Melbourne’s building boom is about to deliver for buyers with dozens of apartment buildings and townhouse communities ready to welcome residents in mere months.

Buying a brand-new home is often associated with a protracted wait while the development is under construction. But that doesn’t have to be the case. 

In Victoria, the state that is closer than any other to meeting its home-building targets, there are scores of new communities that are nearly finished and due for completion by the end of the year.

That means that buyers could be living in a new apartment with spectacular views of inner-city Melbourne, lush parklands, iconic tourist destinations, or beloved local landmarks by Christmas. 

The following apartments and townhouses located across Victoria’s capital are well underway, with expected completion dates by the end of 2025 – which is essentially the timeframe a buyer would be looking at if currently hunting in the existing market.

So forget making someone else’s home your own. These brand-new builds are waiting for their first ever residents – and as a bonus, buyers also qualify for Victoria’s stamp duty savings scheme on new constructions. 

Merri Northcote 
20 Walker Street, Northcote, Vic 3070 
Estimated Completion: July 2025 

These 5-Star Green Star homes in Melbourne’s north make sustainability and energy efficiency their priority. With rooftop solar, double glazing, passive solar design, LED lighting and electric heat pump hot water systems, buyers can be assured these homes are as future-proof as possible. 

Their green credentials extend outward as well, offering residents views of Merri Creek and surrounding bushland, providing a perfect view to help unwind.

Irving Domain 
21 – 23 Irving Avenue, Box Hill, Vic 3128 
Estimated Completion: July 2025 

With Box Hill Gardens on its doorstep, this complex of just over 100 apartments makes the most of its surrounding green space. Views of the large urban garden can be enjoyed not only from generous private balconies but also from a shared rooftop sanctuary. 

With one- two- and three-bedroom homes available, Irving Domain offers a retreat from the city’s hustle and bustle with great connectivity, located right near Box Hill train station. 

333 STK 
333 St Kilda Road, St Kilda, Vic 3182 
Estimated Completion: September 2025 

Designed for physical and mental well-being with a gym, private dining, media room, meeting room, outdoor BBQ and a library, these St Kilda homes provide a rare chance to live in a luxury new build in one of the Melbourne’s most beloved neighbourhoods. 

With flexible layouts available across these one- two- and three-bedroom apartments, there’s lots to appeal to families, singles, remote workers, retirees and CBD commuters alike.  

Loller St 
1A Loller Street, Brighton, Vic 3186 
Estimated completion: September 2025 

With only six homes available, this exclusive new development makes the most of the materials that have been carefully selected. From the Krause Brickwork that wraps around each home’s fireplace to the Taj Mahal Quartzite throughout the kitchens and ensuites, these details have been expertly integrated into the elegant, modern design on display. 

Each apartment is designed to make the most of natural light, and there are bright two-, three- and four-bedroom homes available to choose from.

Kindred 
25 Brindisi Street, Mentone, Vic 3194 
Estimated completion: September 2025 

In this collection of bayside homes, there’s almost too much to list that’s within walking distance. Local shops, supermarkets, cafes,  private and public schools, parks, train station, and of course Mentone Beach are right on the doorstep of this new block featuring 10 townhomes. 

Clyde Street 
2 Clyde Street, Kew, Vic 3101 
Estimated completion: September 2025 

The townhomes and apartments available in Clyde Street are designed with a modern approach to multi-dwelling construction, recognising that residents of higher-density dwellings don’t necessarily want to compromise on space.  

Each home here features two living spaces plus a separate study and laundry, individual entrances and flexible floorplans to suit modern lifestyles. 

The Muse Melbourne 
409 St Kilda Road, Melbourne, Vic 3004 
Estimated completion: October 2025 

The 40 luxury residences of Muse cater to those seeking a home with all the amenities one might expect from a hotel. With 24-hour concierge service and a resident wellness facility (featuring multiple pools, a spa, gym, sauna and steam room), there are a lot of good reasons to stay home at The Muse. Of course, living this close to the city, there are also plenty of reasons to go out. 

Linacre Rise 
8-10 Linacre Road, Hampton, Vic 3188 
Estimated completion: November 2025 

Live moments from the beach, park and village life of Hampton in this development of 27 new homes that embrace indoor-outdoor entertaining.

Located at the highest point on Linacre Road, this enviable location in Melbourne’s bayside brings both light and incredible views into each of these apartments. 

Elements 
Felicia Rd, Williamstown, Vic 3016 
Estimated completion: November 2025 

The 67 townhomes in this development from CasUrban each offer private rooftop terraces with select views of Melbourne CBD, Port Phillip Bay, and Williamstown, giving residents the best of both worlds from these three- and four-bedroom retreats.  
 
The first residents have already moved into this new community, with the final stage set to complete the development of family-sized homes. 

Cascade Apartments 
222 Burke Rd, Glen Iris, Vic 3146 
Estimated completion: November 2025 

The wave-style facade at Cascade Apartments in Glen Iris is the first hint that the apartments that lie beyond aim to be a haven for residents. The boutique collection of 28 homes each prioritise light as well as functionality, with vast windows, open floorplans and plenty of storage. There are two- and three-bedroom apartments on offer here. 

Prime 
66 Williams Road, Prahran, Vic 3181 
Estimate completion: Late 2025 

From Melbourne-based developer BCH property, this small collection of just six townhomes fits right in with the company’s goal of delivering family dwellings. The two- and three-bedroom homes here deliver on space and amenities, with private lock-up two-car garages and up to three bathrooms on offer in many dwellings.  

The Archer 
550 Epsom Road, Flemington, Vic 3031 
Estimated completion: Late 2025 

Diversity is the design at The Archer, with one-, two- and three-bedroom dwellings starting at $549,000 and ranging upwards of $5 million.

Cityscapes and racetrack views are also on offer here for prospective residents of the 300-dwelling-plus building, who will have a choice of three private dining rooms to choose from when entertaining, as well as access to a cinema room, residents’ lounge and bar, infinity pool and health centre. 

Port Lane 
201 Williamstown Road, Port Melbourne, Vic 3207 
Estimated completion: Late 2025 

The 122 townhomes in Port Lane, developed by ID_Land, take a relaxed, coastal theme for their design – a nod to their proximity to Port Melbourne Beach. Within an easy distance to the CBD, they are also set to be within a vital new regeneration zone as the Fishermans Bend Urban Renewal Project gets underway.  

Are you interested in exploring more new apartments and townhomes being built in Melbourne? Check out our dedicated New Homes section.

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ANALYSIS
With the NSW Budget for 2025–26 to be announced tomorrow, the government’s policy decisions on housing are already locked in. But whatever is unveiled, one thing is clear: it’s the bank of mum and dad that’s already stepping up to support first home buyers.

At Loan Market, we’ve seen guarantor-backed pre-approvals for first home buyers in NSW more than double in the past year. Around 11 per cent of these now involve a parent using their home as security, up from just 5 per cent a year ago.

It’s a clear signal: more young Australians are leaning on their families, not because they want to but because they have to.

And the challenge goes well beyond house prices. Since 2020, rent in Sydney has jumped 44 per cent, while groceries have increased by 27 per cent at the checkout and other costs, like car insurance have soared by more than 40 per cent. These are everyday pressures, not luxuries, and they’re making it even harder for people to save. At the same time, seasoned investors have returned to the market with confidence.

MORE: Refinance at the right time to save big

At Loan Market, we’ve seen a 31 per cent rise in investor loans year-on-year.

If the government is serious about helping first home buyers, the conversation can’t stop at housing supply. Stamp duty is one of the biggest upfront costs they face and it’s stopping many from even getting close.

MORE: Surprise reason you can be black-listed by a bank

Right now, full stamp duty exemptions only apply to properties under $800,000, with partial concessions up to $1 million. That might have worked once, but those numbers don’t reflect today’s reality. Sydney’s median house price sits at $1.46 million, according to PropTrack data. Even the median unit price is $820,000, already above the current threshold.

Take a couple trying to buy their first apartment at that median price. If they tip over the $800,000 limit, they could be hit with nearly $33,000 in stamp duty. That’s on top of their deposit, legal costs, and moving expenses. And if they’re hoping to buy a house in Sydney? The median puts any stamp duty support completely out of reach.

Some suggest buyers should just look further out. But for many with jobs in the city, family nearby, and deep community ties moving over 40 minutes away simply isn’t realistic or fair. More and more, we’re seeing first home buyers invest interstate instead, renting out the property while building equity. It’s a smart move in tough conditions but it’s also a sign of a broken system.

Raising the full exemption threshold to $1.5 million, closer to real-world property prices, would make a genuine difference. Buyers would still need to pass strict lender serviceability tests, including a 3 per cent buffer. But it would ease one of the biggest barriers they face.

And we can’t forget the broader picture. First home buyers keep the market moving. When they step in, others can upsize, downsize or move where they need. When they’re shut out, it slows everything down.

MORE: Where super is outperforming house price growth

Of course, not everyone has parents who can help. And even when they do, it often comes at a cost like delaying retirement, putting travel plans on hold, or shelving downsizing. That’s where great brokers make a real difference. They help structure a pathway to reduce the debt and remove the guarantor as soon as it’s viable. It’s not about cutting corners, it’s about smart, sustainable solutions.

There’s also a case for stamp duty exemptions or concessions to be given to retirees, as well. If empty nesters were encouraged to downsize from their large family homes, there would be more supply in the market for families looking to upsize. Greater supply in the market provides more choice and sustainability in prices. Stamp duty reform has been debated for years. The question now is whether tomorrow’s budget will finally shift from talk to action.

This isn’t just a policy choice. It’s an opportunity to back Australians who are doing everything right – working hard, saving hard, and leaning on family when there’s no other option. It’s time to support the parents who’ve been carrying the load, and the next generation trying to find their place in the market. It’s time to turn intent into action. Here’s hoping this budget delivers for those working hardest to get their start or for young Australians to get the same opportunities like others before them.
David McQueen is Loan Market CEO

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Compass, the largest real estate brokerage in the country by volume, has sued Zillow over its policy on private listings.

Compass filed a lawsuit in New York on Monday, alleging that Zillow is breaking federal antitrust laws by permanently banning any listing that isn’t put on an MLS within a business day of being publicly marketed.

“To protect its market dominance, Zillow has retaliated against competitive threats by enacting an exclusionary policy,” Compass argued in its lawsuit.

Zillow says its new listings policy, which is set to go into effect on June 30, is enforcing the National Association of Realtor‘s Clear Cooperation Policy and ensuring transparency in the market.

Redfin, which has taken a similar position, was named as a co-conspirator in the suit, but not a defendant.

Through its so-called “three-phase marketing plan,” Compass has challenged the status quo of real estate marketing in the U.S. The brokerage is pushing sellers to market houses exclusively through its portal, which allows them to test pricing and marketing without being subject to days on market and price cuts, which hurt sellers.

Under the three-phase marketing plan, a listing begins as an office exclusive, which is marketed in-house to Compass agents or sent privately to agents at other firms. From there, the listing moves to a “coming soon” status and appears on Compass’s website. Many MLSs nationwide allow coming-soon listings to be publicly marketed, but MLSs differ in how long a listing can remain in this stage.

If the listing fails to sell during the first two phases, it’s listed as active on the MLS. Compass’s data shows that in 2024, 94% of listings that began as private exclusives ended up on the MLS. 

Compass currently has about 7,000 private exclusives.

Rivals argue that Compass is merely trying to double-end deals to increase profits. Zillow and a host of brokerage critics say that preventing listings from hitting the public undermines progress made in creating a more transparent market for consumers.

On Saturday night, the U.S. bombed Iranian nuclear sites, sending shockwaves around the world and leading people to ask me what this means for mortgage rates. This type of global event can lead to significant market movements in oil prices, the U.S. dollar and the 10-year yield in the short term. However, this year, we’ve observed some unusual market pricing in reaction to events in the Middle East. Additionally, the mortgage market has been calmer this year compared to previous years.

Let’s dive in and see if we can make sense of what might happen next.

The backdrop: Calmer mortgage rates

First things first: mortgage rates have been very calm lately, even with last week featuring a significant amount of economic data, a Fed meeting, and both the President and the FHFA director calling for the Fed chairman to resign. With all these events last week, the bond market acted very mildly and mortgage rates didn’t move much either.

Overall, this year has generally had less volatility in rates compared to previous years. Here is the mortgage data from Freddie Mac, showing the range of the 30-year mortgage rate this year versus the past few years.

In my 2025 forecast, I anticipated the following ranges:

• Mortgage rates between 5.75% and 7.25%
• The 10-year yield fluctuates between 3.80% and 4.70%

The most significant volatility event this year was the introduction of the Godzilla tariffs, which caused the 10-year yield to drop below 4%. While I disagreed with the bond market’s reaction, it is ultimately the marketplace that dictates short-term moves. Mortgage spreads did worsen when the stock market entered a bear market, but the increase was only by 0.20 to 0.25 basis points. After President Trump talked about tariff delays, the stock market recovered quickly and we haven’t seen stocks go into a correction since that announcement.

Better mortgage spreads have helped

This year, the mortgage spreads have been more favorable compared to the previous two years, which has limited how high rates can rise since spreads typically improve when the 10-year yield increases.

Regarding the 10-year yield, my forecast range for 2025, which is 3.80%-4.70%, has been mostly correct this year. We were slightly higher than 4.70% for brief time, but as I have been stressing all year, unless the labor market is breaking and we get really bad economic data, the range of 4.35%-4.70% is perfectly acceptable given Fed policy and the Fed screaming to the market that they’re modestly restrictive. Unless the economic data worsens or the Fed starts sounding dovish, this range seems right to me since they have raised their inflation expectations for this year.

The bond market’s unusual reaction to geopolitical events

Typically, geopolitical events in the Middle East tend to favor the bond market and the U.S. dollar, resulting in lower mortgage rates. However, this year has been different. For example, when Israel began its attacks on Iran on June 13, 2025, we did not see the expected reactions in the bond market or the U.S. dollar.

Given the U.S. escalation Saturday night, it’s important to monitor Sunday night trading in the markets. (Follow my Instagram page for live updates on the U.S. dollar, oil prices and the bond market.) This latest U.S. action in the Middle East may not lead to significant market movements regarding the 10-year yield and mortgage rates unless major escalations occur in the coming weeks.

Escalation will be key

Iran has announced its intention to close the Strait of Hormuz, an action I view more as a theatrical maneuver than an immediate threat. Nonetheless, we have to monitor this situation closely, as there could be potential for escalation in the coming week. If Iran chooses to de-escalate, this issue may not develop into a significant concern, akin to previous geopolitical events that have received short-term attention but didn’t manifest in larger market pricing in bonds, oil and the dollar.

An increase in oil prices or any disruption to oil exports would have negative repercussions for several economies, particularly those of Iran and China, which all depend on the Strait of Hormuz for continued operations. Moreover, if oil prices rise significantly and remain elevated for an extended period, it could pose challenges for the Federal Reserve and could influence mortgage rates.

However, much of this is speculative, as the next steps taken by Iran are beyond our control. I will be observing market movements tonight and throughout the week to gauge how investors are assessing the associated risks.

Conclusion

As we have seen so often, 2025 has featured an outsized share of dramatic headlines. However, aside from the Godzilla tariffs, mortgage rates and the 10-year yield have remained notably stable within an expected range, particularly as long as economic indicators don’t suggest a recession is happening this year.

We need to closely monitor all new variables in the economy and markets, but unless there is a significant escalation in the Middle East, the focus on mortgage rates should center on the labor market and how the Federal Reserve interprets the labor data.

If you’ve been looking for a solid, updated family home in the heart of one of the state’s most sought-after school zones, this luxe Frewville home could well herald the end of the search. Vendor Wen bought the home at 24 Main Ave seven years ago, attracted by not only its prized location, but also its appearance and the opportunity it gave him to place his stamp on a grand character property.

“I really loved the look of the home,” he says.

“It’s got a lovely facade and has a really fancy look from outside, and we had a really good feeling about it.

“My two children went to Glenunga International High School, which is a very good school, so we really wanted to be close to that.

“It looked like a great home that we could really improve.

“We have done some renovation work inside to improve the living area and we also added a bedroom with an ensuite, because originally it only had one bathroom, and we feel that’s made it really a lot more liveable.

“My company is in the building industry, so quality was very important to me, and I really wanted it to be the best that it could be.

“I think we really did achieve a great outcome.

“The original house was old but it was very strong and well built.”

The home has up to four bedrooms – three at the front of the floorplan, including the master suite which is complete with an ensuite with a separate bath and shower.

All have built-in robes and feature fireplaces.

The fourth, or guest bedroom, sits at the rear and has a built-in robe and an ensuite.

A grand hallway leads past a living room with a fireplace to an open-plan kitchen, living and dining room at the rear.

The kitchen features an island bench, quality appliances and ample cupboard and bench space, and this area opens to both an alfresco area overlooking the backyard, and a separate outdoor entertainment area.

This space is also accessible via the living room.

“Because we have a building company we’ve got so many friends who came over, and we can either have a small barbecue, just some drinks or a bigger party, and we can flow to both the front or back,” Wen says.

“It’s great for entertaining and would be perfect for another family, or it could also be ideal for downsizers.”

Having bought another property, still within the Glenunga school zone, Wen says it is time for someone else to enjoy the home he has brought into the future.

“It’s a wonderful home and I’m really proud of what our team has achieved,” he said.

“It’s the best it could be and I think we’ve done a wonderful job.”

The home will be auctioned at 4.15pm on July 5.

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