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Victorian first-home buyers who buy a residential lot or a house-and-land package in the outer-Melbourne development of Potters Grove before June 30 would save themselves in excess of $8,000 compared with those who wait until after this date.
<img src="/images/stories/2012/06/potters1.jpg">
And developer Integrated Development is throwing in an extra $5,000 sweetener for first-time buyers of land or house-and-land packages in Potters Grove, in Officer, about 50 kilometres south-east of Melbourne.
Marketed by Oliver Hume Real Estate, the 26 lots in the first release of Potters Grove range from 325square metres to 512 square metres and are priced between $169,000 and $222,000.
<img src="/images/stories/2012/06/potters2.jpg">
A number of house-and-land packages are also available, ranging from $332,124 to $495,640. All of these are substantially below the Victorian government’s $600,000 threshold for first-home buyers to secure the <a target="_blank" href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863">$13,000 first-home bonus</a>, which expires on June 30.
<img src="/images/stories/2012/06/potters3.jpg">
From July 1 this year, first-home buyers  will be entitled to a 20% reduction in stamp duty on houses under $600,000. A buyer of a $495,640 house-and-land package at Potters Grove would receive $13,000 from the Victorian government towards the purchase of her new home on June 30, compared with a savings of $4,342 in stamp duty on July 1.
<img src="/images/stories/2012/06/potters4.jpg">
The developer’s own $5,000 bonus also expires on June 30.
“Officer is fast becoming one of Victoria’s most sought-after address, and we’re excited to be able to give first-home buyers a helping hand in purchasing their very own home at Potters Grove,” says Integrated Development director Jeff Garvey.
The project launched on April 21, and 15 lots have been sold so far.
Potters Grove is named for the nearby Berwick Pottery, and it is less than a kilometre from Officer railway station.
The median house prices in Officer fell 8.1% in the past year to $320,000, according to <a target="_blank" href="https://www.myrp.com.au/">RP Data.</a>
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cknowlton-QnEa6ntUYP

Officer development Potters Grove lures first-home buyers with additional sweetener as government deadline looms

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Some 20,000 people turned up to Dorcas Street, South Melbourne on Saturday and Sunday for The Block 2012’s open for inspections, but potential buyers were possibly few and far between.
<img src="/images/stories/2012/06/bl2.jpg">
Only 2,000 managed to get to the front of the queue and walk through the four recently renovated terraces on each weekend day, but they seemed more interested in waving to the crowds from the rooftop terraces and cooing over the décor than requesting depreciation reports or researching the suburb. The listing agents are taking their actual likely buyers through the four terraces at quiet mid-week by appointment open for inspections far away from the milling Saturday crowds.
<img src="/images/stories/2012/06/bl3.jpg">Most of the throng seemed content to jam to oldies music broadcast live by radio station Gold 104.3 and browse the food stalls and sausage sizzles set up in the street. Occasionally producers threw Block hats and T-shirts into the crowd, eliciting cheers of victory and boos of disappointment for those who missed out.
<img src="/images/stories/2012/06/bl4.jpg">The contestants themselves made an appearance on Saturday, receiving a rockstar welcome from those waiting in the occasional drizzle. After the hard work of renovating a terrace house at breakneck speed it must have been a relief to have no duties more taxing than signing hats and T-shirts for adoring fans.
<img src="/images/stories/2012/06/bl5.jpg">
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Potential buyers seemed few and far between as crowds thronged The Block 2012's open for inspections

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This weekend a large crowd at an Elsternwick auction did not translate into many bidders, but in Sydney an Erskineville auction drew more competitive bidding.
There's now a tipping website, <a style="font-size: 14px; text-align: left;" rel="nofollow" target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
At 1 Baxter Street, Elsternwick (pictured below) a lot of neighbours looked on as only one punter had his heart set on joining their community. After an opening vendor bid of $750,000 a solitary live bid of $760,000 closed out the auction proceedings.
<img src="/images/stories/2012/06/baxterst.jpg">
However. the passed in value was a long way off both the vendors and purchasers expectations and after a short negotiation a contract was signed at $840,000.
There was a bit more strength in the auction for 48a John Street, Erskineville (pictured below), as four bidders competed for the property before it was passed in at $1.12 million. The purchasers had to up the ante by $15,000 before the vendor agreed to sell for $1.135 million.
<img src="/images/stories/2012/06/stjohn.jpg">
The sale was a good result for the vendor, who paid $791,000 for the property in 2006 and has pocket capital growth at just over 6% per annum. This is almost double the median growth for Sydney houses over the same period.
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More strength in Sydney than Melbourne in auction tipping competition properties

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Charter Hall and TA Global’s Solis development in Little Bay Cove is 95% sold, with just three one-bedroom apartments still available.
<img src="/images/stories/2012/06/solis1.jpg">
Buyers who want to take advantage of the NSW government’s home builder bonus, which applies to new properties under $600,000 for both owner-occupiers and investors and exempts buyers from stamp duty, have until July 1 before the scheme expires. <a target="_blank" href="https://www.propertyobserver.com.au/residential/budget-s-first-home-buyer-%248000-bonus-might-actually-pause-nsw-new-home-purchasing-until-october/2012061355094">First-home buyers would probably be wise to wait until October to purchase</a> if they are willing to risk missing out on the last few apartments, but <a target="_blank" href="https://www.propertyobserver.com.au/landlords/nsw-property-investors-condundrum-take-the-%2422490-housing-bonus-now-or-just-%245000-after-july-1/2012061255081">upgraders and investors could miss out on a stamp duty savings of up to $22,490</a> if they don't purchase by July 1.
NG Farah agents Dennis Vertzayias and Peter Goulding are marketing the project.
<img src="/images/stories/2012/06/solis2.jpg">
There are three apartments under this threshold remaining in Solis, all one-bedders. Prices start from $499,000.


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<img src="/images/stories/2012/06/solis4.jpg">
All 10 of the two-bedroom apartments, which start from $600,000, have sold, and 32 of the 35 one-bedroom apartments have also been snapped up.
<img src="/images/stories/2012/06/solis5.jpg">
Goulding says about 70% of the apartments sold to owner-occupiers, with the rest sold to investors.
 
<img src="/images/stories/2012/06/solis6.jpg">
The Sydney suburb of Little Bay Cove is next-door to the 85-hectare Prince Henry Hospital site. Listed property trust Charter Hall is developing the 13.6-hectare parcel of land in partnership with Malaysian developer TA Global. More than half will be open space, but the project was delayed because Randwick Council initially voted against the proposal.
<img src="/images/stories/2012/06/solis7.jpg">
“While Randwick Council is now supportive of the project, most councils don’t want to be seen to be supportive because it’s an increase in density,” Charter Hall joint managing director David Southon told the Australian Financial Review. “Now they can say to their constituents, ‘Don’t blame us. we didn’t approve it’.”
<img src="/images/stories/2012/06/solis8.jpg">
Construction on Solis is set to start next month and is expected to take about 18 months.
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Three units, all under $600,000, remain in Little Bay Cove development Solis: June 30 investor countdown

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3/49 Rawson Street, Aberdare, NSW, 2325
<img src="/images/stories/2012/06/rawson1.jpg" width="470">
Close to schools, parks, shopping centres and Cessnock CBD, this vacant two-bedroom apartment is in a block of four, and the three others are currently rented at $275 per week, says listing agent Bryce Gibson of LJ Hooker. 
Gibson <a href="https://www.ljhooker.com.au/DK8F5N" target="_blank">is marketing the property</a> with price hopes of $200,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 7.2% if it were rented out at $275 per week. This is significantly above the indicative gross rental yield for Aberdare units of 5.5%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $6,000 and over five years to be $22,000.
The property will be open for inspection Saturday, June 16 at 9am and will go to auction Saturday, June 30 at 10am.
For more information about prices and yields in Aberdare, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
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47 Sunderland Avenue, Ashburton, VIC, 3147
<img src="/images/stories/2012/06/sunderland.jpg" width="470">
The tenants of this two-bedroom Ashburton house are paying $1,560 per month and are on a month-to-month lease. Tim Dwyer agent Natalie Hall says this is about at market rent for the area, considering the house is "fairly original", and the tenants are keen to stay on. The house is on a 635-square-metre block of land and includes a bungalow or third bedroom. It is close to a newly completed adventure playground. 
Hall <a target="_blank" href="https://www.timdwyer.com.au/">is marketing the property </a>with price hopes of $650,000 plus, and if it sells for $650,000 that would secure an investor a gross rental yield of 2.9%, about at the indicative gross rental yield of 2.9% for Ashburton houses, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
The median house price in Ashburton fell 11.2% in the past year, according to RP Data.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $6,000.
The property will be open for inspection Saturday, June 16 at 10.30am and will go to auction Saturday, July 30 at 12.30pm.
For more about prices and yields in Ashburton, see the RP Data suburb page.
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Friday form guide: Yields of up to 7.2% in Cessnock

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<a target="_blank" href="https://www.propertyobserver.com.au/tax/nsw-doubles-its-first-home-grant-for-new-homes/2012061255075"><img src="/images/stories/2012/06/35420.gif"></a>
The amount a <a target="_blank" href="https://www.propertyobserver.com.au/tax/nsw-doubles-its-first-home-grant-for-new-homes/2012061255075">NSW first-home buyer who purchases a $550,000 new home will get in government assistance</a> from October 1 this year. But if it is not new, the first-home buyers will secure nothing.
 
<hr>
 
<a target="_blank" href="https://www.propertyobserver.com.au/news/brisbane-unit-prices-ease-37-but-17-wipe-out-in-cairns-and-whitsundays-reiq/2012060855041"><img src="/images/stories/2012/06/17percent.gif"></a>
The fall in villa, apartment and townhouse prices in <a target="_blank" href="https://www.propertyobserver.com.au/news/brisbane-unit-prices-ease-37-but-17-wipe-out-in-cairns-and-whitsundays-reiq/2012060855041">Cairns in the 12 months to March 2012</a>, according to the Real Estate Institute of Queensland.  The median unit price in Cairns was March 2012 was $212,500, compared with $265,000 in March 2011.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/falls-creek-and-mount-hotham-best-for-ski-properties-with-prices-cooling/2012060855039"><img src="/images/stories/2012/06/22point8percent.gif"></a>
The amount that house prices in <a target="_blank" href="https://www.propertyobserver.com.au/residential/falls-creek-and-mount-hotham-best-for-ski-properties-with-prices-cooling/2012060855039">Victoria's Alpine region have fallen in the year to March</a>, according to the Real Estate Institute of Victoria. 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/house-prices-fall-in-26-countries-in-march-quarter-with-australia-in-longest-downturn-in-a-decade-global-property-guide/2012061255071"><img src="/images/stories/2012/06/26.gif"></a>
The number of countries that experienced house price falls during the March quarter,<a target="_blank" href="https://www.propertyobserver.com.au/residential/house-prices-fall-in-26-countries-in-march-quarter-with-australia-in-longest-downturn-in-a-decade-global-property-guide/2012061255071"> according to the Global Property Guide's latest house price indices survey</a>. House prices rose in only 10, and Australian house prices fell for the fifth straight quarter to be down 6.04% from a year earlier, the longest downturn for a decade.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/nathan-tinkler-sells-merewether-home-to-his-executive-troy-palmer-for-a-friendly-%E2%80%93-and-possibly-underpriced-%E2%80%93-%2428-million/2012061255087"><img src="/images/stories/2012/06/2point8m.gif"></a>
The price <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/nathan-tinkler-sells-merewether-home-to-his-executive-troy-palmer-for-a-friendly-%E2%80%93-and-possibly-underpriced-%E2%80%93-%2428-million/2012061255087">Hunter Sports Group boss Troy Palmer has paid for his boss Nathan Tinkler’s redundant beachside Merewether property</a> as Tinkler moves to Singapore. It's a very friendly price, as Tinkler bought the four-bedroom, three-bathroom 2006-built Merewether house for a then bullish record-setting $4.3 million in 2008 from the rugby league legend Andrew Johns.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/landlords/nsw-property-investors-condundrum-take-the-%2422490-housing-bonus-now-or-just-%245000-after-july-1/2012061255081"><img src="/images/stories/2012/06/22490.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/landlords/nsw-property-investors-condundrum-take-the-%2422490-housing-bonus-now-or-just-%245000-after-july-1/2012061255081">potential stamp duty savings for NSW property investors who buy before July 1 this year</a>. It’s available if buyers put a deposit down for an off-the-plan purchase or new house costing less than $600,000. Of course, taking the bonus and buying now requires a punt on the future of house prices.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/trends/time-to-buy-a-dwelling-sentiment-improves-but-unlikely-to-flow-through-to-purchases-westpacs-bill-evans/2012061355096"><img src="/images/stories/2012/06/8point2percent.gif"></a>
The amount by which the <a target="_blank" href="https://www.propertyobserver.com.au/trends/time-to-buy-a-dwelling-sentiment-improves-but-unlikely-to-flow-through-to-purchases-westpacs-bill-evans/2012061355096">"time to buy a dwelling" index in the Westpac Melbourne Institute Index of Consumer Sentiment</a> rose in June. The “time to buy a dwelling” index now stands at 128, compared with 118.2 in May and 115.4 in June last year, well above the historical average of 122.3.
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The 7 must-know numbers of the week, starting with NSW's new first-home buyer grant

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A Moonee Ponds property has appeared third on SQM Research's list of the 10 most discounted properties in Australia, which this week contains no units, only houses. 
Some of the houses on the list have been on the market for years, with SQM director Louis Christopher pointing out that the ninth-ranked property, 1302 Birkdale Place, Magenta on the NSW central coast, has been on the market for 1,446 days, or almost four years. Its price hopes have been reduced by $250,000, or 36%, in that time.
"We have seen a lot of price slashing occurring on the central coast, with many homes either stagnating in value or decreasing over time," Christopher says. 
"A region that was not too long ago a hotspot for Sydneysiders who desired an affordable seaside home, the central coast property market is softening considerably, with a vast supply of homes on the market priced to sell. This could be partially due to the fact that the area is highly reliant on tourism, a facet of the Australian economy that has suffered substantially over the past two years. The NSW central coast also has a pretty narrow based economy and with the high rate of supply added to the property market over time, it is understandable that there has been an oversupply of real estate in the area."
In contrast, 60 Margaret Street, Moonee Ponds, has been on the market for just over a year, and its vendors have this week slashed its $1 million price hopes by 38%, to $620,000. It is currently operating as a beauty salon. It last sold in 2008.
 
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">1</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009160249" target="_blank">27 Shaws Pocket Road, Cedar Creek, Queensland, 4207 </a>
On the market since: August 15, 2011
Initial asking price: $1.19 million
Current asking price: $699,000
Reduction: 41%
Days on market: 293
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106542744" target="_blank">11 Pyrites Road (via Nairne), Brukunga, SA, 5252</a>
On the market since: May 23, 2010
Initial asking price: $253,000
Current asking price: $155,000
Reduction: 39%
Days on market: 741
 
3
<a href="https://www.realestate.com.au/property-house-vic-moonee+ponds-107312818" target="_blank">60 Margaret Street, Moonee Ponds, Victoria, 3039</a> (pictured)
On the market since: April 9, 2011
Initial asking price: $1 million
Current asking price: $620,000
Reduction: 38%
Days on market: 420
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">4</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008435199" target="_blank">502 Tarni Court, Port Adelaide, SA, 5015</a>
On the market since: January 28,2010
Initial asking price: $725,000
Current asking price: $450,000
Reduction: 38%
Days on market: 707
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105812631" target="_blank">1892 Stapylton Jacobs Well Road, Jacobs Well, Queensland, 4208</a>
On the market since: July 12, 2009
Initial asking price: $515,000
Current asking price: $320,000
Reduction: 38%
Days on market: 1,056
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">6</h2>
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/NSW/Greendale/?adid=2008766488">202 Wolstenholme Avenue, Greendale, NSW, 2745</a>
On the market since: January 16, 2011
Initial asking price: $2.95 million
Current asking price: $1.85 million
Reduction: 37%
Days on market: 504
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">7</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106211228">15 Gretel, Two Rocks, WA, 6037</a> 
On the market since: December 26, 2009
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
Days on market: 889
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">8</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007736307">26a Paling Street, Thornleigh, NSW, 2120</a>
On the market since: May 16, 2009
Initial asking price: $1.1 million
Current asking price: $700,000
Reduction: 36%
Days on market: 1,113
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">9</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007217761" target="_blank">1302 Birkdale Place, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,446
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">10</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009467436" target="_blank">4565 Channel Highway, Middleton, Tasmania, 7163</a>
On the market since: January 24, 2012
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 132
 
SQM Research also offers a list of the <a target="_blank" href="https://www.sqmresearch.com.au/top100bargains.php" title="SQM Research">Top 100 Biggest Bargains in Australia </a>for sale.
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Moonee Ponds overlooked beauty makes debut at number three on SQM discounted properties list

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New Waterloo development Madison hopes to appeal to Sydneysiders who believe that good things come in small packages – and investors or upgraders, who have until July 1 to make up their minds to avoid paying stamp duty on the offerings under $600,000.
<img src="/images/stories/2012/06/madison1.jpg">
Construction is due to begin on the Elizabeth Street site next month and is expected to be completed at the end of 2013. The development launched in mid-May and is about 50% sold.
The 47 one-, two- and three-bedroom apartments “have been meticulously designed to take full advantage of every square inch of space,” says the marketing.
<img src="/images/stories/2012/06/madison2.jpg">
The 22 one-bedroom apartments (which come with studies/media rooms) will range from 58 square metres to 68 square metres internally and are priced from $489,000. The 13 two-bedroom units start from $595,000 and range from 72 square metres to 78 square metres. There are 10 two-bedroom apartments with studies or media rooms, and they range from 79 to 94 square metres internally. There are just two three-bedroom offerings, with prices starting from $899,000. They are 109 square metres.
<img src="/images/stories/2012/06/madison3.jpg">
First-home buyers might want to hold off until October 1 before they purchase in order to take advantage of the recently announced <a href="https://www.propertyobserver.com.au/residential/budget-s-first-home-buyer-%248000-bonus-might-actually-pause-nsw-new-home-purchasing-until-october/2012061355094">first-home bonus of $15,000</a>, but investors and upgraders who want to buy one of the units under $600,000 would be exempt from stamp duty until July 1 under <a href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863">the NSW home builders’ bonus.</a> From July 1 investors or upgraders will only be entitled to the NSW <a href="https://www.propertyobserver.com.au/landlords/nsw-property-investors-condundrum-take-the-%2422490-housing-bonus-now-or-just-%245000-after-july-1/2012061255081">$5,000 new-home bonus</a> if they buy off the plan.
<img src="/images/stories/2012/06/madison4.jpg">
The project is being developed by Loftex and is being marketed by Whiterock Residential Projects. Whiterock Residential Project chief executive Andrew Donnelly says investors and first-home buyers are increasingly moving to Waterloo.
“There is a major shift happening,” he says.
<img src="/images/stories/2012/06/madison5.jpg">
“With over 85% of apartments being sold in the inner west and eastern suburbs to first-home owners, young professionals and investors, the trend is now moving towards greater affordability and smarter, more efficient architectural design.”
The project has been designed by architectural firm Nettleton Tribe, and units have floor-to-ceiling windows to take advantage of parkside views.
The majority of the one-bedroom apartments and some of the two-bedders do not have parking, but Loftex general manager Rob Turchini told Fairfax Media he expected lack of parking would not deter buyers.
“We've found there's not much resistance to that because it's close to Green Square station and has a bus stop out the front, share cars and scooter parking," he says.
The median unit price in Waterloo is $513,000, according to RP Data, and unit prices fell 5.1% in the past year. The median asking rent is $550, and the indicative gross rental yield for the suburb is 5.6%.
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Madison Waterloo aims to maximise small spaces: June 30 investor bonus countdown

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The top-end market was again somewhat subdued this week, with the exception of six-bedroom house in Bulimba, Queensland, that sold for $5.1 million. The Queen’s birthday long weekend may have deterred vendors of top-end property, as auction volumes and clearance rates were down across the country this week.
The 850-square-metre house at the top of the list last sold in 2007 for $2.85 million. Agent Sarah Hackett from Place Estate Agents says the house “exudes elegant simplicity in every aspect of its stunning design”. The riverfront home has 3.5-metre ceilings and, in good Queensland fashion, outdoor living has been catered for with outdoor heating and a built-in barbecue.
The next highest price achieved this week was $2,355,000 for a four-bedroom house in the Sydney suburb of Kensington. Only three of the top 10 sales of the week cracked $2 million.
Nine of the top 10 highest sales of the week were in New South Wales, with no Melbourne sales above $1,425,000.
1. 23 Waterline Crescent, Bulimba, Queensland, 4171, six-bedroom house, sold at auction on June 7 by Place Estate Agents-Bulimba for $5.1 million
2. 22 Virginia Street, Kensington, NSW, 2033, four-bedroom house, sold at auction on June 5 by Bradfield Cleary Real Estate for $2,355,000
3. 22 Beresford Road, Rose Bay, NSW, 2029, four-bedroom house, sold at auction on June 9 by McGrath Estate Agents for $2.21 million
4. 12 Chuter Street, McMahons Point, NSW, 2060, four-bedroom house, sold on June 5 by McGrath Estate Agents for $1.8 million
5. 3 Lentara Road, Bayview, NSW, 2104, four-bedroom house, sold before auction on June 9 by McGrath Estate Agents for $1.76 million
6. 5/412 Edgecliff Road, Woollahra, NSW, 2025, three-bedroom unit, sold at auction on June 9 by McGrath Estate Agents for $1,625,000
7. 61 Stafford Street, Paddington, NSW, 2021, three-bedroom house, sold on June 6 by Di Jones Real Estate for $1,550,000
8. 36 Langlee Avenue, Waverley, NSW, 2024, four-bedroom house, sold before auction on June 6 by Di Jones Real Estate for $1.53 million
9. 16/3 Wulumay Close, Rozelle, NSW, 2039, three-bedroom unit, sold on June 7 by Realty International Balmain for $1,465,000
10. 3 Leonard Avenue, Kingsford, NSW, 2032, three-bedroom house, sold at auction on June 9 by N G Farah for $1,425,000
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With exception of $5.1 million Queensland property, no other $3 million-plus sales this week: RP Data 

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Just seven one-bedroom units remain in Serrata, which has just been completed in Melbourne’s Docklands as a joint venture between Lend Lease and Japanese developer Sekisui House.
The building comprises 83 two-bedroom apartments and 61 one-bedders and is aimed at the more affordable end of the market, including first-home buyers.
<img src="/images/stories/2012/06/serrata1.jpg">
The seven remaining one-bedroom units are priced between $425,000 and $465,000, well under the <a href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863">Victorian government’s $600,000 threshold to receive the first-home bonus</a>. The bonus is available to first-home buyers and expires June 30.
Serrata has proven popular with first-home buyers since it came to market in mid-2010.
“The project has provided first home buyers and property investors with a realistic opportunity to purchase a quality inner-city property in a great location,” says Paul Shaw, head of Lend Lease’s apartments division.
<img src="/images/stories/2012/06/serrata2.jpg">
“More than 50% of Serrata apartments were sold within the first week of launch, which shows the rising demand for apartment living close to the city.”
The building, which will accept its first residents in the next few weeks, is 15 storeys (the first 12 levels have an identical floor plan of 11 apartments, but the top three levels are much smaller and have three apartments each) and has a four-star green star rating. Each apartment comes with a smart meter in order to monitor electricity, water and gas usage. The building has no air-conditioning at this stage but is designed to maintain a fairly constant temperature with no need for climate control.
Continuing the sustainable theme, there are 65 car parks allocated to the two-bedroom buyers but enough bike parking racks for all residents and their guests.
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Seven sub-$600,000 units left in newly completed Docklands development Serrata as June 30 deadline draws closer

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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[smartcode_project_cta:default project_id=152737]

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Cassidy Knowlton

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