Boutique luxury apartments in high demand

Karen Dellow
Karen Dellow

Demand for properties for sale was unseasonably high in July, but enquiries for new developments in particular have increased significantly.

Total enquiries for all properties were up 8% year-on-year, but new developments were most in-demand with a 16% increase on last year.

Enquiries for apartment projects in Inner Melbourne were the highest in the country, primarily because this is where most new developments are situated.

Melbourne has 34% of all current projects, with the majority in the inner city.

Walmer in Abbotsford in Melbourne's east overlooks the Yarra River. Source:

Enquiries were second highest on the Gold Coast, home to 9% of current apartment development listings.

Most of the Gold Coast apartment developments are in Surfers Paradise, which has more individual projects than any other suburb in Australia.

Regions with the highest enquiries for new apartment developments in July 2023

Rank Region
1 Melbourne - Inner
2 Gold Coast
3 Melbourne - Inner South
4 Sydney - North Sydney and Hornsby
5 Sydney - City and Inner South
6 Brisbane Inner City
7 Melbourne - Inner East
8 Sydney - Parramatta
9 Sydney - Inner West
10 Sydney - Baulkham Hills and Hawkesbury

But it is the Adelaide - Central and Hills region which has the most enquiries per development.

New developments are at their lowest in this region of Australia, so there are more property seekers for fewer listings.

Vista, in Surfers Paradise is footsteps from the beach. Source:

House and land developments were also in high demand in July.

These developments are primarily situated in the outer regions of the cities, as this is where the most undeveloped land can be found.

Demand for house and land developments was highest in the Sydney - Baulkham Hills and Hawkesbury region of New South Wales, with 9% of enquiries for projects in this area.

Regions with the highest enquiries for house and land developments in July 2023

Rank Region
1 Sydney - Baulkham Hills and Hawkesbury
2 Logan - Beaudesert
3 Ipswich
4 Melbourne - South East
5 Melbourne - West
6 Sydney - Outer South West
7 Sydney - South West
8 Adelaide - Central and Hills
9 Adelaide - North
10 Moreton Bay - North

This region has experienced considerable developments in the past five-plus years, especially in the suburbs of Schofields, Kellyville, and Rouse Hill. Development has moved out to Box Hill, which has 12 projects on and the highest enquiries in July.

In Brisbane, house and land developments are at their highest in Ipswich and Logan Beaudesert, and in Melbourne, it is in the South East and West.

Artist's impression of the master planned community at Menangle Park, NSW. Source:

Adelaide has the highest number of enquiries per listing, with the developments in the south of the city racking up an average of 63 enquiries per house and land listing.

Once again, Adelaide's top spot is mainly due to the small number of available listings compared to the number of property seekers interested.

New developments in Adelaide, like the Woodville Rd townhouses in St Clair, have the highest number of enquiries per listing. Source:

The development of new properties has slowed over the past few years for a number of reasons.

The pandemic caused supply chain issues, increasing the price of essential building materials, which increased building costs. Labour shortages have also been a growing problem.

The frequent shutdown of construction sites due to COVID outbreaks stalled work and slowed down completions.

As a result, the higher cost of new properties led to decreased demand, compared to its peak in September 2021, when the HomeBuilder grant drove many property seekers to build houses to take advantage of the government subsidy.

The combination of labour shortages and increasing prices has led to a backlog of work impacting the approval and commencement of future developments.

The high cost of building materials and labour is starting to ease, providing some relief for developers.

Top apartment listings

Boutique luxury apartments with rooftop swimming pools, gyms, and wine rooms were in high demand on last month, with new developments in Brisbane garnering the most attention.

Elysian Residences in Sherwood QLD, was the most enquired about apartment development. Source:

Elysian Residences in Sherwood in Brisbane, racked up the most enquiries in July, and it is not surprising considering the features and amenities on offer.

With beautiful views in all directions, the residents can take advantage of a rooftop pool with a BBQ and al fresco dining.

Top 10 apartment development with the most enquiries in July 2023

Rank Property Name Suburb and State
1 Elysian Residences Sherwood QLD
2 Murcia Residences Woolloongabba QLD
3 Walmer Abbotsford VIC
4 Oaklands Green Oaklands Park SA
5 One The Esplanade Cotton Tree Cotton Tree QLD
6 ARENA Lane Cove NSW
7 ALBA Zetland NSW
8 Greville Wooloowin Wooloowin QLD
9 225 Burke Road Glen Iris VIC
10 Archibald by ALAND Gosford NSW

Riverfront development Walmer in Abbotsford in Inner Melbourne was number three for most enquiries in July.

Top house and land developments

The most enquired-about house and land development in July was Aspire Rosemeadow, in Sydney's Outer South West.

Top 10 apartment development with the most enquiries in July 2023

Rank Property Name Suburb and State
1 Aspire Rosemeadow Rosemeadow NSW
2 Signature on Nelson Box Hill NSW
3 Tillerman Park Ridge QLD
4 Edmondson Park Estate Edmondson Park NSW
5 Menangle Park Menangle Park NSW
6 Tonsley Village Tonsley SA
7 Signature At Kellyville Kellyville NSW
8  Signature on Terry Box Hill NSW
9 Crown Hill Riverstone NSW
10 Rossdale Homes Mount Barker SA

The west and southwest of Sydney have been experiencing significant development in recent years, all close to the Western Sydney International Airport, due to open in 2026. The majority of most in-demand projects in the top 10 list are situated in this region.

Demand for new developments is still far from the heights experienced in 2021. However, it is a positive sign for the industry that interest is increasing as construction costs level out.

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