Boutique developer MADE Property is doubling down in the Prime Minister's neighbourhood.

Fresh off the back of launching <a href="https://www.urban.com.au/new-apartments/kirribilli-harbour-75-kirribilli-avenue-kirribilli">Kirribilli Harbour</a>, nine luxury apartments on Kirribilli Avenue, <a href="https://www.urban.com.au/developers/made-property-group">MADE</a>, led by Davin Finn, is planning their next development.

They're seeking to develop 19 two and three-bedroom apartments at <a href="https://www.urban.com.au/new-apartments/carabella-22-24-carabella-street-kirribilli-nsw-2061">22-24 Carabella Street</a>. It's a slightly different location from Kirribilli Harbour, more Jacaranda streetscapes than Harbour views.

<img alt="Kirribilli Made Property" data-entity-type="file" data-entity-uuid="e32e2cb3-ef33-48e6-8dc9-21d1436d78ed" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Kirribili%20Made%20Property.png?VersionId=esGROOa7jYjnKZ7O.e1bMYFTucfiBidZ" />

The amalgamated 1,964 sqm site, that already has approval for 26 apartments from a 2021 application, is currently occupied by a block of six apartments at 24 Carabella, which is of neutral heritage significance, and a non-heritage block of apartments at 22 Carabella.

The proposal by SJB Architects retains the existing red-brick facade at 24, while demolishing number 22. The development will be split into&nbsp;two four-level buildings - separated by a central landscaped corridor that enhances permeability and greenery on the site.

“The landscape strategy is to retain the street trees of Jacarandas, Brisbane Box and Crepe Myrtles species, providing a landscaped outlook for the residents, while also masking the bulk of the proposed building form," SJB noted in the application to the North Sydney Council.

<img alt="Kirribili Made Property Peet St facade" data-entity-type="file" data-entity-uuid="370b5953-f261-4e69-9620-61d766b8696a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Kirribili%20Made%20Property%20peet.png?VersionId=5cHsEJDdu6CJRSHEsF7kqzOURA5rbx3w" />

MADE recently launched Kirribilli Harbour, a similar-style project with a restoartion of an inter-war building, one of the first ever built in Kirribilli, complemented by a new five-level building next door that will home&nbsp;a communal gym, wine room, and five of the nine apartments.

MADE is currently delivering <a href="https://www.urban.com.au/new-apartments/corsa-mortlake-140-tennyson-road-mortlake">Corsa Mortlake</a>,&nbsp;on one of&nbsp;<a href="https://www.urban.com.au/new-apartments/mortlake-nsw-2137">Mortlake</a>&nbsp;Point's last remaining foreshore development sites and the last significant parcel of land at the end of Tennyson Road. That will comprise just 20 three-bedroom residences and a private marina berth.

Last year the developer completed Crenelle in Neutral Bay.

Joel Robinson

First look: MADE Property doubles down in Kirribilli new apartment market

Brisbane-based developer<a href="https://www.urban.com.au/developers/spyre-group"> Spyre Group</a> is well-known in both Brisbane and the Gold Coast for creating some of the best new apartment projects in recent years, predominantly servicing the owner-occupier and downsizer market.

Their move into Melbourne came as a surprise to many, but the style of development did not, nor its location.

They chose Hampton, in Melbourne's affluent Bayside area, for their first development in the Victoria capital, <a href="https://www.urban.com.au/new-apartments/hampton-ltd-36-deakin-street-n-hampton-vic-3188">Hampton Ltd</a>, just 20 apartments and three townhouses&nbsp;on the corner of Thomas Street and Deakin Street North.

Spyre Managing Director Daniel Laruccia said <a href="https://www.urban.com.au/interior-designers/studio-brent-lee">Hampton</a>’s combination of bayside location and community feel made it a natural fit for Spyre’s design-led approach.

“In our pursuit to offer an unmatched living experience for those who desire the extraordinary, we discovered Hampton is the ideal canvas to bring this vision to life - a prime bayside location brimming with untapped potential," Laruccia said.

[smartcode_project:default project_id=134801 project_image_fid=220067]

The trio of buildings that make up Hampton Ltd have been designed with an individual character, a deliberate move to provide residents with a more personal living experience.

Rather than a single monolithic structure, Hampton Ltd’s configuration promotes a stronger sense of address and individuality for each home, while also allowing&nbsp;for larger setbacks and outdoor spaces compared to typical multi-residential projects in the area.

[smartcode_project:default project_id=134801 project_image_fid=346337]

There are two and three-bedroom apartments on offer, as well as three two-level&nbsp;townhomes, with layouts designed to maximise natural light and create generous internal proportions.

Architecture is by <a href="https://www.urban.com.au/architects/mld-studio">MLD Studio</a>, while <a href="https://www.urban.com.au/interior-designers/studio-brent-lee">Studio Brent Lee</a> has handled the interiors which feature a considered palette of high-end finishes including natural stone benchtops, wool carpets and timber-look joinery.

Kitchens have been designed as central living spaces, anchored by sculptural marble island benches, while master suites offer extensive walk-in robes and abundant natural light.

[smartcode_project:default project_id=134801 project_image_fid=346335]

Hampton Ltd is ideally located in Hampton, offering proximity to the beach, as well as convenient access to Hampton Street’s retail and dining precinct and the wider Bayside lifestyle amenity including Brighton's popular Church Street retail strip.

The project, which is already under construction through&nbsp;<a href="https://www.urban.com.au/builders/abewolf">AbeWolf</a>,&nbsp;is proving to be popular with both local downsizers and rightsizers.

[smartcode_project:default project_id=134801 project_image_fid=220070]

Spyre Group is well known for its high-end&nbsp;residential developments across Queensland, including record-setting projects in Brisbane and the Gold Coast.

“With more than $800 million of luxury developments,&nbsp;Spyre&nbsp;has identified a genuine demand in the market for aspirational properties that inspire through their design and innovation,’’ Laruccia added.

Spyre’s Moray House development on the New Farm reach of the Brisbane River broke the record for Brisbane’s most expensive apartment sale in 2023 when its two-level, 800 sqm penthouse sold off the plan for $15.75 million.&nbsp;

In March last year, the penthouse of&nbsp;Spyre’s Glasshouse development at Burleigh Heads on the Gold Coast sold for $24 million, giving it the title of Queensland’s most expensive off the plan penthouse.&nbsp;

[smartcode_project_cta:default project_id=134801]

Spyre Managing Director Daniel Laruccia said Hampton’s combination of bayside location and community feel made it a natural fit for Spyre’s design-led approach.

Spyre Group brings successful Queensland blueprint to Melbourne with Hampton Ltd

Prominent Melbourne apartment developer Milieu is back in Brunswick for its latest project, Saxon Street by Milieu.

Milieu has matched its design-first ethos with a prime location that will put future Saxon Street residents in the heart of Brunswick’s growing cultural hub, adjacent to the Brunswick Baths and library, and neighbouring the new Balam Balam Place arts precinct—part of a broader vision by Merri-bek Council to reshape the area into a cultural and community destination.

<a href="https://www.urban.com.au/new-apartments/saxon-street-by-milieu-brunswick">Saxon Street by Milieu</a>, which will be the developer’s fifth project in Brunswick and will replace the former Brosnan Centre, will comprise one-, two-, and three-bedroom apartments starting from $575k. <a href="https://www.urban.com.au/developers/milieu-property">Milieu</a> is working in collaboration with architecture firm Jackson Clements Burrows, interior designer DesignOffice, and landscape architect Oculus.

[smartcode_project:default project_id=136434 project_image_fid=350705]

The nine-level building, which received more letters of support than objections during the planning process, has been designed to respond to both the fine grain of the surrounding streetscape and the cultural institutions that define this part of Brunswick. The lower levels follow the street line, while the upper storeys step back, softening the scale and improving solar access. Curved balconies and detailing reference the neighbouring heritage architecture, while materials and finishes adopt a restrained, urban palette.

Floorplans are oriented around flexible living, with interiors favouring open layouts and high solar access. In line with Milieu’s development pillar of Sustainability as Standard, the average energy rating across the building is 7.5 stars under NatHERS,&nbsp; all homes will be powered by an all-electric infrastructure supported by solar PV systems and the building is EV Charging ready.

[smartcode_project:default project_id=136434 project_image_fid=348840]

Shared spaces will include a landscaped communal rooftop with barbecues and two covered dining spaces, designed to encourage passive social interaction and support more sustainable lifestyles.

Brunswick’s Major Activity Centre designation has attracted steady development interest in recent years, and Saxon Street sits squarely within its most active precinct. Balam Balam Place, adjacent to the site, will further anchor the area’s transformation into a civic and cultural cluster, alongside the library, baths, and town hall.

[smartcode_project:default project_id=136434 project_image_fid=348839]

Milieu, founded in 2010 with 24 completed projects and led by Michael McCormack and Shannon Peach, said the Merri-bek Arts and Culture Precinct continues to evolve, fostering the arts and promoting health and wellness throughout the area.

Saxon Street is one of three developments Milieu is currently progressing. They will complete <a href="https://www.urban.com.au/new-apartments/plant-street-by-milieu-malvern-1-plant-street-malvern">Plant Street Malvern</a> later this year, and are soon to begin construction on <a href="https://www.urban.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, their nature-based neighbourhood in Elsternwick.&nbsp;

[smartcode_project_cta:default project_id=136434]

Milieu, founded in 2010 and led by Michael McCormack and Shannon Peach, said the Merri-bek Arts and Culture Precinct continues to evolve, fostering the arts and promoting health and wellness throughout the area.

Saxon Street by Milieu to bring new housing and urban design to Brunswick’s cultural core

Melbourne’s largest urban renewal project, the Fishermans Bend Innovation Precinct (FBIP), has reached a major milestone, with construction now underway to transform the former GM Holden site into a world-leading hub for advanced manufacturing, engineering, and design.

<h2>What Is the Fishermans Bend Innovation Precinct?</h2>

Backed by the Allan Labor Government, the FBIP is a cornerstone of the broader Fishermans Bend redevelopment, covering 480 hectares across the City of Melbourne and the City of Port Phillip.&nbsp;

Once complete, the precinct is expected to support up to 80,000 residents and 80,000 workers by 2050.

<h2>Stage 1: Infrastructure That Unlocks Jobs and Investment</h2>

The newly appointed Winslow Infrastructure Pty Ltd will deliver the first stage of the development, establishing a vital east-west road link between Salmon Street and Todd Road. This connection will unlock development-ready lots and attract significant industry investment to the precinct.

Alongside new transport links, Stage 1 will deliver a public park and foundational infrastructure to support a world-class ecosystem for design, manufacturing, and research.&nbsp;

Minister for Development Victoria and Precincts, Harriet Shing, said, “We’re delivering a well-connected and carefully planned precinct at Fishermans Bend, with connections to roads and new public spaces that will be incredibly important as development continues.”

<img alt="Fishermens" data-entity-type="file" data-entity-uuid="f2e9d6ef-ac18-43d6-bdee-8af6449d6718" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-05-19%20at%2010.19.58%E2%80%AFAM.png?VersionId=gR1Mf5hyDq5GWJctGhmG9laLJAwk9dmw" />

Smart infrastructure will play a key role in the FBIP’s future. OneWifi has been appointed to install smart poles across the precinct, enabling enhanced 5G coverage, improved Wi-Fi access, and support for electric vehicle charging.&nbsp;

These smart features are part of a broader strategy to create a digitally connected and sustainable innovation precinct.

Central to the precinct’s innovation ecosystem will be the University of Melbourne’s new School of Engineering and Design, opening in 2026. This campus is set to become a linchpin for collaboration between students, researchers, and industry leaders, with a strong focus on applied knowledge and practical solutions.

“The University of Melbourne is excited about the potential opportunities Fishermans Bend will bring to connect students and researchers with industry partners,” said Katerina Kapobassis, Chief Operating Officer at the University of Melbourne.

To support the growth and accessibility of the precinct, the government is also investing in a major transport overhaul. Since 2022, more than 1,500 additional weekly bus services have been introduced to improve frequency and coverage.&nbsp;

Planning is also underway for a dedicated tram connection, and the government has endorsed a preferred route for a future rail tunnel through Fishermans Bend and Docklands. These developments provide long-term certainty for landowners, developers, and future residents, helping ensure that the precinct is well integrated into Melbourne’s broader transport network.

<h2>Why It Matters</h2>

The Victorian Government is investing nearly $180 million to kickstart the FBIP, accelerating the creation of a world-class hub for advanced manufacturing and engineering right on the doorstep of Melbourne’s CBD.

“The Fishermans Bend Innovation Precinct will attract the world’s brightest minds in advanced manufacturing and engineering,” said Nina Taylor, Member for Albert Park.

Once complete, the precinct is expected to support up to 80,000 residents and 80,000 workers by 2050.

Construction begins at Fishermans Bend Innovation Precinct

GURNER Group and Qualitas have officially submitted plans for the third and final stage of its landmark $3.75 billion Jam Factory transformation - set to deliver a new precinct anchored by a new Village Cinemas flagship and a public piazza.

The latest submission marks an evolution of the site’s masterplan, replacing the previously approved “box-style” commercial tower fronting <a href="https://www.urban.com.au/new-apartments/500-chapel-street-south-yarra">Chapel Street</a> with a striking new architectural vision - sculptural ‘fluted’ towers that rise from the heritage façade.

The new development will have 800 ultra-premium residences with around 20,000 sqm of luxury retail, commercial, and hospitality venues, alongside two soon-to-be-announced world-renowned hotel brands.

<img alt="Jam" data-entity-type="file" data-entity-uuid="2ba0a36f-995d-4fc5-b28a-e85c5412ad13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-05-19%20at%208.52.14%E2%80%AFAM.png?VersionId=LLpTIB6dcgyJ8I.DdaxqJrdmzu5DKZXi" />

The final Stage of The Jam Factory will seek to bring to life a vibrant, multi-sensory destination with the Stage Three amendments proposing:

• ‘Lovers Walk’, a curated retail and dining laneway pulsing through the precinct, lined with luxury brands and curated hospitality offerings of Melbourne’s best eateries, venues and bars

• A fully reimagined Village Cinemas experience that will help restore the Jam Factory’s legacy as the heartbeat of Chapel Street’s golden era - where movie premieres, fashion, and culture collided.

• Major upgrades to the public realm, with increased building setbacks and 10% more sunlight across the precinct’s open-air spaces, enhancing its role as a central gathering point for the community

• The revitalisation of Garden Street, transforming a forgotten laneway into a key arrival point through new architectural treatments and improved site flow to create an engaging new façade for the precinct

• Previous building with a series of sophisticated ‘fluted’ forms, conceptualised by Skidmore, Owings &amp; Merril (SOM)

• Restoration of the heritage façade along Chapel Street and reconstruction of the heritage chimney acting as a centrepiece of the central piazza

Once complete the precinct will feature:

• 800 ultra-luxury residences across five buildings

• A world-class cinema experience by Village Cinemas

• An expanded public piazza surrounded by food, fashion, and lifestyle

• A curated retail precinct with both established and new - local and international brands -filling the missing link between Collins Street and Chadstone Shopping Centre.

• A commercial tower offering state-of-the-art workspaces enabling businesses to take full advantage of being located adjacent to the new world-class precinct.

<img alt="Jam Factory" data-entity-type="file" data-entity-uuid="442c6d14-9dab-4fcb-ab84-0f5b55ece121" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-05-19%20at%208.52.20%E2%80%AFAM.png?VersionId=EZ2TYacB5YjgVDQQFMBwn0xJSsghFT4d" />

Originally built in 1858, the Jam Factory has seen over 160 years of evolution - from brewery, to jam production hub, to retail icon.

Demolition is already underway led by Mann Group. Once complete the entire Jam Factory site will be 20,000 sqm, or equivalent to the size of the MCG, and will re-establish the site as a globally significant lifestyle and cultural destination.

"This incredible creation marks the most significant chapter in our brand’s evolution, as we transform an Australian icon into a new benchmark in global luxury," said Tim Gurner, Founder and Executive Chairman of GURNER Group.

“Our vision is to restore Chapel Street and South Yarra to its former glory as a hub of culture, fashion, and luxury, and bring global relevance back to one of Melbourne’s most important suburbs.

“It’s been a privilege to work closely with Village Cinemas on their new landmark complex; the Village Roadshow team is so genuinely passionate about the Jam Factory and restoring it’s status as Melbourne’s most iconic entertainment precinct.”

Once complete the entire Jam Factory site will be 20,000 sqm, or equivalent to the size of the MCG, and will re-establish the site as a globally significant lifestyle and cultural destination.

Gurner reveals new plans for final Jam Factory stage

A national new home building recovery is in sight, but state government housing policies risk stalling the recovery.

That's the view from HIA Senior Economist, Matt King, after the HIA&nbsp;released its Economic and Industry Outlook report.

The report includes updated forecasts for new home building and renovation activity nationally and for each of the eight states and territories.

“At the national level, demand for new homes is accelerating and this is largely due to the fact that the RBA hasn’t increased interest rates for a year, population growth is still elevated, the unemployment rate remains low and real incomes have stabilised,” King said.

“While activity is picking up, the varied nature of activity levels across capital city and regional markets continues to be pronounced.

“We have confidence that new home-building activity across most markets will continue to improve as we transition into the new year."

King said however that <a href="https://www.urban.com.au/developments/sydney-nsw">Sydney</a> remains an outlier, and there is still no indication of a near-term rebound in both detached houses and multi-residential buildings.

“New home building in the Sydney basin remains exceptionally low, primarily due to exceptionally high land prices and an ongoing excessive impost of housing taxes and infrastructure charges."

<a href="https://www.urban.com.au/developments/perth-wa">Perth</a>, <a href="https://www.urban.com.au/developments/adelaide-sa">Adelaide</a>, and South East Queensland continues to lead the way in new contract sales and building approvals, despite ongoing supply-side constraints.

In the September quarter of 2024, building approvals increased from the corresponding quarter last year in Western Australia (+60.1 per cent), Queensland (+24.2 per cent) and South Australia (+16.3 per cent) in seasonally adjusted terms.

The calendar year 2024 has produced a growing divergence of both geography and typology.

The detached home building sector looks promising, evidenced most recently by detached house approvals across Australia rising by 6.1 per cent in the month of September to 9,890. This was the highest monthly number of detached house approvals in two years.

King said in contrast, the apartment sector "remains constrained",&nbsp;and is unlikely to experience any material recovery before mid-2025.

"The sector continues to be dampened by skilled labour shortages, business credit constraints and the aftermath of significant building material cost escalation.

“It is anticipated that detached house starts will rise steadily from a trough of 100,230 in 2023 to 115,690 in 2027. If the supply of land and labour are addressed, there is significant upside potential for this forecast.

“With relatively stable economic conditions nationally, home prices will remain elevated, rental vacancies will remain acutely low and demand for new homes will recover."

King says the&nbsp;extent of the recovery in new home building will be determined by the ability of governments to ease the barriers to home building.

“Housing investment is encouraged by the certainty of policy settings. Recent state government announcements to levy increased surcharges on foreign investors and introduce taxes on short-term rental accommodation are unhelpful at a time when stability is needed to achieve the 1.2 million home target.

“Failure to implement policies such as expedited land release, concessions on property taxation, and accelerated development approval timeframes; risk slowing the rate of home building over the next five years.

“At the beginning of this upswing in the cycle and the initial stage of the National Housing Accord target period, now is the time to ensure that each state government housing policy mix is entirely pro-supply,” King stated.

There were 14,090 multi-unit commencements in the June quarter of 2024, which is 7.8 per cent lower compared to the previous quarter and the second weakest quarter in 12 years. This is expected to increase by 15.5 per cent in the September quarter to 16,260, followed by a modest 1.8 per cent increase in the December quarter.

The upswing will bring multi-unit starts in the calendar year 2024 to 62,190, the weakest year since 2011 (62,170). Multi-unit commencements are expected to rise by 11.5 per cent in 2025 to 69,360 and by a stronger 20.9 per cent in 2026 to 83,870, followed by a 20.3 per cent increase in 2027 to 100,860 and a 2028 peak of 104,380.

Home building increasing everywhere but Sydney

Resilience Latent Defects Insurance (LDI) is reshaping the way building defects are managed in Australia, providing the most extensive cover for off the plan property buyers in the market.

<h2>What is Resilience LDI?</h2>

Resilience LDI is the <a href="https://www.urban.com.au/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">first Latent Defects Insurance policy in Australia</a>. The insurance provides off the plan apartment buyers with a 10-year warranty for structural and waterproofing defects on both their new apartment and the building it's situated in.&nbsp;

The cover is purchased pre-construction by the property developer or builder and is designed to protect apartment owners against any immediate or future problems with the structural components of their new property, from leaks to cracks and everything in between.

<h2 id="ember48">Understanding first resort strict liability Latent Defects Insurance</h2>

First resort, strict liability LDI marks a significant advancement in consumer protection in the building industry. Unlike traditional insurance, which requires proving fault or negligence, this insurance operates on a strict liability basis. This means that issues can be addressed without needing to establish fault first—a long-standing problem in new developments. This delay often leaves consumers at a disadvantage, as problems remain unresolved while legal battles drag on, leading to increased costs and frustration

With strict liability insurance, consumers are entitled to compensation without navigating the complexities of proving fault or negligence. This streamlines the claims process and ensures faster resolution, providing&nbsp;consumers with primary coverage for damages resulting from latent defects, without the need to establish fault on the part of the builder or developer.

<h2>Further strengthens build quality</h2>

Latent Defects Insurance is a key indicator of build quality.&nbsp;Before a policy is issued, the construction process undergoes rigorous inspections by accredited independent experts.&nbsp;

These inspections ensure that any defects are identified and rectified during construction, not after.&nbsp;This proactive approach means that buyers can be more confident in the quality of their new apartment.

<h2>Increase apartment value</h2>

With LDI, buyers can rest assured that their property is safeguarded against structural defects for a decade after completion. This long-term coverage adds significant value to the property, making it more appealing to future buyers and potentially increasing resale values. Subsequent buyers will benefit from LDI coverage for the remainder of the 10-year policy on their newly purchased apartment.

Latent Defects Insurance is only being offered by Resilience Insurance in Australia. LDI has been a common policy worldwide for over seven decades, with over 40 countries offering LDI to new apartment buildings.

As a buyer, LDI isn't a policy you can take out individually on your apartment. Your new development either has the Resilience Latent Defects Insurance policy or it hasn't. Several of Australia's largest developers, such as Deicorp and Urban Property Group.

Latent Defects Insurance is only being offered by Resilience Insurance in Australia. LDI has been a common policy worldwide for over seven decades, with over 40 countries offering LDI to new apartment buildings

The advantages of first resort, strict liability, Latent Defects Insurance for off the plan property buyers

The latest dwelling approvals released by the ABS paint a bleak picture for the future of housing in Australia.

Following two months of growth, total dwelling approvals dropped -6.5 per cent in June, to be back around 12 year lows.

The most glaring statistic was that the declines were driven by New South Wales (-18.8 per cent) and Victoria (-13.5 per cent), the home of two of our largest capital cities and immigration hotspots.

Over the past 12 months, there have been a total of 162,892 dwellings approved, compared to 177,936 in the 12 months prior, representing an -8.5 per cent decrease. It's the lowest number of dwellings approved on a financial year basis since 2011/12.

Dwelling approvals had been trending upwards, marginally, in the two months prior to the latest release.&nbsp;

The result came in below consensus expectations of a milder -2 per cent fall although that mainly reflected a sharp drop in the volatile units component.&nbsp;

Approvals for private sector dwellings excluding houses (townhouses, apartments and terrace houses) fell by -19.7 per cent in June, reaching the second-lowest monthly level recorded since January 2012.&nbsp;

<h2>Dwelling Approvals by Building Type</h2>

<img alt="Dwelling" data-entity-type="file" data-entity-uuid="c43443ec-8b14-4237-a7e3-5e8609378858" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-07-31%20at%2011.48.09%E2%80%AFAM.png?VersionId=820tT7ActWtlQU34Jy7WZAgGs20h8oGu" />

“These building approval numbers are an alarm bell that this housing crisis could rapidly escalate into a political crisis if further action isn’t taken,” said Stuart Ayres, CEO,&nbsp;UDIA&nbsp;NSW.

“Every month of underwhelming data requires another future month of increased approvals for us to have any hope of recovery. We do not want to see these housing targets drift into the realm of impossibility."

The Property Council of Australia said the decline in approvals is another clear sign of the challenges ahead to the national housing targets.&nbsp;

<a data-entity-type="file" data-entity-uuid="ee9bdceb-a292-4e98-89b8-fefb5aa36ada" href="https://www.urban.com.au/developments/sydney-nsw"><img alt="Search New Property Across Sydney" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-02%20at%202.37.15%20pm.png?VersionId=2647mseF7WdBlu_6UdgG_43IFQI8Ypg1" /></a>

Property Council Group Executive Policy and Advocacy Matthew Kandelaars said the figures continue to paint a challenging picture for reaching our 1.2 million new homes by 2029 target.&nbsp;

“That our dwelling approval numbers have hit the lowest number on a financial year basis in &nbsp;over a decade is a clear sign of the challenges we face in delivering the homes Australians need,” Kandelaars said.&nbsp;

“If we don't accelerate our efforts, we will fall far short of what should be an attainable target.&nbsp;Governments nationwide must use every available measure to help industry deliver the desperately needed supply of new homes.&nbsp;

“We need an invigorated focus on supply-inducing last-mile infrastructure, more construction labour and we need to ensure that first-home buyers are given a better chance of accessing credit for housing.&nbsp;

“To achieve our goal of 1.2 million homes, we need to adopt a proactive mindset and pull every lever available to unlock more supply – including new homes for students, renters and retirees."

“These building approval numbers are an alarm bell that this housing crisis could rapidly escalate into a political crisis if further action isn’t taken,” said Stuart Ayres, CEO, UDIA NSW

Dwelling approval drop highlights urgent need for interest rate drop or incentive for developers to build

A reacceleration in the quarterly pace of growth for national construction costs is suggested to be a return to trend rather than a new surge, according to CoreLogic.

The&nbsp;Cordell Construction Cost Index (CCCI), which tracks the cost to build a typical new dwelling, recorded a growth rate of 0.8% over the three months to December. This marks a reversal of the easing trend seen over the previous four quarters when the quarterly CCCI reading went from 4.7% in Q3 2022 to 0.5% in Q3 2023. The annual growth rate for the 2023 calendar year was 2.9%.

CoreLogic Economist Kaytlin Ezzy&nbsp;said although the quarterly CCCI reading has risen, the latest growth rate remains 20 basis points below the pre-COVID decade average of 1.0%.

"This suggests that reacceleration is more a return to trend rather than a new surge in construction costs," Ezzy said.

"While up over the quarter, the annual change in residential construction costs continued to ease as larger quarterly increases fell out of the annual calculation."

At 2.9%, the latest 12-month increase was the smallest annual rise in the national CCCI since the year to March 2007 (2.7%) and below the pre-COVID decade average (4.0%).

"This suggests that growth in construction costs have normalised after recording a recent peak of 11.9% over the 12 months to December 2022, albeit at a higher level. Although 26.6% higher than at the onset of the pandemic, the recent surge in CCCI is below the increases seen across national house values, with CoreLogic's Home Value Index rising 36.5% over the same period," Ezzy added.

CoreLogic Construction Cost Estimation Manager John Bennett&nbsp;said pricing remains generally unsettled, with no clear trend seen across most product types.

"Depending on the supplier, both increases and decreases were recorded in timber and metal prices, although we have seen rises in the price of hardware and chemical items. This tells me suppliers are either bringing their product pricing back down to acceptable levels from the increases during the Covid period, or they are increasing to set up for the year ahead," Mr Bennett said.

"In 2023 there was a bit of uncertainty around what the fallout from the interest rate increases would be and therefore the overall impact on the building industry. While the latest figures show the market has settled down, I don't think we have seen the slowdown many were expecting.

"While dwelling approvals are still well below historic averages, there is still an elevated level of projects under construction which is keeping cost pressures high," he added.

Price rises were also varied across the states, with an increased growth rate seen in NSW, Victoria and WA, while SA and Queensland both saw a reduction in quarterly CCCI growth.

<h2>CCCI Outlook</h2>

Ezzy said the outlook for construction costs over the coming year is uncertain.

"While it's unlikely we'll see any declines in construction costs, the pace of growth could be influenced by several factors. Although national dwelling approvals have risen from a recent low of 12,185 in January, the latest data from the ABS showed that dwelling approvals remained -15.8% below the decade average in November at around 14,500. Although a number of projects are still moving through the construction pipeline, the recent lull in approvals could result in a shortfall in new projects, which would help keep growth in building costs low, due to greater capacity in the construction sector.

"However, with the CPI continuing to ease, it's looking increasingly like we'll see a cash rate cut in the second half of 2024, which could fuel housing demand for both established and new dwellings. Regardless, the normalisation in CCCI growth will help provide some certainly for builders, insurance companies and homeowners alike," she said.

<h2>Key findings by state – Q4 2023 CCCI Report</h2>

<ul>
	<li>The CCCI for NSW rose 1.0%, up 40 basis points on the previous quarter but only 10 basis points above the pre-COVID decade average of 0.9%. The annual reading eased to 3.1%, the lowest annual change since the 12 months to March 2021.</li>
	<li>Victoria’s CCCI rose 1.1% over the quarter, up from 0.3% in the September quarter, making it the fastest acceleration in construction costs among the states. The annual increase continued to ease to 2.9%, down from a recent high of 13.0% over 2022 and is Victoria's lowest annual change since the 2016 calendar year (2.6%).</li>
	<li>Queensland recorded the lowest quarterly rise at just 0.1%, down from 0.8% in Q3, bucking the acceleration trend. This is the state's lowest quarterly result since Q1 2001 when CCCI fell -0.1%. The December quarter's weaker growth helped bring Queensland's annual growth rate back in line with the other states at 2.8%.</li>
	<li>In WA, construction costs rose 0.7% over the quarter, up 50 basis points on Q3. Annually, WA's CCCI increased by 2.3%, which was the lowest annual rate among the states.</li>
	<li>SA’s CCCI Increased by 0.5%, down from 0.6% in Q3, also bucking the national trend. This took SA's annual change in construction costs to 2.8%.</li>
</ul>

CoreLogic researches and reports on materials and labour costs which flows through to its Cordell construction solutions to help businesses make better decisions, estimate rebuild and insurance quotes easily and, ultimately, price risk effectively.

Construction cost growth returns to normal trends: CoreLogic

Developments across Australia are getting greener.

In the financial year 2022-23,&nbsp;Green Star certifications increased by more than 80 per cent, the Green Building Council of Australia (GBCA) has announced.

Over 800 certifications were issued across Australia, showing sustainability is on the rise.

Jorge Chapa, Chief Impact Officer at GBCA, said the&nbsp;2022–23 financial year saw GBCA issue more than 840 Green Star certifications – the highest number since the inception of Green Star,” Chapa said.

“This year we saw an unprecedented number of certifications across a range of projects from universities to the interiors of retail stores, and from industrial precincts to sporting arenas hosting the Women’s FIFA World cup here in Australia.”

Now over 80,000 people live in Green Star rated apartment buildings, while over&nbsp;890,000 people will live or work in the 70 Green Star-certified communities, including more than 510,000 residents and 380,000 workers and students.

<img alt="Greenstar" data-entity-type="file" data-entity-uuid="13ef9712-efd0-4f4e-9f85-5cd2f77af118" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-21%20at%209.28.27%20am.png?VersionId=obKIKRQJvp3IoZmEuXlVvRZiVyf0UdvA" />

There's an upcoming release of Green Star Fitouts which will help drive&nbsp;circular, healthy, responsible and positive outcomes in commercial space, while a tailored pathway for apartment buildings within Green Star Buildings is also under development.

Chapa emphasised the importance of the relationship between Green Star, industry, and the community.

“2023 was the year of game changers, milestones, and growth for the GBCA, but also for industry who responded to the calls for a more sustainable, resilient, and healthy built environment.”

<a href="https://www.urban.com.au/developers/sekisui-house-australia">Sekisui House Australia's</a> West Village precinct in <a href="/new-apartments/west-end-qld-4101">West End</a> is a 6-Star Green Star Community. Their apartments feature tinted windows to reduce heat gain and energy bills, rainwater tanks to create a greywater recycling system, and a&nbsp;21kW solar PV system to generate renewable entry in the communal areas.

[smartcode_project:default project_id=114215 project_image_fid=204851]

AVJennings are pursuing a&nbsp;5-Star Green Star Community rating, as well as a 7-Star natHERS Rating, at their new <a href="/new-apartments/brunswick-west-vic-3055">Brunswick West development</a>, <a href="/buildings/harvest-square-apartments-and-townhomes">Harvest Square</a>.

The walkable community&nbsp;is fully electric, and features an 18-metre-wide green corridor with productive plantings for the enjoyment of all residents.

Over 800 certifications were issued across Australia, showing sustainability is on the rise

Apartment developments getting more sustainable: Green Building Council of Australia

A sharp slowdown in the pace of construction cost growth may be an early sign that pressures are stabilising within the building sector.

CoreLogic’s Cordell Construction Cost Index (CCCI), which tracks the cost to build a typical new dwelling, returned a quarterly growth rate of 0.5 per cent for the September quarter, the smallest lift since the three months to June 2019 and half the pre-COVID decade average of one per cent per quarter.

This took the annual growth in the index to 4.0 per cent, below the recent quarterly peak of 4.7% this time last year.

CoreLogic Head of Australian Research Eliza Owen said while construction costs are still very elevated, the ongoing level of increase has normalised.

“This is the fourth consecutive slowdown in the quarterly pace of growth for residential construction costs,” Owen said.

“The slowdown in new dwelling approvals also points to mixed news for the construction industry next year. On the one hand, this will free up capacity for material and labour resources, but it will also mean greater competition for new jobs.”

The recent slowdown in the growth rate of construction costs is broadly in line with the new dwellings cost sub-component of the ABS CPI figures.

The ABS CPI sub-index saw a peak in the March 2022 quarter at 5.7 per cent, and has since slowed to just one per cent through the June quarter of 2023.

"The cost of new owner occupier dwelling purchases comprises the largest weighting in the CPI ‘basket’, so the continual easing in the CCCI may also be a forward indicator of inflationary pressures easing within the building sector,” Owen added.

Apartment developers have seen costs soar over the last few years since the pandemic, making their projects unfeasible. While costs are still considerably higher than they were two years ago, the big difference is they're not going up every month like they were in 2021 and 2022.

CoreLogic Construction Cost Estimation Manager John Bennett said cost pressures in construction are shifting from an issue of materials, to labour.

“While material costs appear to have stabilised in general, labour costs have had a number of new pressures applied,” Bennett said.

“Award rates have increased more than five per cent across the construction industry, coming in higher than previous years."

&nbsp;

<h1>Key findings by state – Q3 2023 CCCI Report</h1>

- The CCCI for New South Wales rose 0.6% over the three months to September 2023, steady on the previous quarter but down from a recent high of 4.0% Q3 last year. The annual increase also sank to 3.9% from 7.3% in the three months to June 2023.

- Victoria’s CCCI recorded a 0.3% increase in construction costs over the September quarter, down from 0.7% in the three months to June and the largest deceleration in construction costs over the quarter. Annually costs increased 3.7%, from a peak of 13.0% in the calendar year of 2022.

- Queensland saw construction costs rise by 0.8% over the quarter, the highest quarterly increase 
at a state level and 10 basis points up on Q2 2023. On an annual basis, costs increased 4.8%.

- In Western Australia, construction costs rose 0.2% over the quarter, the lowest quarterly growth rate of all states. The quarterly pace of change is down from a recent high of 4.3% in the September quarter of 2021, and is running below the pre-COVID decade average rate of 1.0%.

- South Australia's increase in construction costs was 0.6% for the quarter, the smallest increase in the CCCI since the Q3 2020, when the effects of material constraints and a surge in demand from HomeBuilder were yet to be fully felt in the residential construction space. The annual increase plummeted to 4.1% from a recent high of 10.5% in the 2022 calendar year.

CoreLogic Head of Australian Research Eliza Owen said while construction costs are still very elevated, the ongoing level of increase has normalised

Construction costs ease prompting apartment developers to look forward

As awareness around environmental sustainability and outcomes grows, the Australian construction industry is increasingly transitioning towards adopting more sustainable construction methods and green building practices.

The need to create modern structures that harmonise with the environment, while also saving costs and inefficiencies, reducing waste, minimising energy consumption, and enhancing human wellbeing is driving this change.

Bart Crowther, Regional Lead for Australia and New Zealand, PlanRadar, says green buildings present an alternative to traditional construction methods that, by design, helps reduce the negative environmental impacts of construction and building operation.

"The construction industry has significant influence on the environment, and pivoting towards more sustainable development, including prioritising net zero construction, is crucial to protecting our resources," Crowther said.

Net zero construction is a term applied to buildings and construction projects that have no net release of greenhouse gases during their lifecycle. Sustainable construction practices—such as using sustainable materials and prioritising energy efficiency and renewable energy sources—allow building projects reduce their ongoing construction and operational costs. Primarily, this creates more efficient buildings that incur lower energy and utility bills due to reduced water consumption and waste generation.

Importantly, net zero construction delivers buildings with reduced environmental impacts, substantial cost savings, improved indoor environments for occupants, and wider social and community benefits. Their growth is a testament to their viability and the expanding consciousness of their significance.

While net zero buildings and sustainable construction are not a new concept, there are three notable trends that are driving increased interest and adoption:

<h1>Sustainable materials</h1>

Renewable or recycled resources, such as bamboo, wool, or cork, are replacing traditional building materials, reducing environmental impact and fostering long-term sustainability. These materials offer durability, require less maintenance, and have a smaller environmental footprint, making them a smart and sustainable choice.&nbsp; They also contribute to improved indoor air quality by reducing harmful chemicals, creating a healthier living and working environment.

<h1>Green roofs</h1>

Partially or entirely covering a roof with vegetation creates a green roof, which absorbs rainwater, slows stormwater runoff, improves water and energy efficiency, and extends the lifespan of a roof. Additionally, their ability to cool the air helps to reduce the urban heat island effect (an urban area that experiences warmer temperatures than surrounding areas due to human activities and population density), decreasing energy usage and greenhouse gas emissions. They also provide a haven for birds and other wildlife, enhancing local biodiversity.

<h1>Passive design</h1>

Passive design uses natural sources like sun and wind to minimise heat gain and loss, making the building more energy efficient. Designs can match a building to its local climate and maintain comfortable indoor temperatures without additional heating or cooling to save energy and reduce costs. This reduces a building's energy consumption and overall environmental impact while also contributing to healthier indoor air quality and a comfortable living or working space.

“The construction industry stands at the forefront of environmental sustainability, embracing new trends to decrease carbon footprints, increase energy efficiency, and make a positive impact on the environment," Crowther added.

"The evolution of green buildings is a testament to the sector's adaptability and commitment to securing a sustainable future for coming generations.

“These innovative trends in green building are influencing traditional construction methodologies and setting the tone for the industry's future. By embracing net-zero buildings, sustainable materials, green roofs, and passive design, the Australian construction industry can move towards a future where structures are not only built to last, but also to positively impact the environment and the communities they serve.”

Bart Crowther, Regional Lead for Australia and New Zealand, PlanRadar, says green buildings present an alternative to traditional construction methods that, by design, helps reduce the negative environmental impacts of construction and building operation

Three green building trends propelling the construction industry

Residential cranes across Australia's capitals and major cities are still at near peak levels,&nbsp;Rider Levett Bucknell (RLB's) Q1 2023 Crane Index found.

The residential index representing the number of cranes on residential projects across the country has eased off very slightly from 172 index points to 171 index points. The results are similar to those recorded in the 2015-2017 property boom.

Over the last six months, 292 new cranes were added to new development sites, but 300 were removed from projects nearing completion. There are 835 cranes up across the country, a 3.8 per cent decrease from the 868 cranes in RLB's last edition of the report. The 835 cranes in the Q1 2023 report is still the second highest number of cranes seen since the inception of the RLB Crane Index in 2012.

<img alt="RLB Crane Index" data-entity-type="file" data-entity-uuid="f73284eb-c266-4b5d-9663-32255f086672" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-04-11%20at%2010.17.24%20am.png?VersionId=GiuC9xZZuTCaDW1zSSI5DYMyGPEqszPQ" />The number of cranes across Australia. Image credit: RLB Crane Index Q1 2023

Domenic Schiafone, RLB’s Oceania Director of Research and Development said the continuing strong number of cranes observed correlates with the strong national activity numbers.

<h2>Large fall in crane numbers in Melbourne CBD, but residential cranes holds firm</h2>

Melbourne recorded a fall of eight per cent in the Q1 2023 RLB Crane Index.

Across Melbourne, a total of 84 new cranes were added to projects, and 101 cranes removed, representing a net loss of 17 cranes across the region, bringing the current number of cranes to 189, down from 206 recorded in the previous edition.

[smartcode_project:default project_id=4522 project_image_fid=208465]

There were two less cranes for residential projects across Melbourne compared to the Q3 2022 Crane Index. Approval values grew over the 2022 calendar year, up 1.5 per cent.

"The apartments sub-sector saw total approvals grow by 42.8 per cent to $6.1 billion, although still below CY 2017 peaks,"&nbsp;Schiafone noted in the report.

[smartcode_project:default project_id=27728 project_image_fid=173913]

The report found that inner-city remains the region with the highest prevalence of cranes, accounting for 44 per cent of all of Melbourne’s cranes.

Residential cranes in Melbourne account for 53 per cent of crane activity.

To read more about Melbourne crane activity, click here.

<h2>Sydney still the main driver of crane count, but residential tapers off</h2>

Sydney continues to be the main driver of the crane count. Of the 836 cranes sighted across Australia, 365 were in Sydney.

But the residential pipeline in Sydney is shrinking. Approvals for houses were up 2.3 per ent, but apartment approvals were down by 23.1 per cent.

[smartcode_project:default project_id=108896 project_image_fid=180669]

The residential sector saw a total of 78 cranes removed and 65 new cranes added, bringing the overall number of cranes in the sector down to 246 cranes.

Inner Sydney (CBD &amp; Surrounds) saw the addition of only 18 cranes, against the removal of 27 cranes. This brings the total number of cranes down to 89 cranes. Losses were almost entirely attributed to the residential sector, which recorded a net decrease of 13 cranes.

[smartcode_project:default project_id=9302 project_image_fid=188219]

Sydney's crane activity is still the second highest on record.

To read more about Sydney's crane activity, click here.

<h2>South East Queensland reaches a new high</h2>

The crane count in Brisbane declined slightly during Q1 2023, down by five cranes from 35 to 30.

The residential sector continues to be the largest in Brisbane, accounting for 39 per cent of all cranes (30 of 77 cranes), slightly lower than the 43 per cent share recorded in the previous count.

Schiafone says it is interesting to note that that the current 39 percent share that the residential sector maintains in Brisbane is significantly lower than both Melbourne and Sydney, where residential cranes account for 53 per cent and 67 per cent of each city respectively.

[smartcode_project:default project_id=112020 project_image_fid=198798]

While Brisbane recorded a net loss in overall crane numbers, the Sunshine Coast and Gold Coast have performed stronger, bringing the total number of cranes across South East Queensland to a new high of 153 cranes.

Queensland should see a strong pipeline of activity over the next few years, with approval values for 2022 growing 6.2 per cent compared to 2021.

To read more about the South East Queensland crane activity, click here.

Over the last six months, 292 new cranes were added to new development sites, but 300 were removed from projects nearing completion

Residential crane count across Australia still near peak: RLB Crane Index Q1 2023

Homophobia, bullying and harassment continues in the construction industry despite improving attitudes towards LGBTQ+ employees, according to new research from the Australian Human Rights Institute at UNSW released Tuesday.

The report, which looked into the experiences of LGBTQ+ people working in construction and the effectiveness of current diversity and inclusion strategies, was undertaken in conjunction with InterBuild&rsquo;s People Engagement working group and sponsored by the Lendlease Foundation.

Researchers Dr Natalie Galea and Dr Melissa Jardine found that while LGBTQ+ inclusion has improved, there is a &ldquo;significant variation across the industry&rdquo; and many people still don&rsquo;t feel safe bringing their authentic selves to work.

<img alt="" height="667" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shutterstock_1396952330.jpg" width="1000" />

Participants in the study ranged from tradespeople to senior executives of multinational companies, and gave detailed accounts about coming out at work, the experience of transitioning gender in the workplace, and the effectiveness of existing diversity and inclusion strategies.

Another study published by <a href="https://www.pwc.com.au/publications/pdf/pwc-workplace-inclusion-report-sep17.pdf" target="_blank">PwC&rsquo;s GLEE team</a> showed that homophobia was more present within the construction industry than on average.

75 per cent of respondents from the construction sector, Australia&rsquo;s most male-dominated industry and the third-largest national employer, indicated&nbsp;they had observed homophobia, compared to 56 per cent in other sectors.&nbsp;

[smartcode_project:default project_id=3459 project_image_fid=147569]

Lead author of the UNSW report Dr Galea said that while most participants felt there was a positive trajectory in workplace attitudes, many noted the sector was coming off a very low base.

&ldquo;The research found it was particularly challenging for those in junior positions, apprentices and FIFO workers to navigate the construction sector as an LGBTQ+ worker due to a lack of power and a desire to &lsquo;fit in&rsquo; to avoid anticipated negative responses,&rdquo; Dr Galea said.

One of the participants, who is in their 40s and identifies as queer, said: &ldquo;I&rsquo;m going to wait until I finish my apprenticeship and get a permanent position [before being more open about my identity] even though my role is considered permanent... I feel like I need people to see that I do a good job and I&rsquo;m an okay person.&rdquo;

<img alt="" height="423" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lgbtq_construction_thumb_0.jpeg" width="740" />

Co-author Dr Jardine said the research found that industry leaders often lacked awareness of inclusive LGBT+ practices and in some cases failed to act on homophobic or discriminatory behaviours.

&ldquo;Despite many examples of good leadership, participants expressed frustration that some leaders turned a blind eye and failed to act or challenge homophobic behaviour and attitudes, especially from &lsquo;old school&rsquo; men,&rdquo; Dr Jardine said.

The report, which included recommendations for government and businesses, noted that this&nbsp;risks entrenching current behaviours and may lead to the loss of new talent.

Other recommendations to recalibrate industry behaviours and value the engagement of all workers included sexism, homophobia and transphobia education, publicly available inclusion policies, and a mental health service for LGBTQ+ tradies with qualified counsellors who understand the construction sector.

The full report, titled Building an LGBTQ+ inclusive workplace: A blueprint for Australia&rsquo;s construction industry is available to read <a href="https://www.humanrights.unsw.edu.au/research/lgbtq-workers-australian-construction-sector" target="_blank">here</a>.

Australian Human Rights Institute at UNSW released a new report, 'Building an LGBTQ+ inclusive workplace: A blueprint for Australia’s construction industry', on Tuesday

max.kwok_55688

New UNSW research reveals barriers to LGBTQ+ inclusion in the construction industry

Wattblock, a group of independent strata sustainability specialists that partner with eight local councils on sustainability programmes, has released a list of the top 40 eco apartment buildings in Sydney.

The list, which features properties from Edmondson Park to Little Bay, highlight the apartments that are committed to sustainability and renewable energy.

Wattblock&nbsp;chief executive Brent Clark begun the list in response to a growing interest in sustainability from players in the property industry.

&ldquo;In the last couple of years, we have been contacted by individuals looking to buy apartments in green buildings in Sydney [and] developers who want to create differentiation for their new apartment block when selling green developments off the plan,&rdquo; he said.

This year, an apartment building had to possess at least a 16kW solar PV system to make the cut.

[smartcode_project:default project_id=5995 project_image_fid=78735]

Frasers Property&rsquo;s Ed.Square in Edmondson Park topped the list, thanks to its 2.5MW solar system, embedded network and geothermal air-conditioning, amongst other great features.

The new net-zero energy demand development is set to produce more energy than it consumes, with entry prices for the development as low as $490,000.

According to Clark, the choice to create an eco-apartment block is now often the most cost-effective, in addition to its carbon footprint reducing benefits.

&ldquo;The reduction in the cost of environmental technology, things like solar panels, heat pumps, EV charge points has made these technologies economically viable&rdquo;, he said.

[smartcode_project:default project_id=6219 project_image_fid=24577]

Also featured high up in the list was Meadowbank&rsquo;s Genesis project, by Sasco Developments.

The 58-residence apartment features 30kW solar, an embedded network, a UV warm water system, a green roof and solar-powered EV charging.

Clark commented on the importance of solar panels, and EV carshare for the exclusive use of apartment dwellers.

[smartcode_project:default project_id=4124 project_image_fid=90886]

Cedar Woods&rsquo; Melbourne project,&nbsp;Aster apartments at the Jackson Green masterplan, recently&nbsp;announced their <a href="/news/vic/tesla-carshare-coming-to-residents-at-clayton-south-s-aster-apartments">collaboration with Ohmie Go to bring a Tesla Model 3 to its Clayton South project</a>.

Although this is unsurprising as Melbourne has always been&nbsp;the first to make the shift towards more eco-conscious home buying, Wattblock said. Developments like Nightingale set the&nbsp;new benchmark for all of Australia.

&ldquo;Sydney is now playing catchup&rdquo;, Clarke added. &ldquo;There is a niche for those who will take the eco-credentials of an apartment building into consideration, particularly for the early adopters of electric vehicles.&rdquo;

[smartcode_project:default project_id=6798 project_image_fid=140946]

Another feature that homebuyers should look out for when seeking an eco apartment is the green roof and barbeque area.

&ldquo;[This] is a great addition to the community, particularly if it uses wi-fi connected smart irrigation and dynamically adjusts the watering schedule based upon local weather station data.

&ldquo;We are also starting to see things like smart monitoring touchscreens being installed into each apartment&rdquo;, said Clark.

<blockquote>
&ldquo;We have had a decade of education about sustainability now, so now is the time for action.&rdquo;
</blockquote>

Wattblock has been providing advice to over 1,000 strata apartment buildings on the eastern seaboard over the past seven years on how to retrofit their buildings.

[smartcode_project:default project_id=30049 project_image_fid=162884]

You can <a href="https://www.wattblock.com/buying-an-eco-apartment-in-sydney?utm_source=urban">read the full list of 40 apartments with each residences&rsquo; eco-friendly features on Wattblock</a> or scroll below for the top 20, as determined by Wattblock CEO Brent Clark.

1. Ed.Square, Edmondson Park 
2. Central Park, Chippendale 
3. Genesis, Meadowbank 
4. Generation W, Neutral Bay 
5. Goldsbrough Apartments, Ultimo

6. Quay Grand, Sydney 
7. The Orchards Norwest, Kellyville 
8. Fleetview Apartments, Pyrmont 
9. Revolution Apartments, Marrickville 
10. Rina Apartments, Mascot

11. Zinc, Alexandria 
12. Mindarie St Units, Lane Cove 
13. The Burcham, Rosebery 
14. Avanti Apartments, Hornsby 
15. Aria Apartments, Waterloo

16. Regency, Chatswood 
17. 8 John Tipping Grove, Penrith 
18. 20 Newtown St, Alexandria 
19. The Regency, Epping 
20. Bay Gardens, Maroubra

Wattblock CEO Brent Clark reveals a list of the top 40 eco apartment buildings in Sydney and discusses sustainability

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