well... there are so many software application available, through which you can analyse, design, render, estimate, and do lot more, before getting into an actual job done.. softwares like REVIT Architecture, CYAT, STADD PRO... helps out a lot. 

As I understood "immersion" is the keyword. I.e. using an oculus rift headset or using a cave installation. I am not aware of any commercial product.

A modeller in design may have a systematic problem. For a construction task one needs a omniscient and objective point of view. Immersion might be counterproductive since all senses are bound to a single point of view. On the other hand, specific problems in optimisation (geometric, performance etc.) may be handled better with immersion (for instance HVAC installation, and architectural features). First, one needs to separate the use cases.

There are attempts to use game engines (i.e. Unity or Unreal) to immerse into an existing model for visualisation or simulation (or both) tasks. But design is still done with non-immersive solutions.

Thanks for you answers so far, 

Trying to clarify what I meant, I am looking specifically toward tools of model creation, such as CAD system/tool, but instead of desktop applications which we have plenty of today (Revit, ArchiCAD, Sketchup, etc... ), I am referring to a virtual environment which can immerse the user in some way, as well as provide the extra benefit of real-time, which is rarely the case for current CAD tools.

What I imagine doing as a designer is being in the 'game' for example and designing certain aspects of a building along with other users. To that extent, immersive might not be necessary to its fullest extent.

I am aware of several applications using visualisation of models, but not many focused on the task of 'model creation' in a game environment, so trying to apply this to a design/conceptual design stage for example. 

In a way MINECRAFT does represent the immersion / omniscient process of design quite well. It let's you switch between game mode (immersion) and creator mode (omniscient view) in a fluid way. Such an approach is getting ported into design software quite naturally (wasd navigation and game alike modes are possible in Archicad, Sketchup, and others) as it let's the designer alternate between the immersive stage - which allows testing, checking and correction of what is being created - and the omniscient mode where a more abstract "outside" 3d view, section or plan is used to actually produce the design.

Thank you Ivan, I know about Minecraft, it has a lot of potential, but the main limitation that I suspect it has is working with IFC-based objects, when in Minecraft you would have to represent those in 'blocks' I imagine, though I have never tried the game.

For post followers: I have been looking at virtual/game environments research and found quite a few interesting ones:

"Exploring BIMs as Avatars: Using 3D Virtual Worlds to Improve Collaboration with Models", Anne Anderson et al.

"Integrating BIM and gaming for real-time interactive architectural visualization", Wei Yan et al.

"The Sustainability Challenge: a serious game to promote teaching and learning of building sustainability", Hazar Dib et al.

There are also quite a few older ones that use MMO platforms to simulate/test certain aspects of architecture visualization, testing student groups collaboration, etc. 

You might take a look at CREATE

http://www.ife.no/en/ife/departments/software-engineering/products/create/hvrc-create

This is a suite of tools for inteactive 3D can be used with Oculus Rift.

http://www.ife.no/en/ife/departments/software-engineering/products/create/hvrc-create