the larger apartments proving popular with the next home buyer demographic given the connectivity to the city and the growing lifestyle on offer locally.

<a href="https://www.urban.com.au/developers/twt-property-group">TWT Property Group</a>&nbsp;also has recently revealed&nbsp;<a href="https://www.urban.com.au/new-apartments/the-collective-crows-nest-23-35-atchison-st-crows-nest">The Collective</a>&nbsp;nearby, on the fringe of Crows Nest village and a short walk from the metro.

[smartcode_project:default project_id=94318 project_image_fid=293324]

Locals have driven the sales in the first building of what will be a multi-stage precinct with extensive retail and hospitality spaces.

<h2>Newcastle West</h2>

<a href="https://www.urban.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a> has grown in stature over the last few years, particularly with those who live in the wider Newcastle region who want to downsize to a brand new apartment closer to the city.

The most recent demand from downsizers and rightsizers has been toward the recently launched&nbsp;<a href="https://www.urban.com.au/new-apartments/era-newcastle-124-126-bull-street-newcastle-west-nsw-2302">ERA by GWH</a>, designed by FK Australia for the owner-occupier.

[smartcode_project:default project_id=135096 project_image_fid=309968]

The apartments, wrapped in glass to bring in as much natural light as possible, include premium fixtures and finishes, kitchen islands to offer another entertaining option in the kitchen, and large balconies.

There will be over 2,000 sqm of communal space across the two buildings, connected by a&nbsp;podium will feature a large outdoor pool, gym, fitness studio, and sauna, as well as several barbecue and dining areas.

[smartcode_project:default project_id=135096 project_image_fid=309976]

Each building will have a rooftop garden with panoramic views.

<h2>Castle Hill</h2>

After decades of limited supply for downsizers apartment from smaller family homes, Castle Hill is starting to see a new tranche of apartments that are being snapped up by downsizers.

&nbsp;

Developer <a href="https://www.urban.com.au/developers/cpdm">CPDM</a>&nbsp;has targeted the rightsizer, downsizer demographic at <a href="https://www.urban.com.au/new-townhouses/larool-crescent-castle-hill-2-22-larool-crescent-castle-hill-nsw-2154">Larool Crescent</a>, one of the only new developments to launch in Castle Hill in 2024.

[smartcode_project:default project_id=135330 project_image_fid=289121]

They have large apartments, skyhomes with rooftop terraces, and low-maintenace townhouses with internal lifts, that cater for the two buyer types.

The five low-rise buildings, a rarity in Castle Hill, have been designed around a central courtyard, bringing nature through landscaping into the apartments.

[smartcode_project:default project_id=135330 project_image_fid=308975]

Larool Crescent is also the only off the plan apartment development to have Latent Defects Insurance, the sought-after insurance policy that protects buyers against any structural defects for 10 years post completion of the building.

&nbsp;

<h2>Norwest</h2>

<a href="https://www.urban.com.au/developments/norwest-nsw-2153">Norwest</a> was only established as a suburb in 2018 of the Hills District. It's another that's been popular with those who have lived in the Hills and don't want to leave the region to downsize.

<a href="https://www.urban.com.au/developers/sekisui-house-australia">Sekisui House&nbsp;Australia</a>&nbsp;have been one of the most prominent developers in Norwest since securing an 8.1-hectare site back in 2016 when the land was classed as being in Baulkham Hills.

Since then they've been developing their large masterplan, The Orchards, near Norwest Metro Station.

[smartcode_project:default project_id=145924 project_image_fid=287366]

Downsizers have been the most prominent buyer type at the latest stages, Veue.

Veue, the fourth stage of The Orchards, offers 577 apartments,&nbsp;nearly half of the total apartments that will make up the masterplan.

<a href="https://www.urban.com.au/new-apartments/the-orchards-veue-parkside-norwest-15-19-spurway-drive-norwest-nsw-2153">Veue Parkside</a>, the most recent release, will comprise 156 apartments across two buildings.

[smartcode_project:default project_id=145924 project_image_fid=287364]

Sekisui will be continuing to cater for downsizers in its penultimate stage, 209 apartments across two 12 and nine-level buildings designed by Rothelowman. A third building will home communal amenity.

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/first-look-exclusive-sekisui-reveal-final-stage-of-1-billion-norwest-masterplan-the-orchards">First look exclusive: Sekisui reveal final stage of $1 billion Norwest masterplan, The Orchards</a>

<h2>Box Hill</h2>

Box Hill is another suburb which in recent years hasn't really had enough options for downsizers.

That's why local developer&nbsp;Kellarney Developments focused its new apartment development,&nbsp;<a href="https://www.urban.com.au/new-apartments/killarney-ponds-box-hill-4-alan-street-box-hill">Killarney Ponds</a>, around the rightsizer and downsizer.

Located just outside the emerging Box Hill Town Centre, Killarney Ponds will have 93 two and three-bedroom apartments that will complete in early 2025.

[smartcode_project:default project_id=22636 project_image_fid=297513]

The three-bedroom apartments offer 115 sqm of internal living space and a priced under $1 million.

Comparable Box Hill apartment developments also don't offer the same level of amenity as Killarney Ponds, which will offer a multi-purpose room, a fully-equipped gym, a&nbsp;work-from-home centre with integrated desks and meeting rooms, as well as several outdoor spaces with alfresco and picnic areas.

In this article, we've looked at the most popular suburbs in Sydney for both buyer demographics, highlighting some of the most popular developments in those areas

The most popular Sydney suburbs for downsizers and rightsizers in 2024

In this article, we explore where, what, and who is driving the most exciting new developments coming to Sydney in 2025.

Sydney's top new apartment developments launching in 2025

Tech billionaire Robin Khuda’s <a href="https://www.urban.com.au/developers/ondas">Ondas</a> has received final approval for its long-awaited development in Sydney's millionaire's playground.

It's taken over three years for the six luxury apartments by <a href="https://www.urban.com.au/architects/rob-mills-architecture-interiors">Rob Mills Architecture</a> to be approved, on the Barrenjoey Road site of the former Palm Beach Fish &amp; Chips Shop.

The apartments will sit above three ground-floor retail spaces, next door to Barrenjoey House.

The approval follows years of revisions and challenges, including community opposition over concerns about height, bulk, and potential impacts on the area’s character.&nbsp;

Initial plans submitted in 2021 faced multiple setbacks, including rejection by the Northern Beaches Local Planning Panel and requests for significant design modifications to address community and planning concerns.&nbsp;

Despite these obstacles, the amended proposal has now been deemed a valuable addition to the Palm Beach locality.

Acting Commissioner Thorpe praised the project’s design, stating that it would “provide much-needed amenity, commercial business, and housing” while being “respectful of the adjacent heritage item.”&nbsp;

The site neighbours the historic Barrenjoey House, and its redevelopment is anticipated to enhance the area’s seaside atmosphere while maintaining its distinctive charm.

This project aligns with Khuda’s broader real estate ambitions under the Ondas banner, which focuses on high-end residential developments targeting affluent downsizers.&nbsp;

Ondas has recently completed six apartments in Manly, and they have a <a href="https://www.urban.com.au/news/vic/robin-khudas-ondas-gets-greenlight-for-22-million-st-kilda-apartment-development">project in St Kilda in Melbourne</a> which is expected to launch in 2025.

Billionaire Robin Khuda's Ondas secures Palm Beach apartments development approved

Despite an interest rate cut not materializing in 2024 as many had anticipated at the start of the year, first home buyers appear content to enter the Sydney off the plan apartment market, somewhat reassured that rates are unlikely to rise in the short to medium term.

Data collected by MatterFact showed that first home buyers made up over 60 percent of enquiries in 2024 across New South Wales on Urban.com.au, driven by more affordable stock coming to market outside the city, particularly in and around suburbs along the recently opened Metro line.

Speaking with first home buyers across Sydney in 2024, the main driver of their purchase is the ability to afford the deposit, having saved up while living at home. However, many feel they are not yet ready to take on a mortgage. They are looking to enter the property market but aren't prepared to begin repayments just yet, so they're opting to buy into new developments at the earliest possible stage, knowing that the construction period will likely be at least two years, by which time they will be better positioned to begin repayments.

In this article, we explore the most popular suburbs in Sydney for first home buyers in 2024, highlighting some of the most sought-after developments in these areas.

<h2>Castle Hill</h2>

<a href="https://www.urban.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>&nbsp;has been one of the most popular suburbs for several years in the off the plan space.

Previously starved of new supply, the $1 billion Hills Showground precinct opening up to development sparked a frenzy of developers wanting to add to the new apartment pipeline.

The large developments that have come in recent years have catered for all markets, offering one-bedroom apartments, tailor-made for first home buyers and investors, through to larger apartments for downsizers.

Adding to the appeal for first home buyers is the newly opened Metro which connects to the centre of Sydney in around 30 minutes. That's now making Castle Hill a viable living option for those who need to work in the city, where prices for new apartments are considerably more expensive.

Tapping into first home buyer demand is <a href="https://www.urban.com.au/new-townhouses/larool-crescent-castle-hill-2-22-larool-crescent-castle-hill-nsw-2154">Larool Crescent</a>, one of the only developments to launch in Castle Hill in 2024 while others complete.

[smartcode_project:default project_id=135330 project_image_fid=289121]

First home buyers have jumped at the opportunity to buy a one-bedroom apartment at $650,000, several of which have been snapped up. The two-beds currently come in at just over $900,000, which is generally a price of a one-bedroom apartment in the Sydney inner-ring.

The low-rise project is made up of five architecturally designed buildings around a central courtyard near Castle Towers, one of Sydney's largest shopping centres.

[smartcode_project:default project_id=135330 project_image_fid=289164]

Larool Crescent is one of few developments in Castle Hill which is covered by Resilience Insurance's Latent Defects Insurance, a policy which protects buyers from any structural defects of the building for 10 years post-completion.

Larool Crescent is slated for completion in mid-2026.&nbsp;

<h2>Crows Nest&nbsp;</h2>

Another suburb to benefit from the metro boom is <a href="https://www.urban.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>.

Previously relying on heading to the neighbouring St Leonards for a train, Crows Nest is now just minutes from the centre of Sydney on the metro, which is drawing first home buyers.

One of the most popular projects for the year, and it only launched a few months ago, is <a href="https://www.urban.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, the apartment development being delivered literally above the Crows Nest Metro Station.

[smartcode_project:default project_id=142550 project_image_fid=309367]

Third.i, and joint venture partner Phoenix Property Investors, have seen a great response to the 130 one, two and three-bedroom apartments that have been designed by Woods Bagot.

One-bedroom apartments, which are under $1 million, are being seen as a great investment given the rarity of a TOD (Transit Oriented Development) so close to the city, one which isn't easily repeatable.

[smartcode_project:default project_id=142550 project_image_fid=309368]

Not just first home buyers, but any buyer at Elevate can buy an apartment with just a $10,000 deposit, rather than the standard 10 per cent.

<h2>St Leonards</h2>

St Leonards is another benefitting from the spill over from Crows Nest.&nbsp;

Those projects that are in St Leonards, but bordering Crows Nest, are particularly attractive, like <a href="https://www.urban.com.au/developers/twt-property-group">TWT Property Group</a>'s recently released first stage of The Collective.

[smartcode_project:default project_id=94318 project_image_fid=293323]

One-bedrooms at $935,000 are the most attractive proposition for first home buyers. Belle Property, the agency in charge of the sales, has said most of the apartments sold so far have been grabbed by locals.

<h2>Merrylands</h2>

Builder-developer <a href="https://www.urban.com.au/developers/coronation-property">Coronation Property</a> targeted <a href="https://www.urban.com.au/developments/merrylands-nsw-2160">Merrylands</a>&nbsp;in Sydney's west,&nbsp;as an area where they could lift the supply of affordable housing

Rapidly gentrifying, Merrylands offers connectivity to Sydney and lifestyle at the doorstep, two factors high on a first home buyers wishlist.

Coronation's project,&nbsp;<a href="https://www.urban.com.au/new-apartments/mason-main-merrylands-249-259-merrylands-road-merrylands">Mason &amp; Main</a>, is a rare new development with studios, an apartment configuration barely ever seen in the new market. They start at $520,000, meaning first home buyers are exempt from paying stamp duty.

[smartcode_project:default project_id=31751 project_image_fid=257777]

The two-bedroom, two-bathroom apartments also aren't subject to stamp duty given they start from $760,000, under the $800,000 threshold.

Part of Mason &amp; Main is an integrated&nbsp;'Eat Street', which has proven an attractive addition for first home buyers who don't have to travel far to dine out.

<h2>Rockdale</h2>

<a href="https://www.urban.com.au/developments/rockdale-nsw-2216">Rockdale</a>, in southern Sydney has emerged as a popular spot for first home buyers, one of the closest to the beach.

Near Brighton-Le-Sands but with the transport links and amenity of being in an inner-city suburb, Rockdale has garnered interest from those looking to live near the sand without the pricetag.

The newest development in the suburb is&nbsp;<a href="https://www.urban.com.au/new-apartments/marque-rockdale-602-608-princes-highway-rockdale">Marque Rockdale</a>, a seven-level building with one-bedroom apartments designed for modern living.

[smartcode_project:default project_id=136442 project_image_fid=277072]

Marque also offers the sought-after Latent Defects Insurance policy, which buyers are willing to pay a premium for when deciding to purchase a new apartment

Already topped out and advancing to a December 2025 completion date, one-bedroom apartments in Marque start at $650,000.

The Sydney suburbs first home buyers are looking to buy off the plan apartments

Unit values in <a href="https://www.urban.com.au/developments/sydney-nsw">Sydney</a> have remained resilient, while the house segment of the market continues to show signs of weakness.

CoreLogic's Monthly Index revealed that unit values rose by 0.2 per cent in November and 0.4 per cent over the past three months, while house values contracted by -0.4 per cent in November and are down -0.8 per cent over the past quarter.

Sydney’s median unit value is now $865,000, reflecting a 2.5 per cent increase since the start of the year.

Houses are facing greater challenges, driven by tighter lending conditions resulting from the Reserve Bank's decision to maintain interest rates, alongside ongoing affordability issues in a market that has shown considerable strength in recent years.

The volume of available listings has contributed to the market's rebalancing, with Sydney’s listings now 10.4 per cent above the five-year average—the highest for this time of year since 2018.

<h2>What happened in Sydney’s off the plan apartment market in November?</h2>

Enquiry levels in November were the highest they’ve been since April, with demand increasing across all regions from Castle Hill to Newcastle and everywhere in between.

The upswing in enquiry was largely driven by the downsizer/rightsizer market, which has been less affected by high interest rates compared to other market segments.

The Eastern Suburbs, in particular, saw a significant rise in demand from both downsizers/rightsizers and investors, spurred by two prominent projects from one of Sydney’s leading builder-developers.

<a href="https://www.urban.com.au/developers/toga-group">TOGA</a> recently completed Surry Hills Village, a redevelopment of the former "murder mall" on the border of Surry Hills and Redfern.

[smartcode_project:default project_id=9302 project_image_fid=306319]

It only took a few weeks for them to sell the final penthouse, which achieved a near-suburb record price after expressions of interest were sought at around $7.5 million.

<a href="https://www.urban.com.au/architects/sjb-architects">SJB</a> Director Adam Haddow drew inspiration from his award-winning Redfern residence when designing the three-bedroom penthouses at <a href="https://www.urban.com.au/buildings/surry-hills-village-redfern-6-14-baptist-street-redfern-nsw-2016">Surry Hills Village</a>.

A limited number of apartments remain for sale in the landmark mixed-use development, which also includes hospitality venues and retail spaces in Wunderlich Lane.

[smartcode_project:default project_id=9302 project_image_fid=313542]

TOGA’s <a href="https://www.urban.com.au/new-apartments/the-kensington-137-151-anzac-parade-kensington">The Kensington</a>, a different yet equally appealing development on Anzac Parade, has been attracting interest from all buyer types in recent months.

Located directly outside a light rail stop and within walking distance of the Prince of Wales Hospital, the University of New South Wales, and Centennial Park, The Kensington has proven especially attractive to both first home buyers and investors.

The development features 142 one, two and three-bedroom apartments currently under construction by 4.5-Star iCIRT rated builder <a href="https://www.urban.com.au/builders/dasco-australia">DASCO</a>, and will sit above seven retail spaces—an element TOGA consistently incorporates into its projects.

[smartcode_project:default project_id=110959 project_image_fid=307645]

TOGA has also just broken ground on <a href="https://www.urban.com.au/new-apartments/macquarie-rise-122-herring-road-macquarie-park">Macquarie Rise</a>, its fourth development in <a href="https://www.urban.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a>. This project will feature three residential towers with a total of 268 apartments. Over 100 units have already been sold.

The $400 million development, designed by <a href="https://www.urban.com.au/interior-designers/turner-studio">Turner Studio</a>, will offer flexible living spaces and lifestyle amenities, including a 20-metre lap pool, a Pilates studio, and a cinema room.

[smartcode_project:default project_id=89243 project_image_fid=242700]

November also saw the unveiling of the Sydney Olympic Park Master Plan 2050, which aims to transform the precinct into a vibrant urban community.

The plan proposes the construction of up to 13,000 new homes, including affordable housing, as well as cultural, recreational, and green spaces.

<img alt="Inside the Sydney Olympic Park Master Plan 2050" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/1730068339168.jpg?VersionId=k1DAC2irCX3vAbZgVt7ibYYHDtma7Brw" />

Key precincts, such as the Urban Centre, are set to integrate residential, commercial, and cultural facilities, while environmental conservation efforts also aim to enhance urban greening and sustainability.&nbsp;

As far as looking ahead goes, <a href="https://www.urban.com.au/developers/charter-hall">Charter Hall</a> unveiled plans for a near-$1 billion mixed-use tower at&nbsp;201-217 Elizabeth Street in the CBD.&nbsp;&nbsp;

<img alt="Sydney skyline transformation to continue as Charter Hall pitch near-$1 billion skyscraper" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/201%20-%20217%20Elizabeth%20Street%2C%20Sydney%20podium.png?VersionId=lUg5UW5EJFhvvc7kGotbds2rJZPmUQeW" />

The 55-level skyscraper will feature a combination of hotel accommodations and 264 apartments, ranging from one to four bedrooms, alongside retail and hospitality spaces.&nbsp;

Designed by <a href="https://www.urban.com.au/architects/fjc-studio">fjc studio</a>, the tower aims for exemplary sustainability benchmarks and offers sweeping views of Hyde Park and Sydney Harbour.

Staying in the CBD,&nbsp;Signapore-listed First Sponsor Group and joint venture partner <a href="https://www.urban.com.au/developers/icd-property">ICD Property</a> revealed the first look of their redevelopment of the 130-year-old, state heritage-listed City Tattersall Club building on Pitt Street.

[smartcode_project:default project_id=12428 project_image_fid=312146]

The 241 premium apartments will hit the market in 2025 with CBRE.

<a href="https://www.urban.com.au/architects/bvn-architecture">BVN Architecture</a> won the design competition to create the new development, dubbed Sydney House, handling both the tower and the interiors. FJC Studio led the design of the heritage podium.

[smartcode_project:default project_id=12428 project_image_fid=312147]

Given the short supply of new apartments in Sydney, projects in the city tend to outperform the majority of other markets.

<a href="https://www.urban.com.au/developers/mirvac">Mirvac</a> smashed records for its first release of its luxury <a href="https://www.urban.com.au/new-apartments/harbourside-by-mirvac-2-10-darling-drive-darling-harbour">Harbourside Residences</a> in Darling Harbour. Their $600 million worth of pre-sales was the highest they've achieved in their 50+ year history.

Over 140 apartments have been conditionally sold to local buyers with sold prices ranging from just over $1.7 million to $25 million.

The sales launch for the 48-level luxury residential tower, a redevelopment of the former Harbourside shopping centre, saw a strong response from a diverse range of buyers including downsizers, families and couples from the local market, including the inner west, northwest, eastern suburbs, and north shore of Sydney. There were also some interstate buyers.

[smartcode_project:default project_id=141327 project_image_fid=314728]

New projects on the Sydney Metro line continue to do well.

<a href="https://www.urban.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, the apartments above the Crows Nest Station being developed by Third.i and Phoenix Property Investors saw a successful launch.

Designed by Woods Bagot,&nbsp;<a href="https://www.urban.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>&nbsp;comprises&nbsp;130 one, two, and three-bedroom apartments.

[smartcode_project:default project_id=142550 project_image_fid=309369]

<a href="https://www.urban.com.au/developers/thirdi-group">Third.i</a> Co-Founder Luke Berry said the unprecedented demand and strong interest not only reflects the quality of the apartments, but also the increasing demand for convenient, transit-oriented living in Sydney's dynamic real estate market.

“We are thrilled with the strong sales results at launch for Elevate Hume Place, this achievement highlights the growing appetite for contemporary living that prioritises accessibility and connectivity,” Berry said.

“The design, amenities, demographic, and prime location of Elevate Hume Place have attracted a diverse range of local and international buyers, from young professionals and first home buyers to investors and downsizers, all seeking the perfect blend of urban convenience and community charm.”

[smartcode_project:default project_id=142550 project_image_fid=309370]

<a href="https://www.urban.com.au/developments/castle-hill-nsw-2154">Castle Hill</a> has also ramped up another notch since the metro opened.

Developer <a href="https://www.urban.com.au/developers/ellipse-property-group">Ellipse Property</a> has the largest development in the area, just across the road from the newly opened Hills Showground Precinct station.

Ellipse recently put shovel to ground on <a href="https://www.urban.com.au/new-apartments/atrium-at-carrington-place-40-42-ashford-avenue-castle-hill">Atrium</a>, the first stage of Carrington Place which is over 50 per cent sold.

<a href="https://www.urban.com.au/builders/decode">Decode</a>, another iCIRT rated builder, is constructing Atrium, part of the wider $750 million masterplan that borders the Cattai Creek. Carrington Place will comprise five stages that, when complete in 2032, will have over 800 homes. Atrium is set to complete in late 2025.

[smartcode_project:default project_id=89496 project_image_fid=216765]

Outside of the Sydney Metro area, <a href="https://www.urban.com.au/developers/gwh">GWH</a>, Newcastle's only builder-developer, launched its latest development.

<a href="https://www.urban.com.au/new-apartments/era-newcastle-124-126-bull-street-newcastle-west-nsw-2302">ERA by Newcastle</a>, two towers designed by <a href="https://www.urban.com.au/architects/fender-katsalidis-architects">FK Australia</a>, will comprise 281 apartments and over 2,000 sqm of resident amenities, aiming to cater to a wide range of buyers, including downsizers and first-home buyers.

[smartcode_project:default project_id=135096 project_image_fid=309968]

ERA is expected to cater to different buyer groups, from first home buyers and investors from Sydney to local downsizers who want a low maintenance, city-centric lifestyle while also being ideally located just a few kilometres from Newcastle’s famous beaches.

City Beat November 2024: Sydney unit values rise while house values decline as market softens

Elevate Hume Place, the new apartment development above Crows Nest Metro by developer <a href="https://www.urban.com.au/developers/thirdi-group">Third.i</a> and joint venture partner Phoenix Property Investors, has secured enormous support from local and international buyers.

Elevate is one of the most popular&nbsp;transit-oriented developments in Sydney, above the newly opened metro that will connect future Elevate residents to the rest of Sydney in minutes.

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/third-i-offer-10k-deposits-at-elevate-hume-place-apartments-above-crows-nest-metro">Third.I offer $10k deposits at Elevate Hume Place apartments above Crows Nest Metro</a>

[smartcode_project:default project_id=142550 project_image_fid=309367]

Designed by Woods Bagot, <a href="https://www.urban.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>&nbsp;comprises&nbsp;130 one, two, and three-bedroom apartments.

Third.i Co-Founder Luke Berry said the project has received over 6,000 leads with over 400 appointments to date, with this unprecedented demand and strong interest not only reflecting the quality of the apartments but also the increasing demand for convenient, transit-oriented living in Sydney's dynamic real estate market.

“We are thrilled with the strong sales results at launch for Elevate Hume Place, this achievement highlights the growing appetite for contemporary living that prioritises accessibility and connectivity,” Berry stated.

“The design, amenities, demographic, and prime location of Elevate Hume Place have attracted a diverse range of local and international buyers, from young professionals and first home buyers to investors and downsizers, all seeking the perfect blend of urban convenience and community charm.”

Freya Watson, JLL’s Head of Residential Project Sales Australia - the sales partner for Elevate Hume Place - shared insights into the diverse range of buyers the development has attracted.

“Elevate Hume Place sets a new standard for transit-oriented living, appealing to both owner-occupiers and investors. Properties near metro stations often achieve a 20-30 per cent price premium and attract high rental demand, which has contributed to the strong buyer interest. Buyers clearly recognise the long-term potential of this development.”

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/why-the-investment-potential-at-elevate-hume-place-above-crows-nest-metro-is-proving-too-good-to-miss">Why the investment potential at Elevate Hume Place above Crows Nest Metro is proving too good to miss</a>

[smartcode_project:default project_id=142550 project_image_fid=309368]

A significant portion of the buyer interest has come from Asia.

Among these international buyers, 25% are seeking residences for their children studying in Sydney, while another 25% are Australian passport holders or permanent residents looking for personal stays. The remaining 50% are investment-driven buyers, primarily from Singapore and Hong Kong, attracted by the project’s strong rental return potential.

“The Metro is a huge draw for buyers, especially those who value or are accustomed to the convenience of public transport, with its prime location and quick access to the CBD," Watson added.

"The city views are also a major attraction, along with the abundance of schools and universities right on the doorstep."

[smartcode_project:default project_id=142550 project_image_fid=297878]

Berry says Elevate Hume Place buyers will experience a perfect blend of connectivity, community, and the vibrant lifestyle that <a href="https://www.urban.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> offers.

“Elevate features shared spaces that promote community interaction, iconic Sydney views, and sustainable design elements. The thoughtfully designed apartments foster a meaningful connection to the natural surroundings while honouring the site’s rich history. In addition to direct metro access, residents will benefit from being close to Crows Nest Village, which provides a variety of lifestyle amenities.”

Prices at Elevate start from $970,000.

[smartcode_project_cta:default project_id=142550]

Unprecedented demand from local and international buyers for Third.i’s transit-oriented development

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