ASX-listed developer&nbsp;<a href="https://www.urban.com.au/developers/cedar-woods">Cedar Woods</a>&nbsp;has acquired a development site in&nbsp;Fairfield, Victoria, as part of the company's more assertive acquisition strategy.

The 11,600 sqm site is uniquely positioned between the Yarra River and Merri Creek parklands, has over 200m of direct frontage to Fairfield Park, and is located only 4.2km from the Melbourne CBD, with the elevated site boasting uninterrupted views of the city skyline.

The site, which is zoned for the intended residential use, will be developed into a mid-rise, multi-stage apartment project, yielding approximately 300 dwellings that will command premium pricing due to the sought-after location.

The site was acquired from a private vendor for $50m on deferred payment terms, with payments to be made in 2027 and 2028.

Sales for the project are expected to be launched in FY27, and with first stage settlements expected in FY29 or earlier, subject to approvals and market conditions.

According to research house, Charter Keck Cramer, Melbourne is projected to have a chronic shortfall in apartments of around 23,500 in coming years with apartment commencements at their lowest level in over 15 years. The total number of approved homes fell by 5.7% in April to 14,633, according to data just released by the ABS.

Cedar Woods’ Managing Director, Nathan Blackburne, said the acquisition will augment the Company’s current Victorian portfolio and provide quality apartments in a market where a significant undersupply is forecast.

“We see Melbourne as an opportunity for counter-cyclic acquisitions of quality sites and are preparing for increased homebuyer demand as purchasers respond to lower interest rates and supportive government policies,"&nbsp;Blackburne said.

“Cedar Woods will craft a premium design for the site to make the most of its unique park-front location and uninterrupted views of the CBD and local area.”

Builder availability in Victoria is superior to other states and extensive work has been undertaken to determine expected construction costs, with multiple builders capable of delivering such a project at competitive prices. Risks will be mitigated through presales, further builder due diligence, and contract structure.

“With our strong balance sheet, and favourable macro conditions, Cedar Woods is continuing its strategy of diversification – by product type, price point, and location – and strengthening our portfolio with quality sites that we can deploy into an undersupplied market”, Blackburne added.

The acquisition comes after the recent announcement of the acquisition of a South Australian site at which the company is planning a premium masterplanned community.

Sales for the project are expected to be launched in FY27, and with first stage settlements expected in FY29 or earlier, subject to approvals and market conditions.

Joel Robinson

Cedar Woods acquires Fairfield site for new residential development

There aren’t many luxury penthouses in Fitzroy, fewer still that offer unobstructed views, two separate living zones, and over 300 sqm of living space. Especially in a Melbourne suburb better known for terrace houses and converted warehouses than for vertical-scale opulence.

But well-known local developer <a href="https://www.urban.com.au/developers/sma-projects">SMA Projects</a> has reserved the entire top floor of its newest apartment development,&nbsp;<a href="https://www.urban.com.au/new-apartments/the-regent-fitzroy-340-fitzroy-street-fitzroy-vic-3065">The Regent Fitzroy</a>, for two apartments, but one very distinct penthouse that will stand unrivalled in the popular inner-city suburb.

[smartcode_project:default project_id=24824 project_image_fid=304614]

The penthouse, with its immense north-facing view, is the largest in the block. The four-bedroom residence has been cleverly designed by Hayball Architects to include two separate living areas, accommodating a variety of household needs, from young families wanting a second space for children, to those approaching the empty-nester stage, with adult children studying at university.

At the heart of the home is a central kitchen, designed and realised by the renowned interiors team at Studio Tate. It is anchored by a full-length island bench with an overhang intended for casual dining and entertaining. It also includes a full butler’s pantry, an inclusion more typically found in high-end houses than in city apartments.&nbsp;

This open-plan space, which incorporates the main living area and a dedicated dining zone, is framed by a wraparound terrace that is deep and long enough to accommodate multiple lounge areas, a dedicated outdoor kitchen, and an alfresco dining space.

[smartcode_project:default project_id=24824 project_image_fid=304613]

The master suite features a walk-through wardrobe, a double vanity, a freestanding bath, and a shower, and it opens directly onto the terrace. Easily the showstopper at this old Fitzroy theatre site of its original namesake. Each of the three additional bedrooms also includes their own en-suite with showers.

To preserve the functionality of the main living areas, Studio Tate has demonstrated refined design thinking to incorporate a separate study, featuring a long, integrated desk ideal for multiple work-from-home setups, tucked privately away from the main living zones. Meanwhile, the laundry, often squeezed into a butler’s pantry in more typical compact designs you’d find throughout Fitzroy, has been given its own fully dedicated room.

[smartcode_project:default project_id=24824 project_image_fid=304603]

The Regent occupies the former site of the old Regent Theatre, which was demolished in the early 1980s. In response to this storied inner Melbourne history, SMA Projects, Hayball Architects and Studio Tate have drawn subtle references from the site’s cinematic past through materiality and form.

The Regent's design includes curved motifs, tactile surfaces, and dual interior palettes which were inspired by the glamour and texture of the classic cinema architecture of the original building.

While both top-floor apartments benefit from the development’s broader architectural language, the penthouse asserts a distinct presence through its positioning, size, and north-facing outlook.

The Regent presents a considered selection of luxurious, hotel-inspired amenities—including concierge service, a private guest suite, resident workshop, dog wash station, and curated ground-floor retail—designed to offer comfort, convenience, and a lifestyle defined by distinction.

[smartcode_project:default project_id=24824 project_image_fid=304615]

Importantly, all apartments in the building offer on-title car parking with no stackers or car lifts, a practical point of difference that will appeal to owner-occupiers.

Positioned in one of Fitzroy’s quieter pockets, The Regent is still within walking distance to Brunswick Street, Smith Street, and Carlton Gardens.

Tram connections also place the city within eight minutes of the CBD, while surrounding dining, cultural and retail amenities remain a drawcard for local and interstate buyers alike.

The Regent will comprise 64 one, two, and three-bedroom apartments, with two-bedroom, two-bathroom residences starting from $699,000 and the penthouse selling at $8,500,000.

Currently, off the plan apartment buyers in Victoria can purchase with no stamp duty for a limited time only.

[smartcode_project_cta:default project_id=24824]

SMA Projects unveils its luxury penthouse crowning The Regent Fitzroy

Builder-developer 5Point has received an unprecedented uplift at its under-construction luxury new Palm Beach apartment development, Ophira Palm Beach.

The significant planning approval allows 5Point to increase the building height and add another two full-floor apartments to the exclusive development on the Jefferson Lane beachfront, enhancing what was already one of the most anticipated absolute beachfront apartment offerings on the southern Gold Coast with sales prices averaging in excess of $7 million.

When first launched last year, five of the then-eight apartments were snapped up within just a few months, by local downsizers.

Only one of the full-floor apartments remains for sale, with the two-level penthouse currently under negotiation.

<img alt="web living" data-entity-type="file" data-entity-uuid="abc1eef9-cde1-4b56-af4d-b3e43403ab60" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/WEB_type_b_living___dining_ophira_option_1_3D_render_by_VV.jpg?VersionId=WHQyVek5KPIeBIyCyJ1oD51ovuSM_mKR" />

5Point Projects Managing Director Damian Dove said the uplift was a major milestone for Ophira and 5Point, demonstrating that when the Gold Coast City Council’s strategic planning guidelines have been met, there is an acceptance for this type of development along the coastline.

“We had gone for low density, low occupancy in the original scheme,” Dove says, adding that it was their plan to go for the uplift to 12 levels.

“We were confident that if the building was designed for the downsizer in the luxury market space we would be able to meet city plan’s framework objective.”

Dove believes the approval will sit as a benchmark for what the local council and community will accept for future development along the beach.

“I am hopeful that Palm Beach will benefit as a result whereby great design and planning will continue to enhance the beachfront landscape.”

<img alt="Ophira" data-entity-type="file" data-entity-uuid="b135701f-aa1e-467d-a666-f5ec112f8010" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-06-18%20at%203.06.03%E2%80%AFPM.png?VersionId=QtvRNlHySLdvGnnV0Y8hhbi91gU8zvWW" />

Each full-floor residence will offer between 294 sqm to 322 sqm of internal and external living space, including balconies with uninterrupted ocean views. They will have three ensuited bedrooms, display wine storage, and a scullery off the kitchen.

Ophira’s two-level penthouse will deliver 516 sqm of internal and external living space, comprising four bedrooms, four-and-a-half bathrooms, and its own private lift, bar and outdoor entertainment area featuring a pool, sauna, and sundeck.

Dove says the strong sales received to date is a testament to the design by BDA, the clever configurations of the floorplans to hero the beachfront setting, and the timeless luxury architectural fixtures and finishes.

“As with each of our projects, we wanted to create something that differentiated itself from the market," Dove said.

“We are passionate about creating spaces that resonate with the unique essence of Palm Beach while meeting the evolving needs of modern living."

<img alt="Superman" data-entity-type="file" data-entity-uuid="519e4360-f8a1-420d-a776-fd9e5293b617" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/WEB_superman_ophira_3D_render_by_VV.jpg?VersionId=9Www51ROXAiqgI.oDQuELXRjdko6AtmP" />

Since bringing development in-house to their already well-established construction business, 5Point has a proven capability and success. They have over $160 million of apartments under contract on Jefferson Lane alone.

Their second Jefferson Lane development, Palm Shores, just 400 metres up the road from Ophira, sold eight of its 16 residences in just four weeks. Now 12 have sold, leaving just four remaining, including a unique four-bedroom two-level beach home that offers direct beach access.

[smartcode_project_cta:default project_id=138441]

5Point Projects Managing Director Damian Dove believes the approval will sit as a benchmark for what the local council and community will accept for future development along the beach.

5Point’s Ophira uplift puts Palm Beach beachfront centre stage

Diversified developer Loftex is seeking to trigger the affordability uplift at its new Chatswood apartment tower.

They've filed for a State Significant Development Application for a 35-level tower designed by EM BE CE on a central 2,290 sqm site near the Chatswood Interchange.

EM BE CE won the design competition for what was in 2022 a 127-unit, 27-level tower at 3-5 Help Street, besting&nbsp;schemes from Kann Finch and Nettleton Tribe.

<img alt="Help St" data-entity-type="file" data-entity-uuid="c23ac16f-78ac-4426-8bae-45233ed9974e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-06-18%20at%2011.36.41%E2%80%AFAM.png?VersionId=z3Ww3tfYXdQt.ewxtezeaqbBtv_UwxRW" />

The upscale plans will now see 160 apartments delivered, 32 of those being affordable housing. The apartments will sit alongside 2,345 sqm of commercial space and a new 695 sqm public domain, anchored by the creation of “Cambridge Walk,” a north-facing landscaped promenade that will act as a key pedestrian link in the growing Chatswood centre.

The apartments will also sit&nbsp;atop a five-level podium and five levels of basement parking.

“The striking folding form of the building expresses and celebrates a key node in the city that it occupies,” EM BE CE noted in the Design Report.

“Its form has been derived from the complying envelope, refined to maximise the North-East outlook and sun for the residents.”

<img alt="Help St" data-entity-type="file" data-entity-uuid="3f6a8ab3-245c-4616-af13-27192aa60b3e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-06-18%20at%2011.36.36%E2%80%AFAM.png?VersionId=eDnpPUthEWI72rZO2v9SxUleXyJs.82m" />

The site occupies a prominent position, bounded by Help Street to the south, Cambridge Lane to the west, and McIntosh Street to the north, placing it just north of the Chatswood transport interchange and adjacent to existing high-rise developments and infrastructure. This part of Chatswood has been earmarked for significant residential intensification under the Chatswood CBD Strategy 2036, which promotes high-density, mixed-use towers that contribute positively to the cityscape and public realm.

The apartment mix includes:

<ul data-end="2194" data-start="2031">
	<li data-end="2058" data-start="2031">
	37 one-bedroom apartments
	</li>
	<li data-end="2097" data-start="2059">
	18 one-bedroom affordable apartments
	</li>
	<li data-end="2125" data-start="2098">
	75 two-bedroom apartments
	</li>
	<li data-end="2164" data-start="2126">
	14 two-bedroom affordable apartments
	</li>
	<li data-end="2194" data-start="2165">
	16 three-bedroom apartments
	</li>
</ul>

EM BE CE said there will be "no dud apartments", with&nbsp;over 78 per cent of residences enjoying dual aspects.

The design weaves greenery through all levels, drawing from the Sandstone Ridgetop Woodlands and Blue Gum Forest typologies, and incorporating terraces and roof gardens that provide relief and texture.

“The deep reveals of the podium are an environmental and architectural response,” EM BE CE added. “These provide shading to the commercial areas and create opportunities for the ground floor tenancies to occupy the building edge.”

Chatswood underwent a wave of new planning proposals with various legislative changes expanding the CBD, which allowed for sites on the periphery of what was deemed the CBD to trigger increased height limits.

While several developments are earmarked for the suburb, only a handful have kicked off in recent years. Both <a href="https://www.urban.com.au/developers/goldfields-group">Goldfields Group</a> and <a href="https://www.urban.com.au/developers/central-element">Central Element</a> are under construction at their two Chatswood towers, <a href="https://www.urban.com.au/new-apartments/the-bryson-of-chatswood-871-877-pacific-highway-chatswood-nsw-2067">Bryson of Chatswood</a> and <a href="https://www.urban.com.au/new-apartments/ethos-15-ellis-street-753-pacific-highway-chatswood">Ethos Chatswood</a>.

First look: Loftex's Chatswood tower goes public with affordable uplift

The rising cost of construction, combined with significant growth in Sydney’s property market, means first home buyers looking to get a foothold on the property ladder need to act quickly in the new apartment market.

In 2023, the NSW Government increased the concessional stamp duty threshold to $800,000. This means first home buyers purchasing a new or off-the-plan apartment below this threshold pay no stamp duty — a saving of up to&nbsp;$31,090.

However, due to escalating construction costs, fewer apartment towers are being built. As a result, there’s a reduced supply of one-bedroom apartments in the market — the configuration type most likely to fall under the $800,000 threshold.

This means first home buyers must move fast when new developments are released with apartments priced below $800,000. These opportunities are becoming increasingly rare and are now also attracting serious interest from investors. While investors don’t benefit from the stamp duty concession, they are buying in an environment of falling interest rates, rising property prices, and rents at or near historic highs.

In this article, we've rounded up the top six new developments across Greater Sydney that has apartments that fall under $800,000 and make sense for first home buyers.

<h2>What: Auburn Square</h2>

<h2>Where: 26-36 Northumberland Road, Auburn NSW 2144</h2>

<h2>Who: Tian An LFD</h2>

<h2>Priced from: $540,000</h2>

Tian An recently launched the next phase of its award-winning <a href="https://www.urban.com.au/buildings/auburn-square-stage-1-26-36-northumberland-road-auburn-nsw-2144">Auburn Square</a> precinct, with prices starting from $540,000.

The new stage, <a href="https://www.urban.com.au/new-apartments/north-village-auburn-square-35-northumberland-road-auburn-nsw-2144">North Village</a>, will comprise 264 apartments across a striking Rothelowman-designed building, above a new Coles supermarket and cafe.

[smartcode_project:default project_id=149184 project_image_fid=324852]

Over 25 per cent of the new apartments were snapped up on its recent launch, driven by first home buyers, young professionals, and local rightsizers.

North Village is the&nbsp;only new development in&nbsp;<a href="https://www.urban.com.au/developments/auburn-nsw-2144" target="">Auburn</a>&nbsp;to offer the sought-after Latent Defects Insurance by Resilience Insurance. This insurance provides buyers with up to 10 years of coverage for any structural or waterproofing issues—not just in the building and common areas, but also within their individual apartments. It’s the most rigorous insurance available to developers, giving buyers genuine peace of mind when purchasing off the plan.

[smartcode_project:default project_id=149184 project_image_fid=324853]

iCIRT rated builder Binah is on site and is expecting to complete the building in 2027.

<h2>What: Central Quarter</h2>

<h2>Where: 242-252 Pitt Street, Merrylands NSW 2160</h2>

<h2>Who: Northland</h2>

<h2>Priced from: $598,700</h2>

Veteran developer Northland Group is also offering price-pointed apartments in their recently launched Merrylands development, <a href="https://www.urban.com.au/new-apartments/central-quarter-merrylands-242-252-pitt-street-merrylands-nsw-2160">Central Quarter</a>.

Also with the Latent Defects Insurance policy, Central Quarter offers 194 one-, two-, and three-bedroom apartments next to Merrylands Station, bus interchange, and Stockland Merrylands retail centre.

[smartcode_project:default project_id=5660 project_image_fid=343722]

Northland is also bringing doorstep convenenience to its podium levels in the form of a fast food operator, a 24/7 gym, and a childcare centre.

The builder-developer is well underway in the construction phase and is expecting to welcome buyers in the middle of 2026.

<h2>What: Horizon Hurstville</h2>

<h2>Where: 6 Jack Brabham Drive, Hurstville NSW 2220</h2>

<h2>Who: One Collection</h2>

<h2>Priced from: $657,000</h2>

Another developer who has timed their launch to coincide with significant progress in the build is One Collection, who has recently launched&nbsp;<a href="https://www.urban.com.au/new-apartments/horizon-hurstville-6-jack-brabham-drive-hurstville-nsw-2220">Horizon Hurstville</a>, in the heart of the connected south Sydney suburb.

Horizon is the final building within a wider precinct which already&nbsp;features a Woolworths supermarket and direct access to Kempt Field.

[smartcode_project:default project_id=149850 project_image_fid=278]

It’s the park and convenience that underpin&nbsp;<a href="https://www.urban.com.au/developments/hurstville-nsw-2220" target="">Hurstville</a>’s strong Walk Score of 81 — a number set to improve with the arrival of&nbsp;<a href="https://www.urban.com.au/new-apartments/st-clair-birtinya-930-931-waterside-retreat-birtinya" target="">St Clair</a>&nbsp;Lane, a new retail laneway soon to be activated by hospitality, health, and lifestyle businesses.

Above St Claire Lane, 179 one-, two-, and three-bedroom apartments are now available, priced well under the threshold for first home buyers to pay no stamp duty.

<h2>What: Dawn, Melrose Park</h2>

<h2>Where: 82-84 Wharf Road, Melrose Park NSW 2114</h2>

<h2>Who: Sekisui House Australia</h2>

<h2>Priced from: $639,000</h2>

&nbsp;

Sekisui House Australia has seen a wave of first home buyers at its latest stage of its Melrose Park masterplan, Dawn.

Priced from $639,000, the 368 apartments sit the closest to the new park being delivered by Sekisui. GroupGSA has designed the apartments to take in as much of the natural surroundings as possible.&nbsp;

[smartcode_project:default project_id=145496 project_image_fid=334048]

There are one, two and three-bedroom apartments on offer, as well as luxury penthouses with private rooftop terraces.

Dawn’s prime location close to the future Melrose Park High School,&nbsp;<a href="https://www.urban.com.au/developments/parramatta-nsw-2150" target="">Parramatta</a>&nbsp;Light Rail Stage 2 connection and&nbsp;<a href="https://www.urban.com.au/developments/melrose-park-nsw-2114">Melrose Park</a>&nbsp;Town Centre as well as extensive parklands, make it a popular choice with purchasers.

&nbsp;

<h2>What: Melrose Central</h2>

<h2>Where: 33 Hope Street, Melrose Park NSW 2114</h2>

<h2>Who: Deicorp</h2>

Deicorp also has seen a significant number of first home buyers at their slice of Melrose Park.

Their new development,&nbsp;<a href="https://www.urban.com.au/new-apartments/melrose-central-melrose-park-33-hope-street-melrose-park-nsw-2114">Melrose Central</a>, is&nbsp;a $700 million joint venture with PAYCE and will feature a mixed-use project that will deliver around 500 apartments above a substantial 30,000 sqm retail podium anchored by Coles.

[smartcode_project:default project_id=134220 project_image_fid=289882]

The site’s early stages are already under construction, with completion of the first three towers expected by mid-2027.

Design is led by <a href="https://www.urban.com.au/architects/turner-studio">Turner Studio</a>, and the broader precinct will benefit from a new Parramatta Light Rail stop, connecting residents to Olympic Park, Parramatta, and Sydney Metro West in the years ahead.

In this article, we've rounded up the top six new developments across Greater Sydney that has apartments that fall under $800,000 and make sense for first home buyers

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